Common use of Concerning Interest Clause in Contracts

Concerning Interest. (a) All Debentures issued hereunder, whether originally or upon exchange or in substitution for previously issued Debentures which are interest bearing, shall bear interest (i) from and including their issue date, or (ii) from and including the last Interest Payment Date to which interest shall have been paid or made available for payment on the outstanding Debentures of that series, whichever shall be the later, or, in respect of Debentures subject to a Periodic Offering, from and including their issue date or from and including the last Interest Payment Date to which interest shall have been paid or made available for payment on such Debentures, in all cases, to and excluding the next Interest Payment Date. (b) Subject to Section 2.11(c), unless otherwise specifically provided in the terms of the Debentures of any series, interest shall be computed on the basis of a year of 360 days. With respect to any series of Debentures, whenever interest is computed on the basis of a year (the “deemed year”) which contains fewer days than the actual number of days in the calendar year of calculation, such rate of interest shall be expressed as a yearly rate for purposes of the Interest Act (Canada) by multiplying such rate of interest by the actual number of days in the calendar year of calculation and dividing it by the number of days in the deemed year. (c) For the purposes solely of disclosure under the Interest Act (Canada), whenever interest to be paid on the Debentures is to be calculated on the basis of a year of 360 days consisting of twelve 30 day months, the yearly rate of interest to which the rate used in such calculation is equivalent during any particular period is the rate so used multiplied by a fraction of which: (i) the numerator is the product of: (A) the actual number of days in the calendar year in which such period ends, and (B) the sum of (A) the product of (x) 30 and (y) the number of complete months elapsed in the relevant period and (B) the number of days elapsed in any incomplete month in the relevant period, and (ii) the denominator is the product of (i) 360 and (ii) the actual number of days in the relevant period.

Concerning Interest. (a) All Subject to Section 2.4(b) with respect to the calculation of interest in respect of the initial interest payment to be paid on the Initial Debentures, all Debentures issued hereunder, whether originally or upon exchange or in substitution for previously issued Debentures which are interest bearing, shall bear interest (i) from and including their issue date, date or (ii) from and including the last Interest Payment Date to which interest shall have been paid or made available for payment on the outstanding Debentures of that seriesseries and date of maturity, whichever shall be the later, or, in respect of Debentures subject to a Periodic Offering, from and including their issue date or from and including the last Interest Payment Date to which interest shall have been paid or made available for payment on such Debentures; provided that, in all casesrespect of the first interest payment after the original issuance thereof, to each Debenture of a series shall bear interest from the later of the issue date of such Debenture and excluding the next last Interest Payment DateDate preceding the issuance of such Debenture. (b) Subject to Section 2.11(c), unless Unless otherwise specifically provided in the terms of the Debentures of any series, interest for any period of less than six months shall be computed on the basis of a year of 360 365 days. With Subject to Section 2.4(b) in respect of the method for calculating the amount of interest to be paid on the Initial Debentures on the first Interest Payment Date in respect thereof, with respect to any series of Debentures, whenever interest is computed on the a basis of a year (the “deemed year”"DEEMED YEAR") which contains fewer days than the actual number of days in the calendar year of calculation, such rate of interest shall be expressed as a yearly rate for purposes of the Interest Act (Canada) by multiplying such rate of interest by the actual number of days in the calendar year of calculation and dividing it by the number of days in the deemed year. (c) For the purposes solely of disclosure under the Interest Act (Canada), whenever interest to be paid on the Debentures is to be calculated on the basis of a year of 360 days consisting of twelve 30 day months, the yearly rate of interest to which the rate used in such calculation is equivalent during any particular period is the rate so used multiplied by a fraction of which: (i) the numerator is the product of: (A) the actual number of days in the calendar year in which such period ends, and (B) the sum of (A) the product of (x) 30 and (y) the number of complete months elapsed in the relevant period and (B) the number of days elapsed in any incomplete month in the relevant period, and (ii) the denominator is the product of (i) 360 and (ii) the actual number of days in the relevant period.

