Contract Rate. Subject to Sections 2.2 and 3.9, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to the “prime rate” published in The Wall Street Journal from time to time (the “Prime Rate”), plus two percent (2%) (the “Contract Rate”). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight percent (8%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March 1, 2008, on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 4 contracts
Samples: Secured Term Note (New Century Energy Corp.), Secured Term Note (New Century Energy Corp.), New Century Energy Corp.
Contract Rate. Subject to Sections 2.2 4.2 and 3.95.10, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to the “prime rate” published in The Wall Street Journal from time to time (the “Prime Rate”), plus two percent (2%) (the “Contract Rate”). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight nine percent (89%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March December 1, 20082007, on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 2 contracts
Contract Rate. Subject to Sections 2.2 4.2 and 3.95.10, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to the “prime rate” published in The Wall Street Journal from time to time (the “Prime Rate”), plus two and one-half of one percent (22.5%) (the “Contract Rate”). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight nine percent (89%) or more than thirteen percent (13%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March September 1, 20082007, on the first business day Business Day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 2 contracts
Samples: Other Companies (ProLink Holdings Corp.), Other Companies (ProLink Holdings Corp.)
Contract Rate. Subject to Sections 2.2 and 3.9, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to the “prime rate” published in The Wall Street Journal from time to time (the “Prime Rate”), plus two percent (22.0%) (the “Contract Rate”). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight nine and three-quarters percent (89.75%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March November 1, 20082007, on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 2 contracts
Contract Rate. Subject to Sections 2.2 4.2 and 3.95.10, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to the “prime rate” published in The Wall Street Journal from time to time (the “Prime Rate”), plus two three and one-half of one percent (23.5%) (the “Contract Rate”). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight eleven percent (811%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March November 1, 20082007, on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 2 contracts
Samples: General Environmental Management, Inc, General Environmental Management, Inc
Contract Rate. Subject to Sections 2.2 4.2 and 3.95.10, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to the greater of (i) “prime rate” published in The Wall Street Journal from time to time (the “Prime Rate”), plus two four percent (24.0%) and (ii) ten percent (10.0%) (the “Contract Rate”). The Contract 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 the Prime Rate. The Subject to Section 1.2, the Contract Rate shall not at any time be less than eight ten percent (810.0%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March 1May 4, 20082005, on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 2 contracts
Samples: Accentia Biopharmaceuticals Inc, Accentia Biopharmaceuticals Inc
Contract Rate. Subject to Sections 2.2 3.2 and 3.94.10, interest payable on the outstanding principal amount of this Note (the “"Principal Amount”") shall accrue at a rate per annum equal to the “"prime rate” " published in The Wall Street Journal from time to time (the “"Prime Rate”"), plus two percent (22.0%) (the “"Contract Rate”"). The Contract 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 the Prime Rate. The Subject to Section 1.2, the Contract Rate shall not at any time be less than eight six percent (86.0%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March May 1, 2008, 2005 on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Samples: Farmstead Telephone Group Inc
Contract Rate. Subject to Sections 2.2 and 3.9, interest payable on the outstanding principal amount of this Note (the “"Principal Amount”") shall accrue at a rate per annum equal to the “"prime rate” " published in The Wall Street Journal from time to time (the “"Prime Rate”"), plus two one percent (21.0%) (the “"Contract Rate”"). The Contract 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 the Prime Rate. The Subject to Section 1.2, the Contract Rate shall not at any time be less than eight percent (88.0%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March 1, 2008, 2006 on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Samples: Netfabric Holdings, Inc
Contract Rate. Subject to Sections 2.2 4.2 and 3.95.10, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to the “prime rate” published in The Wall Street Journal from time to time (the “Prime Rate”), plus two percent (22.0%) (the “Contract Rate”). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight percent (88.0%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March February 1, 20082006, on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Contract Rate. Subject to Sections 2.2 3.2 and 3.94.10, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to the “prime rate” published in The Wall Street Journal from time to time (the “Prime Rate”), plus two percent (22.0%) (the “Contract Rate”). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight percent (88.0%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March 1, 2008, 2006 on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Samples: Small World Kids Inc
Contract Rate. Subject to Sections 2.2 4.2 and 3.95.10, interest payable on the outstanding principal amount of this Note (the “"Principal Amount”") shall accrue at a rate per annum equal to the “"prime rate” " published in The Wall Street Journal from time to time (the “"Prime Rate”"), plus two percent (22.0%) (the “"Contract Rate”"). The Contract 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 the Prime Rate. The Subject to Section 1.2, the Contract Rate shall not at any time be less than eight percent (88.0%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March August 1, 20082005, on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Samples: On the Go Healthcare Inc
Contract Rate. Subject to Sections 2.2 and 3.9, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to the “prime rate” published in The Wall Street Journal from time to time (the “Prime Rate”), plus two one and one half percent (21.50%) (the “Contract Rate”). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight nine percent (89.0%)) per annum and no more than twelve and one half percent (12.5%) per annum. Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March September 1, 2008, 2007 on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Samples: Chad Therapeutics Inc
Contract Rate. Subject to Sections 2.2 3.2 and 3.94.10, interest payable on the outstanding principal amount of this Note (the “"Principal Amount”") shall accrue at a rate per annum equal to the “"prime rate” " published in The Wall Street Journal from time to time (the “"Prime Rate”"), plus two percent (2%) (the “"Contract Rate”"). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight percent (88.0%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March 17, 2008, 2008 on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Samples: Gse Systems Inc
Contract Rate. Subject to Sections 2.2 4.2 and 3.95.10, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to the “prime rate” published in The Wall Street Journal from time to time (the “Prime Rate”), plus two one percent (21%) (the “Contract Rate”). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight seven percent (87%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March September 1, 20082006, on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Samples: Patients & Physicians, Inc.
