Common use of Maximum Rate of Interest Clause in Contracts

Maximum Rate of Interest. Notwithstanding anything herein or in any of the other Loan Documents to the contrary, in the event that any provision of this Agreement or any other Loan Documents would oblige the Borrower to make any payment of interest or other amount payable to the Lender in an amount or calculated at a rate which would be prohibited by law or would result in a receipt by the Lender of interest at a criminal or prohibited rate (as such terms are construed under the Criminal Code (Canada) or any other Applicable Law), then notwithstanding such provision, such amount or rate shall be deemed to have been adjusted with the same effect as if adjusted at the Closing Date to the maximum amount or rate of interest, as the case may be, as would not be so prohibited by law or so result in a receipt by the Lender of interest at a criminal or prohibited rate, such adjustment to be effected to the extent necessary in each case, as follows: (a) by reducing any fees and other amounts which would constitute interest for the purposes of Section 347 of the Criminal Code (Canada) or any other Applicable Law; and (b) by reducing the amount or rate of interest eligible under Article 4 of this Agreement. Any amount or rate of interest referred to in this Section 4.7 shall be determined in accordance with generally accepted actuarial practices and principles over the maximum term of this Agreement (or over such shorter term as may be required by Section 347 of the Criminal Code (Canada) or any other Applicable Law) and, in the event of a dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Lender shall be conclusive for the purposes of such determination, absent manifest error.

Maximum Rate of Interest. Notwithstanding anything herein or in any of the other Loan Documents to the contrary, contrary in the event that any provision of this Agreement or any other Loan Documents would oblige the Borrower to make any payment of interest or other amount payable to the Lender in an amount or calculated at a rate which would be prohibited by law or would result in a receipt by the Lender of interest at a criminal or prohibited rate (as such terms are construed under the Criminal Code (Canada) or any other Applicable Law), then notwithstanding such provision, such amount or rate shall be deemed to have been adjusted with the same effect as if adjusted at the Closing Date to the maximum amount or rate of interest, as the case may be, as would not be so prohibited by law or so result in a receipt by the Lender of interest at a criminal or prohibited rate, such adjustment to be effected to the extent necessary in each case, as follows: (a) by reducing any fees and other amounts which would constitute interest for the purposes of Section 347 of the Criminal Code (Canada) or any other Applicable Law; and (b) by reducing the amount or rate of interest eligible exigible under Article 4 3 of this Agreement. Any ; and (c) any amount or rate of interest referred to in this Section 4.7 3.19 shall be determined in accordance with generally accepted actuarial practices and principles over the maximum term of this Agreement (or over such shorter term as may be required by Section 347 of the Criminal Code (Canada) or any other Applicable Law) and, in the event of a dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Lender shall be conclusive for the purposes of such determination, absent manifest error.

Maximum Rate of Interest. Notwithstanding anything herein or in any of the other Loan Documents to the contrary, : 3.11.1 in the event that any provision of this Agreement or any other Loan Documents Document would oblige the Borrower to make any payment of interest or other amount payable to the Lender Lenders in an amount or calculated at a rate which would be prohibited by law or would result in a receipt by the Lender Lenders of interest at a criminal or prohibited rate (as such terms are construed under the Criminal Code (Canada) or any other Applicable Law), then notwithstanding such provision, such amount or rate shall be deemed to have been adjusted with the same effect as if adjusted at the Closing Date to the maximum amount or rate of interest, as the case may be, as would not be so prohibited by law or so result in a receipt by the Lender Lenders of interest at a criminal or prohibited rate, such adjustment to be effected to the extent necessary in each case, as follows: (a) by reducing any fees and other amounts which would constitute interest for the purposes of Section 347 of the Criminal Code (Canada) or any other Applicable Law; and; (b) by reducing the amount or rate of interest eligible exigible under Article 4 of this Agreement. Any Sections2.2.4, 2.3 and 3.2; and (c) any amount or rate of interest referred to in this Section 4.7 3.11 shall be determined in accordance with generally accepted actuarial practices and principles over the maximum term of this Agreement (or over such shorter term as may be required by Section 347 of the Criminal Code (Canada) or any other Applicable Law) and, in the event of a dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Lender Administrative Agent shall be conclusive for the purposes of such determination, absent manifest error.

