Common use of Contracted For Rate of Interest Clause in Contracts

Contracted For Rate of Interest. The contracted for rate of interest of the indebtedness evidenced hereby, without limitation, shall consist of the following: (a) The Stated Interest Rate (as hereinafter defined), as from time to time in effect, calculated daily on the basis of actual days elapsed over a 360-day year, applied to the principal balance from time to time outstanding hereunder; (b) The Default Interest Rate (as hereinafter defined), as from time to time in effect, calculated daily on the basis of actual days elapsed over a 360-day year, applied to the principal balance from time to time outstanding hereunder; and (c) All Additional Sums (as hereinafter defined), if any. Borrower agrees to pay an effective contracted for rate of interest which is the sum of the Stated Interest Rate referred to in Subsection 2(a) above, plus any additional rate of interest resulting from the application of the Default Interest Rate referred to in Subsection 2(b) above, and the Additional Sums, if any, referred to in Subsection 2(c) above.

Contracted For Rate of Interest. The contracted for rate of interest of the indebtedness evidenced hereby, without limitation, shall consist of the following: (a) The Stated Interest Rate (as hereinafter defined)Accreted Interest, as from time which shall be equal to time in effect, calculated daily the original issue discount between the date of issuance and the date of payment based on the basis of actual days elapsed over a 360-day year, applied to the principal balance advances made under this Note from time to time outstanding hereundersuch that the Accreted Interest shall be equal to $260,000 if the full $1,300,000 is advanced pursuant to the Loan; (b) The Default Interest Rate (as hereinafter defined), as from time to time in effect, calculated daily on the basis of actual days elapsed over a 360365-day year, applied to the principal balance from time to time outstanding hereunder; and (c) All Additional Sums (as hereinafter defined), if any. Borrower agrees to pay an effective contracted for rate of interest which is the sum of the Stated Accreted Interest Rate referred to in Subsection subsection 2(a) above, plus any additional rate of interest resulting from the application of the Default Interest Rate referred to in Subsection subsection 2(b) above, and the Additional Sums, if any, referred to in Subsection subsection 2(c) above.

Contracted For Rate of Interest. The contracted for rate of interest of the indebtedness evidenced hereby, without limitation, shall consist of the following: (a) The Stated Interest Rate (as hereinafter defined)Accreted Interest, as from time which shall be equal to time in effect, calculated daily the original issue discount between the date of issuance and the date of payment based on the basis of actual days elapsed over a 360-day year, applied to the principal balance advances made under this Note from time to time outstanding hereundersuch that the Accreted Interest shall be equal to $140,000 if the full $700,000 is advanced pursuant to the Loan; (b) The Default Interest Rate (as hereinafter defined), as from time to time in effect, calculated daily on the basis of actual days elapsed over a 360365-day year, applied to the principal balance from time to time outstanding hereunder; and (c) All Additional Sums (as hereinafter defined), if any. Borrower agrees to pay an effective contracted for rate of interest which is xxxxx xx the sum of the Stated Accreted Interest Rate referred to in Subsection subsection 2(a) above, plus any additional rate of interest resulting from the application of the Default Interest Rate referred to in Subsection subsection 2(b) above, and the Additional Sums, if any, referred to in Subsection subsection 2(c) above.

Contracted For Rate of Interest. The contracted for rate of interest of the indebtedness evidenced hereby, without limitation, shall consist of the following: (a) The Stated Interest Rate (as hereinafter defined)Accreted Interest, as from time which shall be equal to time in effect, calculated daily the original issue discount between the date of issuance and the date of payment based on the basis of actual days elapsed over a 360-day year, applied to the principal balance advances made under this Note from time to time outstanding hereundersuch that the Accreted Interest shall be equal to $230,900 if the full $1,154,500 is advanced pursuant to the Loan; (b) The Default Interest Rate (as hereinafter defined), as from time to time in effect, calculated daily on the basis of actual days elapsed over a 360365-day year, applied to the principal balance from time to time outstanding hereunder; and (c) All Additional Sums (as hereinafter defined), if any. Borrower Xxxxxxxx agrees to pay an effective contracted for rate of interest which is the sum of the Stated Accreted Interest Rate referred to in Subsection subsection 2(a) above, plus any additional rate of interest resulting from the application of the Default Interest Rate referred to in Subsection subsection 2(b) above, and the Additional Sums, if any, referred to in Subsection subsection 2(c) above.