Common use of Statement of Interest Rate Clause in Contracts

Statement of Interest Rate. For purposes of any legislation respecting the statement of interest rates, the yearly rate for a 365- or 366-day year, as the case may be, that can be stated to be equivalent to the rate specified in the Notes as being “computed on the basis of a 360-day year of twelve 30-day months” is the rate so specified, calculated and payable on a semi-annual basis; and the use of the term “360-day year of twelve 30-day months” is for matters of calculation of the semi-annual interest payments in respect of the Notes and does not alter the yearly rate described above.

Statement of Interest Rate. For purposes of any legislation respecting the statement of interest rates, the yearly rate for a 365- 365 - or 366-366 - day year, as the case may be, that can be stated to be equivalent to the rate specified in the Notes as being “computed on the basis of a 360-360 - day year of twelve 30-30 - day months” is the rate so specified, calculated and payable on a semi-semi - annual basisbasis ; and the use of the term “360-“ 360 - day year of twelve 30-30 - day months” is for matters of calculation of the semi-semi - annual interest payments in respect of the Notes and does not alter the yearly rate described aboveabove . 6.

Statement of Interest Rate. For purposes of any legislation respecting the statement of interest rates, the yearly rate for a 365- or 366-day year, as the case may be, that can be stated to be equivalent to the rate specified in the Notes as being “computed on the basis of a 360-day year of twelve 30-day months” is the rate so specified, calculated and payable on a quarterly or semi-annual basis, as applicable; and the use of the term “360-day year of twelve 30-day months” is for matters of calculation of the quarterly or semi-annual interest payments in respect of the Notes (as applicable) and does not alter the yearly rate described above.