Common use of General Interest Rules Clause in Contracts

General Interest Rules. (a) For the purposes hereof, whenever interest is calculated on the basis of a year of 360 or 365 days, each rate of interest or fee determined pursuant to such calculation expressed as an annual rate for the purposes of the Interest Act (Canada) is equivalent 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 360 or 365 days, respectively. The Borrower shall not plead or assert, whether by way of defense or otherwise, in any proceeding relating to this agreement and the other Credit Documents, that the interest payable under this agreement and the calculation thereof has not been adequately disclosed to it, whether pursuant to section 4 of the Interest Act (Canada) or any other Applicable Law or legal principle. (b) Interest on each Loan and on overdue interest thereon shall be payable in the currency in which such Loan is denominated during the relevant period. (c) If the Borrower fails to pay any fee or other amount (other than principal or interest) of any nature payable by it to the Administrative Agent or the Lenders hereunder or under any document, instrument or agreement delivered pursuant hereto on the due date therefor, the Borrower shall pay to the Administrative Agent or the Lenders, as the case may be, interest on such overdue amount in the same currency as such overdue amount is payable from and including such due date to but excluding the date of actual payment (as well before and after judgment) at the rate per annum, calculated and compounded monthly, which is equal to, (i) in the case of a Term Benchmark Loan, Term SOFR Rate for the Interest Period applicable thereto plus the Applicable Rate then in effect at all times that an Event of Default has occurred and is continuing and (ii) in the case of a Base Rate Loan, the Base Rate plus the Applicable Rate then in effect at all times that an Event of Default has occurred and is continuing. Such interest on overdue amounts shall become due and be paid on demand made by the Administrative Agent. (d) No interest or fee to be paid hereunder shall be paid at a rate exceeding the maximum rate permitted by Applicable Law. In the event that such interest or fee exceeds such maximum rate, such interest or fees shall be reduced or refunded, as the case may be, so as to be payable at the highest rate recoverable under Applicable Law.

General Interest Rules. (a) For the purposes hereof, whenever interest is calculated on the basis of a year of 360 360, 365 or 365 366 days, each rate of interest or fee determined pursuant to such calculation expressed as an annual rate for the purposes of the Interest Act (Canada) is equivalent 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 360 360, 365 or 365 days366, respectively. The Borrower confirms that it fully understands and is able to calculate the rates of interest and fees applicable to advances based on the methodology for calculating per annum rates provided for in this Agreement. The Agent agrees that if requested in writing by the Borrower it will calculate the nominal and effective per annum rate of interest or fees on any advance outstanding at the time of such request and provide such information to the Borrower promptly following such request; provided that any error in any such calculation, or any failure to provide such information on request, shall not relieve the Borrower of any of its obligations under this Agreement or any other Loan Document, nor result in any liability to the Agent or any Lender. To the extent permitted by law, the Borrower hereby irrevocably agrees not to plead or assert, whether by way of defense defence or otherwise, in any proceeding relating to this agreement and the other Credit Documentsany Loan Document, that the interest or fees payable under this agreement any Loan Document and the calculation thereof has not been adequately disclosed to itthe Borrower, whether pursuant to section 4 of the Interest Act (Canada) or any other Applicable Law applicable law or legal principle. (b) Interest on each Loan and on overdue interest thereon shall be payable in the currency in which such Loan is denominated during the relevant period. (c) If the Borrower fails to pay any principal, interest, interest equivalent, fee or other material amount (other than principal or interest) of any nature payable by it to the Administrative Agent or the Lenders hereunder or under any document, instrument or agreement delivered pursuant hereto on the due date therefor, the Borrower shall pay to the Administrative Agent or the Lenders, as the case may be, Lenders interest on such overdue amount in the same currency as such overdue amount is payable from and including such due date to but excluding the date of actual payment (as well after as before and after judgment) at the rate per annum, calculated and compounded monthly, which is equal to, : (i) the Alternate Base Rate Canada plus 2% per annum in the case of a Term Benchmark Loan, Term SOFR Rate for the Interest Period applicable thereto plus the Applicable Rate then overdue amounts denominated in effect at all times that an Event of Default has occurred and is continuing and U.S. dollars; and (ii) the Prime Rate plus 2% per annum in the case of a Base Rate Loan, the Base Rate plus the Applicable Rate then in effect at all times that an Event of Default has occurred and is continuingother overdue amounts. Such interest on overdue amounts shall become due and be paid on demand made by the Administrative Agent. (d) No interest or fee to be paid hereunder shall be paid at a rate exceeding the maximum rate permitted by Applicable Law. In the event that such interest or fee exceeds such maximum rate, such interest or fees shall be reduced or refunded, as the case may be, so as to be payable at the highest rate recoverable under Applicable Law.

