Common use of INTEREST; INTEREST RATE Clause in Contracts

INTEREST; INTEREST RATE. Interest on this Note shall accrue commencing accruing on the Issuance Date at a rate of five percent (5.0%) per annum (the “Interest Rate”) and shall be computed on the basis of a 360-day year and twelve 30-day months and shall be payable in arrears for each calendar month on the first Business Day of each calendar month following the Issuance Date (each, an “Interest Date”). Interest shall be payable in cash by wire transfer of immediately available funds pursuant to wire instructions provided by the Holder in writing to the Company on each Interest Date to the record holder of this Note on the applicable Interest Date. Prior to the payment of Interest on an Interest Date, Interest on this Note shall accrue at the Interest Rate and be payable by way of inclusion of the Interest in the Outstanding Amount on each Redemption Date in accordance with the terms of this Note. From and after the occurrence and during the continuance of an Event of Default (as defined in Section 3(a)), the Interest Rate shall be increased to eighteen percent (18.0%) per annum. In the event that such Event of Default is subsequently cured, the adjustment referred to in the preceding sentence shall cease to be effective as of the date of such cure; provided, that the Interest as calculated and unpaid at such increased rate during the continuance of such Event of Default shall continue to apply to the extent relating to the days after the occurrence of such Event of Default through and including the date of cure of such Event of Default; provided, further, that for the purpose of this Section 2, such Event of Default shall not be deemed cured unless and until any accrued and unpaid Interest shall be paid to the Holder, including, without limitation, Interest accrued at the increased rate of eighteen percent (18.0%) per annum.

INTEREST; INTEREST RATE. (a) Interest on this Note shall accrue commencing accruing on from and after the Issuance Date at a rate until the indefeasible payment in full of five percent (5.0%) per annum (the “all amounts due under this Note. Interest Rate”) and shall be computed on the basis of actual number of days elapsed over a 360-day year and twelve 30-day months and shall be payable in arrears for each calendar month on the first Business Day of each calendar month following the Issuance Date (each, an “Interest Date”)year. Interest shall be payable in cash by wire transfer of immediately available funds pursuant to wire instructions provided by the Holder in writing to the Company on each Interest Date to the record holder of this Note on the applicable Interest Date. Prior to the payment of Interest on an Interest Date, Interest on this Note shall accrue at the Interest Rate; provided, however, that if Holder shall default in payment of Principal or Interest or any other amount becoming due hereunder, whether at scheduled maturity, by mandatory prepayment, acceleration or otherwise, or if any other Event of Default has occurred, or if this Note shall not have been converted and any portion of the Principal or Interest shall remain outstanding after the Maturity Date (each, a “Default Interest Event”), then commencing on the date of the occurrence of such Default Interest Event and on each monthly anniversary thereafter, the Interest Rate shall increase by 100 basis points until the indefeasible payment in full of all amounts due under this Note or in the case of an Event of Default, such Event of Default has been cured, but in no event shall the Interest Rate exceed seventeen and one-half percent (17.5%) per annum. From and after the occurrence of any Default Interest Event or in the case of an Event of Default, until such Event of Default has been cured, all accrued and unpaid Interest shall be payable upon demand. If this Note converts pursuant to Section 5, Interest shall be due upon such conversion and shall be payable by way of inclusion of the Interest in the Outstanding Conversion Amount on each Redemption Date in accordance with Section 5, otherwise, all Interest shall be payable in cash in accordance with the terms of this Note. From and after the occurrence and during the continuance of an Event of Default (as defined in Section 3(a)), the Interest Rate shall be increased to eighteen percent (18.0%) per annum. In the event that such Event of Default is subsequently cured, the adjustment referred to in the preceding sentence shall cease to be effective as of the date of such cure; provided, that the Interest as calculated and unpaid at such increased rate during the continuance of such Event of Default shall continue to apply to the extent relating to the days after the occurrence of such Event of Default through and including the date of cure of such Event of Default; provided, further, that for the purpose of this Section 2, such Event of Default shall not be deemed cured unless and until any accrued and unpaid Interest shall be paid to the Holder, including, without limitation, Interest accrued at the increased rate of eighteen percent (18.0%) per annumhereof.

