Common use of Maximum Return Clause in Contracts

Maximum Return. (a) In the event that any provision of this Agreement would oblige the Borrower to make any payment of interest or any other payment which is construed by a court of competent jurisdiction to be interest in an amount or calculated at a rate which would be prohibited by law or would result in a receipt by the Administrative Agent, the Lenders, or any of them, 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 nunc pro tunc to the maximum amount or rate of interest, as the case may be, as would not be so prohibited by law or so result in a receipt by the Administrative Agent, the Lenders, or any of them, of interest at a criminal rate, such adjustment to be effected, to the extent necessary, as follows: (i) firstly, by reducing the amount or rate of interest otherwise required to be paid under Article 4 of this Agreement; and (ii) thereafter, by reducing any fees, commissions, premiums and other amounts which would constitute interest for the purposes of Section 347 of the Criminal Code (Canada); (b) If, notwithstanding the provisions of this Section 4.11 and after giving effect to all adjustments contemplated thereby, the Administrative Agent, the Lenders, or any of them, shall have received an amount in excess of the maximum permitted by such clause, then such excess shall be applied by the Administrative Agent (on behalf of the Lenders) rateably in accordance with each Lenders’ Pro Rata Share of the Credits, to the reduction of the principal balance of the Borrowings outstanding and not to the payment of interest or if such excessive interest exceeds such principal balance, such excess shall be refunded to the Borrower; and (c) Any amount or rate of interest referred to in this Section shall be determined in accordance with generally accepted actuarial practices and principles at an effective annual rate of interest over the term of this Agreement on the assumption that any charges, fees or expenses that fall within the meaning of “interest” (as defined in the Criminal Code (Canada)) shall, if they relate to a specific period of time, be prorated over that period of time and otherwise be prorated over the terms of this Agreement and, in the event of dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Administrative Agent (on behalf of the Lenders) shall be conclusive for the purposes of such determination.

Maximum Return. (a) In the event that any provision of this Agreement would oblige the Borrower to make any payment of interest or any other payment which that is construed by a court of competent jurisdiction to be interest in an amount or calculated at a rate which that would be prohibited by law or would result in a receipt by the Administrative Agent, the Lenders, or any of them, Lender 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 nunc pro tunc to the maximum amount or rate of interest, as the case may be, as would not be so prohibited by law or so result in a receipt by the Administrative Agent, the Lenders, or any of them, Lender of interest at a criminal rate, such adjustment to be effected, to the extent necessary, as follows: (i) firstly, by reducing the amount or rate of interest otherwise required to be paid under Article 4 2 of this Agreement; and (ii) thereafter, by reducing any fees, commissions, premiums and other amounts which that would constitute interest for the purposes of Section 347 of the Criminal Code (Canada);. (b) If, notwithstanding the provisions of this Section 4.11 1.6 and after giving effect to all adjustments contemplated thereby, the Administrative Agent, the Lenders, or any of them, Lender shall have received an amount in excess of the maximum permitted by such clausethe Criminal Code (Canada), then such excess shall be applied by the Administrative Agent (on behalf of the Lenders) rateably in accordance with each Lenders’ Pro Rata Share of the Credits, Lender to the reduction of the principal balance of the Borrowings Loan outstanding and not to the payment of interest or if such excessive interest exceeds such principal balance, such excess shall be refunded to the Borrower; and. (c) Any amount or rate of interest referred to in this Section 1.6 shall be determined in accordance with generally accepted actuarial practices and principles at an effective annual rate of interest over the term of this Agreement on the assumption that any charges, fees or expenses that fall within the meaning of “interest” (as defined in the Criminal Code (Canada)) shall, if they relate to a specific period of time, be prorated over that period of time and otherwise be prorated over the terms of this Agreement and, in the event of dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Administrative Agent (on behalf of the Lenders) Lender shall be conclusive for the purposes of such determination.