General Interest Rules. (a) For the purposes hereof, whenever interest is calculated on the basis of a year of 360 or 365 days, each rate of interest or fee determined pursuant to such calculation expressed as an annual rate for the purposes of the Interest Act (Canada) is equivalent 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 360 or 365 days, respectively. The Borrower shall not plead or assert, whether by way of defense or otherwise, in any proceeding relating to this agreement and the other Credit Documents, that the interest payable under this agreement and the calculation thereof has not been adequately disclosed to it, whether pursuant to section 4 of the Interest Act (Canada) or any other Applicable Law or legal principle. (b) Interest on each Loan and on overdue interest thereon shall be payable in the currency in which such Loan is denominated during the relevant period. (c) If the Borrower fails to pay any principal, interest, fee or other amount (other than principal or interest) of any nature payable by it to the Administrative Agent or the Lenders hereunder or under any document, instrument or agreement delivered pursuant hereto on the due date therefor, the Borrower shall pay to the Administrative Agent or the Lenders, as the case may be, interest on such overdue amount in the same currency as such overdue amount is payable from and including such due date to but excluding the date of actual payment (as well after as before and after judgment) at the rate per annum, calculated and compounded monthly, which is equal to, at the time demand for such payment is made, the highest rate of interest payable pursuant to Section 6.1 plus 2% (i) without duplication of the additional 2.00% referred to in the case definition of a Term Benchmark Loan, Term SOFR Rate for "Margin" applicable during the Interest Period applicable thereto plus the Applicable Rate then in effect at all times that continuance of an Event of Default has occurred and is continuing and (ii) in the case of a Base Rate Loan, the Base Rate plus the Applicable Rate then in effect at all times that an Event of Default has occurred and is continuingDefault). Such interest on overdue amounts shall become due and be paid on demand made by the Administrative Agent. (d) No The Borrower confirms that it fully understands and is able to calculate the rates of interest and fees applicable to any amount payable hereunder based on the methodology for calculating per annum rates provided for in this Agreement. The Administrative Agent agrees that if requested in writing by the Borrower it will calculate the nominal and effective per annum rate of interest or fee fees on any amount payable hereunder at the time of such request and provide such information to be paid hereunder the Borrower promptly following such request; provided that any error in any such calculation, or any failure to provide such information on request, shall be paid at a rate exceeding not relieve the maximum rate Borrower of any of their obligations under this Agreement or any other Finance Document, nor result in any liability to the Administrative Agent or any Lender. To the extent permitted by Applicable Law. In , the event Borrower hereby irrevocably agrees not to plead or assert, whether by way of defence or otherwise, in any proceeding relating to this Agreement or any other Finance Document, that such interest or fee exceeds such maximum rate, such the interest or fees payable under this Agreement or any other Finance Document and the calculation thereof has not been adequately disclosed to the Borrower whether pursuant to section 4 of the Interest Act (Canada) or any other applicable law or legal principle. (e) In respect of any Canadian Obligor only: In no event shall the aggregate "interest" (as defined in Section 347 (the "Criminal Code Section") of the Criminal Code (Canada)), payable to any Lender under this Agreement or any other Credit Document exceed the effective annual rate of interest lawfully permitted under the Criminal Code Section on the "credit advanced" (as defined in such section) under this Agreement or any other Credit Document. Further, if any payment, collection or demand pursuant to this Agreement or any other Loan