Interest on Note. (a) Company shall pay interest to Purchaser, ---------------- semi-annually in arrears on the last day of each July and January, commencing on January 31, 2000 (each, an "Interest Payment Date"), at a rate equal to 6.30% per annum, based on a year of 360 days for the actual number of days elapsed, and based on the amounts outstanding from time to time under the Note.
(b) If any payment on the Note becomes due and payable on a day other than a Business Day, the maturity thereof shall be extended to the next succeeding Business Day and, with respect to payments of principal, interest thereon shall be payable at the then applicable rate during such extension.
(c) So long as any Event of Default shall be continuing, the interest rate applicable to the Note shall be increased by 2% per annum above the rate otherwise applicable.
(d) Notwithstanding anything to the contrary set forth in this Section 2.6, if at any time until payment in full of the Note, the interest rate payable thereon exceeds the highest rate of interest permissible under any law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto (the "Maximum Lawful Rate"), then in such event and so long as the Maximum Lawful Rate would be so exceeded, the rate of interest payable on the Note shall be equal to the Maximum Lawful Rate; provided, however, that -------- ------- if at any time thereafter the interest rate payable thereon is less than the Maximum Lawful Rate, Company shall continue to pay interest thereunder at the Maximum Lawful Rate until such time as the total interest received by Purchaser is equal to the total interest which it would have received had the interest rate on the Note been (but for the operation of this paragraph) the interest rate payable since the Closing Date. Thereafter, the interest rate payable shall be the stated interest rate unless and until such rate again exceeds the Maximum Lawful Rate, in which event this paragraph shall again apply. In no event shall the total interest received by Purchaser pursuant to the terms hereof exceed the amount which it could lawfully have received had the interest due hereunder been calculated for the full term hereof at the Maximum Lawful Rate. In the event the Maximum Lawful Rate is calculated pursuant to this paragraph, such interest shall be calculated at a daily rate equal to the Maximum Lawful Rate divided by the number of days in the year in which such calculation is made. In the event tha...
Interest on Note. The Borrower hereby agrees to pay interest on the Unpaid Principal Balance of the Note for the period commencing on the date of this Agreement until the Unpaid Principal Balance of the Note is paid in full, as follows:
Interest on Note. The Co-Borrowers hereby agree to pay interest on the unpaid principal amount of each Note for the period commencing on the date of this Agreement until the unpaid principal amount thereof is paid in full, in accordance with the following:
Interest on Note. The Note is non-interest bearing. To the extent that interest is imputed by the Internal Revenue Service, Maker shall be liable for payment of such imputed interest at the Maturity Date.
Interest on Note. (a) In the case of a Eurodollar Loan, interest shall be payable at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 360 days) equal to the LIBO Rate plus the Applicable Margin. Interest shall be payable on each Eurodollar Loan on each applicable Interest Payment Date, at maturity and on the date of a conversion of such Eurodollar Loan to an Alternate Base Rate Loan. The Lender shall determine the applicable LIBO Rate for each Interest Period as soon as practicable on the date when such determination is to be made in respect of such Interest Period and shall notify the Borrower of the applicable interest rate so determined. Such determination shall be conclusive absent manifest error.
(b) In the case of an Alternate Base Rate Loan, interest shall be payable at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365/366 days, as the case may be, during such times as the Alternate Base Rate is based upon the Prime Rate, and over a year of 360 days at all other times) equal to the Alternate Base Rate plus the Applicable Margin. Interest shall be payable on each Alternate Base Rate Loan on each applicable Interest Payment Date and at maturity.
(c) Anything in this Credit Agreement or the Note to the contrary notwithstanding, the interest rate on the Loans shall in no event be in excess of the maximum permitted by Applicable Law.
Interest on Note. Subject to Section 5.2, interest shall accrue on the Principal Amount of the Note, from day to day, before as well as after maturity, before as well as after default and before as well as after judgement, at a rate of 8.00% per annum, commencing on the Issue Date, and payable in cash, on the Maturity Date.
Interest on Note. (a) Company shall pay interest to Purchaser, quarterly in arrears on the last day of each calendar quarter, commencing on June 30, 1997 (each, an "Interest Payment Date"), at a rate equal to 11% per annum, based on a year of 365 (or 366) days for the actual number of days elapsed, and based on the amounts outstanding from time to time under the Note.
Interest on Note. (a) The rate of interest payable on the Principal Amount of the Note is the Finance Rate.
(b) Interest on the Principal Amount of the Note shall accrue from day to day and shall be payable in arrears on each Payment Date.
Interest on Note. In the event that any Promissory Note issued by the Purchaser under this Agreement is subject to the provisions of Section 1274 of the Internal Revenue Code of 1986, as amended (the "Code"), and would have original issue discount subject to Section 1272 of the Code, the Company and the Purchaser agree to make and file a timely election under Section 1274A(c) of the Code and regulations thereunder to account for all of the interest on such Note on the cash receipts and disbursements method for Federal income tax purposes.
Interest on Note. (a) The Base Rate Obligation shall bear interest for the period commencing with the Reference Date thereof and ending on the date on which such Base Rate Obligation is converted to a LIBOR Rate Obligation at the rate of one percent (1.0%) per annum above the Base Rate.
(b) The LIBOR Rate Obligation shall bear interest for the period commencing with the Reference Date thereof and ending on the last day of the Interest Period with respect thereto at the rate per annum equal to the sum of three and one-half percent (3.5%) plus the LIBOR Rate determined for such Interest Period.
(c) The Company promises to pay interest on the Note in arrears on each Interest Payment Date with respect thereto.
(d) The Base Rate Obligation and the LIBOR Rate Obligation may be converted to the other Type as provided in Section 4.1