Concerning Interest. (a) All Debentures issued hereunder, whether originally or upon exchange or in substitution for previously issued Debentures which are interest bearing, shall bear interest (i) from and including their issue date, or (ii) from and including the last Interest Payment Date to which interest shall have been paid or made available for payment on the outstanding Debentures of that series, whichever shall be the later, or, in respect of Debentures subject to a Periodic Offering, from and including their issue date or from and including the last Interest Payment Date to which interest shall have been paid or made available for payment on such Debentures, in all cases, to and excluding the next Interest Payment Date.; (b) Subject to Section 2.11(c), unless Unless otherwise specifically provided in the terms of the Debentures of any series, interest for any period of less than six months shall be computed on the basis of a year of 360 365 days. With Subject to Section 2.4(b) in respect of the method for calculating the amount of interest to be paid on the Initial Debentures on the first Interest Payment Date in respect thereof, with respect to any series of Debentures, whenever interest is computed on the a basis of a year (the “deemed year”"DEEMED YEAR") which contains fewer days than the actual number of days in the calendar year of calculation, such rate of interest shall be expressed as a yearly rate for purposes of the Interest Act INTEREST ACT (Canada) by multiplying such rate of interest by the actual number of days in the calendar year of calculation and dividing it by the number of days in the deemed year. (c) For the purposes solely of disclosure under the Interest Act (Canada), whenever interest to be paid on the Debentures is to be calculated on the basis of a year of 360 days consisting of twelve 30 day months, the yearly rate of interest to which the rate used in such calculation is equivalent during any particular period is the rate so used multiplied by a fraction of which: (i) the numerator is the product of: (A) the actual number of days in the calendar year in which such period ends, and (B) the sum of (A) the product of (x) 30 and (y) the number of complete months elapsed in the relevant period and (B) the number of days elapsed in any incomplete month in the relevant period, and (ii) the denominator is the product of (i) 360 and (ii) the actual number of days in the relevant period.

Concerning Interest. (a) All Unless otherwise specifically provided in the terms of the Debentures of any series, all Debentures issued hereunder, whether originally or upon exchange or in substitution for previously issued Debentures which are interest bearing, shall bear interest interest: (i) from and including their issue date, ; or (ii) from and including the last Interest Payment Date to which interest shall have been paid or made available for payment on the outstanding Debentures of that series, whichever shall be the later, or, in respect of Debentures subject to a Periodic Offering, from and including their issue date or from and including the last Interest Payment Date to which interest shall have been paid or made available for payment on such Debentures, in all cases, to and but excluding the next Interest Payment Date. If the Maturity Date of a particular series of Debentures is not an Interest Payment Date then such Debentures shall also bear interest from the last Interest Payment Date to but excluding the Maturity Date of such Debentures. (b) Subject to Section 2.11(c), unless Unless otherwise specifically provided in the terms of the Debentures of any series, interest for any period of less than six months shall be computed on the basis of a year of 360 365 or 366 days, as the case may be. With Subject to Section 2.4(b) in respect of the method for calculating the amount of interest to be paid on the Initial Debentures on the first interest Payment Date in respect thereof, with respect to any series of Debentures, whenever interest is computed on the basis of a year (the “deemed year”) which contains fewer days than the actual number of days in the calendar year of calculation, such rate of interest shall be expressed as a yearly rate for purposes of the Interest Act (Canada) by multiplying such rate of interest by the actual number of days in the calendar year of calculation and dividing it by the number of days in the deemed year. (c) For the purposes solely of disclosure under the Interest Act (Canada), whenever interest to be paid on the Debentures is to be calculated on the basis of a year of 360 days consisting of twelve 30 day months, the yearly rate of interest to which the rate used in such calculation is equivalent during any particular period is the rate so used multiplied by a fraction of which: (i) the numerator is the product of: (A) the actual number of days in the calendar year in which such period ends, and (B) the sum of (A) the product of (x) 30 and (y) the number of complete months elapsed in the relevant period and (B) the number of days elapsed in any incomplete month in the relevant period, and (ii) the denominator is the product of (i) 360 and (ii) the actual number of days in the relevant period.

