Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, which, if susceptible to cure is not cured within twenty (20) days, otherwise then from the first date of such occurrence, the annual interest rate on this Note shall (subject to Section 5.7) automatically be increased to the highest percentage allowed by law.
Appears in 5 contracts
Samples: Accident Prevention Plus Inc, Accident Prevention Plus Inc, Accident Prevention Plus Inc
Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, which, if susceptible to cure is not cured within twenty (20) days, otherwise then from the first date of such occurrence, the annual interest rate on this Note shall (subject to Section 5.7) automatically be increased to the highest percentage allowed by lawfifteen percent (15%).
Appears in 4 contracts
Samples: BioMETRX, Conolog Corp, Conolog Corp
Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, which, if susceptible to cure is not cured within twenty ten (2010) days, otherwise then from the first date of such occurrence, the annual interest rate on this Note shall (subject to Section 5.76.7) automatically be increased to the highest percentage allowed by lawfifteen percent (15%).
Appears in 4 contracts
Samples: Inrob Tech Ltd., Inrob Tech Ltd., Collateral Agent Agreement (Hq Sustainable Maritime Industries, Inc.)
Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, which, if susceptible to cure is not cured within twenty (20) days, otherwise then from the first date of such occurrence, the annual interest rate on this Note shall (subject to Section 5.76.7) automatically be increased to fifteen percent (15%), and all outstanding obligations under this Note, including unpaid interest, shall continue to accrue interest from the highest percentage allowed by lawdate of such Event of Default at such interest rate applicable to such obligations until such Event of Default is cured or waived.
Appears in 4 contracts
Samples: Alpha Solarco Inc, Innovative Food Holdings Inc, Hybrid Fuel Systems Inc
Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, which, if susceptible to cure is not cured within twenty (20) days, otherwise then from the first date of such occurrence, the annual interest rate on this Note shall (subject to Section 5.7) automatically be increased to the highest percentage allowed by law.
Appears in 4 contracts
Samples: INCA Designs Inc, INCA Designs Inc, Accident Prevention Plus Inc
Default Interest Rate. Following the occurrence and during the continuance of an Event of DefaultDefault (as defined in Article IV), which, if susceptible to cure is not cured within twenty five (205) days, otherwise then from the first date of such occurrence, the annual interest rate on this Note shall (subject to Section 5.74.7) automatically be increased to the highest percentage allowed by lawfifteen percent (15%). Such interest shall be due and payable together with regular scheduled Monthly Amounts.
Appears in 3 contracts
Samples: Franklin Towers Enterprises Inc, IDO Security Inc., IDO Security Inc.
Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, which, if susceptible to cure is not cured within twenty ten (2010) days, otherwise then from the first date of such occurrence, the annual interest rate on this Note shall (subject to Section 5.74.7) automatically be increased to the highest percentage allowed by lawfifteen percent (15%) and calculated on a 365 day year.
Appears in 3 contracts
Samples: Medical Exchange Inc., Tube Media Corp., Swiss Medica Inc
Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, which, if susceptible to cure is not cured within twenty (20) days, otherwise then from the first date of such occurrence, the annual interest rate on this Note shall (subject to Section 5.7) automatically be increased to the highest percentage allowed by lawten percent (10%) per annum.
Appears in 2 contracts
Samples: Lantis Laser Inc., Lantis Laser Inc.
Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, which, if susceptible to cure is not cured within twenty five (205) days, otherwise then from the first date of such occurrence, the annual interest rate on this Note shall (subject to Section 5.76.7) automatically be increased to the highest percentage allowed by lawfifteen percent (15%).
Appears in 2 contracts
Samples: China Biopharma, Inc., Conolog Corp
Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, which, which if susceptible to cure is not cured within twenty ten (2010) days, otherwise then from the first date of such occurrence, the annual interest rate on this Note note shall (subject to Section 5.7) automatically be increased to (15%) for the highest percentage allowed by lawuncured period or upon satisfaction of the outstanding balance.
Appears in 2 contracts
Samples: DubLi, Inc., Medianet Group Technologies Inc
Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, which, if susceptible to cure is not cured within twenty (20) days, otherwise then from the first date of such occurrence, the annual interest rate on this Note shall (subject to Section 5.7) automatically be increased to the highest percentage allowed by laweighteen percent (18%).
Appears in 1 contract
Samples: CareView Communications Inc
Default Interest Rate. Following the occurrence and during the continuance of an Event of DefaultDefault (as defined in Article IV), which, if susceptible to cure is not cured within twenty (20) days, otherwise then from the first date of such occurrence, the annual interest rate on this Note shall (subject to Section 5.7) automatically be increased to fifteen percent (15%). Such interest shall be due and payable on the highest percentage allowed by lawMaturity Date, accelerated or otherwise.
Appears in 1 contract
Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, which, if susceptible to cure is not cured within twenty ten (2010) days, otherwise then from the first date of such occurrence, the annual interest rate on this Note shall (subject to Section 5.73.7) automatically be increased to the highest percentage allowed by lawtwenty-four percent (24%) and calculated on a 365 day year.
Appears in 1 contract
Samples: IDO Security Inc.