Contract Rate. Subject to Sections 2.2 3.2 and 3.94.10, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to the “prime rate” published in The Wall Street Journal from time to time (the “Prime Rate”), plus two percent (22.0%) (the “Contract Rate”). The Contract 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 the Prime Rate. The Subject to Section 1.2, the Contract Rate shall not at any time be less than eight percent (88.0%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March July 1, 2008, 2005 on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.. . 06/30/2005
Appears in 1 contract
Samples: 360 Global Wine Co
Contract Rate. Subject to Sections 2.2 and 3.9, interest payable on the outstanding principal amount of this Note (the “"Principal Amount”") shall accrue at a rate per annum equal to the “"prime rate” " published in The Wall Street Journal from time to time (the “"Prime Rate”"), plus two one and three-quarter percent (21.75%) (the “"Contract Rate”"). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight nine percent (89.0%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March September 1, 2008, 2007 on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Samples: Tarpon Industries, Inc.
Contract Rate. Subject to Sections 2.2 4.2 and 3.95.10, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to the “prime rate” published in The Wall Street Journal from time to time (the “Prime Rate”), plus two percent (2%) (the “Contract Rate”). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight and one-quarter of one percent (88.25%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March September 1, 2008, 2005 on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, Date and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Contract Rate. Subject to Sections 2.2 and 3.93.10, interest payable on the outstanding principal amount of this Note (the “"Principal Amount”") shall accrue at a rate per annum equal to the “"prime rate” " published in The Wall Street Journal from time to time (the “"Prime Rate”"), plus two percent (2%) (the “"Contract Rate”"). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight percent (8%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March August 1, 2008, 2005 on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Samples: On the Go Healthcare Inc
Contract Rate. Subject to Sections 2.2 3.2 and 3.94.10, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to the “prime rate” published in The Wall Street Journal from time to time (the “Prime Rate”), plus two percent (22.0%) (the “Contract Rate”). The Contract 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 the Prime Rate. The Subject to Section 1.2, the Contract Rate shall not at any time be less than eight six percent (86.0%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March February 1, 2008, 2006 on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Samples: Naturade Inc
Contract Rate. Subject to Sections 2.2 and 3.9, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to the “prime rate” published in The Wall Street Journal from time to time (the “Prime Rate”), plus two three percent (23.00%) (the “Contract Rate”). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight nine percent (89.00%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March 1, 2008the first day of the first month following the initial Revolving Loan, on the first business day Business Day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Samples: Other Companies (Rapid Link Inc)
Contract Rate. Subject to Sections 2.2 4.2 and 3.95.10, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to the “prime rate” published in The Wall Street Journal from time to time (the “Prime Rate”), plus two percent (2%) (the “Contract Rate”). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight nine percent (89%) or more than thirteen percent (13%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March September 1, 20082007, on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Samples: ProLink Holdings Corp.
Contract Rate. Subject to Sections 2.2 and 3.9, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to the “prime rate” published in The Wall Street Journal from time to time (the “Prime Rate”), plus two and one-half percent (22.50%) (the “Contract Rate”). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight ten percent (810.00%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March July 1, 2008, 2007 on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Samples: Elandia International Inc.
