Common use of Interest and Payment Clause in Contracts

Interest and Payment. 1.1. The principal amount of this Debenture outstanding from time to time shall bear simple interest at the annual rate (the "Debenture Rate") of ten percent (10%) from the date hereof through the earliest to occur of (i) the Maturity Date, (ii) the Prepayment Date and (iii) the Acceleration Date. 1.2. Interest accrued on this Debenture shall be payable on the earliest to occur of (i) the Maturity Date, (ii) the Prepayment Date and (iii) the Acceleration Date. 1.3. All payments made by the Payor on this Debenture shall be applied first to the payment of accrued unpaid interest on this Debenture and then to the reduction of the unpaid principal balance of this Debenture. 1.4. If payment of the outstanding principal amount of this Debenture, together with accrued unpaid interest thereon at the Debenture Rate, is not made on the earliest to occur of (i) the Maturity Date, (ii) the Prepayment Date and (iii) the Acceleration Date, then interest shall accrue on the outstanding principal amount due under this Debenture and on any unpaid accrued interest due on this Debenture from and after such date of default to the date of the payment in full of such amounts (including from and after the date of the entry of judgment in favor of Payee in an action to collect this Debenture) at an annual rate equal to the lesser of 18% or the maximum rate of interest permitted by applicable law (the "Maximum Rate"). 1.5. In no event shall Payee be entitled to receive interest, however characterized and including other consideration received in connection with this Debenture, at an effective rate in excess of the Maximum Rate. In the event that a court of competent jurisdiction determines that such amounts paid or agreed to be paid by Payor in connection with this Debenture causes the effective interest rate on this Debenture to exceed the Maximum Rate, such interest or other consideration shall automatically be reduced to a rate which results in an effective interest rate under this Debenture equal to the Maximum Rate over the term hereof, and, in such event, any amounts received by Payee deemed to constitute excessive interest shall be applied first to the payment of accrued unpaid interest on this Debenture and then to the reduction of the unpaid principal balance of this Debenture. 1.6. In the event that the date for the payment of any amount payable under this Debenture falls due on a Saturday, Sunday or public holiday under the laws of the State of New York, the time for payment of such amount shall be extended to the next succeeding business day and interest at the Debenture Rate shall continue to accrue on any principal amount so effected until the payment thereof on such extended due date.

Interest and Payment. 1.1. 1.1 The principal amount of this Debenture Note outstanding from time to time shall bear simple interest at the annual rate (the "Debenture Note Rate") of ten twelve percent (1012%) from the date hereof through the earliest to occur of (i) the Maturity Date, ; (ii) the Prepayment Date and Date; (iii) the Acceleration Date; and (iv) the Financing Date. 1.2. 1.2 Interest accrued on this Debenture Note shall be payable not later than, on the earliest to occur of (i) the Maturity Date, ; (ii) the Prepayment Date and Date; (iii) the Acceleration Date; and (iv) the Financing Date. 1.3. 1.3 All payments made by the Payor on this Debenture Note shall be applied first to the payment of accrued unpaid interest on this Debenture Note and then to the reduction of the unpaid principal balance of this DebentureNote. 1.4. 1.4 If payment of the outstanding principal amount of this DebentureNote, together with accrued unpaid interest thereon at the Debenture Note Rate, is not made on the earliest to occur of (i) the Maturity Date, (ii) the Prepayment Date and (iiiDate,(iii) the Acceleration Date, and (iv) the Investment Date, then interest shall accrue on the outstanding principal amount due under this Debenture Note and on any unpaid accrued interest due on this Debenture Note from and after such date of default to the date of the payment in full of such amounts (including from and after the date of the entry of judgment in favor of Payee in an action to collect this DebentureNote) at an annual rate equal to the lesser of 18% or the maximum rate of interest permitted by applicable law (the "Maximum Rate"). 1.5. 1.5 In no event shall Payee be entitled to receive interest, however characterized and including other consideration received in connection with this DebentureNote, at an effective rate in excess of the Maximum Rate. In the event that a court of competent jurisdiction determines that such amounts paid or agreed to be paid by Payor in connection with this Debenture Note causes the effective interest rate on this Debenture Note to exceed the Maximum Rate, such interest or other consideration shall automatically be reduced to a rate which results in an effective interest rate under this Debenture Note equal to the Maximum Rate over the term hereof, and, in such event, any amounts received by Payee deemed to constitute excessive interest shall be applied first to the payment of accrued unpaid interest on this Debenture Note and then to the reduction of the unpaid principal balance of this DebentureNote. 1.6. 1.6 In the event that the date for the payment of any amount payable under this Debenture Note falls due on a Saturday, Sunday or public holiday under the laws of the State of New York, the time for payment of such amount shall be extended to the next succeeding business day and interest at the Debenture Note Rate shall continue to accrue on any principal amount so effected until the payment thereof on such extended due date.