Document in respect of such "interest" is determined to be contrary to the provisions of the Criminal Code Section, such payment, collection, or demand shall be reduced deemed to have been made by mutual mistake of the Borrower and the Lender and such "interest" shall be deemed to have been adjusted with retroactive effect to the maximum amount or refundedrate of interest, as the case may be, as would not be so as prohibited by the Criminal Code Section to result in a receipt by such Lender of interest at a rate not in contravention of the Criminal Code Section, such adjustment to be payable effected, to the extent, as follows: (i) firstly, by reducing the amounts or rates of interest required to be paid to such Lender; and (ii) then, by reducing any fees, charges, expenses and other amounts required to be paid to the affected Lender which would constitute "interest". Notwithstanding the above, and after giving effect to all such adjustments, if any Lender shall have received an amount in excess of the maximum permitted by the Criminal Code Section, then the Borrower shall be entitled to obtain reimbursement from such Lender in an amount equal to such excess. For greater certainty, to the extent that any charges, fees or expenses are held to be within such meaning of "interest", such amounts shall be pro-rated over the period of time to which they relate or otherwise over the period from the date hereof to the date on which all of the Secured Obligations are irrevocably repaid. For certainty greater, and without limiting the generality of the foregoing, no Obligor shall be required to pay any interest or other amounts which would result in the receipt by any Lender of "interest" (as defined in the Criminal Code (Canada)) on credit advanced at a rate in excess of the highest rate recoverable permitted under Applicable Lawthe Criminal Code (Canada).

General Interest Rules. (a) For the purposes hereof, whenever interest is calculated on the basis of a year of 360 or 365 days, each rate of interest or fee determined pursuant to such calculation expressed as an annual rate for the purposes of the Interest Act (Canada) is equivalent 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 360 or 365 days, respectively. The Borrower Borrowers shall not plead or assert, whether by way of defense or otherwise, in any proceeding relating to this agreement and the other Credit Documents, that the interest payable under this agreement and the calculation thereof has not been adequately disclosed to it, whether pursuant to section 4 of the Interest Act (Canada) or any other Applicable Law or legal principle. (b) Interest on each Loan and on overdue interest thereon shall be payable in the currency in which such Loan is denominated during the relevant period. (c) If the Borrower fails Borrowers fail to pay any fee or other amount (other than principal or interest) of any nature payable by it to the Administrative Agent or the Lenders hereunder or under any document, instrument or agreement delivered pursuant hereto on the due date therefor, the Borrower Borrowers shall pay to the Administrative Agent or the Lenders, as the case may be, interest on such overdue amount in the same currency as such overdue amount is payable from and including such due date to but excluding the date of actual payment (as well before and after judgment) at the rate per annum, calculated and compounded monthly, which is equal to, (i) in the case of a Term Benchmark Loan, Term SOFR Rate for the Interest Period applicable thereto plus the Applicable Rate then in effect at all times that an Event of Default has occurred and is continuing and (ii) in the case of a Base Rate Loan, the Base Rate plus the Applicable Rate then in effect at all times that an Event of Default has occurred and is continuing. Such interest on overdue amounts shall become due and be paid on demand made by the Administrative Agent. (d) No interest or fee to be paid hereunder shall be paid at a rate exceeding the maximum rate permitted by Applicable Law. In the event that such interest or fee exceeds such maximum rate, such interest or fees shall be reduced or refunded, as the case may be, so as to be payable at the highest rate recoverable under Applicable Law.