Contract Rate. Subject to Sections 2.2 4.2 and 3.95.10, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to the “prime rate” published in The Wall Street Journal from time to time (the “Prime Rate”), plus two and one half percent (22.5%) (the “Contract Rate”). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight nine percent (89.0%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March 1, 2008, 2006 on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, Date and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Samples: Micro Component Technology Inc
Contract Rate. Subject to Sections 2.2 and 3.9, interest payable on the outstanding principal amount of this Note (the “Principal Amount”"PRINCIPAL AMOUNT") shall accrue at a rate per annum equal to the “"prime rate” " published in The Wall Street Journal from time to time (the “Prime Rate”"PRIME RATE"), plus two percent (2%) (the “Contract Rate”"CONTRACT RATE"). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight nine percent (89%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March May 1, 2008, 2006 and on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Samples: Secured Revolving Note (Xstream Beverage Network, Inc.)
Contract Rate. Subject to Sections 2.2 and 3.9, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to the “prime rate” published in The Wall Street Journal from time to time (the “Prime Rate”), plus two eight and one quarter percent (28.25%) (the “Contract Rate”). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight fifteen percent (815.00%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March [December] 1, 2008, 2007 on the first business day Business Day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Samples: Sten Corp
Contract Rate. Subject to Sections 2.2 and 3.9, interest payable on the outstanding principal amount of this Note (the “"Principal Amount”") shall accrue at a rate per annum equal to the “"prime rate” " published in The Wall Street Journal from time to time (the “"Prime Rate”"), plus two percent (22.0%) (the “"Contract Rate”"). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight nine and one half percent (89.50%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, ("Monthly Amount") commencing on March 1, 2008, on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Samples: Retail Pro, Inc.
Contract Rate. Subject to Sections 2.2 4.2 and 3.95.10, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to the “prime rate” published in The Wall Street Journal from time to time (the “Prime Rate”), plus two percent (22.0%) (the “Contract Rate”). The Contract 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 the Prime Rate. The Subject to Section 1.2, the Contract Rate shall not at any time be less than eight six percent (86.0%). ) Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March August 1, 20082005, on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Samples: Secured Term Note (Naturade Inc)
Contract Rate. Subject to Sections 2.2 4.2 and 3.95.10, interest payable on the outstanding principal amount of this Note (the “"Principal Amount”") shall accrue at a rate per annum equal to the “"prime rate” " published in The Wall Street Journal from time to time (the “"Prime Rate”"), plus two one percent (21.0%) (the “"Contract Rate”"). The Contract 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 the Prime Rate. The Subject to Section 1.2, the Contract Rate shall not at any time be less than eight percent (88.0%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March 1, 2008, 2006 on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, Date and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Samples: Netfabric Holdings, Inc
Contract Rate. Subject to Sections 2.2 4.2 and 3.95.10, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to the “prime rate” published in The Wall Street Journal from time to time (the “Prime Rate”), plus two percent (2%) (the “Contract Rate”). The Contract 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 the Prime Rate. The Subject to Section 1.2, the Contract Rate shall not at any time be less than eight six percent (86%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March September 1, 20082005, on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Samples: Apogee Technology Inc
Contract Rate. Subject to Sections 2.2 3.2 and 3.94.10, interest payable on the outstanding principal amount of this Note (the “"Principal Amount”") shall accrue at a rate per annum equal to the “"prime rate” " published in The Wall Street Journal from time to time (the “"Prime Rate”"), plus two three percent (23.0%) (the “"Contract Rate”"). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight nine percent (810.0%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March September 1, 20082007, on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Samples: Tarpon Industries, Inc.
Contract Rate. Subject to Sections 2.2 3.2 and 3.94.10, interest payable on the outstanding principal amount of this Note (the “"Principal Amount”") shall accrue at a rate per annum equal to the “"prime rate” " published in The Wall Street Journal from time to time (the “"Prime Rate”"), plus two percent (22.0%) (the “"Contract Rate”"). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight six percent (86.0%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March November 1, 2008, 2005 on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.. Page(s) -------
Appears in 1 contract
Samples: RG America, Inc.
