Contract Rate. Subject to Sections 4.2 and 5.10, 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. Subject to Section 1.2, the Contract Rate shall not be less than six percent (6%).
Appears in 5 contracts
Samples: Borrowing Note (Dynamic Health Products Inc), Dynamic Health Products Inc, House of Brussels Chocolates Inc
Contract Rate. Subject to Sections 4.2 3.2 and 5.104.10, 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. Subject to Section 1.2, the Contract Rate shall not be less than six percent (6%).
Appears in 3 contracts
Samples: Secured Revolving Note (Dynamic Health Products Inc), Secured Revolving Note (Dynamic Health Products Inc), Dynamic Health Products Inc
Contract Rate. (a) Subject to Sections 4.2 2.2 and 5.103.9, 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. Subject to Section 1.2, the The Contract Rate shall not at any time be less than six nine and three-quarters percent (69.75%). Interest shall be calculated on the basis of a 360 day year.
Appears in 2 contracts
Samples: Pervasip Corp, Pervasip Corp
Contract Rate. Subject to Sections 4.2 4.3 and 5.105.7 hereof, 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”)time, plus two one percent (21%) (the “"Contract Rate”"). The Contract 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 in accordance with the Prime Rateterms of the Security Agreement. Subject to Section 1.2, the Contract Rate shall not be less than six five percent (65%).
Appears in 1 contract
Samples: Greenman Technologies Inc
Contract Rate. Subject to Sections 4.2 3.2 and 5.104.10, 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. Subject to Section 1.2, the Contract Rate shall not be less than six percent (6%).
Appears in 1 contract
Samples: Electric City Corp
Contract Rate. Subject to Sections 4.2 4.11, 5.1 and 5.106.7 hereof, 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”)time, 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 prime rate in an amount equal to such increase or decrease in the Prime Rateprime rate; each change to be effective as of the day of the change in such rate in accordance with the Prime Rateterms of the Security Agreement. Subject to Section 1.2, the Contract Rate shall not be less than six percent (6%).
Appears in 1 contract
Samples: Catalyst Lighting Group Inc
Contract Rate. Subject to Sections 4.2 4.11 and 5.106.7 hereof, 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 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 in accordance with the Prime Rateterms of the Security Agreement. Subject to Section 1.2, the Contract Rate shall not be less than six seven and one-half percent (67.50%).
Appears in 1 contract
Samples: Maxim Mortgage Corp/
Contract Rate. Subject to Sections 4.2 4.2, 5.1 and 5.106.7 hereof, 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”)time, plus two one percent (21%) (the “Contract Rate”). The Contract 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 in accordance with the Prime Rateterms of the Security Agreement. Subject to Section 1.2, the Contract Rate shall not be less than six five percent (65 %).
Appears in 1 contract
Contract Rate. Subject to Sections 4.2 4.2, 5.1 and 5.106.7 hereof, 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”)time, plus two percent (2%) (the “Contract Rate”). The Contract 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 in accordance with the Prime Rateterms of the Security Agreement. Subject to Section 1.2, the Contract Rate shall not be less than six and seventy five hundredths percent (66.75%).
Appears in 1 contract
Samples: Comc Inc
Contract Rate. Subject to Sections 4.2 Article V and 5.10Section 6.7, 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 "PRIME Rate”"), plus two three percent (23%) (the “Contract Rate”CONTRACT RATE"). The Contract 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 in accordance with the Prime Rateterms of the Security Agreement. Subject to Section 1.2, the Contract Rate shall not be less than six seven percent (67%).
Appears in 1 contract
Samples: Return on Investment Corp
Contract Rate. Subject to Sections 4.2 5.3 and 5.106.7 hereof, 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”)time, plus two one percent (21%) (the “"Contract Rate”"). The Contract 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 in accordance with the Prime Rateterms of the Security Agreement. Subject to Section 1.2, the Contract Rate shall not be less than six five percent (65%).
Appears in 1 contract
Samples: Greenman Technologies Inc
Contract Rate. Subject to Sections 4.2 and 5.10, 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. Subject to Section 1.2, the Contract Rate shall not be less than six seven and one-half percent (67.5%).
Appears in 1 contract
Contract Rate. Subject to Sections 4.2 3.2 and 5.104.10, 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 and one quarter percent (21.25%) (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. Subject to Section 1.2, the Contract Rate shall not be less than six and one half percent (66.50%).
Appears in 1 contract
Samples: Riviera Tool Co
Contract Rate. Subject to Sections 4.2 and 5.10, 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. Subject Notwithstanding the foregoing, but subject to Section 1.2, the Contract Rate shall not be less than six seven and one quarter percent (67.25%)) per annum.
