Common use of Interest Rate and Interest Payments Clause in Contracts

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.

Appears in 2 contracts

Samples: Convertible Loan Agreement (Integrated Security Systems Inc), Convertible Loan Agreement (Jakks Pacific Inc)

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Interest Rate and Interest Payments. (a) Interest on the outstanding Principal Amount outstanding from time to time shall accrue at the rate of 9.006.00% per annum, with the first installment of accrued, unpaid interest being due and payable on FEBRUARY February 1, 1997 2003, and subsequent payments at of accrued, unpaid interest being due and payable on the first day of each month thereafter. Overdue principal and interest on the Debentures Debenture shall bear interest, to interest at the extent maximum rate permitted by applicable law, at a rate of 9.00% per annum. Interest on the Principal Amount of each the Debenture shall be calculated, from time to time, on the basis of the actual days elapsed in a year consisting of 365 days.

Appears in 2 contracts

Samples: Convertible Loan Agreement (Caminosoft Corp), Convertible Loan Agreement (Caminosoft Corp)

Interest Rate and Interest Payments. (a) Interest on the Principal Amount outstanding from time to time shall accrue at the rate of 9.008.00% per annum, with the first installment of accrued, unpaid interest being due and payable on FEBRUARY AUGUST 1, 1997 2001 and subsequent payments at of accrued, unpaid interest being due and payable on the first day of each month thereafter. Overdue principal and interest on the Debentures shall bear interest, to interest at the extent maximum rate permitted by applicable law, at a rate of 9.00% per annum. Interest on the Principal Amount of each Debenture the Debentures shall be calculated, from time to time, on the basis of the actual days elapsed in a year consisting of 365 days.

Appears in 1 contract

Samples: Convertible Loan Agreement (Digital Recorders Inc)

Interest Rate and Interest Payments. (a) Interest on the Principal Amount outstanding from time to time shall accrue at the rate of 9.007.50% per annum, with the first installment of accrued, unpaid interest being due and payable on FEBRUARY August 1, 1997 2002 and subsequent payments at of accrued, unpaid interest being due and payable on the first day of each month thereafter. Overdue principal and interest on the Debentures shall bear interest, to interest at the extent maximum rate permitted by applicable law, at a rate of 9.00% per annum. Interest on the Principal Amount of each Debenture the Debentures shall be calculated, from time to time, on the basis of the actual days elapsed in a year consisting of 365 days.

Appears in 1 contract

Samples: Convertible Loan Agreement (Simtek Corp)

Interest Rate and Interest Payments. (a) Interest on the Principal Amount outstanding from time to time shall accrue at the rate of 9.008.00% per annum, with the first installment of accrued, unpaid interest being due and payable on FEBRUARY September 1, 1997 2001 and subsequent payments at of accrued, unpaid interest being due and payable on the first day of each month thereafter. Overdue principal and interest on the Debentures Debenture shall bear interest, to interest at the extent maximum rate permitted by applicable law, at a rate of 9.00% per annum. Interest on the Principal Amount of each the Debenture shall be calculated, from time to time, on the basis of the actual days elapsed in a year consisting of 365 days.

Appears in 1 contract

Samples: Convertible Loan Agreement (Obsidian Enterprises Inc)

Interest Rate and Interest Payments. (a) Interest on the Principal Amount outstanding from time to time shall accrue at the rate of 9.008.00% per annum, with the first installment of accrued, unpaid interest being due and payable on FEBRUARY 1JULY 31, 1997 and subsequent payments at of accrued, unpaid interest being due and payable on the first last day of each month thereafter. Overdue Subject to Section 12.07, overdue principal and interest on the Debentures shall bear interest, to interest at the extent permitted by applicable law, at a rate of 9.0015% 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.