Contract Rate. Subject to Sections 2.2 3.2 and 3.94.9, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to the “prime rate” published in The Wall Street Journal from time to time (the “Prime Rate”), plus two one percent (21.0%) (the “Contract Rate”). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight percent (88.0%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March November 1, 2008, 2006 on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Samples: Ronco Corp
Contract Rate. Subject to Sections 2.2 4.2 and 3.95.10, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to the “prime rate” published in The Wall Street Journal from time to time (the “Prime Rate”), plus two percent (22.0%) (the “Contract Rate”). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight ten percent (810.0%)) per annum nor more than thirteen percent (13.0%) per annum. Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March September 1, 20082007, on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Samples: Chad Therapeutics Inc
Contract Rate. Subject to Sections 2.2 4.2 and 3.95.11, interest payable on the outstanding principal amount of this Note (the “"Principal Amount”") shall accrue at a rate per annum equal to the “"prime rate” " published in The Wall Street Journal from time to time (the “"Prime Rate”"), plus two percent (2%) (the “"Contract Rate”"). The Contract 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 the Prime Rate. The Subject to Section 1.2, the Contract Rate shall not at any time be less than eight percent (8%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March August 1, 2008, 2005 on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, Date and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Samples: On the Go Healthcare Inc
Contract Rate. Subject to Sections 2.2 4.2 and 3.95.10, interest payable on the outstanding principal amount of this Note (the “"Principal Amount”") shall accrue at a rate per annum equal to the “"prime rate” " published in The Wall Street Journal from time to time (the “"Prime Rate”"), plus two percent (22.0%) (the “"Contract Rate”"). The Contract 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 the Prime Rate. The Subject to Section 1.2, the Contract Rate shall not at any time be less than eight six percent (86.0%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March November 1, 2008, 2005 on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, Date and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Samples: RG America, Inc.
Contract Rate. Subject to Sections 2.2 4.2 and 3.95.10, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to the “prime rate” published in The Wall Street Journal from time to time (the “Prime Rate”), plus two percent (22.0%) (the “Contract Rate”). The Contract 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 the Prime Rate. The Subject to Section 1.2, the Contract Rate shall not at any time be less than eight percent (88.0%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March July 1, 2008, 2005 on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, Date and on the Maturity Date, whether by acceleration or otherwise.. . 06/27/2005
Appears in 1 contract
Samples: 360 Global Wine Co
Contract Rate. Subject to Sections 2.2 3.2 and 3.94.10, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to the “prime rate” published in The Wall Street Journal from time to time (the “Prime Rate”), plus two and one-half percent (22.5%) (the “Contract Rate”). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight nine percent (89.0%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March 1, 2008, 2006 on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Samples: Micro Component Technology Inc
Contract Rate. Subject to Sections 2.2 4.2 and 3.95.10, interest payable on the outstanding principal amount of this Note (the “"Principal Amount”") shall accrue at a rate per annum equal to the “"prime rate” " published in The Wall Street Journal from time to time (the “"Prime Rate”"), plus two percent (22.0%) (the “"Contract Rate”"). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight percent (8%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March 1, 2008thirty (30) days from the effective date of this Note, on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Samples: Auxilio Inc
Contract Rate. Subject to Sections 2.2 and 3.9, interest payable on the outstanding principal amount of this Note (the “"Principal Amount”") shall accrue at a rate per annum equal to the “"prime rate” " published in The Wall Street Journal from time to time (the “"Prime Rate”"), plus two three percent (23.0%) (the “"Contract Rate”"). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight ten percent (810%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March May 1, 2008, 2006 on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Contract Rate. Subject to Sections 2.2 4.2 and 3.95.10, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to the “prime rate” published in The Wall Street Journal from time to time (the “Prime Rate”), plus two three percent (23%) (the “Contract Rate”). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight nine percent (89%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrearsarrears and in cash, commencing on March 1October 2, 20082006, on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.. Amended and Restated Secured Convertible Term Note
Appears in 1 contract
Samples: Silicon Mountain Holdings, Inc.
Contract Rate. Subject to Sections 2.2 3.2 and 3.94.10, interest payable on the outstanding principal amount of this Note (the “"Principal Amount”") shall accrue at a rate per annum equal to the “"prime rate” " published in The Wall Street Journal from time to time (the “"Prime Rate”"), plus two percent (22.0%) (the “"Contract Rate”"). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight nine percent (89.0%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March September 1, 20082007, on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Samples: Tarpon Industries, Inc.
Contract Rate. Subject to Sections 2.2 3.2 and 3.94.10, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to the “prime rate” published in The Wall Street Journal from time to time (the “Prime Rate”), plus two one and three-quarters percent (21.75%) (the “Contract Rate”). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight percent (88.0%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March April 1, 2008, 2006 on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Samples: Digital Recorders Inc
Contract Rate. Subject to Sections 2.2 and 3.9, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to the “prime rate” published in The Wall Street Journal from time to time (the “Prime Rate”), plus two percent (22.0%) (the “Contract Rate”). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight ten percent (810.0%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March August 1, 20082007, on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Samples: Incentra Solutions, Inc.
