Interest on the Notes. (a) The outstanding principal balance of the Notes shall accrue and bear interest at a rate per annum of 10.75% (the "Interest Rate").
(b) Interest on the Notes shall be payable in cash by Borrowers to Lender quarterly in arrears (on March 31, June 30, September 30 and December 31 of each year), except that no interest payment shall be required to be paid by the Borrowers until the first anniversary of the date of issuance of the Term A Notes; provided, however, if no Event of Default has occurred and is continuing, the Borrowers may defer any scheduled interest payment until the Maturity Date. Upon each such deferral, Borrowers shall deliver to Lender a convertible promissory note substantially in the form of Exhibit D hereto (each, a "PIK Note"). The outstanding principal balance of the PIK Notes shall accrue and bear interest at the Interest Rate, subject to adjustment in accordance with Section 1.4(e). The PIK Notes shall be eligible for conversion in accordance with Article 2 of this Agreement.
(c) If any payment on the Notes (including payment of interest and Fees) becomes due and payable on a day other than a Business Day, the maturity thereof will 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.
(d) All computations of interest and Fees calculated on a per annum basis shall be made by the Lender on the basis of a three hundred and sixty- five (365) day year, in each case for the actual number of days occurring in the period for which such interest and Fees are payable.
(e) So long as any Event of Default shall have occurred and be continuing, the interest rates applicable to the Notes shall be increased by two percentage points (2%) per annum above the rates of interest or the rate of such Fees otherwise applicable hereunder ("Default Rate"), and all outstanding Obligations shall bear interest at the Default Rate applicable to such Obligations. Interest at the Default Rate shall accrue from the initial date of such Event of Default until that Event of Default is cured or waived and shall be payable upon demand.
(f) Notwithstanding anything to the contrary set forth in this Section 1.4, if a court of competent jurisdiction determines in a final order that the rate of interest payable on the Notes exceeds the highest rate of interest permissible under law (the "Maximum Lawful Rate"), then so long as the Maximum Lawful Rate w...
Interest on the Notes. Interest shall accrue at the rate specified in the Notes. The Bank may, at its option, calculate and charge interest as though each payment is made on the payment due date with principal reductions effective as of the date of receipt.
Interest on the Notes. The unpaid principal amount of the Notes (including any PIK Interest) shall bear interest at a rate equal to LIBOR plus 2% per annum; provided that upon and during the continuance of an Event of Default under Section 7.1.1, the interest rate shall increase by an additional 2% per annum. Interest on the Notes shall be paid on the last Business Day of each calendar quarter (the “Interest Payment Date”), starting with the calendar quarter ending March 31, 2014. Such interest may be paid in cash at the option of the Company (and shall be paid in cash to the extent of any unapplied Monetization Revenues) and otherwise shall be paid by increasing the principal amount of the Notes by the amount of such interest, effective as of the applicable Interest Payment Date (“PIK Interest”).
Interest on the Notes. (a) Interest payable on any Interest Payment Date, Maturity Date or Redemption Date, shall be the amount of interest accrued from, and including, the immediately preceding Interest Payment Date in respect of which interest has been paid or duly provided for (or from and including the Issue Date, if no interest has previously been paid or duly provided for) to, but excluding, such Interest Payment Date, Maturity Date or, if applicable, Redemption Date, as the case may be. Interest on the Notes will be computed on the basis of the actual number of days in the period for which interest is being calculated and the actual number of days from and including the last date on which interest was paid on the Notes (or the Issue Date if no interest has been paid on the Notes), to but excluding the next scheduled Interest Payment Date, Maturity Date or Redemption Date, as applicable. This payment convention is referred to as ACTUAL/ACTUAL (ICMA) as defined in the rulebook of the International Capital Markets Association.