Appears in 1 contract
Samples: Securities Purchase Agreement (Standard Management Corp)
Contract Rate. Subject to Sections 4.2 and 5.10, 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. Subject to Section 1.2, the Contract Rate shall not be less than six seven percent (67%).
Appears in 1 contract
Samples: Earthfirst Technologies Inc
Contract Rate. Subject to Sections 4.2 Article V and 5.10Section 6.7, 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 "PRIME Rate”"), plus two three percent (23%) (the “Contract Rate”"CONTRACT RATE"). The Contract 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 in accordance with the Prime Rateterms of the Security Agreement. Subject to Section 1.2, the Contract Rate shall not be less than six seven percent (67%).
Appears in 1 contract
Samples: Return on Investment Corp
Contract Rate. Subject to Sections 4.2 and 5.10, 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 four percent (24%) (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. Subject to Section 1.2, the Contract Rate shall not be less than six and one half percent (66.50%).
Appears in 1 contract
Samples: Riviera Tool Co
Contract Rate. Subject to Sections 4.2 3.2 and 5.104.10, 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. Subject to Section 1.2, the Contract Rate shall not be less than six seven percent (67%).
Appears in 1 contract
Samples: Earthfirst Technologies Inc
Contract Rate. Subject to Sections 4.2 4.11, 5.1 and 5.106.7 hereof, 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”)time, plus two three percent (23%) (the “"Contract Rate”"). The Contract 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 in accordance with the Prime Rateterms of the Security Agreement. Subject to Section 1.2, the Contract Rate shall not be less than six seven percent (67%).
Appears in 1 contract
Samples: Hesperia Holding Inc
Contract Rate. Subject to Sections 4.2 4.11 and 5.106.7 hereof, 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 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 in accordance with the Prime Rateterms of the Security Agreement. Subject to Section 1.2, the Contract Rate shall not be less than six seven and one-half percent (67.50%).
Appears in 1 contract
Samples: Thomas Equipment, Inc.
Contract Rate. Subject to Sections 4.2 and 5.10, 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. Subject to Section 1.21.3, the Contract Rate shall not be less than six eight percent (68.0%).
Appears in 1 contract
Contract Rate. Subject to Sections 4.2 and 5.10, 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 and one quarter percent (21.25%) (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. Subject to Section 1.2, the Contract Rate shall not be less than six and one half percent (66.50%).
Appears in 1 contract
Samples: Riviera Tool Co
Contract Rate. Subject to Sections 4.2 1.2, 4.2, 5.1 and 5.106.7 hereof, 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”)time, plus two percent (22.0%) (the “Contract Rate”). The Contract 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 in accordance with the Prime Rateterms of the Security Agreement. Subject to Section 1.2, the Contract Rate shall not be less than six percent (66.0 %).
Appears in 1 contract
Samples: Digital Lifestyles Group Inc
Contract Rate. Subject to Sections 4.2 1.2, 4.2, 5.1 and 5.106.7 hereof, 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”)time, plus two percent (22.0%) (the “"Contract Rate”"). The Contract 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 in accordance with the Prime Rateterms of the Security Agreement. Subject to Section 1.2, the Contract Rate shall not be less than six percent (66.0 %).
Appears in 1 contract
Samples: Digital Lifestyles Group Inc
Contract Rate. Subject to Sections 4.2 4.2, 5.1 and 5.106.7 hereof, 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”)time, plus two percent (2%) (the “Contract Rate”"CONTRACT RATE"). The Contract 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 in accordance with the Prime Rateterms of the Security Agreement. Subject to Section 1.2, the Contract Rate shall not be less than six percent (66 %).
Appears in 1 contract
Samples: Creative Vistas Inc
Contract Rate. Subject to Sections 4.2 4.11, 5.1 and 5.106.7 hereof, 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 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 in accordance with the Prime Rateterms of the Security Agreement. Subject to Section 1.2, the Contract Rate shall not be less than six seven and one-half percent (67.50%).
Appears in 1 contract
Samples: Maxim Mortgage Corp/
Contract Rate. Subject to Sections 4.2 and 5.10, 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. Subject to Section 1.2, the Contract Rate shall not be less than six percent (6%).
Appears in 1 contract
Samples: Earthfirst Technologies Inc
Contract Rate. Subject to Sections 4.2 4.10, 5.1 and 5.106.7 hereof, 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”)time, plus two three percent (23%) (the “"Contract Rate”"). The Contract 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 in accordance with the Prime Rateterms of the Security Agreement. Subject to Section 1.2, the Contract Rate shall not be less than six seven percent (67%).
Appears in 1 contract
Samples: Global Digital Solutions Inc