Contract Rate. Subject to Sections 2.2 3.2 and 3.94.10, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to the “prime rate” published in The Wall Street Journal from time to time (the “Prime Rate”), plus two three percent (23.0%) (the “Contract Rate”). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight seven percent (87.0%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March February 1, 2008, 2006 on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Samples: Impart Media Group Inc
Contract Rate. Subject to Sections 2.2 4.2 and 3.95.10, interest payable on the outstanding principal amount of this Note (the “"Principal Amount”") shall accrue at a rate per annum equal to the “"prime rate” " published in The Wall Street Journal from time to time (the “"Prime Rate”"), plus two percent (22.0%) (the “"Contract Rate”"). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight six percent (86.0%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March November 1, 2008, 2005 on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, Date and on the Maturity Date, whether by acceleration or otherwise.. Page(s) -------
Appears in 1 contract
Samples: RG America, Inc.
Contract Rate. Subject to Sections 2.2 4.2 and 3.95.10, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to the “prime rate” published in The Wall Street Journal from time to time (the “Prime Rate”), plus two percent (2%) (the “Contract Rate”). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight ten percent (810%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March 1January 2, 20082007, on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Samples: Jagged Peak, Inc.
Contract Rate. Subject to Sections 2.2 and 3.9, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to the “prime rate” published in The Wall Street Journal from time to time (the “Prime Rate”), plus two percent (2%) (the “Contract Rate”). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight nine percent (89%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March December 1, 2008, 2007 on the first business day Business Day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Samples: NewMarket Technology Inc
Contract Rate. Subject to Sections 2.2 4.2 and 3.95.10, interest payable on the outstanding principal amount of this Note (the “Principal Amount”"PRINCIPAL AMOUNT") shall accrue at a rate per annum equal to the “"prime rate” " published in The Wall Street Journal from time to time (the “Prime Rate”"PRIME RATE"), plus two one percent (21%) (the “Contract Rate”"CONTRACT RATE"). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight nine percent (89%). Interest shall be (i) be calculated on the basis of a 360 day year, and (ii) accrue and be payable monthly, in arrears, commencing on March 1, 2008, on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration acceleration, conversion or otherwise. The Contract Rate shall be calculated in accordance with the terms of this Section 1.1, subject to adjustment as set forth in this Note.
Appears in 1 contract
Samples: Xstream Beverage Network, Inc.
Contract Rate. Subject to Sections 2.2 4.2 and 3.95.11, interest payable on the outstanding principal amount of this Note (the “"Principal Amount”") shall accrue at a rate per annum equal to the “"prime rate” " published in The Wall Street Journal from time to time (the “"Prime Rate”"), plus two percent (2%) (the “"Contract Rate”"). The Contract 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 the Prime Rate. Subject to The Contract Rate shall not at any time be less than eight percent (8%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March August 1, 2008, 2005 on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, Date and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Samples: On the Go Healthcare Inc
Contract Rate. Subject to Sections 2.2 4.2 and 3.95.10, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to the “prime rate” published in The Wall Street Journal from time to time (the “Prime Rate”), plus two percent (2%) (the “Contract Rate”). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight and one-quarter of one percent (88.25%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March October 1, 2008, 2005 on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Contract Rate. Subject to Sections 2.2 4.2 and 3.95.10, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to the “prime rate” published in The Wall Street Journal from time to time (the “Prime Rate”), plus two percent (22.0%) (the “Contract Rate”). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight percent (88.0%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March November 1, 2008, 2006 on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, Date and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Samples: Ronco Corp
Contract Rate. Subject to Sections 2.2 3.2 and 3.94.10, interest payable on the outstanding principal amount of this Note (the “"Principal Amount”") shall accrue at a rate per annum equal to the “"prime rate” " published in The Wall Street Journal from time to time (the “"Prime Rate”"), plus two percent (22.0%) (the “"Contract Rate”"). The Contract 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 the Prime Rate. The Subject to Section 1.2, the Contract Rate shall not at any time be less than eight six percent (86.0%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March November 1, 2008, 2005 on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Samples: RG America, Inc.
