Interest Act (Canada). For purposes of the Interest Act (Canada): (i) whenever any interest or fee under this Agreement is calculated on the basis of a period of time other than a calendar year, such rate used in such calculation, when expressed as an annual rate, is equivalent to (x) such rate, multiplied by (y) the actual number of days in the calendar year in which the period for which such interest or fee is calculated ends, and divided by (z) the number of days in such period of time, (ii) the principle of deemed reinvestment of interest shall not apply to any interest calculation under this Agreement, and (iii) the rates of interest stipulated in this Agreement are intended to be nominal rates and not effective rates or yields.
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Samples: Credit Agreement (Steel Dynamics Inc), Credit Agreement (Helios Technologies, Inc.), Credit Agreement (Helios Technologies, Inc.)
Interest Act (Canada). For purposes of the Interest Act (Canada): (i) whenever any interest or fee under this Agreement is calculated on the basis of a period of time other than a calendar year, such rate used in such calculation, when expressed as an annual rate, is equivalent to (x) such rate, multiplied by (y) the actual number of days in the calendar year in which the period for which such interest or fee is calculated ends, and divided by (z) the number of days in such period of time, (ii) the principle of deemed reinvestment of interest shall not apply to any interest calculation under this Agreement, and (iii) the rates of interest stipulated in this Agreement are intended to be nominal rates and not effective rates or yields.
Appears in 7 contracts
Samples: Credit Agreement (Mastech Digital, Inc.), Credit Agreement (Mastech Digital, Inc.), Credit Agreement (Mastech Digital, Inc.)
Interest Act (Canada). For purposes of the Interest Act (Canada): ), (ia) whenever any interest or fee under this Agreement is calculated using a rate based on the basis of a period of time other than a calendar year, year (the “Calculation Period”) each rate of interest determined pursuant to such rate used in such calculation, calculation when expressed as an annual rate, rate is equivalent to (x) such rate, rate as so determined multiplied by (y) the actual number of days in the calendar year in which the period for which such interest or fee same is calculated ends, to be ascertained and divided by (z) the number of days in such period of timethe Calculation Period, (iib) the principle of deemed reinvestment of interest shall does not apply to any interest calculation under this Agreement, Agreement and (iiic) the rates of interest stipulated in this Agreement are intended to be nominal rates and not effective rates or yields.
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Samples: Credit Agreement (Krispy Kreme, Inc.), Credit Agreement (Krispy Kreme, Inc.), Credit Agreement (Krispy Kreme, Inc.)
Interest Act (Canada). For purposes of the Interest Act (Canada): (i) whenever any interest or fee under this Agreement is calculated on the basis of a period of time other than a calendar year, such rate used in such calculation, when expressed as an annual rate, is equivalent to (x) such rate, multiplied by (y) the actual number of days in the calendar year in which the period for which such interest or fee is calculated ends, and divided by (z) the number of days in such period of time, (ii) the principle of deemed reinvestment of interest shall not apply to any interest calculation under this Agreement, and (iii) the rates of interest stipulated in this Agreement are intended to be nominal rates and not effective rates or yields.. 4.1.3
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