Interest Rate and Payment. The principal amount of the Loan shall bear interest from the date of the Note until the Maturity Date (unless otherwise accelerated as provided herein) at a rate per annum equal to the minimum interest rate necessary to avoid income imputation under the Internal Revenue Code as of the date of the Note. Interest shall be due and payable on the Maturity Date.
Interest Rate and Payment. The outstanding principal balance of this Note shall accrue interest at the rate of ten percent (10%) per annum. Accrued interest under this Note shall be due and payable on the Maturity Date.
Interest Rate and Payment. (a) Subject to Sections 4.10 and 5.6 hereof, interest payable on this Note shall accrue at a rate per annum (the “Interest Rate”) equal to the “prime rate” published in The Wall Street Journal from time to time, plus one and three-quarters percent (1.75%). The prime rate shall be increased or decreased as the case may be for each increase or decrease in the prime rate in an amount equal to such increase or decrease in the prime rate; each change to be effective as of the day of the change in such rate. The Interest Rate shall not be less than five and three-quarters percent (5.75%) unless the Company shall be in compliance with Section 2.2 hereof. If the Company has satisfied the requirements of Section 2.2 hereof, the Interest Rate will be subject to adjustment as set forth in Section 1.1(b). In no event, however, shall the Interest Rate be less than zero percent (0.0%). Interest shall be payable monthly in arrears commencing on April 1, 2004, on the first day of each consecutive calendar month thereafter (each, a “Repayment Date”), and on the Maturity Date, whether by acceleration or otherwise.
Interest Rate and Payment. Subject to Sections 4.10 and 5.6 hereof, interest payable on this Note shall accrue at a rate of seven percent (7%) per annum (the "INTEREST RATE"). Subject to the provisions of Articles II and III hereof, interest shall be payable in cash, monthly in arrears commencing on January 2, 2004 ("Monthly Interest Amount"), on the first day of each consecutive calendar month thereafter and on the Maturity Date, whether by acceleration or otherwise.
Interest Rate and Payment. The Applicant unconditionally promises and agrees to pay, as and when due, interest on all amounts advanced hereunder from the date of each Advance and to repay all amounts advanced hereunder with interest on the Maturity Date. Interest shall be due and payable quarterly on the first day of each January, April, July and October, commencing on the first such date after such initial Advance; except that if RTFC gives notice thereof to the Applicant before the first day of any month, interest shall thereafter be due and payable on the 15th day of such month and each month thereafter. RTFC shall invoice the Applicant at least five days prior to the due date of any such interest payment. All amounts shall be payable at RTFC's main office at Woodland Park, 2201 Xxxxxxxxxxx Xxx, Xxxxxxx, Xxxxxxxx 00000-0000 xx at such other location as designated by RTFC from time to time. The interest rate on all Advances will be equal to the Prevailing Bank Prime Rate (as defined herein), plus one and one-half percent per annum or such lesser total rate per annum as may be fixed by RTFC from time to time. Interest will be computed on the basis of a year of 365 days. The interest rate will be adjusted as determined from time to time by RTFC, provided that no such adjustment may be effective on a date other than
Interest Rate and Payment. The Note shall be payable and bear interest as follows. The Borrower, promptly upon receipt of an invoice, shall pay interest only on the Advances on or before the last day of each of the months referred to in Schedule l hereto (each such date being herein called a "Payment Date") until the first Payment Date of the first full quarter following the earlier of (a) the date two years from the date hereof or (b) the date on which the CFC Commitment has been fully advanced (the earlier of such dates being herein called the "Amortization Basis Date"). Thereafter, quarterly or monthly installments, as determined by CFC, of principal and interest in the amounts shown in the Payment Notice (described below), shall be paid on each Payment Date; except that if not sooner paid, any balance of the principal amount and interest accrued thereon shall be due and payable on the Maturity Date (as that term is defined in the Note). On or after the Amortization Basis Date, and thereafter at least quarterly, CFC will furnish to the Borrower a Payment Notice indicating the precise amount of each payment of principal and interest, and the total amount of each such payment. Such Payment Notice shall be sent to the Borrower at least ten (10) days before the next ensuing Payment Date. Principal will be amortized in accordance with the method stated in Schedule l hereto. CFC will use for the purpose of calculating the amortization of principal of each Advance: (a) the fixed interest rate in effect on the date of such Advance, if the Borrower elected a fixed rate; or (b) the variable interest rate in effect on the first day of the first quarter in which principal is due, if the Borrower elected a variable rate. Each payment shall be applied first to any charges then due, second to interest accrued on the principal amount to the due date of such payment (or, at the election of the holder of the Note, to the date of such payment if the same is not paid on its due date) and the balance to the reduction of principal. Prior to the first Advance of this loan. the Borrower must elect in writing either a fixed interest rate or a variable interest rate. Interest shall be computed for the actual number of days elapsed on the basis of a year of 365 days, until the first day of the complete calendar quarter following the Amortization Basis Date. Thereafter, if the loan bears interest at a fixed rate, interest shall be computed on the basis of a 360-day year. If the loan bears interest at a vari...
Interest Rate and Payment. Borrower further promises to pay interest on the outstanding Loan amount, which interest shall accrue from the date hereof and shall be added to the principal balance of the Loan. Interest shall accrue on the sum of the daily unpaid principal balance of the Loan outstanding on each day in lawful money of the United States of America, from the Effective Date until all such principal amounts shall have been paid in full, which interest shall accrue at a rate equal to eight percent (8%) per annum. Interest shall be compounded quarterly and computed at the above rate on the basis of the actual number of days elapsed year of 365 days; provided, however, that in no event shall Borrower be bound to pay for the use or forbearance of the money loaned pursuant hereto, interest of more than the maximum rate permitted by law to be charged by Lender; the right to demand any such excess being hereby expressly waived by Lender. All accrued and unpaid interest attributable to the principal amount of the Loan then being paid shall be payable concurrently with such payment of principal, whether in connection with any prepayment, on the Maturity Date or otherwise.
Interest Rate and Payment. The Loan shall bear interest on the unpaid principal amount thereof from the date made through maturity (whether at the Maturity Date, by acceleration or otherwise) at the Applicable Rate. All accrued and unpaid interest on the Loan shall be compounded annually and payable on the Maturity Date. Interest on the Loan shall be computed on the basis of a 360-day year for the actual number of days elapsed. In computing interest on the Loan, the date of the making of the Loan shall be included and the date of payment of the Loan shall be excluded.
Interest Rate and Payment. Each Note shall be payable and bear interest as follows:
Interest Rate and Payment. (a) Subject to Sections 4.9 and 5.6 hereof, interest payable on this Note shall accrue at a rate per annum (the "Interest Rate") equal to the "prime rate" published in The Wall Street Journal from time to time, plus one (1%). The prime rate shall be increased or decreased as the case may be for each increase or decrease in the prime rate in an amount equal to such increase or decrease in the prime rate; each change to be effective as of the day of the change in such rate. Subject to adjustment as set forth in Section 1.1(b), in no event shall the prime rate be less than percent (4.00%) subject to the provisions of Section 1.2 as regards Tranche B (as hereinafter defined), interest shall be payable monthly in arrears commencing on April 1, 2004, and on the first day of each consecutive calendar month thereafter (each, a "Repayment Date"), and on the Maturity Date.