Concerning Interest. (a) All Debentures issued hereunder, whether originally or upon exchange or in substitution for previously issued Debentures which are interest bearing, shall bear interest (i) from and including their issue date, or (ii) from and including the last Interest Payment Date to which interest shall have been paid or made available for payment on the outstanding Debentures of that series, whichever shall be the later, or, in respect of Debentures subject to a Periodic Offering, from and including their issue date or from and including the last Interest Payment Date to which interest shall have been paid or made available for payment on such Debentures, in all cases, to and but excluding the next Interest Payment Date. (b) Subject to Section 2.11(c), unless Unless otherwise specifically provided in the terms of the Debentures of any series, interest for any period of less than six months shall be computed on the basis of a year of 360 365 days. With Subject to subsection 2.4(b) in respect of the method for calculating the Initial Interest Amount to be paid on the Initial Debentures on the first Interest Payment Date in respect thereof, with respect to any series of Debentures, whenever interest is computed on the a basis of a year (the “"deemed year”") which contains fewer days than the actual number of days in the calendar year of calculation, such rate of interest shall be expressed as a yearly rate for purposes of the Interest Act (Canada) by multiplying such rate of interest by the actual number of days in the calendar year of calculation and dividing it by the number of days in the deemed year. (c) For the purposes solely of disclosure under the Interest Act (Canada), whenever interest to be paid on the Debentures is to be calculated on the basis of a year of 360 days consisting of twelve 30 day months, the yearly rate of interest to which the rate used in such calculation is equivalent during any particular period is the rate so used multiplied by a fraction of which: (i) the numerator is the product of: (A) the actual number of days in the calendar year in which such period ends, and (B) the sum of (A) the product of (x) 30 and (y) the number of complete months elapsed in the relevant period and (B) the number of days elapsed in any incomplete month in the relevant period, and (ii) the denominator is the product of (i) 360 and (ii) the actual number of days in the relevant period.

Concerning Interest. (a) All Debentures issued hereunder, whether originally or upon exchange or in substitution for previously issued Debentures which are interest bearing, shall bear interest (i) from and including their issue date, or (ii) from and including the last Interest Payment Date to which interest shall have been paid or made available for payment on the outstanding Debentures of that series, whichever shall be the later, or, in respect of Debentures subject to a Periodic Offering, from and including their issue date or from and including the last Interest Payment Date to which interest shall have been paid or made available for payment on such Debentures, in all cases, to and but excluding the next Interest Payment Date. All interest shall accrue from day to day and shall be payable in arrears for the actual number of days lapsed in the relevant interest period. (b) Subject to Section 2.11(c), unless Unless otherwise specifically provided in the terms of the Debentures of any seriesDebentures, interest for any period of less than six months shall be computed on the basis of a year of 360 365 days. With Subject to Section 2.4(b) in respect of the method for calculating the amount of interest to be paid on the Initial Debentures on the first Interest Payment Date in respect thereof, with respect to any series of Debentures, whenever interest is computed on the a basis of a year (the “"deemed year”") which contains fewer days than the actual number of days in the calendar year of calculation, such rate of interest shall be expressed as a yearly rate for purposes of the Interest Act (Canada) by multiplying such rate of interest by the actual number of days in the calendar year of calculation and dividing it by the number of days in the deemed year. (c) For the purposes solely of disclosure under the Interest Act (Canada), whenever interest to be paid on the Debentures is to be calculated on the basis of a year of 360 days consisting of twelve 30 day months, the yearly rate of interest to which the rate used in such calculation is equivalent during any particular period is the rate so used multiplied by a fraction of which: (i) the numerator is the product of: (A) the actual number of days in the calendar year in which such period ends, and (B) the sum of (A) the product of (x) 30 and (y) the number of complete months elapsed in the relevant period and (B) the number of days elapsed in any incomplete month in the relevant period, and (ii) the denominator is the product of (i) 360 and (ii) the actual number of days in the relevant period.

