Interest on Loan. (a) (i) From the Closing Date through and including the Commitment Termination Date, interest accrues on the amount outstanding from time to time under the Loan at the rate of eleven and one-half percent (11-1/2%) per annum, calculated on the basis of a 360 day year for the number of days elapsed. Interest will be capitalized on June 30, of each year of the Loan and shall be added to the principal amount outstanding at such time under the Loan.
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Samples: Loan Agreement (Intek Diversified Corp), Loan Agreement (Securicor International LTD), Loan Agreement (Intek Diversified Corp)
Interest on Loan. (a) (ia)(i) From the Closing Date through and including the Commitment Termination Date, interest accrues on the amount outstanding from time to time under the Loan at the rate of eleven and one-half Composite Prime Rate plus one percent (11-1/21%) per annum, calculated on the basis of a 360 day year for the number of days elapsed. Interest will be capitalized on June 30, of each year of the Loan Commitment Termination Date and shall be added to the principal amount outstanding at such time under the Loan.
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