(b) The 2026 Notes will bear interest at the rate of 0.200% per year; the 2028 Notes will bear interest at the rate of 0.450% per year; the 2031 Notes will bear interest at the rate of 0.750% per year; the 2039 Notes will bear interest at the rate of 1.350% per year; and the 2049 Notes will bear interest at the rate of 1.800% per year. Interest on the 2026 Notes shall be payable annually in arrears on March 18 of each year (each, a “2026 Notes Interest Payment Date”), commencing March 18, 2020; interest on the 2028 Notes shall be payable annually in arrears on March 18 of each year (each, a “2028 Notes Interest Payment Date”), commencing March 18, 2020; interest on the 2031 Notes shall be payable annually in arrears on September 18 of each year (each, a “2031 Notes Interest Payment Date”), commencing September 18, 2020; interest on the 2039 Notes shall be payable annually in arrears on September 18 of each year (each, a “2039 Notes Interest Payment Date”), commencing September 18, 2020; and interest on the 2049 Notes shall be payable annually in arrears on September 18 of each year (each, a “2049 Notes Interest Payment Date”), commencing September 18, 2020, in each case to the Persons in whose names such Notes are registered at the close of business on the Record Date for such Interest Payment Date, except as provided in Section 2.06.
Interest on the Notes. Interest will accrue on the Notes from and including the issue date until such principal is paid in full (whether at maturity or by redemption or conversion) and be payable in arrears on each of March 31, June 30, September 30, December 31 of each year, commencing June 30, 2007, and on the date on which such principal is repaid in full (whether at maturity or by redemption or conversion). The Notes will bear interest on the outstanding principal amount thereof at a rate equal to 9 1/4% per annum. Each payment of principal or interest on the Notes will be made to each Purchaser by certified or bank cashier’s check or wire transfer of immediately available funds, at such address or to such account as such Purchaser specifies in writing to the Company at least five Business Days before such payment is to be made.
Interest on the Notes. Interest (computed on the basis of a 360-day year of twelve 30-day months) shall accrue on the unpaid principal balance of the Notes at 7.05% per annum from the date of each Note, and shall be payable to the holders thereof semi-annually, on January 2 and July 2 in each year, commencing with the later of July 2,1998 and the payment date next succeeding the date of such Note, until the principal thereof shall have become due and payable, and, to the extent permitted by law in respect of any Note, on any overdue payment of principal, any overdue payment of interest and any overdue payment of Make-Whole Amount with respect thereto, payable, on demand, at a rate per annum equal to the Default Rate.
Interest on the Notes. Subject to the provisions of Section 2.5, the Notes shall bear interest (computed on the basis of the actual number of days elapsed over a year of 360 days) at the Interest Rate, payable in accordance with the Notes.
Interest on the Notes. The unpaid principal amount of the Notes (including any PIK Interest) shall bear cash interest at a rate equal to LIBOR plus 7% per annum plus 3% per annum of PIK interest (defined below); provided that upon and during the continuance of an Event of Default under Section 7.1.1, the cash interest rate shall increase by an additional 2% per annum. Interest on the Notes shall be paid on the last Business Day of each calendar month (the “Interest Payment Date”), starting with the calendar month ending October 31, 2014. Such interest shall be paid in cash except that 3.00% per annum of the interest due on each Interest Payment Date shall be paid-in-kind, by increasing the principal amount of the Notes by the amount of such interest, effective as of the applicable Interest Payment Date (“PIK Interest”). PIK Interest shall be treated as principal of the Note for all purposes of interest accrual or calculation of any premium.
Interest on the Notes. Subject to applicable law, interest on each Note and Default Interest shall accrue and be payable as provided in such Note.
Interest on the Notes. Subject to Section 2.2, interest on the Notes shall accrue at a rate per annum equal to seven and one-half percent (7.50%) compounding quarterly. Interest shall be payable at maturity of the Notes, whether on July 1, 2009 (the "Maturity Date"), by acceleration or otherwise or upon redemption of the Notes pursuant to Section 2.8, unless the Notes are converted into shares of Common Stock pursuant to Section 2.5.
