Limit on Rate of Interest. The Borrower shall not be obligated to pay ------------------------- any interest under or in connection with this Agreement to the extent such interest exceeds the effective annual rate of interest on the credit advanced hereunder that would be lawfully permitted under the Criminal Code. For purposes of this section, "interest" and "credit ------------- advanced" have the meanings ascribed to such terms in the Criminal -------- Code, and the "effective annual rate of interest" shall be calculated ---- in accordance with generally accepted actuarial practices and principles.
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Sources: Credit Facility Agreement (Steelcase Inc), Credit Facility Agreement (Steelcase Inc)
Limit on Rate of Interest. The Borrower shall not be obligated to pay ------------------------- any interest under or in connection with this Agreement to the extent such interest exceeds the effective annual rate of interest on the credit advanced hereunder that would be lawfully permitted under the Criminal Code. For purposes of this section, "“interest" ” and "“credit ------------- advanced" ” have the meanings ascribed to such terms in the Criminal -------- Code, Code and the "“effective annual rate of interest" ” shall be calculated ---- in accordance with generally accepted actuarial practices and principles.
Appears in 1 contract