Common use of Reference Rate Clause in Contracts

Reference Rate. The reference rate for a year is determined on the basis of the month-end, nominal rate of interest earned on long-term bonds issued by the Government of Canada for the month of November preceding the beginning of the fiscal year, as compiled by Statistics Canada and published in the Bank of Canada Review under identification number B-14013 in the CANSIM system, adjusted by applying successively to that rate the following adjustments: a) An increase of one half of one percent (0.5%); b) The conversion of the increased rate, based on interest compounded semi-annually, to an effective annual rate of interest; and c) the rounding of the effective interest rate to the nearest multiple of one half of one percent (0.5%). The reference rate thus determined may not be less than six percent (6%).

Reference Rate. The reference rate for a the fiscal year of the Fund is determined based on the basis of the month-end, end nominal rate of interest earned on long-term bonds issued by the Government of Canada for the month of November preceding the beginning of the fiscal year, as compiled by Statistics Canada and published in the Bank of Canada Review under identification number B-14013 V122487 in the CANSIM system, adjusted by applying with the following adjustments applied successively to that rate the following adjustmentsnominal rate: a(i) An an increase of one half of one percent (0.5%); b(ii) The the conversion of the increased rate, based on interest compounded semi-annually, to an effective annual rate of interest; and c(iii) the rounding of the effective interest rate to the nearest multiple of one half of one percent (0.5%). The reference rate thus determined may not be less than six percent (66.00%).

Reference Rate. The reference rate for a the fiscal year of the Fund is determined based on the basis of the month-end, end nominal rate of interest earned on long-term bonds issued by the Government of Canada for the month of November preceding the beginning of the fiscal year, as compiled by Statistics Canada and published in the Bank of Canada Review under identification number B-14013 V122487 in the CANSIM system, adjusted by applying with the following adjustments applied successively to that rate the following adjustmentsnominal rate: a(i) An increase of one half of one percent (0.5%); b) The the conversion of the increased interest rate, based on interest compounded semi-annually, to an effective annual rate interest rate; (ii) an increase of interest2.75% of the effective interest rate; and c(iii) the rounding of the effective interest rate to the nearest multiple of one half of one percent (0.50.25%). The reference rate thus determined may not be less than six percent (6%).