Common use of Initial Rate Clause in Contracts

Initial Rate. The Reference Rate as of the date of this Agreement is eight and one-half percent (8.5%) per annum, and, therefore, the effective rate of interest hereunder as of the date of this Agreement eleven and one-half percent (11.5%) per annum. The interest rate payable by Borrower under the terms of this Agreement shall be adjusted in accordance with any change in the Reference Rate from time to time on the date of any such change. All interest payable by Borrower shall be due and payable on the first day of each calendar month during the term of this Agreement.

Initial Rate. The Reference Rate as of the date of this Agreement is eight and one-half percent (8.58.50%) per annum, and, therefore, the effective rate of interest hereunder as of the date of this Agreement eleven and one-half Agreement, expressed in simple interest terms, is nine percent (11.59.00%) per annum. The interest rate payable by Borrower under the terms of this Agreement shall be adjusted in accordance with any change in the Reference Rate from time to time on the date of any such change. All interest payable by Borrower shall be due and payable on the first day of each calendar month during the term of this Agreement.

Initial Rate. The Reference Rate as of the date of this Agreement is eight and one-half quarter percent (8.58.25%) per annum, and, therefore, the effective rate of interest hereunder as of the date of this Agreement eleven is fourteen and one-half quarter percent (11.514.25%) per annum. The interest rate payable by Borrower under the terms of this Agreement shall be adjusted in accordance with any change in the Reference Rate from time to time on the date of any such change. All interest payable by Borrower shall be due and payable on the first day of each calendar month during the term of this Agreement.

Initial Rate. The Reference Rate as of the date of this Agreement is eight and one-half percent (8.5%) % per annum, and, . therefore, the effective rate of interest hereunder as of the date of this Agreement eleven and one-half percent (11.5%) is 12.0% per annum. The interest rate payable by Borrower under the terms of this Agreement shall be adjusted in accordance with any change in the Reference Rate from time to time on the date of any such change. All interest payable by Borrower shall be due and payable on the first day of each calendar month during the term of this Agreement.

Initial Rate. The Reference Rate as of the date of this Agreement is eight and one-one half percent (8.58.50%) per annum, and, therefore, the effective rate of interest hereunder as of the date of this Agreement eleven is thirteen and one-one half percent (11.513.50%) per annum. The interest rate payable by Borrower under the terms of this Agreement shall be adjusted in accordance with any change in the Reference Rate from time to time on the date of any such change. All interest payable by Borrower shall be due and payable on the first day of each calendar month during the term of this Agreement.