Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Principal balance hereof at an annual rate equal to 0% (“Interest Rate”), which Interest Rate shall increase to an annual rate of 18% upon the occurrence of an Event of Default (for so long as such event remains uncured). Interest shall be calculated based on a 365-day year and the actual number of days elapsed, to the extent permitted by applicable law.
Interest Rate and Payment of Interest. 1. Subject to the negotiations between the Entrustor and the Borrower, the interest shall accrue on the Borrowing at the interest rate set forth with Item (1) below (the “Interest Rate”):
Interest Rate and Payment of Interest. 3.1 Basic regulations on determining the interest rate
Interest Rate and Payment of Interest. Each Loan shall bear interest on the outstanding principal amount thereof at a rate of interest designated from time to time by the Lender. Such rate shall be based upon the Lender’s cost of funds and in any event shall be no greater than the Average Prime Rate published from time to time in the Money Rate Section of The Wall Street Journal plus 5% per annum. Such interest shall be payable on the last day of the Interest Period applicable to such Loan.
Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Principal balance hereof at an annual rate equal to 5% (“Interest Rate”), payable at the Maturity Date. Interest shall be calculated on the basis of a 365-day year and the actual number of days elapsed, to the extent permitted by applicable law.
Interest Rate and Payment of Interest. As agreed between the Entrustor and the Borrower, interest shall be accrued on the Borrowing at the Interest Rate as follows:
Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Principal balance hereof at an annual rate equal to 6% (“Interest Rate”), which Interest Rate shall increase to an annual rate of 18% upon the occurrence of an Event of Default (for so long as such event remains uncured). In the event that such Event of Default is subsequently cured (and no other Event of Default then exists, including, without limitation, for the Company’s failure to pay such Interest at the default rate), the adjustment referred to in the preceding sentence shall cease to be effective as of the calendar day immediately following the date of such cure; provided that the interest as calculated and unpaid at such rate during the continuance of such Event of Default shall continue to apply to the extent relating to the days after the occurrence of such Event of Default through and including the date of such cure of such Event of Default. Interest shall be calculated based on a 365-day year and the actual number of days elapsed, to the extent permitted by applicable law.
Interest Rate and Payment of Interest. Each Loan shall bear interest on the outstanding principal amount thereof at a rate of interest designated from time to time by the Lender. Such rate shall be fair, reasonable and based upon the Lender’s actual cost of funds; provided, however, such rate shall in no event be greater than the Three Month London Interbank Offered Rate (LIBOR) at the time of the Loan plus .75% per annum. Such interest shall be payable on the last day of the Interest Period applicable to such Loan.
Interest Rate and Payment of Interest. The interest rate payable on all amounts owed by the Borrower to the Lender under this Agreement shall be the rate specified in the Schedule.
Interest Rate and Payment of Interest. Interest shall accrue on the unpaid principal balance of the Loan during each calendar month (whether full or partial) at the Prime Rate. Interest shall be computed on the basis of a year consisting of 360 days and shall be based on the actual number of days during the period for which interest is being charged. Accrued and unpaid interest on the Loan shall be due and payable to Lender on the first day of each month commencing on the first day of the month following the month in which the Initial Disbursement Date occurs. Borrower hereby authorizes Lender during the term of the Loan to disburse to itself from the undisbursed proceeds of the Loan all then accrued and unpaid interest on the Loan which is then due and payable; provided, however, that such authorization shall not be deemed to limit, reduce or otherwise affect Borrower's obligation to pay interest if (a) there are no remaining amounts in the Budget for the Loan allocated for the payment of such interest (including Reserves specifically allocated to pay such interest), or (b) Lender is entitled to withhold disbursement of the Loan for any reason. Any amounts disbursed from the interest reserve shall become part of the outstanding principal balance of the Loan and interest thereon shall accrue and be payable as provided herein.