INTEREST; INTEREST RATE. Interest on this Convertible Note shall accrue commencing commence accruing on the Issuance Amendment Date at a rate of five percent (5.0%) per annum (the “Interest Rate”) and shall be computed on the basis of a 360365-day year and twelve 30-day months actual days elapsed and shall be payable in arrears for each calendar month on August 31, 2008 and the first Business Day of each calendar month following the Issuance Maturity Date (eachthe period of such accruing interest being referred to as an “Interest Period” and each such date, an “Interest Date”); provided, that accrued and unpaid Interest on this Convertible Note in an amount equal to $[ ] shall be paid to the Holder on or prior to June 30, 2008 (any such date for purposes hereof, also an Interest Date). Interest shall be payable in cash by wire transfer of immediately available funds pursuant to wire instructions provided by the Holder in writing to the Company on each Interest Date for the applicable Interest Period, to the record holder of this Convertible Note on the applicable Interest Date, entirely in cash. Prior to the payment of Interest on an Interest Date, Interest on this Convertible Note shall accrue at the Interest Rate and be payable by way of inclusion of the Interest in the Outstanding Conversion Amount on each Redemption Date in accordance with the terms of this NoteSection 3(b)(i). From and after the occurrence and during the continuance of If an Event of Default (as defined in Section 3(a)), the Interest Rate shall be increased to eighteen percent (18.0%) per annum. In the event that occurs and such Event of Default is subsequently cured, the adjustment referred to in the preceding sentence Section 29(xxi) shall cease to be effective as of the date of such cure; provided, provided that the Interest as calculated and unpaid at such increased rate during the continuance of such Event of Default shall continue to apply to the extent relating to the days after the occurrence of such Event of Default through and including the date of cure of such Event of Default; provided, further, that for the purpose of this Section 2, such Event of Default shall not be deemed cured unless and until any accrued and unpaid Interest shall be paid to the Holder, including, without limitation, Interest accrued at the increased rate of eighteen percent (18.0%) per annum.

INTEREST; INTEREST RATE. Interest on this Note shall accrue commencing at the applicable Interest Rate and shall commence accruing on the Issuance Date at a rate of five percent (5.0%) per annum (the “and Interest Rate”) and shall be computed on the basis of a 360-day year and twelve 30-day months and shall be payable in cash to the record Holder in arrears for each calendar month on the first Business Day March 15, June 15, September 15 and December 15 of each calendar month following year, beginning with March 15, 2017 and ending on the Issuance Date repayment of the Note; provided, however, that the Company shall make the December 15, 2019 interest payment on December 16, 2019 as follows: (eachx) 50% of such payment shall be made in cash and (y) 50% of such payment shall be made through the issuance of an additional Note to the Holder within two (2) Business Days of such date in the form attached to the Purchase Agreement (with such changes thereto as contemplated by the Senior Secured Note Amendment Agreement No. 1 dated as of December 16, an 2019) with a Principal amount equal thereto; it being understood that such additional Note shall be deemed a Note issued under the Purchase Agreement (each a “Interest DatePIK Note”). Interest shall be payable in cash by wire transfer of immediately available funds pursuant to wire instructions provided by the Holder in writing to the Company on each Interest Date to the record holder of this Note on the applicable Interest Date. Prior to the payment of Interest on an Interest Date, Interest on this Note shall accrue at the Interest Rate and be payable by way of inclusion of the Interest in the Outstanding Amount on each Redemption Date in accordance with the terms of this Note. From and after the occurrence and during the continuance of an any Event of Default Default, the applicable Interest Rate shall automatically be increased by two percent (as defined in Section 3(a)), 2%) per annum above the Interest Rate otherwise applicable in accordance with the terms hereof, and all such interest shall be increased to eighteen percent (18.0%) per annumpayable on demand. In the event that such Event of Default is subsequently cured, the adjustment referred to in the preceding sentence shall cease to be effective as of the date of such cure; provided, provided that the Interest as calculated and unpaid at such increased rate during the continuance of such Event of Default shall continue to apply to the extent relating to the days after the occurrence of such Event of Default through and including the date of such cure of such Event of Default; provided, further, that for the purpose of . Any payments made pursuant to this Section 2, such Event of Default shall not be deemed cured unless and until any accrued and unpaid Interest 2 shall be paid applied pro rata to the Holder, including, without limitation, Interest accrued at Note and the increased rate of eighteen percent (18.0%) per annumOther Notes in accordance with the respective Principal amounts thereof.”

