Common use of Interest Rate and Payment of Interest Clause in Contracts

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 10 contracts

Samples: Equity Purchase Agreement (Zapp Electric Vehicles Group LTD), Securities Purchase Agreement (Kidpik Corp.), Equity Purchase Agreement (Zapp Electric Vehicles Group LTD)

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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 6 contracts

Samples: Prairie Operating Co., SaverOne 2014 Ltd., X3 Holdings Co., 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.), Prepaid Advance Agreement (Applied Digital Corp.), Applied Digital Corp.

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: Equity Purchase Agreement (Celularity Inc), Celularity Inc, Celularity 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% 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.), China Xiangtai Food Co., Ltd., 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 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: Next.e.GO N.V., Next.e.GO N.V., 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: Equity Purchase Agreement (Lionheart III Corp), SMX (Security Matters) Public LTD Co, SMX (Security Matters) Public LTD Co

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: micromobility.com Inc., micromobility.com Inc., micromobility.com 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: Letter Agreement (Citibank,N.A./ADR), 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 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)

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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 (Rubicon Technologies, Inc.), Convertible Debenture (Rubicon Technologies, 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 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: Pledge Agreement (AGBA Group Holding Ltd.), Rail Vision 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 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

Samples: CooTek(Cayman)Inc.

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

Samples: Sono Group N.V.

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)

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. (c)

Appears in 1 contract

Samples: CooTek(Cayman)Inc.

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: Equity Purchase Agreement (GigCapital5, Inc.)

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