Interest and Principal. (a) On each Payment Date, Borrower shall pay to Lender (to be applied to each Note on a pro rata, pari passu basis) interest on the Principal Indebtedness for the applicable Interest Accrual Period at a rate per annum equal to (i) at any time the Loan is a LIBOR Loan, the sum of LIBOR, determined as of the Interest Determination Date immediately preceding such Interest Accrual Period, plus the applicable Spread and (ii) at any time the Loan is a Prime Rate Loan, the sum of the Prime Rate, determined as of the Interest Determination Date immediately preceding such Interest Accrual Period, plus the applicable Prime Rate Spread (except that in each case, interest shall be payable on the Indebtedness, including due but unpaid interest, at the Default Rate with respect to any portion of such Interest Accrual Period falling during the continuance of an Event of Default). As of the Closing Date, the Loan is a LIBOR Loan, and except as provided in Section 1.2(e), the Loan shall at all times be a LIBOR Loan. Notwithstanding the foregoing, on the Closing Date, Borrower shall pay interest from and including the Closing Date through the end of the first Interest Accrual Period, in lieu of making such payment on the first Payment Date following the Closing Date (unless the Closing Date falls on a Payment Date, in which case, no interest will be collected on the Closing Date, and Borrower shall make the payment required pursuant to this Section commencing on the first Payment Date following the Closing Date) and the next payment of interest shall be due and payable on the next subsequent Payment Date.
(b) No prepayments of the Loan shall be permitted except for (i) prepayments made pursuant to Section 2.1, Section 2.3 and Section 5.4 and (ii) prepayments resulting from Casualty or Condemnation as described in Section 5.16. The entire outstanding Principal Indebtedness, together with all interest thereon through (x) prior to a Securitization, the Maturity Date and (y) after a Securitization, the end of the Interest Accrual Period in which the Maturity Date falls (calculated as if such Principal Indebtedness were outstanding for the entire Interest Accrual Period) and in each case all other amounts then due under the Loan Documents shall be due and payable by Borrower to Lender on the Maturity Date.
(c) If all or any portion of the Principal Indebtedness is paid to Lender during the Spread Maintenance Period following acceleration of the Loan (except as a result of a Casu...
Interest and Principal. The Notes will mature on July 1, 2022 and will bear interest at the rate of 4.625% per annum. The Issuers will pay interest on the Notes on each January 1 and July 1 (each an “Interest Payment Date”), beginning on January 1, 2016, to the Holders of record on the immediately preceding December 15 or June 15 (each a “Record Date”), respectively. Interest on the Notes shall accrue from the most recent date to which interest has been paid or, if no interest has been paid, from and including the date of issuance. Payments of the principal of and interest on the Notes shall be made in Dollars, and the Notes shall be denominated in Dollars.
Interest and Principal. The interest on this Debenture is payable in any one (but not more than one) of the following three ways, at the Company's option (prior to an Event of Default):
(a) in such coin or currency of the United States as of the time of payment is legal tender for payment of public and private debts, (i) by wire transfer of immediately available funds to the account designated in writing by the Holder or, in the absence of such designation, (ii) at the address last appearing on the Debenture Register of the Company as designated in writing by the Holder hereof from time to time.
(b) by delivering a number of fully registered, freely tradable shares of Common Stock equal to the interest due on such Interest Payment date divided by 95% of the average of the closing bid prices of a share of Common Stock on the Principal Market ("CLOSING BID") for the five (5) Trading Days immediately prior to but not including the Interest Payment Date ("COMMON STOCK INTEREST"); or;
(c) by adding the amount thereof to the Outstanding Principal Amount due under this Debenture ("PIK INTEREST"). Except as herein provided for interest, all amounts payable under this Debenture shall be paid as provided in clause (a) above. The Company's election under (a), (b) or (c) above is irrevocable.
(d) The Company shall exercise its interest payment option hereunder by delivering an irrevocable statement in the form of Exhibit 1 hereto ("PAYMENT STATEMENT") at least ten (10) Trading Days prior to the applicable Interest Payment Date and applicable for such Interest Payment Date only. If the Payment Statement is not timely delivered to the Holder in the form elected by the Company and as otherwise provided herein, the payment with respect to such Interest Payment Date shall be paid, at the exclusive option of the Holder, either (i) in immediately available funds, or (ii) in PIK Interest. Any PIK Interest when so added to the Outstanding Principal Amount due under this Debenture shall, for all purposes of this Debenture, be deemed to be part of the principal indebtedness evidenced by this Debenture including, without limitation, for purposes of determining interest payable hereunder after the applicable Interest Payment Date for which such PIK Interest is paid and amounts convertible into Common Shares hereunder after the applicable Interest Payment Date for which such PIK Interest is paid. The Company will pay any principal due and all accrued and unpaid interest due upon this Debenture to the pers...