Interest and Payment. 1.1. The principal amount of this Debenture Note outstanding from time to time shall bear simple interest at the annual rate (the "Debenture Note Rate") of ten twelve percent (1012%) from the date hereof through the earliest to occur of (i) the Maturity Date, ; (ii) the Prepayment Date and Date; (iii) the Acceleration Date; and (iv) the Financing Date. 1.2. Interest accrued on this Debenture Note shall be payable not later than, on the earliest to occur of (i) the Maturity Date, ; (ii) the Prepayment Date and Date; (iii) the Acceleration Date; and (iv) the Financing Date. 1.3. All payments made by the Payor on this Debenture Note shall be applied first to the payment of accrued unpaid interest on this Debenture Note and then to the reduction of the unpaid principal balance of this DebentureNote. 1.4. If payment of the outstanding principal amount of this DebentureNote, together with accrued unpaid interest thereon at the Debenture Note Rate, is not made on the earliest to occur of (i) the Maturity Date, (ii) the Prepayment Date and (iiiDate,(iii) the Acceleration Date, and (iv) the Investment Date, then interest shall accrue on the outstanding principal amount due under this Debenture Note and on any unpaid accrued interest due on this Debenture Note from and after such date of default to the date of the payment in full of such amounts (including from and after the date of the entry of judgment in favor of Payee in an action to collect this DebentureNote) at an annual rate equal to the lesser of 18% or the maximum rate of interest permitted by applicable law (the "Maximum Rate"). 1.5. In no event shall Payee be entitled to receive interest, however characterized and including other consideration received in connection with this DebentureNote, at an effective rate in excess of the Maximum Rate. In the event that a court of competent jurisdiction determines that such amounts paid or agreed to be paid by Payor in connection with this Debenture Note causes the effective interest rate on this Debenture Note to exceed the Maximum Rate, such interest or other consideration shall automatically be reduced to a rate which results in an effective interest rate under this Debenture Note equal to the Maximum Rate over the term hereof, and, in such event, any amounts received by Payee deemed to constitute excessive interest shall be applied first to the payment of accrued unpaid interest on this Debenture Note and then to the reduction of the unpaid principal balance of this DebentureNote. 1.6. In the event that the date for the payment of any amount payable under this Debenture Note falls due on a Saturday, Sunday or public holiday under the laws of the State of New York, the time for payment of such amount shall be extended to the next succeeding business day and interest at the Debenture Note Rate shall continue to accrue on any principal amount so effected until the payment thereof on such extended due date.

