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 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. Interest shall accrue on the outstanding Principal balance hereof at an annual rate equal to 50.01% (“Interest Rate”), payable at the Maturity Date. 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.

Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Principal balance hereof at an annual rate equal to 50% (“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.