Bonus Interest. In addition to Base Interest, Borrower shall pay Lender additional interest on the outstanding principal balance of the Loans at an annual rate of 5.3% ("BONUS INTEREST"), which shall be due and payable with respect to the Current Quarter within 30 days of the close of the Current Quarter to the extent of Cash Available for Debt Service for the Current Quarter only after payment of Base Interest for the Current Quarter. Bonus Interest which is unpaid shall accrue without further interest and shall not be added to the outstanding principal balance of the Loans or be considered in calculating Base Interest. Accrued Bonus Interest shall be payable quarterly solely from Cash Available for Debt Service for the Current Quarter only after payment of Base Interest and Bonus Interest for the Current Quarter. Anything to the contrary herein notwithstanding, the aggregate Bonus Interest payable under this Agreement shall in no event exceed the Cash Available for Debt Service on or before the Maturity Date after payment of all accrued Base Interest, and any Accrued Bonus Interest which is not paid from Cash Available for Debt Service on or before the Maturity Date shall not be due or payable.
Bonus Interest. In consideration of the maintenance and continuation of the Credit Facility and the Advance hereunder, and the extension of the Credit Facility Maturity Date (which the Borrower acknowledges that it and each other Loan Party will receive benefit from), and concurrent with the Effective Date, the Borrower will pay bonus interest to the Lenders in the amount of $1,875,000 (the "Bonus Interest") net of any and all applicable withholding taxes, being 3.75% of the aggregate total of the Commitments as of the Effective Date, payable in the form of 2,091,700 common shares in the capital of the Borrower (the "Bonus Shares"). The Canadian dollar equivalent of the Bonus Interest will be determined by multiplying the amount of $1,875,000 by the daily average exchange rate for the conversion of U.S. to Canadian dollars set by the Bank of Canada as at the Business Day immediately prior to the date of issuance of the Bonus Shares. The Bonus Shares shall be payable to each Lender, or as such Lender may direct in writing, on a pro rata basis in accordance with each Lender’s Commitment and shall be subject to a hold period under applicable Canadian legislation of four months and one day from their date of issue and not less than six months from their date of issue under applicable U.S. law. Each Lender understands and agrees that the Bonus Shares have not been registered under the United States Securities Act and may not be offered or sold in the United States or to any U.S. Person unless the securities are registered under the United States Securities Act or an exemption from the registration requirements of the United States Securities Act is available and that Borrower will refuse to transfer the Bonus Shares except in accordance with the foregoing provisions. As a condition precedent to the issue of the Bonus Shares, the Borrower shall have received an investor certificate from each Lender in the form attached hereto as Schedule "Y".
Bonus Interest. In consideration of the maintenance and continuation of the Credit Facility, the relaxation and amendment of certain covenants as set out hereunder, and the extension of the Credit Facility Maturity Date (which the Borrower acknowledges that it and each other Loan Party will receive benefit from), and concurrent with the Effective Date, the Borrower will pay bonus interest to the Lenders in the amount of $500,000 (the "Bonus Interest") net of any and all applicable withholding taxes, being 1.00% of the aggregate total of the Commitments as of the Effective Date, payable in the form of 588,235 common shares in the capital of the Borrower (the "Bonus Shares"). The Canadian dollar equivalent of the Bonus Interest will be determined by multiplying the amount of $500,000 by the daily average exchange rate for the conversion of U.S. to Canadian dollars set by the Bank of Canada as at the Business Day immediately prior to the date of issuance of the Bonus Shares. The Bonus Shares shall be payable to Sprott Resource Lending II (Collector), LP, or as Sprott Resource Lending II (Collector), LP may direct in writing, in accordance with its Commitment and shall be subject to a hold period under applicable Canadian legislation of four months and one day from their date of issue and not less than six months from their date of issue under applicable U.S. law. For certainty, Evanachan Limited has waived any requirement for or entitlement to any additional interest whether in the form of Bonus Interest or otherwise. Sprott Resource Lending II (Collector), LP understands and agrees that the Bonus Shares have not been registered under the United States Securities Act and may not be offered or sold in the United States or to any U.S. Person unless the securities are registered under the United States Securities Act or an exemption from the registration requirements of the United States Securities Act is available and that Borrower will refuse to transfer the Bonus Shares except in accordance with the foregoing provisions. As a condition precedent to the issue of the Bonus Shares, the Borrower shall have received an investor certificate from each Lender in the form attached hereto as Schedule "Y".
Bonus Interest. If you maintain an average ledger cycle-to-date balance of $10,000 or more in a Simple Business Checking account or in a Commercial Checking account, you will receive a bonus interest rate of 10 basis points above the current offered market rate for the Premier Business Money Market account. This bonus interest rate is subject to change without notice. Please allow three businessdays for initial enrollment into the bonus rate program. Once enrolled in the bonus rate program, your account will be evaluated for the interest rate adjustment three days prior to the statement cycle date. If the account meets eligibility criteria to receive the bonus interest rate, it will be applied for the following cycle. For more information, please speak with your account officer. **For savings and/or money market accounts, you are permitted to make up to sixtransfers and withdrawals or any combination thereof per statement cycle (or similar period of at least 4 weeks) by means of a preauthorized or automatic transfer, withdrawal by check, draft, debit card or transfer or withdrawal by online bill pay or telephonically. These limitations are applied according to the date when the transaction is posted to the account and not the date when the check is written or the transfer is authorized. The limits do not apply t o withdrawals made at a branch, by ATM or by mail. If these limits are exceeded on 3 monthly statement cycles during a period of 12 consecutive months, the account will be reclassified as a non-interest bearing Popular Business Checking Account.
Bonus Interest. If you maintain an average ledger cycle-to-date balance of $10,000 or more in a Commercial Checking account, you will receive a bonus interest rate of 10 basis points above the current offered market rate for the Premier Business Money Market account. This bonus interest rate is subject to change without notice. Please allow three business days for initial enrollment into the bonus rate program. Once enrolled in the bonus rate program, your account will be evaluated for the interest rate adjustment three days prior to the statement cycle date. If the account meets eligibility criteria to receive the bonus interest rate, it will be applied for the following cycle. For more information, please speak with your account officer. ** For savings and/or money market accounts, you are permitted to make up to six transfers and withdrawals or any combination thereof per statement cycle (or similar period of at least 4 weeks) by means of a preauthorized or automatic transfer, withdrawal by check, draft, debit card or transfer or withdrawal by online bill pay or telephonically. These limitations are applied according to the date when the transaction is posted to the account and not the date when the check is written or the transfer is authorized. The limits do not apply to withdrawals made at a branch, by ATM or by mail.
Bonus Interest. Should the Company complete a transaction for the sale of substantially all of the assets or stock of the Company prior to the Maturity Date, the Holder shall be entitled to bonus interest of fifty percent (50%) of the face amount of the Note.
Bonus Interest. So long as any portion of the Note remains outstanding the Company shall pay to the Holder an amount equal to one-third (1/3) of Excess Cash Flow for such calendar quarter.