Concerning Interest. (a) All Debentures issued hereunder, whether originally or upon exchange or in substitution for previously issued Debentures which are interest bearing, shall bear interest (i) from and including their issue date, or (ii) from and including the last Interest Payment Date to which interest shall have been paid or made available for payment on the outstanding Debentures of that series, whichever shall be the later, or, in respect of Debentures subject to a Periodic Offering, from and including their issue date or from and including the last Interest Payment Date to which interest shall have been paid or made available for payment on such Debentures, in all cases, to and but excluding the next Interest Payment Date. (b) Subject to Section 2.11(c), unless Unless otherwise specifically provided in the terms of the Debentures of any series, interest for any period of less than six months shall be computed on the basis of a year of 360 365 days. With Subject to Section 2.4(b) in respect of the method for calculating the amount of interest to be paid on the Initial Debentures on the first Interest Payment Date in respect thereof, with respect to any series of Debentures, whenever interest is computed on the a basis of a year (the “deemed year”) which contains fewer days than the actual number of days in the calendar year of calculation, such rate of interest shall be expressed as a yearly rate for purposes of the Interest Act (Canada) by multiplying such rate of interest by the actual number of days in the calendar year of calculation and dividing it by the number of days in the deemed year. (c) For the purposes solely of disclosure under the Interest Act (Canada), whenever interest to be paid on the Debentures is to be calculated on the basis of a year of 360 days consisting of twelve 30 day months, the yearly rate of interest to which the rate used in such calculation is equivalent during any particular period is the rate so used multiplied by a fraction of which: (i) the numerator is the product of: (A) the actual number of days in the calendar year in which such period ends, and (B) the sum of (A) the product of (x) 30 and (y) the number of complete months elapsed in the relevant period and (B) the number of days elapsed in any incomplete month in the relevant period, and (ii) the denominator is the product of (i) 360 and (ii) the actual number of days in the relevant period.

Concerning Interest. (a) All Debentures issued hereunder, whether originally or upon exchange or in substitution for previously issued Debentures which are interest bearing, shall bear interest (i) from and including their issue date, or (ii) from and including the last Interest Payment Date to which interest shall have been paid or made available for payment on the outstanding Debentures of that series, whichever shall be the later, or, in respect of Debentures subject to a Periodic Offering, from and including their issue date or from and including the last Interest Payment Date to which interest shall have been paid or made available for payment on such Debentures, in all cases, to and but excluding the next Interest Payment Date. (b) Subject to Section 2.11(c), unless Unless otherwise specifically provided in the terms of the Debentures of any series, interest for any period of less than six months shall be computed on the basis of a year of 360 365 days. With Subject t o Section 2.4(b) in respect of the method for calculating the amount of interest to be paid on the Initial Debentures on the first Interest Payment Date in respect thereof, with respect to any series of Debentures, whenever interest is computed on the a basis of a year (the “"deemed year”") which contains fewer days than the actual number of days in the calendar year of calculation, such rate of interest shall be expressed as a yearly rate for purposes of the Interest Act (Canada) by multiplying such rate of interest by the actual number of days in the calendar year of calculation and dividing it by the number of days in the deemed year. (c) For the purposes solely of disclosure under the Interest Act (Canada), whenever interest to be paid on the Debentures is to be calculated on the basis of a year of 360 days consisting of twelve 30 day months, the yearly rate of interest to which the rate used in such calculation is equivalent during any particular period is the rate so used multiplied by a fraction of which: (i) the numerator is the product of: (A) the actual number of days in the calendar year in which such period ends, and (B) the sum of (A) the product of (x) 30 and (y) the number of complete months elapsed in the relevant period and (B) the number of days elapsed in any incomplete month in the relevant period, and (ii) the denominator is the product of (i) 360 and (ii) the actual number of days in the relevant period.

