Common use of Canadian Prime Rate Loans Clause in Contracts

Canadian Prime Rate Loans. Each Canadian Prime Rate Loan shall bear interest (computed on the basis of a year of 365 or 366 days, as the case may be, and the actual days elapsed) on the unpaid principal amount thereof from the date such Loan is advanced until maturity (whether by acceleration or otherwise) at a rate per annum equal to the sum of the Applicable Margin plus the Canadian Base Rate from time to time in effect, payable by the Canadian Borrower on each Interest Payment Date, and at maturity (whether by acceleration or otherwise).

Canadian Prime Rate Loans. Each Canadian Prime Rate Loan shall bear interest (computed on the basis of a year of 365 or 366 days, as the case may be, and the actual days elapsed) on the unpaid outstanding principal amount thereof thereof, for each day from the date such Loan is advanced made until maturity (whether by acceleration or otherwise) it becomes due, at a rate per annum equal to the sum of the Applicable Margin for such day plus the Canadian Base Rate from time for such day. Such interest shall be payable on the last day of its Interest Period and, with respect to time in effectthe principal amount of any Canadian Prime Rate Loan converted to a borrowing by way of Bankers’ Acceptances, payable by on the date such Canadian Borrower on each Interest Payment Date, and at maturity (whether by acceleration or otherwise)Prime Rate Loan is so converted.