Compliance with the Interest Act (Canada). For the purposes of this Agreement, whenever any interest is calculated on the basis of a period of time other than a calendar year, the annual rate of interest to which each rate of interest determined pursuant to such calculation is equivalent for the purposes of the Interest Act (Canada) is such rate as so determined multiplied by the actual number of days in the calendar year in which the same is to be ascertained and divided by the number of days used in the basis of such determination.
Appears in 7 contracts
Samples: Credit Agreement, Revolving Term Credit Agreement (Celestica Inc), Revolving Term Credit Agreement (Celestica Inc)
Compliance with the Interest Act (Canada). For the purposes of this Agreement, whenever any interest is calculated on the basis of a period of time other than a calendar year, the annual rate of interest to which each rate of interest determined pursuant to such calculation is equivalent for the purposes of the Interest Act INTEREST ACT (Canada) is such rate as so determined multiplied by the actual number of days in the calendar year in which the same is to be ascertained and divided by the number of days used in the basis of such determination.
Appears in 2 contracts
Samples: Revolving Term Credit Agreement (Celestica Inc), Credit Agreement (Celestica Inc)
Compliance with the Interest Act (Canada). For the purposes of this AgreementAgreement with respect to Stream Canada, whenever any interest is calculated on the basis of a period of time other than a calendar year, the annual rate of interest to which each such rate of interest determined pursuant to such calculation is equivalent for the purposes of the Interest Act (Canada) is to such rate as so determined multiplied by the actual number of days in the calendar year in which the same is to be ascertained and divided by the number of days used in as the basis of such determinationcalculation.
Appears in 2 contracts
Samples: Security Agreement (Stream Global Services, Inc.), Security Agreement (Stream Global Services, Inc.)
Compliance with the Interest Act (Canada). For the purposes of this Agreement, whenever any interest is calculated on the basis of a period of time other than a calendar year, the annual rate of interest to which each such rate of interest determined pursuant to such calculation is equivalent for the purposes of the Interest Act (Canada) is such rate as so determined multiplied by the actual number of days in the calendar year in which the same is to be ascertained and divided by the number of days used in as the basis of such determinationcalculation.
Appears in 2 contracts
Samples: Credit Agreement (Bombardier Recreational Products Inc.), Credit Agreement (BRP (Luxembourg) 4 S.a.r.l.)
Compliance with the Interest Act (Canada). For the purposes of this Agreement, whenever any Any interest is calculated rate or fee based on the basis of a period of time other less than a calendar year, the year expressed as an annual rate of interest to which each rate of interest determined pursuant to such calculation is equivalent for the purposes of the Interest Act (Canada) is equivalent to such determined rate as so determined multiplied by the actual number of days in the calendar year in which the same is to be ascertained and divided by the number of days used in the basis of such determinationperiod upon which it was based.
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