Contract Rate. Subject to Sections 2.2 and 3.9, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to the “prime rate” published in The Wall Street Journal from time to time (the “Prime Rate”), plus two one and a half percent (21.5%) (the “Contract Rate”). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight percent (88.0%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March July 1, 2008, 2006 on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Samples: Miscor Group, Ltd.
Contract Rate. Subject to Sections 2.2 4.2 and 3.95.10, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to the “prime rate” published in The Wall Street Journal from time to time (the “Prime Rate”), plus two percent (22.0%) (the “Contract Rate”). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight seven and one quarter percent (87.25%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March February 1, 20082006, on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Samples: Time America Inc
Contract Rate. Subject to Sections 2.2 4.2 and 3.95.10, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to the “prime rate” published in The Wall Street Journal from time to time (the “Prime Rate”), plus two three percent (23.0%) (the “Contract Rate”). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight nine percent (89.0%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March 1, 2008, 2006 on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, Date and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Samples: Small World Kids Inc
Contract Rate. Subject to Sections 2.2 4.2 and 3.95.10, interest payable on the outstanding principal amount of this Note (the “"Principal Amount”") shall accrue at a rate per annum equal to the “"prime rate” " published in The Wall Street Journal from time to time (the “"Prime Rate”"), plus two three and one half percent (23.50%) (the “"Contract Rate”"). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight percent (88.0%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March 1, 20082006, on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Contract Rate. Subject to Sections 2.2 4.2 and 3.95.10, interest payable on the outstanding principal amount of this Note (the “"Principal Amount”") shall accrue at a rate per annum equal to the “"prime rate” " published in The Wall Street Journal from time to time (the “"Prime Rate”"), plus two percent (22.0%) (the “"Contract Rate”"). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight percent (88.0%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March August 1, 20082005, on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Samples: On the Go Healthcare Inc
Contract Rate. Subject to Sections 2.2 4.2 and 3.95.10, interest payable on the outstanding principal amount of this Note (the “"Principal Amount”") shall accrue at a rate per annum equal to the “"prime rate” " published in The Wall Street Journal from time to time (the “"Prime Rate”"), plus two percent (22.0%) (the “"Contract Rate”"). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight percent (88.0%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March February 1, 20082006, on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Samples: Datalogic International Inc
Contract Rate. Subject to Sections 2.2 4.2 and 3.95.10, interest payable on the outstanding principal amount of this Note (the “"Principal Amount”") shall accrue at a rate per annum equal to the “"prime rate” " published in The Wall Street Journal from time to time (the “"Prime Rate”"), plus two three percent (23.0%) (the “"Contract Rate”"). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight ten percent (810%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March 1July1, 20082006, on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Samples: Ams Health Sciences Inc
Contract Rate. Subject to Sections 2.2 and 3.9, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to the “prime rate” published in The Wall Street Journal from time to time (the “Prime Rate”), plus two percent (2%) (the “Contract Rate”). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight ten percent (810%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March 1January 2, 2008, 2007 on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.. Secured Revolving Note
Appears in 1 contract
Samples: Jagged Peak, Inc.
Contract Rate. Subject to Sections 2.2 3.2 and 3.94.10, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to the “prime rate” published in The Wall Street Journal from time to time (the “Prime Rate”), plus two percent (22.0%) (the “Contract Rate”). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight seven and one quarter percent (87.25%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March February 1, 2008, 2006 on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Samples: Time America Inc
Contract Rate. Subject to Sections 2.2 3.2 and 3.94.9, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to the “prime rate” published in The Wall Street Journal from time to time (the “Prime Rate”), plus two one percent (21.0%) (the “Contract Rate”). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight percent (88.0%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March July 1, 20082006, on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Samples: Miscor Group, Ltd.
Contract Rate. Subject to Sections 2.2 4.2 and 3.95.10, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to the “prime rate” published in The Wall Street Journal from time to time (the “Prime Rate”), plus two percent (22.0%) (the “Contract Rate”). The Contract 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 the Prime Rate. The Subject to Section 1.2, the Contract Rate shall not at any time be less than eight percent (88.0%). ) Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March July 1, 20082005, on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract
Samples: 360 Global Wine Co
Contract Rate. Subject to Sections 2.2 4.2 and 3.96.10, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to the “prime rate” published in The Wall Street Journal from time to time (the “Prime Rate”), plus two and one-half of one percent (22.5%) (the “Contract Rate”). The Contract 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 the Prime Rate. The Contract Rate shall not at any time be less than eight nine percent (89%) or more than thirteen percent (13%). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on March September 1, 20082007, on the first business day Business Day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 1 contract