INTEREST; INTEREST RATE. Interest on this Note shall accrue commencing commence accruing on the Issuance Date at a rate of five percent (5.0%) per annum (the “Interest Rate”) and shall be computed on the basis of a 360365-day year and twelve 30-day months actual days elapsed and shall be payable payable, as adjusted pursuant to Section 25(a), in arrears for on (i) the last day of each calendar month Quarterly Period from the Issuance Date to the 1st anniversary of the Issuance Date, (ii) the last day of each Monthly Period from the 1st anniversary of the Issuance Date thereafter to the Maturity Date, and (iii) on the first Business Day of each calendar month following the Issuance Maturity Date (each, an “Interest Date”)) with the first Interest Date being __________, 2016. Interest shall be payable in cash by wire transfer of immediately available funds pursuant to wire instructions provided by the Holder in writing to the Company on each Interest Date in cash, to the record holder of this Note on the applicable Interest Date. Prior to the payment of Interest on an Interest Date, Interest on this Note shall accrue at the Interest Rate and be payable by way of inclusion of the Interest in the Outstanding Conversion Amount on each Redemption Date (as defined below) in accordance with the terms of this NoteSection 3(b)(i). From and after the occurrence and during the continuance of an Event of Default (as defined in Section 3(a))Default, the Interest Rate shall be increased to eighteen by four percent (18.04%) per annum. In the event that such Event of Default is subsequently cured, the adjustment referred to in the preceding sentence shall cease to be effective as of the date of such cure; provided, provided that the Interest as calculated and unpaid at such increased rate during the continuance of such Event of Default shall continue to apply to the extent relating to the days after the occurrence of such Event of Default through and including the date of cure of such Event of Default; provided, further, that for the purpose of this Section 2, such Event of Default shall not be deemed cured unless and until any accrued and unpaid Interest shall be paid to the Holder, including, without limitation, Interest accrued at the increased rate of eighteen percent (18.0%) per annum.

INTEREST; INTEREST RATE. Interest on this Note shall accrue commencing commence accruing on the Issuance Date at a rate of five percent (5.0%) per annum (the “Interest Rate”) and shall be computed on the basis of a 360365-day year and twelve 30-day months actual days elapsed and shall be payable in arrears for each calendar month on the first Business Day last day of each calendar month following March, June, September and December (the period of such accruing interest being referred to as an “Interest Period”) during the period beginning on the Issuance Date and ending on, and including, the Maturity Date (each, an “Interest Date”)) with the first Interest Date being March 31, 2005. Interest shall be payable in cash by wire transfer of immediately available funds pursuant to wire instructions provided by the Holder in writing to the Company on each Interest Date for the applicable Interest Period, to the record holder of this Note on the applicable Interest Date, entirely in cash (“Cash Interest”) or, at the option of the Company, entirely by increasing the amount of Principal outstanding under this Note (“Accreted Interest”); provided that the Interest which accrued during any period shall be payable as Accreted Interest if, and only if, the Company delivers written notice of such election (each, an “Interest Election Notice”) to each holder of the Notes at least twenty (20) Business Days prior to the applicable Interest Date (each, an “Interest Election Date”). Prior to the payment of Interest on an Interest Date, Interest on this Note shall accrue at the Interest Rate and be payable by way of inclusion of the Interest in the Outstanding Conversion Amount on each Redemption Date in accordance with the terms of this NoteSection 3(b)(i). From and after the occurrence and during the continuance of If an Event of Default (as defined in Section 3(a)), the Interest Rate shall be increased to eighteen percent (18.0%) per annum. In the event that occurs and such Event of Default is subsequently cured, the adjustment referred to in the preceding sentence Section 29(xix)(6) shall cease to be effective as of the date of such cure; provided, provided that the Interest as calculated and unpaid at such increased rate during the continuance of such Event of Default shall continue to apply to the extent relating to the days after the occurrence of such Event of Default through and including the date of cure of such Event of Default; provided, further, that for the purpose of this Section 2, such Event of Default shall not be deemed cured unless and until any accrued and unpaid Interest shall be paid to the Holder, including, without limitation, Interest accrued at the increased rate of eighteen percent (18.0%) per annum.

