Interest and Principal Payments. Holders shall be entitled to receive, and Borrower shall pay, simple interest on the outstanding principal amount of this Note at the annual rate of eight percent (8%) (as subject to increase as set forth in this Note) from the Original Issue Date through the Maturity Date. Principal and interest shall be due and payable on the Maturity Date.
Interest and Principal Payments. Except earlier upon any acceleration of the Note:
Interest and Principal Payments. I. For TWD time deposits and simple-interest savings deposits, interests are paid once a month while principals are recovered upon maturity. For compound-interest savings deposits, interests are accrued on a compound basis and paid together with principal upon maturity. Termination beyond the scheduled maturity is subject to interest penalties according to law.
Interest and Principal Payments. Your local school bond will bear interest from the dated date, which date will be 17 days prior to the Closing Date1 set forth in the Bond Sale Agreement (or such other date set by VPSA) and will mature on July 15 of the years and in the amounts as established by VPSA. Your local school bond will bear interest payable in installments due semiannually on January 15 and July 15. The first interest installment will be payable on July 15, 2024. The first principal installment will be payable on July 15 of the year selected in the Bond Sale Agreement. The principal installments of your local school bond will bear interest at rates 5 basis points (0.05%) above the actual rates on the VPSA Bonds with corresponding principal payment dates.
Interest and Principal Payments. The aggregate unpaid principal amount of the Loan, all accrued and unpaid interest and all other amounts payable under this Note shall be due and payable on the Maturity Date.
Interest and Principal Payments. (a) Subject to the provisions of subsection (b) below, (i) each Eurodollar Rate Loan shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the Eurodollar Rate for such Interest Period plus the Applicable Rate; and (ii) each Base Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate.
Interest and Principal Payments. Interest on the outstanding principal balance of this Mortgage Note shall accrue at the rate of Eight and Two One-Hundredths (8.02%) percent per annum (the "Interest Rate") (in the event of an Event of Default, payment of an additional amount equal to interest at the Default Rate (as hereinafter defined) on the outstanding principal amount of this Mortgage Note shall also be due for each Interest Accrual Period during any part of which such Event of Default continues in accordance with the provisions of Paragraph 3 hereof). Interest at the Interest Rate shall be payable in equal monthly installments in arrears (each such monthly payment being an "Interest Installment") of $137,676.67 (except in the case of the Interest Installment due July 16, 1996, which shall be equal to $146,855.11) on or before 12:00 noon, Eastern Standard Time, on the fourth (4th) Business Day prior to the twentieth (20th) day of each calendar month or if such 20th day is not a Business Day, the next succeeding Business Day (the "Due Date") during the term hereof, commencing on July 16, 1996 the Maturity Date (as hereinafter defined) or otherwise. Interest shall be computed on the basis of a 360-day year consisting of twelve (12) months of thirty (30) days each, and thirty (30) days' interest shall be paid on each Due Date and shall accrue from and including each Due Date to but not including the next succeeding Due Date, except with respect to the Due Date on July 16, 1996 on which thirty-two (32) days' interest shall be paid. The entire outstanding principal balance of this Mortgage Note, together with all accrued but unpaid interest hereon, shall be due and payable to Lender on the Due Date in June, 2003 (the "Maturity Date") or on such earlier date as may be required under the terms of this Mortgage Note. All payments hereunder shall be made by wire transfer of immediately available funds into an account designated by Lexxxx (the "Collection Account") in accordance with the Cash Collateral Agreement. In the event of any prepayment pursuant to the provisions of Paragraphs 4 or 5 hereof, the amount of the Interest Installment shall be adjusted to reflect such prepayment.
Interest and Principal Payments. Except earlier upon any acceleration of the Notes, the Loans shall be due and payable as follows:
Interest and Principal Payments. The principal amount of the indebtedness evidenced hereby shall be payable in the amounts and on the dates specified in the Loan Agreement, the terms of which are hereby incorporated herein by reference. Interest thereon shall be paid until such principal amount is paid in full at such interest rates and at such times, and pursuant to such calculations, as are specified in the Loan Agreement.
Interest and Principal Payments. If the Company shall have paid or agreed to pay any interest or premium on this Note in excess of that permitted by law, then it is the express intent of the Company and the holder hereof that all excess amounts previously paid or to be paid by the Company be applied to reduce the principal balance of this Note, and the provisions hereof immediately be deemed reformed and the amounts thereafter collectable hereunder reduced, without the necessity of the execution of any new document, so as to comply with the then applicable law, but also so as to permit the recovery of the fullest amount otherwise called for hereunder. Interest shall be due and payable on each March 15 and September 15 beginning September 15, 2000 and ending when all outstanding amounts hereunder have been paid. Principal in the amount of $833,333 shall be due and payable on each of March 15, 2004 and March 15, 2005 and in the amount of $833,334 shall be due and payable on March 15, 2006. Notwithstanding anything to the contrary contained herein or in the Securities Exchange Agreement, however, the final payment due hereunder (whether at maturity, by acceleration or otherwise) shall be in an amount sufficient to pay in full all outstanding principal, together with all accrued interest and premiums due hereon. The interest rate payable on this Note shall increase by one percent upon any failure of the Company to make payments when due hereunder. Interest on this Note shall be computed on the basis of a 360-day year of twelve 30-day months.
