Common use of Interest and Principal Clause in Contracts

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.