Interest and Principal. (a) On each Payment Date, Borrower shall pay to Lender interest in arrears on each Note for the applicable Interest Accrual Period at the applicable Interest Rate (except that in each case, interest shall be payable on the Indebtedness, including due but unpaid interest, at the Default Rate with respect to any portion of such Interest Accrual Period falling during the continuance of an Event of Default).
(b) The Loan may be prepaid in whole or in part on any Business Day; provided that any prepayment hereunder shall be accompanied by all interest accrued on the amount prepaid through and including the date of such prepayment, plus all other amounts then due under the Loan Documents. The entire outstanding principal balance of the Loan, together with interest through the Maturity Date and all other amounts then due under the Loan Documents, shall be due and payable by Borrower to Lender on the Maturity Date. Interest will cease to accrue on any portion of the Principal Indebtedness that has been repaid to Lender.
(c) Any payments of interest and/or principal not paid when due hereunder shall bear interest at the applicable Default Rate.
(d) Any and all payments by or on account of any obligation of Borrower hereunder shall be made without deduction or withholding for any taxes, except as required by law; provided that to the extent any deduction or withholding is so required by law, Borrower shall be entitled to so deduct or withhold the amounts required to be withheld or deducted from any such payment.
Interest and Principal. The Issuer promises to pay the outstanding principal amount on the Notes in full on May 28, 20[29/30]. The Notes will bear interest at a rate of [11.500/10.875]% per annum on the outstanding principal amount thereof, provided that [(i)] if the LTV Ratio (as defined in the Indenture) exceeds 62.50%, the interest rate on the Notes for each subsequent interest period will increase by 2.000% until such time as the LTV Ratio does not exceed 62.5%[, and (ii) if the Repurchase Offer Step-up Amount (as defined in the Indenture) applies, the rate of interest on the Notes shall increase by 2.000% with effect from the date that the Repurchase Offer Step-up Amount applies until the date that the Repurchase Offer Step-up Amount ceases to apply, in each case]1 pursuant to the terms of the Indenture. Interest on the Notes is payable quarterly in arrears on each Payment Date and will accrue from and including the most recent date to which interest has been paid or, if no interest has been paid, from and including the date of issuance, to but excluding such Payment Date, calculated on the basis of a 360-day year composed of twelve 30-day months. Interest will also be paid on each prepayment date, redemption date or repurchase date, as the case may be, as provided in the Indenture on the amount of principal so paid for the period from and including the most recent date to which interest has been paid or, if no interest has been paid, from and including the date of issuance to but excluding such date of payment.
Interest and Principal. The Notes will mature on May 15, 2025 and will bear interest at the rate of 7.000% per annum. The Company will pay interest on the Notes on each May 15 and November 15, or if any such day is not a Business Day, on the next succeeding Business Day (each an “Interest Payment Date”), beginning on November 15, 2015, to the Holders of record on the immediately preceding May 1 or November 1 (each a “Record Date”), respectively. Interest on the Notes shall accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the date of issuance. Payments of the principal of and interest on the Notes shall be made in Dollars, and the Notes shall be denominated in Dollars.
Interest and Principal. The interest on and principal of the Note shall be paid in accordance with the terms and conditions more particularly set forth in the Note.
Interest and Principal. Interest on the principal amount outstanding under the Loan from time to time shall accrue at a variable rate of the Prime Rate, plus seventy-five basis points (0.75%) per annum, which accrued interest shall be payable quarterly in arrears. The principal of the Note shall be repaid in full on the Maturity Date, together with all accrued but unpaid interest.
Interest and Principal. Interest and principal under the notes contemplated in the Credit Agreement have been paid current.
Interest and Principal. Interest shall accrue from the date ---------------------- of each Equipment Advance under the Equipment Facility at a rate equal to one- half of one (.50) percentage point above the Prime Rate, and shall be payable monthly on the Payment Date for each month through the month in which the Equipment Availability Date falls. Bank shall, at its option, charge such interest, all Bank Expenses and all Periodic Payments against any of Borrower's deposit accounts or against the Committed New Equipment Line, in which case those amounts unless satisfied shall thereafter accrue interest at the rate then applicable hereunder. Any interest not paid when due shall, unless satisfied, be compounded by becoming a part of the Obligations, and such interest shall thereafter accrue interest at the rate then applicable hereunder. All Equipment Advances under the Equipment Facility that are outstanding on the Equipment Availability Date will be payable in thirty-six (36) equal monthly installments of principal plus accrued interest, on the Payment Date for each month through the Equipment Maturity Date.
