Contract Rate. Subject to Sections 3.2 and 4.10, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to thirteen percent (13.0%) (the “Contract Rate”). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on October 1, 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 4 contracts
Samples: Secured Term Note (True North Energy CORP), Secured Term Note (True North Energy CORP), Secured Term Note (True North Energy CORP)
Contract Rate. Subject to Sections 3.2 4.2 and 4.105.10, interest payable on the outstanding principal amount of this Note (the “"Principal Amount”") shall accrue at a rate per annum equal to thirteen twelve percent (13.012%) (the “"Contract Rate”"). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on October September 1, 2007, 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 4 contracts
Samples: Convertible Term Note (American Technologies Group Inc), Convertible Term Note (American Technologies Group Inc), Convertible Term Note (American Technologies Group Inc)
Contract Rate. Subject to Sections 3.2 2.2 and 4.103.9, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to thirteen seventeen and one half percent (13.017.50%) (the “Contract Rate”). Interest shall be (i) calculated on the basis of a 360 360-day year, and (ii) payable monthly, in arrears, commencing on October 1, 2007, on the first business day of each consecutive calendar month thereafter hereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 3 contracts
Samples: Secured Term Note (Windswept Environmental Group Inc), Secured Term Note (Windswept Environmental Group Inc), Secured Term Note (Windswept Environmental Group Inc)
Contract Rate. Subject to Sections 3.2 2.2 and 4.103.9, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to thirteen ten percent (13.0%) (the “Contract Rate”). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on October 1, 2007, the first day of the month following the date of this Note 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 2 contracts
Samples: Note (Rapid Link Inc), Note (Rapid Link Inc)
Contract Rate. Subject to Sections 3.2 2.2 and 4.103.10, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to thirteen fifteen percent (13.015%) (the “Contract Rate”). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on October November 1, 20072008, and on the first business day of each consecutive calendar succeeding month thereafter through and including the Maturity Date, and on the Maturity Date, whether by acceleration or otherwise.
Appears in 2 contracts
Samples: Note (Pervasip Corp), Note (Pervasip Corp)
Contract Rate. Subject to Sections 3.2 1.7 and 4.102.9, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to thirteen nine percent (13.09.0%) (the “Contract Rate”). Interest shall be (i) calculated on the basis of a 360 365 day yearyear comprised of twelve (12) months with the actual number of days for each month, and (ii) payable monthly, in arrears, commencing on October May 1, 20072015, 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
Contract Rate. Subject to Sections 3.2 2.2 and 4.103.10, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to thirteen twelve percent (13.012.0%) (the “Contract Rate”). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on October November 1, 20072008, 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 3.2 2.2 and 4.103.9, interest payable -------------- on the outstanding principal amount of this Note (the “Principal Amount”"PRINCIPAL AMOUNT") shall accrue at a rate per annum equal to thirteen twenty percent (13.020%) (the “Contract Rate”"CONTRACT RATE"). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on October November 1, 20072005, 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 3.2 4.8 and 4.105.10, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to thirteen nine and three quarters percent (13.09.75%) (the “Contract Rate”). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on October June 1, 2007, 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
Contract Rate. Subject to Sections 3.2 and 4.10, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to thirteen ten percent (13.010%) (the “Contract Rate”). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on October June 1, 20072006, 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 3.2 4.2 and 4.105.9, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to thirteen ten percent (13.010.0%) (the “Contract Rate”). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on October July 1, 20072006, 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 3.2 2.2 and 4.103.9, interest payable -------------- on the outstanding principal amount of this Note (the “Principal Amount”"PRINCIPAL AMOUNT") shall accrue at a rate per annum equal to thirteen twenty percent (13.020%) (the “Contract Rate”"CONTRACT RATE"). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on October November 1, 20072005, 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 3.2 and 4.10, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate of twelve per cent (12%) per annum equal to thirteen percent (13.0%) (the “Contract Rate”). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on October 1, 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: Omnibus Amendment to Loan Documents (Digital Angel Corp)
Contract Rate. Subject to Sections 3.2 2.2 and 4.103.9, interest payable on the ------------- outstanding principal amount of this Note (the “Principal Amount”"PRINCIPAL AMOUNT") shall accrue at a rate per annum equal to thirteen twenty percent (13.020%) (the “Contract Rate”"CONTRACT RATE"). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on October November 1, 20072005, 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 3.2 4.2 and 4.105.10, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to thirteen fifteen percent (13.015.0%) (the “Contract Rate”). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on October May 1, 20072006, 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 (Iwt Tesoro Corp)
Contract Rate. Subject to Sections 3.2 2.2 and 4.103.9, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to thirteen twelve percent (13.012%) (the “Contract Rate”). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on October 1, 2007, on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and full on the Maturity Date, whether by Date or earlier upon acceleration or otherwisein accordance with the terms of the Security Agreement.