INTEREST; INTEREST RATE. (a) Interest on this Note shall accrue commencing (i) commence accruing on the Issuance Date at a rate of five percent Date, (5.0%ii) per annum (the “Interest Rate”) and shall be computed on the basis of actual number of days in a 360-day year year, and twelve 30-day months (iii) be payable, at the election of the Issuer, in cash or in kind (in accordance with Section 2(b) below) on the Interest Date with respect to each Interest Period in accordance with the terms of this Note (excluding, for the avoidance of doubt, any period during which Interest ceases to accrue pursuant to the terms of this Note). All such Interest shall accrue at the applicable Interest Rate with respect to such Interest Period; provided that notwithstanding the foregoing, if an Event of Default has occurred and is continuing, Interest shall accrue, to the fullest extent permitted by Applicable Law, at a rate equal to the applicable Interest Rate plus 2.00% per annum (which additional 2.00% per annum shall be payable in arrears for each calendar month on cash) until the first Business Day relevant Event of each calendar month following Default shall have been cured or waived in accordance with the Issuance Date (each, an “Interest Date”). Interest shall be payable in cash by wire transfer of immediately available funds pursuant to wire instructions provided by the Holder in writing to the Company on each Interest Date to the record holder terms of this Note on Note. In the applicable Interest Date. Prior case of a conversion in accordance with Section 5, a redemption in accordance with Section 6 or any required payment upon a Change of Control Transaction or Event of Default, in each case, prior to the payment of Interest on an Interest Date, accrued and unpaid Interest on this Note as of the date of any such event shall accrue at the Interest Rate and be payable by way of inclusion of the such Interest in the Outstanding Amount on each Redemption Date in accordance with the terms of this Note. From and after the occurrence and during the continuance of an Event of Default (as defined in Section 3(a))Optional Conversion Amount, the Interest Rate shall be increased to eighteen percent (18.0%) per annum. In the event that such Event of Default is subsequently curedAutomatic Conversion Amount, the adjustment referred to in Optional Redemption Price, or the preceding sentence shall cease to be effective Forced Redemption Price, as of applicable, on the applicable date of such cure; provided, that the Interest as calculated and unpaid at such increased rate during the continuance of such Event of Default shall continue to apply to the extent relating to the days after the occurrence of such Event of Default through and including the date of cure of such Event of Default; provided, further, that for the purpose of this Section 2, such Event of Default shall not be deemed cured unless and until any accrued and unpaid Interest shall be paid to the Holder, including, without limitation, Interest accrued at the increased rate of eighteen percent (18.0%) per annumconversion or Redemption Date.

INTEREST; INTEREST RATE. Interest on this Note shall accrue commencing at the applicable Interest Rate and shall commence accruing on the Issuance Date at a rate of five percent (5.0%) per annum (the “and Interest Rate”) and shall be computed on the basis of a 360-day year and twelve 30-day months and shall be payable in cash to the record Holder in arrears for each calendar month on the first Business Day March 15, June 15, September 15 and December 15 of each calendar month following year, beginning with March 15, 2017 and ending on the Issuance Date repayment of the Note; provided, however, that the Company shall make the December 15, 2019 interest payment on December 16, 2019 as follows: (eachx) 50% of such payment shall be made in cash and (y) 50% of such payment shall be made through the issuance of an additional Note to the Holder within two (2) Business Days of such date in the form attached to the Additional Purchase Agreement (with such changes thereto as contemplated by the Senior Secured Note Amendment Agreement No. 1 dated as of December 16, an 2019) with a Principal amount equal thereto; it being understood that such additional Note shall be deemed a Note issued under the Additional Purchase Agreement (each a “Interest DatePIK Note”). Interest shall be payable in cash by wire transfer of immediately available funds pursuant to wire instructions provided by the Holder in writing to the Company on each Interest Date to the record holder of this Note on the applicable Interest Date. Prior to the payment of Interest on an Interest Date, Interest on this Note shall accrue at the Interest Rate and be payable by way of inclusion of the Interest in the Outstanding Amount on each Redemption Date in accordance with the terms of this Note. From and after the occurrence and during the continuance of an any Event of Default Default, the applicable Interest Rate shall automatically be increased by two percent (as defined in Section 3(a)), 2%) per annum above the Interest Rate otherwise applicable in accordance with the terms hereof, and all such interest shall be increased to eighteen percent (18.0%) per annumpayable on demand. In the event that such Event of Default is subsequently cured, the adjustment referred to in the preceding sentence shall cease to be effective as of the date of such cure; provided, provided that the Interest as calculated and unpaid at such increased rate during the continuance of such Event of Default shall continue to apply to the extent relating to the days after the occurrence of such Event of Default through and including the date of such cure of such Event of Default; provided, further, that for the purpose of . Any payments made pursuant to this Section 2, such Event of Default shall not be deemed cured unless and until any accrued and unpaid Interest 2 shall be paid applied pro rata to the Holder, including, without limitation, Interest accrued at Note and the increased rate of eighteen percent (18.0%) per annumOther Notes in accordance with the respective Principal amounts thereof.”