Maximum Return. (a) 3.4.1 In no event will any interest, fees or other amounts payable under this Agreement exceed the event that maximum rate permitted by Applicable Law. If any provision provisions of this Agreement would oblige require the Borrower to make pay any payment of interest or make any other payment which that is construed by a court of competent jurisdiction to be interest in an amount or calculated at a rate which that would be prohibited by law Applicable Law or would result in a receipt by the Administrative Agent, the Lenders, or any of them, Lender of interest at a criminal rate (as such those terms are construed under the Criminal Code (Canada)Code), then notwithstanding such provisiondespite those provisions, such that amount or rate shall will be deemed to have been adjusted nunc pro tunc reduced to the maximum amount or rate of interestrecoverable under Applicable Law, as if the case may be, as would not be so prohibited Parties had agreed to that amount or rate by law or so result in a receipt by the Administrative Agent, the Lenders, or any of them, of interest at a criminal rate, such adjustment to contract. That reduction will be effected, to the extent necessary, as follows: (i) 3.4.1.1 firstly, by reducing the amount or rate of interest otherwise required to be paid under Article 4 3 of this Agreement; and (ii) thereafter3.4.1.2 secondly, by reducing any fees, commissions, premiums and other amounts which that would constitute interest for the purposes of Section 347 of the Criminal Code (Canada);Code. (b) 3.4.2 If, notwithstanding despite the provisions of this Section 4.11 3.4 and after giving effect to all adjustments contemplated therebyreductions under it, the Administrative Agent, the Lenders, or any of them, shall have Lender has received an amount or rate in excess of the maximum permitted by such clausethe Criminal Code, then such that excess shall will be applied by the Administrative Agent (on behalf of the Lenders) rateably in accordance with each Lenders’ Pro Rata Share of the Credits, Lender to the reduction of reduce the principal balance of the Borrowings Borrower’s Obligations outstanding and not to the payment of interest interest, with any remaining portion being paid to subsequent secured creditors or if such excessive interest exceeds such principal balance, such excess shall be refunded to the Borrower; andapplicable Obligors, as determined by Applicable Law. (c) 3.4.3 Any amount or rate of interest referred to in this Section shall 3.4 will be determined in accordance with generally accepted actuarial practices and principles at an effective annual rate of interest over the term of this Agreement on the assumption that any charges, fees fees, expenses or expenses other amounts that fall within the meaning of “interest” (as defined in the Criminal Code (Canada)Code) shallwill, if they relate to a specific period of time, be prorated over that period of time and otherwise be prorated over the terms term of this Agreement and, in the event of dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Administrative Agent (on behalf of the Lenders) shall Lender will be conclusive for the purposes of such that determination.

Maximum Return. (a) ‌ 10.5.1 In the event that any provision of this Agreement would oblige either of the Borrower Borrowers to make any payment of interest or any other payment which is construed by a court of competent jurisdiction to be interest in an amount or calculated at a rate which would be prohibited by law or would result in a receipt by the Administrative Agent, the Lenders, or any one of them, 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 nunc pro tunc to the maximum amount or rate of interest, as the case may be, as would not be so prohibited by law or so result in a receipt by the Administrative Agent, the Lenders, or any one of them, of interest at a criminal rate, such adjustment to be effected, to the extent necessary, as follows: (ia) firstly, by reducing the amount or rate of interest otherwise required to be paid under Article 4 Section 10.1 of this Agreement; and (iib) thereafter, by reducing any fees, commissions, premiums and other amounts which would constitute interest for the purposes of Section 347 of the Criminal Code (Canada);. (b) 10.5.2 If, notwithstanding the provisions of this Section 4.11 10.5 and after giving effect to all adjustments contemplated thereby, the Administrative Agent, the Lenders, or any one of them, shall have received an amount in excess of the maximum permitted by such clausethe Criminal Code (Canada), then such excess shall be applied by the Administrative Agent (on behalf of the Lenders) rateably in accordance with each Lenders’ Pro Rata Lender’s Proportionate Share of the CreditsLoans, to the reduction of the principal balance of the Borrowings outstanding Outstanding Advances and not to the payment of interest or if such excessive interest exceeds such principal balance, such excess shall be refunded to the Borrower; andBorrowers. (c) 10.5.3 Any amount or rate of interest referred to in this Section 10.5 shall be determined in accordance with generally accepted actuarial practices and principles at an effective annual rate of interest over the term of this Agreement on the assumption that any charges, fees or expenses that fall within the meaning of “interest” (as defined in the Criminal Code (Canada)) shall, if they relate to a specific period of time, be prorated over that period of time and otherwise be prorated over the terms term of this Agreement and, in the event of dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Administrative Agent (on behalf of the Lenders) shall be conclusive for the purposes of such determination.

