Interest; Interest Rate; Payment. (a) The Note shall bear interest (other than interest accruing as a result of a failure by Seller to pay any amount when due as set forth in clause (b) below) at a rate equal to ten (10%) percent (the "Interest Rate") per annum on a 360-day year. Interest (other than interest accruing as a result of a failure by Seller to pay any amount when due as set forth in subparagraph (b) below) shall be due and payable in cash semi-annually in arrears following the end of each semi-annual period, commencing with the semi-annual period ended June 30, 2006, pro rated for partial periods; PROVIDED, HOWEVER, that any interest accruing on overdue amounts pursuant to subparagraph (b) of this Section 3.3 shall be payable on demand.
Appears in 12 contracts
Samples: Note and Warrant Purchase Agreement (Kimberlin Kevin), Note Purchase Agreement (Vyteris Holdings (Nevada), Inc.), Note Purchase Agreement (Kimberlin Kevin)
Interest; Interest Rate; Payment. (a) The Note shall bear interest (other than interest accruing as a result of a failure by Seller to pay any amount when due as set forth in clause (b) below) at a rate equal to ten (10%) percent (the "Interest Rate") per annum on a 360-day year. Interest (other than interest accruing as a result of a failure by Seller to pay any amount when due as set forth in subparagraph (b) below) shall be due and payable in cash semi-annually in arrears following the end of each semi-annual period, commencing with the semi-annual period ended June 30, 2006, pro rated for partial periods; PROVIDEDprovided, HOWEVERhowever, that any interest accruing on overdue amounts pursuant to subparagraph (b) of this Section 3.3 shall be payable on demand.
Appears in 10 contracts
Samples: Note Purchase Agreement (Vyteris Holdings (Nevada), Inc.), Note Purchase Agreement (Vyteris Holdings (Nevada), Inc.), Note Purchase Agreement (Vyteris Holdings (Nevada), Inc.)
Interest; Interest Rate; Payment. (a) The Note shall bear interest (other than interest accruing as a result of a failure by Seller to pay any amount when due as set forth in clause (b) below) at a rate equal to ten (10%) percent (the "Interest Rate") per annum on a 360-day 360day year. Interest (other than interest accruing as a result of a failure by Seller to pay any amount when due as set forth in subparagraph (b) below) shall be due and payable in cash semi-annually semiannually in arrears following the end of each semi-annual period, commencing with the semi-annual semiannual period ended June 30, 2006, pro rated for partial periods; PROVIDED, HOWEVER, that any interest accruing on overdue amounts pursuant to subparagraph (b) of this Section 3.3 shall be payable on demand.
Appears in 2 contracts
Samples: Note Purchase Agreement (Vyteris Holdings (Nevada), Inc.), Note Purchase Agreement (Vyteris Holdings (Nevada), Inc.)
Interest; Interest Rate; Payment. (a) The Note shall bear interest (other than interest accruing as a result of a failure by Seller to pay any amount when due as set forth in clause (b) below) at a rate equal to ten (10%) percent (the "Interest Rate") per annum on a 360-day year. Interest (other than interest accruing as a result of a failure by Seller to pay any amount when due as set forth in subparagraph (b) below) shall be due and payable in cash semi-annually in arrears following the end of each semi-annual period, commencing with the semi-annual period ended June 30December 31, 2006, pro rated for partial periods; PROVIDEDprovided, HOWEVERhowever, that any interest accruing on overdue amounts pursuant to subparagraph (b) of this Section 3.3 shall be payable on demand.
Appears in 2 contracts
Samples: Note Purchase Agreement (Vyteris Holdings (Nevada), Inc.), Note Purchase Agreement (Vyteris Holdings (Nevada), Inc.)
Interest; Interest Rate; Payment. (a) The Note shall bear interest (other than interest accruing as a result of a failure by Seller to pay any amount when due as set forth in clause (b) below) at a rate equal to ten (10%) percent (the "Interest Rate") per annum on a 360-day year. Interest (other than interest accruing as a result of a failure by Seller to pay any amount when due as set forth in subparagraph (b) below) shall be due and payable in cash semi-annually in arrears following the end of each semi-annual period, commencing with the semi-annual period ended June 30June30, 2006, pro rated for partial periods; PROVIDED, HOWEVER, that any interest accruing on overdue amounts pursuant to subparagraph (b) of this Section 3.3 shall be payable on demand.
Appears in 1 contract
Samples: Note Purchase Agreement (Vyteris Holdings (Nevada), Inc.)
Interest; Interest Rate; Payment. (a) The Note shall bear bear, interest (other than interest accruing as a result of a failure by Seller to pay any amount when due as set forth in clause (b) below) at a rate equal to ten (10%) percent (the "Interest Rate") per annum on a 360-day year. Interest (other than interest accruing as a result of a failure by Seller to pay any amount when due as set forth in subparagraph (b) below) shall be due and payable in cash semi-annually in arrears following the end of each semi-annual period, commencing with the semi-annual period ended June 30, 2006, pro rated for partial periods; PROVIDED, HOWEVER, that any interest accruing on overdue amounts pursuant to subparagraph (b) of this Section 3.3 shall be payable on demand.
Appears in 1 contract
Samples: Note Purchase Agreement (Vyteris Holdings (Nevada), Inc.)
Interest; Interest Rate; Payment. (a) The Note shall bear interest (other than interest accruing as a result of a failure by Seller to pay any amount when due as set forth in clause (b) below) at a rate equal to ten (10%) percent (the "Interest Rate") per annum on a 360-day year. Interest (other than interest accruing as a result of a failure by Seller to pay any amount when due as set forth in subparagraph (b) belowblow) shall be due and payable in cash semi-annually semiannually in arrears following the end of each semi-annual period, commencing with the semi-annual period ended June 30, 2006, pro rated for partial periods; PROVIDED, HOWEVER, that any interest accruing on overdue amounts pursuant to subparagraph (b) of this Section 3.3 shall be payable on demand.
Appears in 1 contract
Interest; Interest Rate; Payment. (a) The Note shall bear interest (other than interest accruing as a result of a failure by Seller to pay any amount when due as set forth in clause (b) below) at a rate equal to ten (10%) percent (the "Interest Rate") per annum on a 360-360- day year. Interest (other than interest accruing as a result of a failure by Seller to pay any amount when due as set forth in subparagraph (b) below) shall be due and payable in cash semi-annually semiannually in arrears following the end of each semi-annual period, commencing with the semi-annual semiannual period ended June 30, 2006, pro rated for partial periods; PROVIDED, HOWEVER, that any interest accruing on overdue amounts pursuant to subparagraph (b) of this Section 3.3 shall be payable on demand.
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