Appears in 1 contract

Samples: Convertible Loan Agreement (Play by Play Toys & Novelties Inc)

Interest Rate and Interest Payments. (a) Interest on the Principal Amount outstanding from time to time shall accrue at the rate of 9.008.50% per annum, with the first installment of accrued, unpaid interest being due and payable on FEBRUARY February 1, 1997 1998 and subsequent payments at of accrued, unpaid interest being due and payable on the first day of each month thereafter. Overdue principal and interest on the Debentures shall bear interest, to interest at the extent maximum rate 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.

Appears in 1 contract

Samples: Convertible Loan Agreement (Newcare Health Corp)

Interest Rate and Interest Payments. (a) Interest on the Principal Amount outstanding from time to time shall accrue at the rate of 9.008.75% per annum, with the first installment of accrued, unpaid interest being due and payable on FEBRUARY APRIL 1, 1997 1998 and subsequent payments at of accrued, unpaid interest being due and payable on the first day of each month thereafter. Overdue principal and interest on the Debentures shall bear interest, to interest at the extent maximum rate 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.

Appears in 1 contract

Samples: Convertible Loan Agreement (La Man Corporation)

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Interest Rate and Interest Payments. (a) Interest on the Principal Amount outstanding from time to time shall accrue at the rate of 9.008.00% per annum, with the first installment of accrued, unpaid interest being due and payable on FEBRUARY August 1, 1997 2001 and subsequent payments at of accrued, unpaid interest being due and payable on the first day of each month thereafter. Overdue principal and interest on the Debentures shall bear interest, to interest at the extent permitted by applicable law, at a rate of 9.0018% per annum. Interest on the Principal Amount of each Debenture the Debentures shall be calculated, from time to time, on the basis of the actual days elapsed in a year consisting of 365 days.

Appears in 1 contract

Samples: Convertible Loan Agreement (Cover All Technologies Inc)

Interest Rate and Interest Payments. (a) Interest on the Principal Amount outstanding from time to time shall accrue at the rate of 9.0010.00% per annum, with the first installment payable on FEBRUARY 1, 1997 1998 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 9.0012.00% 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.

Appears in 1 contract

Samples: Convertible Loan Agreement (Canmax Inc /Wy/)

Interest Rate and Interest Payments. (a) Interest on the Principal Amount outstanding from time to time shall accrue at the rate of 9.007.00% per annum, with the first installment of accrued, unpaid interest being due and payable on FEBRUARY April 1, 1997 2004 and subsequent payments at of accrued, unpaid interest being due and payable on the first day of each month thereafter. Overdue principal and interest on the Debentures shall bear interest, to interest at the extent maximum rate permitted by applicable law, at a rate of 9.00% per annum. Interest on the Principal Amount of each Debenture the Debentures shall be calculated, from time to time, on the basis of the actual days elapsed in a year consisting of 365 days.

Appears in 1 contract

Samples: Convertible Loan Agreement (Freepcsquote Com)

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 of accrued, unpaid interest being due and payable on FEBRUARY 1, 1997 1998 and subsequent payments at of accrued, unpaid interest being due and payable on the first day of each month thereafter. Overdue principal and interest on the Debentures shall bear interest, to interest at the extent maximum rate 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.

Appears in 1 contract

Samples: Convertible Loan Agreement (Lifequest Medical Inc)

Interest Rate and Interest Payments. (a) Interest on the Principal Amount outstanding from time to time shall accrue at the rate of 9.008.00% per annum, with the first installment of accrued, unpaid interest being due and payable on FEBRUARY AUGUST 1, 1997 2001 and subsequent payments at of accrued, unpaid interest being due and payable on the first day of each month thereafter. Overdue principal and interest on the Debentures shall bear interest, to interest at the extent permitted by applicable law, at a rate of 9.0018% per annum. Interest on the Principal Amount of each Debenture the Debentures shall be calculated, from time to time, on the basis of the actual days elapsed in a year consisting of 365 days.

Appears in 1 contract

Samples: Convertible Loan Agreement (Cover All Technologies Inc)

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