Common use of Interest Rate and Interest Payments Clause in Contracts

Interest Rate and Interest Payments. 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, 1998 and subsequent payments 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 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 365 days.

Appears in 1 contract

Samples: Loan Agreement (Lifequest Medical Inc)

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Interest Rate and Interest Payments. 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 1November 15, 1998 2003 and subsequent payments 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 at the lesser of 18% or the maximum rate permitted by applicable law. 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 (Gasco Energy Inc)

Interest Rate and Interest Payments. 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, 1998 2001 and subsequent payments 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 at the maximum rate permitted by applicable lawof 18% 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: Agreement (Cover All Technologies Inc)

Interest Rate and Interest Payments. 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, 1998 2001 and subsequent payments 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 at the maximum rate permitted by applicable lawof 18% 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. 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, 1998 2002 and subsequent payments 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 at the maximum rate permitted by applicable law. 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. 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 1, 1998 in accordance with the terms of the Debentures and subsequent payments 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 at the maximum rate permitted by applicable law. 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.. Section 2.04

Appears in 1 contract

Samples: Loan Agreement (Digital Recorders Inc)

Interest Rate and Interest Payments. 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, 1998 2001 and subsequent payments 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 at the maximum rate permitted by applicable law. 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. 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, 1998 and subsequent payments 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 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 365 days.

Appears in 1 contract

Samples: Agreement (La Man Corporation)

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Interest Rate and Interest Payments. 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, 1998 and subsequent payments 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 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 365 days.

Appears in 1 contract

Samples: Convertible Loan Agreement (Newcare Health Corp)

Interest Rate and Interest Payments. 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, 1998 2001 and subsequent payments 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 at the maximum rate permitted by applicable law. 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: Agreement (Digital Recorders Inc)

Interest Rate and Interest Payments. 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, 1998 2004 and subsequent payments 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 at the maximum rate permitted by applicable law. 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. 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, 1998 1997 and subsequent payments 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 at the maximum rate permitted by applicable lawof 15% 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)

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