INTEREST; INTEREST RATE. Interest on this Note shall accrue commencing commence accruing on the Issuance Date at a rate of five percent (5.0%) per annum (the “Interest Rate”) and shall be computed on the basis of a 360365-day year and twelve 30-day months actual days elapsed and shall be payable in arrears for each calendar month during the period beginning on the first Business Day of each calendar month following the Issuance Date and ending on, and including, the Maturity Date, on the six (6) month anniversary of the Issuance Date, on the twelve (12) month anniversary of the Issuance Date, on the eighteen (18) month anniversary of the Issuance Date, on the twenty-four (24) month anniversary of the Issuance Date, on the thirty (30) month anniversary of the Issuance Date, on the thirty six (36) month anniversary of the Issuance Date, on the forty two (42) month anniversary of the Issuance Date, on the forty eight (48) month anniversary of the Issuance Date, on the fifty-four (54) month anniversary of the Issuance Date, on the sixty (60) month anniversary of the Issuance Date and on the Maturity Date (if the Maturity Date is not the sixty month anniversary of the Issuance Date) (each, an “Interest Date”). Interest shall be payable in cash by wire transfer of immediately available funds pursuant to wire instructions provided by the Holder in writing to the Company on each Interest Date Date, to the record holder of this Note on the applicable Interest Date. Prior to the payment of Interest on an Interest Date, Interest on this Note shall accrue at the Interest Rate and be payable by way of inclusion of the Interest in the Outstanding Amount on each Redemption Date in accordance with the terms of this Notecash (“Cash Interest”). From and after the occurrence and during the continuance of an Event of Default, a Listing Default (as defined in Section 3(a))or an Initial Listing Default, the Interest Rate shall be increased to eighteen percent 10% (18.0%) per annumthe “Default Interest”). In the event that such Event of Default, Listing Default or Initial Listing Default is subsequently cured, the adjustment referred to in the preceding sentence shall cease to be effective as of the date of such cure; provided, provided that the Interest as calculated and unpaid at such increased rate during the continuance of such Event of Default shall continue to apply to the extent relating to the days after the occurrence of such Event of Default through and including the date of cure of such Event of Default; provided, further, that for the purpose of this Section 2, such Event of Default shall not be deemed cured unless and until any accrued and unpaid Interest . The Company shall be paid required to the Holder, including, without limitation, pay all Default Interest accrued at the increased rate of eighteen percent (18.0%) per annumin cash.”

INTEREST; INTEREST RATE. Interest on this Note shall accrue commencing commence ------------------------- accruing on the Issuance Date at a rate of five percent (5.0%) per annum (the “Interest Rate”) and shall be computed on the basis of a 360365-day year and twelve 30-day months actual days elapsed and shall be payable in arrears for each calendar month Payment Month on the first Business Day of each calendar month following Installment Date during the period beginning on the Issuance Date (eachand ending on, an “Interest and including, the Maturity Date”). Interest shall be payable in cash by wire transfer of immediately available funds pursuant to wire instructions provided by the Holder in writing on each Installment Date, to the Company record holder of this Note on each the applicable Installment Date, and to the extent that any Principal amount of this Note is converted prior to such Installment Date, accrued and unpaid Interest with respect to such converted Principal amount and accrued and unpaid Late Charges with respect to such Principal and Interest shall be paid through the Conversion Date (as defined below) on the next succeeding Installment Date to the record holder of this Note on the applicable Interest Conversion Date, in cash ("CASH INTEREST"). Prior to the payment of Interest on an Interest Installment Date, Interest on this Note shall accrue at the Interest Rate and be payable by way of inclusion of the Interest in the Outstanding Amount on each Redemption Date in accordance with the terms of this NoteRate. From and after Upon the occurrence and during the continuance of an Event of Default (as defined in Section 3(a))Default, the Interest Rate shall be increased to eighteen fifteen percent (18.015%) per annum). In the event that such Event of Default is subsequently cured, the adjustment referred to in the preceding sentence shall cease to be effective as of the date of such cure; provided, provided that the Interest as calculated and unpaid at such increased rate during the continuance of such Event of Default shall continue to apply to the extent relating to the days after the occurrence of such Event of Default through and including the date of cure of such Event of Default. The Company shall pay any and all taxes that may be payable with respect to the issuance and delivery of Interest Shares; provided, further, provided that for the purpose of this Section 2, such Event of Default Company shall not be deemed cured unless and until -------- required to pay any accrued and unpaid tax that may be payable in respect of any issuance of Interest shall be paid Shares to any Person other than the Holder, including, without limitation, Holder or with respect to any income tax due by the Holder with respect to such Interest accrued at the increased rate of eighteen percent (18.0%) per annumShares.