Concerning Interest. ‌ (a1) All Debentures issued hereunder, whether originally or upon exchange or in substitution for previously issued Debentures which are interest bearing, shall bear interest (i) from and including their issue date, or (ii) from and including the last Interest Payment Date to which interest shall have been paid or made available for payment on the outstanding Debentures of that series, whichever shall be the later, or, in respect of Debentures subject to a Periodic Offering, from and including their issue date or from and including the last Interest Payment Date to which interest shall have been paid or made available for payment on such Debentures, in all cases, to and excluding the next Interest Payment Date. (b2) Subject to Section 2.11(c2.4(3) and Section 2.12(3), unless otherwise specifically provided in the terms of the Debentures of any series, interest shall be computed on the basis of a year the actual number of 360 daysdays in the applicable calendar year. With respect to any series of Debentures, whenever interest is computed on the basis of a year (the “"deemed year”") which contains fewer days than the actual number of days in the calendar year of calculation, such rate of interest shall be expressed as a yearly rate for purposes of the Interest Act (Canada) by multiplying such rate of interest by the actual number of days in the calendar year of calculation and dividing it by the number of days in the deemed year.year.‌ (c3) For the purposes solely of disclosure under the Interest Act (Canada), whenever interest to be paid on any series of the Debentures is to be calculated on the basis of a year of 360 days consisting of twelve 30 30-day months, the yearly rate of interest to which the rate used in such calculation is equivalent during any particular period is the rate so used multiplied by a fraction of which:which:‌ (ia) the numerator is the product of: (Ai) the actual number of days in the calendar year in which such period ends, and (Bii) the sum of (A) the product of (x) 30 and (y) the number of complete months elapsed in the relevant period and (B) the number of days elapsed in any incomplete month in the relevant period, and (iib) the denominator is the product of (i) 360 and (ii) the actual number of days in the relevant period.

Concerning Interest. (a) All Debentures issued hereunderExcept as otherwise provided in a Terms Schedule or Supplemental Indenture applicable to a Series of Notes: (i) payment of interest, principal or Premium, as applicable will be made in the currency in which the Note is denominated; (ii) every Note of a Series, whether issued originally or upon in exchange or in substitution for previously issued Debentures which are interest bearingNotes, shall bear interest (i) from and including their issue date, or the later of: (iiA) from and including its date of issue; and (B) the last Interest Payment Date to which interest shall have been paid or made available for payment on the outstanding Debentures Notes of that series, whichever shall be the later, or, in respect of Debentures subject to a Periodic Offering, from and including their issue date or from and including same Series; (iii) fixed rate Notes will bear interest at the last Interest Payment Date to which interest shall have been rate per annum set out on the face thereof until the principal amount is paid or made available for payment payment, interest will be calculated and payable monthly, quarterly, semi-annually or annually in arrears in equal instalments on such Debentures, in all cases, the date specified or as may be agreed to between the Issuer and excluding the next Interest Payment Date.purchaser of a Note and at maturity or redemption; (biv) Subject to Section 2.11(c)floating rate Notes will bear interest from the original issue date thereof at rates set out on the face thereof, unless otherwise specifically provided in the terms rate of interest on floating rate Notes will be reset and payable monthly or quarterly and the Debentures Issuer shall act as pricing agent of any series, floating rate Notes; (v) interest payable shall be computed on the basis of a year of 360 365 days or, in the case of a leap year, 366 days. With respect to any series of Debentures, ; and (vi) whenever interest is computed on the basis of a year (the “"deemed year”") which contains fewer days than the actual number of days in the calendar year of calculation, such rate of interest shall be expressed as a yearly rate for purposes of the Interest Act (Canada) by multiplying such rate of interest by the actual number of days in the calendar year of calculation and dividing it such product by the number of days in the deemed year. (b) Subject to accrual of any interest on unpaid interest from time to time, interest on each Note will cease to accrue from the earlier of the Maturity Date of such Note and, if such Note is called for redemption, the Redemption Date, unless, in each case, upon due presentation and surrender of such Note for payment on or after such Maturity Date or Redemption Date, as the case may be, such payment is improperly withheld or refused by the Issuer. (c) For In this Indenture, or in the purposes solely Notes, where there is mention, in any context, of disclosure under the Interest Act (Canada)payment of interest, whenever interest such mention is deemed