Interest and Payment. 1.1. The principal amount of this Debenture Note outstanding from time to time shall bear simple interest at the annual rate (the "Debenture Note Rate") of ten twelve percent (1012%) from the date hereof through the earliest to occur of (i) the Maturity Date, ; (ii) the Prepayment Date and Date; (iii) the Acceleration Date; and (iv) the Financing Date. 1.2. Interest accrued on this Debenture Note shall be payable not later than, on the earliest earlier to occur of (i) the Maturity Date, ; (ii) the Prepayment Date and Date); (iii) the Acceleration Date; and (iv) the Financing Date. 1.3. All payments made by the Payor on this Debenture Note shall be applied first to the payment of accrued unpaid interest on this Debenture Note and then to the reduction of the unpaid principal balance of this DebentureNote. 1.4. If payment of the outstanding principal amount of this DebentureNote, together with accrued unpaid interest thereon at the Debenture Note Rate, is not made on the earliest to occur of (i) the Maturity Date, (ii) the Prepayment Date and Date, (iii) the Acceleration Date, and (iv) the Investment Date, then interest shall accrue on the outstanding principal amount due under this Debenture Note and on any unpaid accrued interest due on this Debenture Note from and after such date of default to the date of the payment in full of such amounts (including from and after the date of the entry of judgment in favor of Payee in an action to collect this DebentureNote) at an annual rate equal to the lesser of 18% or the maximum rate of interest permitted by applicable law (the "Maximum Rate"). 1.5. In no event shall Payee be entitled to receive interest, however characterized and including other consideration received in connection with this DebentureNote, at an effective rate in excess of the Maximum Rate. In the event that a court of competent jurisdiction determines that such amounts paid or agreed to be paid by Payor in connection with this Debenture Note causes the effective interest rate on this Debenture Note to exceed the Maximum Rate, such interest or other consideration shall automatically be reduced to a rate which results in an effective interest rate under this Debenture Note equal to the Maximum Rate over the term hereof, and, in such event, any amounts received by Payee deemed to constitute excessive interest shall be applied first to the payment of accrued unpaid interest on this Debenture Note and then to the reduction of the unpaid principal balance of this DebentureNote. 1.6. In the event that the date for the payment of any amount payable under this Debenture Note falls due on a Saturday, Sunday or public holiday under the laws of the State of New York, the time for payment of such amount shall be extended to the next succeeding business day and interest at the Debenture Note Rate shall continue to accrue on any principal amount so effected until the payment thereof on such extended due date.

Interest and Payment. 1.1. The principal amount Subject in each of this Debenture outstanding from time to time shall bear simple interest at the annual rate (the "Debenture Rate") of ten percent (10%) from the date hereof through the earliest to occur of (i) the Maturity Date, (ii) the Prepayment Date and (iii) the Acceleration Date. 1.2. Interest accrued on this Debenture shall be payable on the earliest to occur of (i) the Maturity Date, (ii) the Prepayment Date and (iii) the Acceleration Date. 1.3. All payments made by the Payor on this Debenture shall be applied first following cases to the payment terms of accrued unpaid interest the Subordination Agreement: (a) Interest shall accrue on this Debenture and then to the reduction of the unpaid principal balance of this Debenture. 1.4. If payment of the outstanding principal amount of this Debenture, together with accrued unpaid interest thereon Subordinated Note for each Interest Period at the Debenture Rate, is not made on rate of interest equal to the earliest to occur lesser of (i) the Maturity Date, sum of the Dividends and Additional Costs owing for the continuous Dividend Period for the Preferred Stock whether or not such Dividends or Additional Costs are described or paid and (ii) the Prepayment Date and Maximum Rate (iiidefined below); (b) the Acceleration Date, then interest shall accrue on the The outstanding principal amount due under balance of this Debenture and on any unpaid accrued interest due on this Debenture from and after such date of default to the date of the payment in full of such amounts (including from and after the date of the entry of judgment in favor of Payee in an action to collect this Debenture) at an annual rate equal to the lesser of 18% or the maximum rate of interest permitted by applicable law (the "Maximum Rate"). 1.5. In no event shall Payee be entitled to receive interest, however characterized and including other consideration received in connection with this Debenture, at an effective rate in excess of the Maximum Rate. In the event that a court of competent jurisdiction determines that such amounts paid or agreed to be paid by Payor in connection with this Debenture causes the effective interest rate on this Debenture to exceed the Maximum Rate, such interest or other consideration shall automatically be reduced to a rate which results in an effective interest rate under this Debenture equal to the Maximum Rate over the term hereof, and, in such event, any amounts received by Payee deemed to constitute excessive interest Subordinated Note shall be applied first to the payment of accrued unpaid interest due and payable on this Debenture and then to the reduction of demand, but if no demand has been made, on August 4, 2005. Interest on the unpaid principal balance of this Debenture.Subordinated Note shall be due and payable on each Interest Payment Date, commencing on the Interest Payment Date occurring on December 31, 1997, until the maturity hereof (whether due to demand, a Maturing Event, or expiration of term), at which time all unpaid principal of and accrued interest on this Subordinated Note shall be due and payable; and 1.6. In (c) Issuer may redeem this Subordinated Note upon ten (10) Business Days' prior notice to Holder and the event that Placement Agent which notice shall specify the redemption date for (which shall be an Interest Payment Date) and the payment of any amount payable under this Debenture falls due on a Saturday, Sunday or public holiday under the laws of the State of New York, the time for payment of such amount redemption (which shall be extended at least $10,000,000 or any whole multiple of $100,000 in excess thereof or the remaining aggregate principal balance outstanding on this Subordinated Note) and shall be irrevocable and effective only upon receipt by Holder and the Placement Agent, provided that interest on the principal prepaid, accrued to the next succeeding business day and interest at redemption date, shall be paid on the Debenture Rate shall continue to accrue on any principal amount so effected until the payment thereof on such extended due redemption date.