Maximum Rate of Interest. Notwithstanding anything herein or in any of the other Loan Documents to the contrary, : 2.14.1 in the event that any provision of this Agreement or any other Loan Documents Document would oblige the Borrower to make any payment of interest or other amount payable to the Lender Lenders in an amount or calculated at a rate which would be prohibited by law or would result in a receipt by the Lender Lenders of interest at a criminal or prohibited rate (as such terms are construed under the Criminal Code (Canada) or any other Applicable Law), then notwithstanding such provision, such amount or rate shall be deemed to have been adjusted with the same effect as if adjusted at the Closing Date to the maximum amount or rate of interest, as the case may be, as would not be so prohibited by law or so result in a receipt by the Lender Lenders of interest at a criminal or prohibited rate, such adjustment to be effected to the extent necessary in each case, as follows: (a) by reducing any fees and other amounts which would constitute interest for the purposes of Section 347 of the Criminal Code (Canada) or any other Applicable Law; and; (b) by reducing the amount or rate of interest eligible exigible under Article 4 2 of this Agreement. Any ; and (c) any amount or rate of interest referred to in this Section 4.7 2.14 shall be determined in accordance with generally accepted actuarial practices and principles over the maximum term of this Agreement (or over such shorter term as may be required by Section 347 of the Criminal Code (Canada) or any other Applicable Law) and, in the event of a dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Lender Administrative Agent shall be conclusive for the purposes of such determination, absent manifest error.

Maximum Rate of Interest. Notwithstanding anything herein or in any of the other Loan Documents to the contrary, : in the event that any provision of this Agreement or any other Loan Documents Document would oblige the Borrower to make any payment of interest or other amount payable to the Lender Lenders in an amount or calculated at a rate which would be prohibited by law or would result in a receipt by the Lender Lenders of interest at a criminal or prohibited rate (as such terms are construed under the Criminal Code (Canada) or any other Applicable Law), then notwithstanding such provision, such amount or rate shall be deemed to have been adjusted with the same effect as if adjusted at the Closing First Advance Date to the maximum amount or rate of interest, as the case may be, as would not be so prohibited by law or so result in a receipt by the Lender Lenders of interest at a criminal or prohibited rate, such adjustment to be effected to the extent necessary in each case, as follows: (a) 3.11.1 by reducing any fees and other amounts which would constitute interest for the purposes of Section 347 of the Criminal Code (Canada) or any other Applicable Law; and; (b) 3.11.2 by reducing the amount or rate of interest eligible exigible under Article 4 of this Agreement. Any Sections 2.3 and 3.2; and 3.11.3 any amount or rate of interest referred to in this Section 4.7 3.11 shall be determined in accordance with generally accepted actuarial practices and principles over the maximum term of this Agreement (or over such shorter term as may be required by Section 347 of the Criminal Code (Canada) or any other Applicable Law) and, in the event of a dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Lender Administrative Agent shall be conclusive for the purposes of such determination, absent manifest error.

Maximum Rate of Interest. Notwithstanding anything herein or in any of the other Loan Documents to the contrary, : in the event that any provision of this Agreement or any other Loan Documents Document would oblige the Borrower to make any payment of interest or other amount payable to the Lender Lenders in an amount or calculated at a rate which would be prohibited by law or would result in a receipt by the Lender Lenders of interest at a criminal or prohibited rate (as such terms are construed under the Criminal Code (Canada) or any other Applicable Law), then notwithstanding such provision, such amount or rate shall be deemed to have been adjusted with the same effect as if adjusted at the Closing Date to the maximum amount or rate of interest, as the case may be, as would not be so prohibited by law or so result in a receipt by the Lender Lenders of interest at a criminal or prohibited rate, such adjustment to be effected to the extent necessary in each case, as follows: (a) 3.11.1 by reducing any fees and other amounts which would constitute interest for the purposes of Section 347 of the Criminal Code (Canada) or any other Applicable Law; and; (b) 3.11.2 by reducing the amount or rate of interest eligible exigible under Article 4 of this Agreement. Any Sections 2.3 and 3.2; and 3.11.3 any amount or rate of interest referred to in this Section 4.7 3.11 shall be determined in accordance with generally accepted actuarial practices and principles over the maximum term of this Agreement (or over such shorter term as may be required by Section 347 of the Criminal Code (Canada) or any other Applicable Law) and, in the event of a dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Lender Administrative Agent shall be conclusive for the purposes of such determination, absent manifest error.

