Interest Rate and Interest Payments. (a) Interest on the Principal Amount outstanding from time to time shall accrue at the rate of 9.00% per annum, with the first installment payable on FEBRUARY 1, 1997 and subsequent payments at the first day of each month thereafter. Overdue principal and interest on the Debentures shall bear interest, to the extent permitted by applicable law, at a rate of 9.00% per annum. Interest on the Principal Amount of each Debenture shall be calculated, from time to time, on the basis of the actual days elapsed in a year consisting of 365 days.
Interest Rate and Interest Payments. (a) The unpaid principal balance of the Term Loan Advances outstanding from time to time shall bear interest at a simple rate of interest equal to 10.0% per annum (the “Interest Rate”). Interest on all Term Loan Advances outstanding under this Agreement shall be paid quarterly in arrears on the 15th day of each June, September, December and March, beginning on September 15, 2016.
(b) After the occurrence and during the continuation of an Event of Default, interest shall accrue on all amounts due hereunder at the lesser of (i) a rate of 10% per annum above the Interest Rate and (ii) the maximum rate permitted by applicable law. For calculation of interest, a 360-day year basis for the actual number of days elapsed shall be used.
Interest Rate and Interest Payments. Borrower shall pay interest on the unpaid principal amount of the Term Loan from the Closing Date until the Maturity Date, at a rate equal to ten percent (10.0) per annum (the "Interest Rate"). Subject to Section 2(e) and 2(g) below, interest on the outstanding principal amount of the Term Loan shall be due and payable to Lender in arrears on the last Business Day of each calendar month, commencing on the first of such dates following the Closing Date until the Maturity Date, at which time all accrued but unpaid interest shall be due and payable.
Interest Rate and Interest Payments. Borrower shall pay interest on the unpaid principal amount of the Term Loan from the Closing Date until the Maturity Date, at a rate equal to fifteen percent (15.0%) PER ANNUM (the "Interest Rate"). Subject to SECTION 2(e) AND 2(g) below, interest on the outstanding principal amount of the Term Loan shall be due and payable to Lender in advance (i) on the Closing Date and, (ii) thereafter, on the last Business Day of each calendar month, commencing on the first of such dates following the Closing Date until the Maturity Date, at which time all accrued but unpaid interest shall be due and payable.
Interest Rate and Interest Payments. (a) Interest on the Principal Amount outstanding from time to time shall accrue at the rate of 9.00% per annum, with the first installment payable on August 1, 1996 and subsequent payments at the first day of each month thereafter. Overdue principal and interest on the Debentures shall bear interest, to the extent permitted by applicable law, at a rate of 9.00% per annum. Interest on the Principal Amount of each Debenture shall be calculated, from time to time, on the basis of the actual days elapsed in a year consisting of 365 days.
Interest Rate and Interest Payments. Interest on the Principal Amount outstanding from time to time shall accrue at the rate of nine percent (9.00%) per annum, with the first installment of accrued, unpaid interest being due and payable on July 1, 1998 and subsequent payments of accrued, unpaid interest being due and payable on the first (1st) day of each month thereafter. Overdue principal and interest on the Debentures shall bear interest at the maximum rate permitted by applicable law. Interest on the Principal Amount of each Debenture shall be calculated, from time to time, on the basis of the actual days elapsed in a year consisting of three hundred sixty-five (365) days.
Interest Rate and Interest Payments. 3.1 The rate of interest for each Drawdown shall be a rate as may be mutually agreed to between the Lender and the Borrower. Such interest shall be paid at such frequency and, or, on such date as may be mutually agreed to between the Lender and the Borrower.
3.2 The interest payable to the Lender shall accrue from day to day and shall be calculated on this basis of the actual number of days lapsed and the year shall be of 365 (three hundred and sixty five) days.
3.3 In the event that the Repayment Date (as defined below) is extended, interest on the Facility Amount for such extended period(s) shall be payable at such rate as mutually agreed to between the Lender and the Borrower at the time of extension of the Repayment Date.
3.4 The Borrower acknowledges that the Facility provided under this Agreement is for a commercial transaction and waives any defences available under usury or other laws relating to the charging of interest.
Interest Rate and Interest Payments. (a) The unpaid principal balance of the Term Loan through and including the Interest Payment Trigger Date shall bear interest at a rate equal to 10% per annum (the “Interest Rate”). All accrued and unpaid interest on the Term Loan shall be due and payable within thirty (30) days after the Interest Payment Trigger Date (the “Interest Payment Date”), and shall be payable in shares of the Borrower’s common stock, par value $0.001 per share (“Common Stock”), valued at a price per share equal to the Series B Preferred Conversion Price on the Business Day immediately prior to the Interest Payment Trigger Date. No fractional shares of Common Stock shall be issued in connection with making an interest payment on the Interest Payment Date. In lieu of any fractional shares to which the Lender would otherwise be entitled, the Borrower shall pay such remainder of the interest payment in cash on the Interest Payment Date. In the event that the Borrower is restricted by contract or law from paying accrued and unpaid interest in shares of Common Stock on the Interest Payment Date, then such accrued and unpaid interest shall be payable in cash on the Interest Payment Date.
(b) After the occurrence and during the continuation of an Event of Default, interest shall accrue on all amounts due hereunder at a rate of 10% per annum above the Interest Rate, and shall be payable in Common Stock valued in accordance with Section 4(a) above.
Interest Rate and Interest Payments. Borrower shall pay interest on the unpaid principal amount of the Loan from the Closing Date until the Maturity Date, at a rate equal to eighteen percent (18%) per annum (the “Interest Rate”) calculated on the basis of a 365 day year. Subject to Section 2(e) and 2(g) below, interest on the outstanding principal amount of the Loan shall be due and payable to Agent, for the ratable benefit of Lenders, in advance on the last Business Day of each calendar month, commencing on the first of such dates following the date of the Amendment until the Maturity Date, at which time all accrued but unpaid interest shall be due and payable.”
Interest Rate and Interest Payments. Borrower shall pay interest on the unpaid principal amount of the Term Loans as follows: (i) with respect to the Term Loans that comprise the Initial Advance, from the Closing Date until the Maturity Date at a rate equal to twenty-four percent (24%) per annum, (ii) with respect to the Term Loans that comprise the Supplemental Advance, from the Funding Date until the Maturity Date at a rate equal to twenty-four percent (24%) per annum, and with respect to the Term Loans that comprise the Second Supplemental Advance, from the Second Funding Date until the Maturity Date at a rate equal to twenty-four percent (24%) per annum (the "Interest Rate"). Subject to Section 2(e) and 2(g) below, interest on the outstanding principal amount of the Term Loans shall be due and payable to Agent, for the ratable benefit of Hong Kong League, (x) with respect to the Term Loans that comprise the Initial Advance, in advance (i) on the Closing Date, and (ii) thereafter, on the last Business Day of each calendar month, commencing on the first of such dates following the Closing Date until the Maturity Date, at which time all accrued but unpaid interest shall be due and payable, and (y) with respect to the Term Loans that comprise the Supplemental Advance, in advance (i) on the Funding Date, and (ii) thereafter, on the last Business Day of each calendar month, commencing on the first of such dates following the Funding Date until the Maturity Date, at which time all accrued but unpaid interest shall be due and payable."