Appears in 1 contract
Samples: Note (Quadrant 4 Systems Corp)
Contract Rate. Subject to Sections 3.2 2.2 and 4.103.9, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to thirteen ten percent (13.010%) (the “Contract Rate”). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on October 1, 2007the 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: Security Agreement (Rapid Link Inc)
Contract Rate. Subject to Sections 3.2 2.2 and 4.103.9, interest payable on the ------------- outstanding principal amount of this Note (the “Principal Amount”"PRINCIPAL AMOUNT") shall accrue at a rate per annum equal to thirteen seventeen and one-half percent (13.017.5%) (the “Contract Rate”"CONTRACT RATE"). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on October July 1, 2007, 2006 and continuing 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 3.2 and 4.10, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a fixed rate per annum equal to thirteen ten percent (13.010%) (the “Contract Rate”). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on October March 1, 2007, 2006 and continuing 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: Assignment and Amendment Agreement (Incentra Solutions, Inc.)
Contract Rate. Subject to Sections 3.2 2.2 and 4.103.9, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to thirteen ten percent (13.010%) (the “Contract Rate”). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on October April 1, 20072008, 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: Note (Rapid Link Inc)
Contract Rate. Subject to Sections 3.2 4.2 and 4.105.10, interest payable on the outstanding principal amount of this Note (the “"Principal Amount”") shall accrue at a rate per annum equal to thirteen eighteen percent (13.018%) (the “"Contract Rate”"). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on October 1, 2007, 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: Secured Convertible Term Note (American Technologies Group Inc)
Contract Rate. Subject to Sections sections 3.2 and 4.10, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a fixed rate per annum equal to thirteen ten percent (13.010%) through February 5, 2009, and at a fixed annual rate per annum of twelve percent (12%) thereafter (the “Contract Rate”). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on October March 1, 2007, 2006 and continuing 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 3.2 2.2 and 4.103.9, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to thirteen eight percent (13.08%) (the “Contract Rate”). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on October March 1, 20072010, and on the first business day of each consecutive calendar month thereafter through and including the Maturity Date, and on the Maturity Dateuntil paid in full, whether by acceleration following demand or otherwise.
Appears in 1 contract
Samples: Secured Term Note (Rapid Link Inc)
Contract Rate. Subject to Sections 3.2 2.2 and 4.103.9, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to thirteen ten percent (13.010%) (the “Contract Rate”). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on October 1, 2007, the first business day of the month following the initial disbursement of funds hereunder 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: Note (Rapid Link Inc)
Contract Rate. Subject to Sections 3.2 4.8 and 4.105.10, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to thirteen nine and one half percent (13.09.50%) (the “Contract Rate”). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on October February 1, 2007, 2007 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 3.2 and 4.10Section 1.3, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to thirteen five percent (13.05.0%) per annum (the “Contract Rate”). Interest shall be (i) calculated on the basis of a 360 365 day year, and (ii) payable monthlyquarterly, in arrears, commencing on October July 1, 20072006, on the first business day of each consecutive calendar month quarter thereafter through and including the Maturity Date, and on the Maturity Datematurity of this Note , whether by acceleration or otherwise.
Appears in 1 contract
Contract Rate. Subject to Sections 3.2 2.2 and 4.103.9, interest payable on the outstanding principal amount of this Note (the “Principal Amount”) shall accrue at a rate per annum equal to thirteen twenty percent (13.020%) (the “Contract Rate”). Interest shall be (i) calculated on the basis of a 360 day year, and (ii) payable monthly, in arrears, commencing on October November 1, 20072005, 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