General Interest Rules. (a) For the purposes hereof, whenever interest or Gold Funding Fees is calculated on the basis of a year of 360 or 365 days, each rate of interest or fee Gold Funding Fees determined pursuant to such calculation expressed as an annual rate for the purposes of the Interest Act INTEREST ACT (Canada) is equivalent 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 360 or 365 days, respectively. The Borrower shall not plead or assert, whether by way of defense or otherwise, in any proceeding relating to this agreement and the other Credit Documents, that the interest payable under this agreement and the calculation thereof has not been adequately disclosed to it, whether pursuant to section 4 of the Interest Act (Canada) or any other Applicable Law or legal principle. (b) Interest on each Loan (other than a Gold Loan) and on overdue interest thereon shall be payable in the currency in which such Loan (other than a Gold Loan) is denominated during the relevant period. Gold Funding Fees on each Gold Loan and on overdue Gold Funding Fees thereon shall be payable in U.S. dollars or Gold, as selected by the relevant Borrower in the applicable Drawdown Notice, Rollover Notice or Conversion Notice. (c) If the a Borrower fails to pay any fee or other amount (other than principal or interest) of any nature payable by it to the Administrative Agent or the Lenders hereunder (other than principal, interest or Gold Funding Fees) or under any document, instrument or agreement delivered pursuant hereto on the due date therefor, the such Borrower shall pay to the Administrative Agent or the relevant Lenders, as the case may be, interest on such overdue amount in the same currency as such overdue amount is payable from and including such due date to but excluding the date of actual payment (as well after as before and after judgment) at the rate per annum, calculated and compounded monthly, which is equal to, : (i) the Alternate Base Rate Canada plus 3% in the case of a Term Benchmark Loan, Term SOFR Rate for the Interest Period applicable thereto plus the Applicable Rate then overdue amounts denominated in effect at all times that an Event of Default has occurred and is continuing U.S. dollars; and (ii) the Prime Rate plus 3% in the case of a Base Rate Loan, the Base Rate plus the Applicable Rate then in effect at all times that an Event of Default has occurred and is continuingother overdue amounts. Such interest on overdue amounts shall become due and be paid on demand made by the Administrative Agent. (d) No interest or fee to be paid hereunder shall be paid at a rate exceeding the maximum rate permitted by Applicable Law. In the event that such interest or fee exceeds such maximum rate, such interest or fees shall be reduced or refunded, as the case may be, so as to be payable at the highest rate recoverable under Applicable Law.

General Interest Rules. (a) For the purposes hereof, whenever interest is calculated on the basis of a year of 360 days or 365 daysany other period of time that is less than a calendar year, each rate of interest or fee determined pursuant to such calculation expressed as an annual rate for the purposes of the Interest Act (Canada) is equivalent 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 360 days or 365 dayssuch other number of days in such period, respectively. The Borrower shall not plead or assert, whether by way of defense or otherwise, in any proceeding relating to this agreement and as the other Credit Documents, that the interest payable under this agreement and the calculation thereof has not been adequately disclosed to it, whether pursuant to section 4 of the Interest Act (Canada) or any other Applicable Law or legal principlecase may be. (b) Interest on each Loan and on overdue interest thereon shall be payable in the currency in which such Loan is denominated during the relevant period. (c) If the Borrower fails to pay any interest, fee or other amount (other than principal or interest) of any nature payable by it to the Administrative Agent or the Lenders hereunder or under any document, instrument or agreement delivered pursuant hereto on the due date therefor, the Borrower shall pay to the Administrative Agent or the Lenders, as the case may be, interest on such overdue amount in the same currency as such overdue amount is payable from and including such due date to but excluding the date of actual payment (as well after as before and after judgment) at the rate per annum, calculated and compounded monthly, which is equal to, (i) the highest rate of interest then applicable to any outstanding Loan in the case of a Term Benchmark Loan, Term SOFR Rate for the Interest Period applicable thereto plus the Applicable Rate then in effect at all times that an Event of Default has occurred and is continuing and (ii) in the case of a Base Rate Loan, the Base Rate plus the Applicable Rate then in effect at all times that an Event of Default has occurred and is continuingaccordance with Section 6.1. Such interest on overdue amounts shall become due and be paid on demand made by the Administrative Agent. (d) No In no event shall any interest or fee to be paid hereunder shall be paid at a rate exceeding exceed the maximum rate permitted by Applicable LawLaw (including, for certainty, Section 347 of the Criminal Code (Canada)) and the Borrower shall not be obligated to make any payment hereunder in excess of such rate. In the event that any such interest rate or fee exceeds such maximum rate, such interest or fees rate shall be reduced or refunded, as the case may be, so as adjusted downward to be payable at the highest rate recoverable (expressed as a percentage per annum) or fee that the parties could validly have agreed to by contract on the date hereof under Applicable Law.