to be paid on include the Debentures is to be calculated on the basis of a year of 360 days consisting of twelve 30 day months, the yearly rate payment of interest on amounts in default to which the rate used extent that, in such calculation is equivalent during any particular period is context, such interest is, was or would be payable pursuant to this Indenture or the rate so used multiplied by a fraction Note, and express mention of which: (i) the numerator is the product of: (A) the actual number interest on amounts in default under this Indenture will not be construed as excluding such interest in those provisions of days in the calendar year this Indenture in which such period ends, andexpress mention is not made. (Bd) Except as otherwise provided herein or in a Terms Schedule or Supplemental Indenture applicable to a Series of Notes, if the date for payment of any amount of principal or interest in respect of any Note is not a Business Day at the place of payment, then payment will be made on the next Business Day at such place and the holder of such Note will not be entitled to any further interest or other payment in respect of the delay. (e) Except as otherwise provided herein or in a Terms Schedule or Supplemental Indenture applicable to a Series of Notes, the Issuer shall pay the interest due upon the principal amount of each interest-bearing Note (except interest payable on maturity or redemption of a Note which, at the option of the Issuer, may be paid only upon presentation of such Note for payment) by forwarding or causing to be forwarded by prepaid ordinary mail or wire transfer to the account of, the holder appearing on the Register maintained by TSX Trust Company, as Registrar and transfer agent (or in the event of mail service interruption, by such other means as the Trustee and the Issuer determine to be appropriate) a cheque for such interest (less any tax required by law to be deducted or withheld) payable to the holder of such Note for the time being on the Record Date for each applicable Interest Payment Date at the address appearing on the Register unless otherwise directed in writing by the holder or, in the case of registered joint holders, payable to all such joint holders and addressed to one of them at the last address appearing in the applicable Register and negotiable at par at each of the places at which interest upon such Note is payable. The Record Date for each applicable Interest Payment Date will be the tenth Business Day prior to the applicable Interest Payment Date, except as otherwise provided in a Terms Schedule or Supplemental Indenture applicable to a Series of Notes. The forwarding of such cheque or electronic funds transfer or wire transfer, as the case may be, shall satisfy and discharge the liability for the interest on such Note to the extent of the sum represented thereby (plus the amount of any tax deducted or withheld) unless such cheque is not paid on presentation at any of the places at which such interest is payable. In the event of the non-receipt of such cheque by the applicable Noteholder or the loss, theft or destruction thereof, the Issuer, upon being furnished with evidence of such non-receipt, loss, theft or destruction and indemnity reasonably satisfactory to it, shall issue or cause to be issued to such Noteholder a replacement cheque for the amount of such cheque. (Af) If payment of interest is made by cheque, such cheque shall be forwarded at least three Business Days prior to the product of (x) 30 applicable Interest Payment Date, and (y) the number of complete months elapsed in the relevant period and (B) the number of days elapsed if payment is made in any incomplete month other manner, such payment shall be made in a manner whereby the relevant period, andrecipient receives credit for such payment on the applicable Interest Payment Date. (iig) If a Series of Notes or any portion thereof is represented by a Global Note, then all payments of interest on the denominator is Global Note shall be made by wire transfer by the product Issuer to the Trustee and by the Trustee to the Depository or its nominee for subsequent payment to beneficial holders of interests in that Global Note, unless the Issuer and the Depository otherwise agree. Such funds as are required for the payments of interest on the Global Note by the Trustee to the Depository shall be deposited by the Issuer with the Trustee by wire transfer on or before 10:00 a.m. (iMontréal Time) 360 on the Interest Payment Date. The Trustee shall use the funds deposited by the Issuer with the Trustee to pay to the Depository on the Interest Payment Date the interest on the Global Note then due. The deposit of funds by the Issuer with the Trustee with respect to the payment of interest will satisfy and discharge the liability of the Issuer in respect of the interest then due on such Global Note to the extent of the amount deposited (ii) plus the actual number amount of days any tax deducted and withheld). None of the Issuer, the Trustee or any agent or mandatary of the Trustee for any Note issued as a Global Note will be liable or responsible to any person for any aspect of the records related to or payments made on account of beneficial interests in the relevant periodany Global Note or for maintaining, reviewing, or supervising any records relating to such beneficial interests.