Interest and Payment. 1.1. The principal amount Subject in each of this Debenture outstanding from time to time shall bear simple interest at the annual rate (the "Debenture Rate") of ten percent (10%) from the date hereof through the earliest to occur of (i) the Maturity Date, (ii) the Prepayment Date and (iii) the Acceleration Date. 1.2. Interest accrued on this Debenture shall be payable on the earliest to occur of (i) the Maturity Date, (ii) the Prepayment Date and (iii) the Acceleration Date. 1.3. All payments made by the Payor on this Debenture shall be applied first following cases to the payment terms of accrued unpaid interest the Subordination Agreement: (a) Interest shall accrue on this Debenture and then to the reduction of the unpaid principal balance of this Debenture. 1.4. If payment of the outstanding principal amount of this Debenture, together with accrued unpaid interest thereon Subordinated Promissory Note for each Interest Period at the Debenture Rate, is not made on rate of interest equal to the earliest to occur lesser of (i) the Maturity Date, sum of the Dividends and Additional Amounts owing for the continuous Dividend Period for the Preferred Securities whether or not such Dividends or Additional Amounts are described or paid and (ii) the Prepayment Date and Maximum Rate (iiidefined below); (b) the Acceleration Date, then interest shall accrue on the The outstanding principal amount due under balance of this Debenture and on any unpaid accrued interest due on this Debenture from and after such date of default to the date of the payment in full of such amounts (including from and after the date of the entry of judgment in favor of Payee in an action to collect this Debenture) at an annual rate equal to the lesser of 18% or the maximum rate of interest permitted by applicable law (the "Maximum Rate"). 1.5. In no event shall Payee be entitled to receive interest, however characterized and including other consideration received in connection with this Debenture, at an effective rate in excess of the Maximum Rate. In the event that a court of competent jurisdiction determines that such amounts paid or agreed to be paid by Payor in connection with this Debenture causes the effective interest rate on this Debenture to exceed the Maximum Rate, such interest or other consideration shall automatically be reduced to a rate which results in an effective interest rate under this Debenture equal to the Maximum Rate over the term hereof, and, in such event, any amounts received by Payee deemed to constitute excessive interest Subordinated Promissory Note shall be applied first to the payment of accrued unpaid interest due and payable on this Debenture and then to the reduction of demand, but if no demand has been made, on August 4, 2005. Interest on the unpaid principal balance of this Debenture.Subordinated Promissory Note shall be due and payable on each Interest Payment Date, commencing on the Interest Payment Date occurring on December 31, 1997, until the maturity hereof (whether due to demand, a Maturing Event, or expiration of term), at which time all unpaid principal of and accrued interest on this Subordinated Promissory Note shall be due and payable; and 1.6. In (c) Maker may prepay principal on this Subordinated Promissory Note upon ten (10) Business Days' prior notice to Payee and the event that Placement Agent which notice shall specify the prepayment date for (which shall be a Dividend Payment Date) and the payment of any amount payable under this Debenture falls due on a Saturday, Sunday or public holiday under the laws of the State of New York, the time for payment of such amount prepayment (which shall be extended at least $10,000,000 or any whole multiple of $100,000 in excess thereof or the remaining aggregate principal balance outstanding on this Subordinated Promissory Note) and shall be irrevocable and effective only upon receipt by Payee and the Placement Agent, provided that interest on the principal prepaid, accrued to the next succeeding business day and interest at prepayment date, shall be paid on the Debenture Rate shall continue to accrue on any principal amount so effected until the payment thereof on such extended due prepayment date.