Common use of Interest Rate Provision Clause in Contracts

Interest Rate Provision. If any provision of the Agreement would oblige you to make a payment of interest or other amount payable to us in an amount or calculated at a rate which would be prohibited by law or would result in receipt by us of “interest” at a “criminal rate” (as such terms are construed under the Criminal Code (Canada)), then, notwithstanding such provision, such amount or rate shall be deemed to have been adjusted with retroactive effect to the maximum amount or rate of interest, as the case may be, as would not result in receipt by us of “interest” at a “criminal rate”, such adjustment to be effected, to the extent necessary (but only to the extent necessary), by reducing (i) any fees, commissions, premiums, and other amounts required to be paid to or on behalf of us which would constitute interest for purposes of the Criminal Code (Canada), or (ii) the amount or rate of interest required to be paid to us, as elected by us, and any amount previously paid by you which is included in such reduction shall be returned to you.

Interest Rate Provision. If any provision of the Credit Agreement would oblige you to make a payment of interest or other amount payable to us in an amount or calculated at a rate which that would be prohibited by law or would result in receipt by us of “interest” at a “criminal rate” (as such terms are construed under the Criminal Code (Canada)), then, notwithstanding such provision, such amount or rate shall be deemed to have been adjusted with retroactive effect to the maximum amount or rate of interest, as the case may be, as would not result in receipt by us of “interest” at a “criminal rate”, ” such adjustment to be effected, to the extent necessary (but only to the extent necessary), by reducing (i) reducing: • any fees, commissions, premiums, and other amounts required to be paid to or on behalf of us which that would constitute interest for purposes of the Criminal Code (Canada), ; or (ii) • the amount or rate of interest required to be paid to us, as elected by us, and any amount previously paid by you which that is included in such reduction shall be returned to you.

Interest Rate Provision. If any provision of the this High-Cost Credit Agreement would oblige require you to make a payment of interest or other amount payable to us in an amount amount, or calculated at a rate which would be prohibited by law law, or would result in receipt by us of “interest” at a “criminal rate” (as such terms are construed under the Criminal Code (of Canada)), then, notwithstanding such provision, such amount or rate shall be deemed to have been adjusted with retroactive effect to the maximum amount or rate of interest, as the case may be, as would not result in receipt by us of “interest” at a “criminal rate”, such adjustment to be effected, to the extent necessary (but only to the extent necessary), by reducing (ia) any fees, commissions, premiums, and other amounts required to be paid to or on behalf of us by you which would constitute interest for purposes of the Criminal Code (Canada), or (iib) the amount or rate of interest required to be paid to us, as elected by us, and any amount amounts previously paid by you which is included in such reduction shall be returned to you.

Interest Rate Provision. If any provision of the Agreement would oblige you to make a require the payment of interest or other amount payable to us in an amount or calculated at a rate which would be prohibited by law or would result in receipt by us of “interest” at a “criminal rate” (as such terms are construed under the Criminal Code (Canada)), then, notwithstanding such provision, such amount or rate shall be deemed to have been adjusted with retroactive effect to the maximum amount or rate of interest, as the case may be, as would not result in receipt by us of “interest” at a “criminal rate”, such adjustment to be effected, to the extent necessary (but only to the extent necessary), by reducing (i) any fees, commissions, premiums, and other amounts required to be paid to or on behalf of us which would constitute interest for purposes of the Criminal Code (Canada), or (ii) the amount or rate of interest required to be paid to us, as elected by us, and any amount previously paid by you the Business which is included in such reduction shall be returned to youreturned.