Maximum Return. (a) 3.4.1 In no event will any interest, fees or other amounts payable under this Agreement exceed the event that maximum rate permitted by Applicable Law. If any provision provisions of this Agreement would oblige require the Borrower to make pay any payment of interest or make any other payment which that is construed by a court of competent jurisdiction to be interest in an amount or calculated at a rate which that would be prohibited by law Applicable Law or would result in a receipt by the Administrative Agent, the Lenders, or any of them, Lender of interest at a criminal rate (as such those terms are construed under the Criminal Code (Canada)Code), then notwithstanding such provisiondespite those provisions, such that amount or rate shall will be deemed to have been adjusted nunc pro tunc reduced to the maximum amount or rate of interestrecoverable under Applicable Law, as if the case may be, as would not be so prohibited Parties had agreed to that amount or rate by law or so result in a receipt by the Administrative Agent, the Lenders, or any of them, of interest at a criminal rate, such adjustment to contract. That reduction will be effected, to the extent necessary, as follows: (i) 3.4.1.1 firstly, by reducing the amount or rate of interest otherwise required to be paid under Article 4 3 of this Agreement; and (ii) thereafter3.4.1.2 secondly, by reducing any fees, commissions, premiums and other amounts which that would constitute interest for the purposes of Section 347 of the Criminal Code (Canada);Code. (b) 3.4.2 If, notwithstanding despite the provisions of this Section 4.11 3.4 and after giving effect to all adjustments contemplated therebyreductions under it, the Administrative Agent, the Lenders, or any of them, shall have Lender has received an amount or rate in excess of the maximum permitted by such clausethe Criminal Code, then such that excess shall will be applied by the Administrative Agent (on behalf of the Lenders) rateably in accordance with each Lenders’ Pro Rata Share of the Credits, such Lender to the reduction of reduce the principal balance of the Borrowings Borrower’s Obligations outstanding and not to the payment of interest interest, with any remaining portion being paid to subsequent secured creditors or if such excessive interest exceeds such principal balance, such excess shall be refunded to the Borrower; andapplicable Obligors, as determined by Applicable Law. (c) 3.4.3 Any amount or rate of interest referred to in this Section shall 3.4 will be determined in accordance with generally accepted actuarial practices and principles at an effective annual rate of interest over the term of this Agreement on the assumption that any charges, fees fees, expenses or expenses other amounts that fall within the meaning of “interest” (as defined in the Criminal Code (Canada)Code) shallwill, if they relate to a specific period of time, be prorated over that period of time and otherwise be prorated over the terms term of this Agreement and, in the event of dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Administrative Agent (on behalf of the Lenders) shall Required Lenders will be conclusive for the purposes of such that determination.

Maximum Return. (a) 3.4.1 In no event will any interest, fees or other amounts payable under this Agreement exceed the event that maximum rate permitted by Applicable Law. If any provision provisions of this Agreement would oblige require the Borrower to make pay any payment of interest or make any other payment which that is construed by a court of competent jurisdiction to be interest in an amount or calculated at a rate which that would be prohibited by law Applicable Law or would result in a receipt by the Administrative Agent, the Lenders, or any of them, Lender of interest at a criminal rate (as such those terms are construed under the Criminal Code Code, R.S.C. 1985, c. C-46 (Canada)the “Criminal Code”), then notwithstanding such provisiondespite those provisions, such that amount or rate shall will be deemed to have been adjusted nunc pro tunc reduced to the maximum amount or rate of interestrecoverable under Applicable Law, as if the case may be, as would not be so prohibited Parties had agreed to that amount or rate by law or so result in a receipt by the Administrative Agent, the Lenders, or any of them, of interest at a criminal rate, such adjustment to contract. That reduction will be effected, to the extent necessary, as follows: (i) 3.4.1.1 firstly, by reducing the amount or rate of interest otherwise required to be paid under Article 4 3 of this Agreement; and (ii) thereafter3.4.1.2 secondly, by reducing any fees, commissions, premiums and or other amounts which that would constitute interest for the purposes of Section 347 of the Criminal Code (Canada);Code. (b) 3.4.2 If, notwithstanding despite the provisions of this Section 4.11 3.4 and after giving effect to all adjustments contemplated therebyreductions under it, the Administrative Agent, the Lenders, or any of them, shall have Lender has received an amount or rate in excess of the maximum permitted by such clausethe Criminal Code, then such that excess shall will be applied by the Administrative Agent (on behalf of the Lenders) rateably in accordance with each Lenders’ Pro Rata Share of the Credits, Lender to the reduction of reduce the principal balance of the Borrowings Borrower’s Obligations outstanding and not to the payment of interest interest, with any remaining portion being paid to subsequent secured creditors or if such excessive interest exceeds such principal balance, such excess shall be refunded to the Borrower; and, as determined by Applicable Law. (c) 3.4.3 Any amount or rate of interest referred to in this Section shall 3.4 will be determined in accordance with generally accepted actuarial practices and principles at an effective annual rate of interest over the term of this Agreement on the assumption that any charges, fees fees, expenses or expenses other amounts that fall within the meaning of “interest” (as defined in the Criminal Code (Canada)Code) shallwill, if they relate to a specific period of time, be prorated over that period of time and otherwise be prorated over the terms term of this Agreement and, in the event of dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Administrative Agent (on behalf of the Lenders) shall Lender will be conclusive for the purposes of such that determination.