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.
Appears in 11 contracts
Samples: Convertible Note (Atlantic Coastal Acquisition Corp. II), Convertible Note (Inception Growth Acquisition LTD), Standby Equity Purchase Agreement (Zapp Electric Vehicles Group LTD)
Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Principal balance hereof at an annual rate equal to 08% (“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.
Appears in 7 contracts
Samples: Convertible Promissory Note (Coeptis Therapeutics Holdings, Inc.), Convertible Note (Prairie Operating Co.), Convertible Note (SaverOne 2014 Ltd.)
Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Principal balance hereof at an annual rate equal to zero percent (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 uncureduncured or is not waived). Interest shall be calculated based on a 365-day year and the actual number of days elapsed, to the extent permitted by applicable law.
Appears in 5 contracts
Samples: Prepaid Advance Agreement (Applied Digital Corp.), Convertible Note (Applied Digital Corp.), Convertible Note (Applied Digital Corp.)
Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Principal balance hereof at an annual rate equal to 05% (“Interest Rate”), which Interest Rate shall increase to an annual rate of 1815% upon the occurrence of an Event of Default (for so long as such event any Event of Default remains uncured). Interest shall be calculated based on the basis of a 365-day year and the actual number of days elapsed, to the extent permitted by applicable law.
Appears in 4 contracts
Samples: Securities Purchase Agreement (Molecular Data Inc.), Convertible Debenture (China Xiangtai Food Co., Ltd.), Convertible Debenture (China Xiangtai Food Co., Ltd.)
Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Principal balance hereof at an annual rate equal to 08% (“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 uncureduncured or waived). Interest shall be calculated based on a 365-day year and the actual number of days elapsed, to the extent permitted by applicable law.
Appears in 4 contracts
Samples: Convertible Note (Celularity Inc), Standby Equity Purchase Agreement (Celularity Inc), Consent to Yorkville Arrangements (Celularity Inc)
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 Event of Default is continuing and 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. ____________ 1 Insert date 12 months from the closing date of the First Pre-Paid Advance.
Appears in 3 contracts
Samples: Convertible Note (Next.e.GO N.V.), Convertible Note (Next.e.GO N.V.), Convertible Note (Next.e.GO N.V.)
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 1815% upon the occurrence of an Event of Default (for so long as such event it 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.
Appears in 3 contracts
Samples: Convertible Promissory Note (SMX (Security Matters) Public LTD Co), Convertible Promissory Note (SMX (Security Matters) Public LTD Co), Reciprocal Standby Equity Purchase Agreement (Lionheart III Corp)
Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Principal balance hereof at an annual rate equal to 03% (“Interest Rate”), which Interest Rate shall increase to an annual rate of 1815% upon the occurrence of an Event of Default (for so long as such event it 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.
Appears in 3 contracts
Samples: Securities Purchase Agreement (Canoo Inc.), Securities Purchase Agreement (Canoo Inc.), Securities Purchase Agreement (Canoo Inc.)
Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Principal principal balance hereof at an annual the rate equal to of 0% per year (the “Interest Rate”), which Interest Rate shall increase to an annual rate of 18% upon . Upon the occurrence of an Event of Default (for so long as such event remains uncured)Default, interest shall accrue at a rate of 15% per year until collected in full. Interest shall be calculated based on the basis of a 365-day year and the actual number of days elapsed, to the extent permitted by applicable law.
Appears in 3 contracts
Samples: Convertible Promissory Note (micromobility.com Inc.), Convertible Promissory Note (micromobility.com Inc.), Convertible Promissory Note (micromobility.com Inc.)
Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Principal balance hereof at an annual rate equal to 05% (“Interest Rate”), which Interest Rate shall increase to an annual rate of 1815.0% upon the occurrence and during the continuance of an any Event of Default (for so long as such event remains uncured)Default. Interest shall be calculated based on the basis of a 365-day year and the actual number of days elapsed, to the extent permitted by applicable law.
Appears in 2 contracts
Samples: Securities Purchase Agreement (Niocorp Developments LTD), Securities Purchase Agreement (Niocorp Developments LTD)
Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Principal balance hereof at an annual rate equal to 05% (“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.
Appears in 2 contracts
Samples: Convertible Note (Rail Vision Ltd.), Standby Equity Purchase Agreement (AGBA Group Holding Ltd.)
Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Principal balance hereof at an annual rate equal to 04% (“Interest Rate”), which Interest Rate shall increase to an annual rate of 1815% (i) upon the occurrence and during the continuance of an any Event of Default or (ii) for so long as such event any Registration Event remains uncured)in effect. Interest shall be calculated based on the basis of a 365-day year and the actual number of days elapsed, to the extent permitted by applicable law.
Appears in 2 contracts
Samples: Convertible Debenture Amendment (Rubicon Technologies, Inc.), Convertible Debenture Amendment (Rubicon Technologies, Inc.)
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 1815% upon for any such day that the occurrence of an Event of Default (for so long as such event remains uncured)Closing Bid Price is below the Floor Price. Interest shall be calculated based on the basis of a 365-day year and the actual number of days elapsed, to the extent permitted by applicable law.
Appears in 2 contracts
Samples: Deposit Agreement (Citibank,N.A./ADR), Convertible Debenture (AnPac Bio-Medical Science Co., Ltd.)
Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Principal balance hereof at an annual rate equal to 012% (“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 it 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.
Appears in 1 contract
Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Principal balance hereof at an annual rate equal to 05 % (“Interest Rate”), which Interest Rate shall increase to an annual rate of 1815% upon for the occurrence remainder of an Event of Default (the term for so long as such event any Event of Default remains uncured). Interest shall be calculated based on the basis of a 365-day year and the actual number of days elapsed, to the extent permitted by applicable law. For the avoidance of doubt, no Interest shall accrue on the Principal balance that is not outstanding at the Maturity Date.
Appears in 1 contract
Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Principal balance hereof at an annual rate equal to 06% (“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 it 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.
Appears in 1 contract
Samples: Standby Equity Purchase Agreement (GigCapital5, Inc.)
Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Principal balance hereof at an annual rate equal to 00.0% (“Interest Rate”), which Interest Rate shall increase to an annual rate of 1818.0% upon the occurrence of an any Event of Default (for so long as such event remains uncureduncured or is not waived). Interest shall be calculated based on the basis of a 365-day year and the actual number of days elapsed, to the extent permitted by applicable law.
Appears in 1 contract
Samples: Securities Purchase Agreement (Niocorp Developments LTD)
