Common use of Interest Act Clause in Contracts

Interest Act. For purposes of disclosure pursuant to the Interest Act (Canada), the annual rates of interest provided in this Eighth Supplemental Indenture (and stated herein to be computed on the basis of a 365 day year or any other period of time less than a calendar year) are equivalent to the rates so determined multiplied by the actual number of days in the applicable calendar year and divided by 365 or such other period of time, as the case may be.

Appears in 2 contracts

Sources: Trust Indenture (American Honda Finance Corp), Trust Indenture (American Honda Finance Corp)

Interest Act. For purposes of disclosure pursuant to the Interest Act (Canada), the annual rates of interest provided in this Eighth First Supplemental Indenture (and stated herein to be computed on the basis of a 365 day year or any other period of time less than a calendar year) are equivalent to the rates so determined multiplied by the actual number of days in the applicable calendar year and divided by 365 or such other period of time, as the case may be.

Appears in 2 contracts

Sources: Trust Indenture (American Honda Finance Corp), Trust Indenture (American Honda Finance Corp)

Interest Act. For purposes of disclosure pursuant to the Interest Act (Canada), the annual rates of interest provided in this Eighth Third Supplemental Indenture (and stated herein to be computed on the basis of a 365 day year or any other period of time less than a calendar year) are equivalent to the rates so determined multiplied by the actual number of days in the applicable calendar year and divided by 365 or such other period of time, as the case may be.

Appears in 2 contracts

Sources: Trust Indenture (American Honda Finance Corp), Trust Indenture (American Honda Finance Corp)