Maximum Rate of Interest. 6.10.1 Notwithstanding anything herein or in any of the other Loan Documents to the contrary, : (a) in the event that any provision of this Agreement or any other Loan Documents Document would oblige the Borrower to make any payment of interest or other amount payable to the Lender Lenders in an amount or calculated at a rate which would be prohibited by law or would result in a receipt by the Lender Lenders of interest at a criminal or prohibited rate (as such terms are construed under the Criminal Code (Canada) or any other Applicable Law), then notwithstanding such provision, such amount or rate shall be deemed to have been adjusted with the same effect as if adjusted at the Closing Effective Date to the maximum amount or rate of interest, as the case may be, as would not be so prohibited by law or so result in a receipt by the Lender Lenders of interest at a criminal or prohibited rate, such adjustment to be effected to the extent necessary in each case, as follows: (ai) by reducing any fees and other amounts which would constitute interest for the purposes of Section 347 of the Criminal Code (Canada) or any other Applicable Law; and; (bii) by reducing the amount or rate of interest eligible exigible under Article 4 of this Agreement. Any Sections 2.4 and 6.2; and (iii) any amount or rate of interest referred to in this Section 4.7 6.10 shall be determined in accordance with generally accepted actuarial practices and principles over the maximum term of this Agreement (or over such shorter term as may be required by Section 347 of the Criminal Code (Canada) or any other Applicable Law) and, in the event of a dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Lender Administrative Agent shall be conclusive for the purposes of such determination, absent manifest error.

Maximum Rate of Interest. Notwithstanding anything herein or in any of the other Loan Documents to the contrary, contrary in the event that any provision of this Agreement or any other Loan Documents would oblige the Borrower to make any payment of interest or other amount payable to the Lender Lenders in an amount or calculated at a rate which would be prohibited by law or would result in a receipt by the Lender Lenders of interest at a criminal or prohibited rate (as such terms are construed under the Criminal Code (Canada) or any other Applicable Law), then notwithstanding such provision, such amount or rate shall be deemed to have been adjusted with the same effect as if adjusted at the Closing Date to the maximum amount or rate of interest, as the case may be, as would not be so prohibited by law or so result in a receipt by the Lender Lenders of interest at a criminal or prohibited rate, such adjustment to be effected to the extent necessary in each case, as follows: (a) by reducing any premiums, penalties or fees and other amounts which would constitute interest for the purposes of Section 347 of the Criminal Code (Canada) or any other Applicable Law; and (b) by reducing the amount or rate of interest eligible payable under Article 4 3 of this Agreement. Any ; and any amount or rate of interest referred to in this Section 4.7 3.8 shall be determined in accordance with generally accepted actuarial practices and principles over the maximum term of this Agreement (or over such shorter term as may be required by Section 347 of the Criminal Code (Canada) or any other Applicable Law) and, in the event of a dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Lender Lenders shall be conclusive for the purposes of such determination, absent manifest error.

Maximum Rate of Interest. Notwithstanding anything herein or in any of the other Loan Documents to the contrary, : (a) in the event that any provision of this Agreement or any other Loan Documents would oblige the Borrower to make any payment of interest or other amount payable to the Lender in an amount or calculated at a rate which would be prohibited by law or would result in a receipt by the Lender of interest at a criminal or prohibited rate (as such terms are construed under the Criminal Code (Canada) or any other Applicable Law), then notwithstanding such provision, such amount or rate shall be deemed to have been adjusted with the same effect as if adjusted at the Closing Date to the maximum amount or rate of interest, as the case may be, as would not be so prohibited by law or so result in a receipt by the Lender of interest at a criminal or prohibited rate, such adjustment to be effected to the extent necessary in each case, as follows: (ai) by reducing any fees and other amounts which would constitute interest for the purposes of Section 347 of the Criminal Code (Canada) or any other Applicable Law; and (bii) by reducing the amount or rate of interest eligible exigible under Article 4 2 of this Agreement. Any ; and (iii) any amount or rate of interest referred to in this Section 4.7 3.16 shall be determined in accordance with generally accepted actuarial practices and principles over the maximum term of this Agreement (or over such shorter term as may be required by Section 347 of the Criminal Code (Canada) or any other Applicable Law) and, in the event of a dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Lender shall be conclusive for the purposes of such determination, absent manifest error.