Examples of Canadian Dollar Loans in a sentence
The mortgage agreements stipulate a minimum interest rate and a variable interest rate based on the Prime Rate for Canadian Dollar Loans established by HSBC (“Prime Rate”).
The facility provides the co-owners an option to borrow at either the prime rate of interest plus 1.00% or at bankers’ acceptances with a stamping fee of 2.00% ("Canadian Dollar Loans"), or at LIBOR plus 2.00%.
Each payment to the Administrative Agent with respect to the Canadian Dollar Loans (including, without limitation, the Canadian Dollar Lender’s fees or expenses) shall be made for the account of the Canadian Dollar Lender.
If the Administrative Agent or any Bank shall receive interest in respect of Canadian Dollar Loans in an amount that exceeds the Maximum Rate, the excess interest shall be applied to the principal of the applicable Loans or, if it exceeds such unpaid principal, refunded to the applicable Borrower.
Notwithstanding anything to the contrary contained in any Loan Document, the interest paid or agreed to be paid under the Loan Documents in respect of Canadian Dollar Loans (including Canadian Base Rate Loans) shall not exceed the maximum rate of non-usurious interest permitted by applicable law (the “Maximum Rate”).