Common use of Interest Rate and Interest Payments Clause in Contracts

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 computed on the basis of a year of 360 days and paid quarterly in arrears on each of September 28, 2018, December 31, 2018 and March 29, 2019.

Appears in 1 contract

Samples: Term Loan and Security Agreement (AeroGrow International, Inc.)

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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 computed on the basis of a year of 360 days and paid quarterly in arrears on each of September 2829, 2017, December 30, 2017 and March 30, 2018, December 31, 2018 and March 29, 2019.

Appears in 1 contract

Samples: Term Loan and Security Agreement (AeroGrow International, Inc.)

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 computed on the basis of a year of 360 days and paid quarterly in arrears on each of [September 2830, 20182020, December 30, 2020, March 31, 2018 2021 and March 29June 30, 20192021.

Appears in 1 contract

Samples: Term Loan and Security Agreement (AeroGrow International, Inc.)

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 computed on the basis of a year of 360 days and paid quarterly in arrears on the 15th day of each of September 28June, 2018September, December 31and March, 2018 and March 29beginning on September 15, 20192016.

Appears in 1 contract

Samples: Term Loan and Security Agreement (AeroGrow International, Inc.)

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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 computed on the basis of a year of 360 days and paid quarterly in arrears on each of September June 28, 20182019, September 27, 2019, December 31, 2018 2019 and March 2931, 20192020.

Appears in 1 contract

Samples: Term Loan and Security Agreement (AeroGrow International, Inc.)

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 computed on the basis of a year of 360 days and paid quarterly in arrears on each of September 28April 30, 2018, December July 31, 2018 October 31 and March 29, 2019January 31.

Appears in 1 contract

Samples: Term Loan and Security Agreement (AeroGrow International, Inc.)

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