Actuarial Principles. Any amount or rate of interest referred to in this Section 4.9 shall be determined in accordance with generally accepted actuarial practices and principles as an effective annual rate of interest over the term that any Borrowing remains outstanding on the assumption that any charges, fees or expenses that fall within the meaning of interest (as defined in the Criminal Code (Canada)) shall, if they relate to a specific period of time, be pro-rated over that period of time and otherwise be pro-rated over the period from the Closing Date to the applicable Final Maturity Date and, in the event of a dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Administrative Agent shall be conclusive for the purposes of that determination.
Appears in 2 contracts
Sources: Credit Agreement (Lithia Motors Inc), Credit Agreement (Lithia Motors Inc)
Actuarial Principles. Any amount or rate of interest referred to in this Section 4.9 4.7 shall be determined in accordance with generally accepted actuarial practices and principles as an effective annual rate of interest over the term that any Borrowing Advance remains outstanding on the assumption that any charges, fees or expenses that fall within the meaning of interest (as defined in the Criminal Code (Canada)) shall, if they relate to a specific period of time, be pro-rated over that period of time and otherwise be pro-rated over the period from the Closing Date date of this Agreement to the applicable Final Maturity Date and, in the event of a dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Administrative Agent shall be conclusive for the purposes of that determination.
Appears in 2 contracts
Sources: Bridge and Term Loan Credit Agreement, Bridge and Term Loan Credit Agreement
Actuarial Principles. Any amount or rate of interest referred to in this Section 4.9 3.9 shall be determined in accordance with generally accepted actuarial practices and principles as an effective annual rate of interest over the term that any Borrowing Advance remains outstanding on the assumption that any charges, fees or expenses that fall within the meaning of interest (as defined in the Criminal Code (Canada)) shall, if they relate to a specific period of time, be pro-rated over that period of time and otherwise be pro-rated over the period from the Closing Date to the applicable Final Maturity Date and, in the event of a dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Administrative Agent shall be conclusive for the purposes of that determination.
Appears in 2 contracts
Sources: Credit Agreement (Quebecor Media Inc), Credit Agreement (Quebecor Media Inc)
Actuarial Principles. Any amount or rate of interest referred to in this Section 4.9 4.5 shall be determined in accordance with generally accepted actuarial practices and principles as an effective annual rate of interest over the term that any Borrowing Loan remains outstanding on the assumption that any charges, fees or expenses that fall within the meaning of interest (as defined in the Criminal Code (Canada)) shall, if they relate to a specific period of time, be pro-rated over that period of time and otherwise be pro-rated over the period from the Closing Date to the applicable Final Revolving Maturity Date and, in the event of a dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Administrative Agent Lender shall be conclusive for the purposes of that determination.
Appears in 2 contracts
Sources: Loan Agreement (Quantum Fuel Systems Technologies Worldwide Inc), Loan Agreement (Starcraft Corp /In/)
Actuarial Principles. Any amount or rate of interest referred to in this Section 4.9 4.4 shall be determined in accordance with generally accepted actuarial practices and principles as an effective annual rate of interest over the term that of any Borrowing remains outstanding Loan on the assumption that any charges, fees or expenses that fall within the meaning of interest “interest” (as defined in the Criminal Code (Canada)) shall, if they relate to a specific period of time, be pro-rated prorated over that period of time and otherwise be pro-rated prorated over the period from the (Closing Date to the applicable Final Maturity Termination Date and, in the event of a dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Administrative Agent Lenders shall be conclusive for the purposes of that determinationsuch determination absent manifest error.
Appears in 2 contracts
Sources: Credit Agreement (Manulife Financial Corp), Credit Agreement (Manulife Financial Corp)
Actuarial Principles. Any amount or rate of interest referred to in this Section 4.9 2.8 shall be determined in accordance with generally accepted actuarial practices and principles as an effective annual rate of interest over the term that any Borrowing Advance remains outstanding on the assumption that any charges, fees or expenses that fall within the meaning of interest “interest” (as defined in the Criminal Code (Canada)) shall, if they relate to a specific period of time, be pro-rated over that period of time and otherwise be pro-rated over the period from the Closing Date date of this Agreement to the applicable Final Maturity Date and, in the event of a dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Administrative Agent Lender shall be conclusive for the purposes of that determination.
Appears in 1 contract
Sources: Credit and Security Agreement (Delphax Technologies Inc)
Actuarial Principles. Any amount or rate of interest referred to in this Section 4.9 4.8 shall be determined in accordance with generally accepted actuarial practices and principles as an effective annual rate of interest over the term that any Borrowing Advance remains outstanding on the assumption that any charges, fees or expenses that fall within the meaning of interest (as defined in the Criminal Code (Canada)) shall, if they relate to a specific period of time, be pro-rated over that period of time and otherwise be pro-rated over the period from the Closing Date to the applicable Final Maturity Date and, in the event of a dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Administrative Agent shall be conclusive for the purposes of that determination.
Appears in 1 contract
Actuarial Principles. Any amount or rate of interest referred to in this Section 4.9 3.5 shall be determined in accordance with generally accepted actuarial practices and principles as an effective annual rate of interest over the term that any Borrowing Loan remains outstanding on the assumption that any charges, fees or expenses that fall within the meaning of interest (as defined in the Criminal Code (Canada)) shall, if they relate to a specific period of time, be pro-rated over that period of time and otherwise be pro-rated over the period from the Closing Date to the applicable Final Maturity Date and, in the event of a dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Administrative Agent shall be conclusive for the purposes of that determination.
Appears in 1 contract
Sources: Credit and Guarantee Agreement (Kaiser Francis Oil Co)
Actuarial Principles. Any amount or rate of Criminal Code interest referred to in this Section 4.9 section shall be calculated and determined in accordance with generally accepted actuarial practices and principles as an effective annual rate of interest over the term that any Borrowing loan indebtedness remains outstanding on the assumption that any charges, fees or expenses that fall within the meaning of interest (as defined in the constitute Criminal Code (Canada)) shall, if they relate to a specific period of time, be pro-rated over that period of time and otherwise interest shall be pro-rated over the period from commencing on the Closing Date to date of the applicable Final first advance of the Loan and ending on the relevant Maturity Date (as extended by the Lender from time to time as provided by Section 3.19) and, in the event of a dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Administrative Agent Lender shall be conclusive for the purposes of that such calculation and determination.
Appears in 1 contract
Sources: Senior Secured Credit Agreement (Crystallex International Corp)
Actuarial Principles. Any amount or rate of interest referred to in this Section 4.9 4.4 shall be determined in accordance with generally accepted actuarial practices and principles as an effective annual rate of interest over the term that any Borrowing Loan remains outstanding on the assumption that any charges, fees or expenses that fall within the meaning of interest (as defined in the Criminal Code (Canada)) shall, if they relate to a specific period of time, be pro-rated over that period of time and otherwise be pro-rated over the period from the Closing Effective Date to the applicable Final Maturity Date and, in the event of a dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Administrative Agent (acting on the instructions of the Majority Lenders) shall be conclusive for the purposes of that determination.
Appears in 1 contract
Sources: Credit and Guarantee Agreement (Lithium Americas Corp.)
Actuarial Principles. Any amount or rate of interest referred to in this Section 4.9 3.12 shall be determined in accordance with generally accepted actuarial practices and principles as an effective annual rate of interest over the term that any Borrowing Advance remains outstanding on the assumption that any charges, fees or expenses that fall within the meaning of interest (as defined in the Criminal Code (Canada)) shall, if they relate to a specific period of time, be pro-rated over that period of time and otherwise be pro-rated over the period from the Closing Restatement Date to the applicable Final Maturity Date and, in the event of a dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Administrative Agent shall be conclusive for the purposes of that determination.
Appears in 1 contract
Actuarial Principles. Any amount or rate of interest referred to in this Section 4.9 3.11 shall be determined in accordance with generally accepted actuarial practices and principles as an effective annual rate of interest over the term that any Borrowing Advance remains outstanding on the assumption that any charges, fees or expenses that fall within the meaning of interest (as defined in the Criminal Code (Canada)) shall, if they relate to a specific period of time, be pro-rated over that period of time and otherwise be pro-rated over the period from the Closing Date to the applicable Final Maturity Date and, in the event of a dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Administrative Agent shall be conclusive for the purposes of that determination.
Appears in 1 contract