Common use of Interest Rate and Payment Clause in Contracts

Interest Rate and Payment. The principal amount of the Loan shall bear interest from the date of the Note until the Maturity Date (unless otherwise accelerated as provided herein) at a rate per annum equal to the minimum interest rate necessary to avoid income imputation under the Internal Revenue Code as of the date of the Note. Interest shall be due and payable on the Maturity Date.

Interest Rate and Payment. The principal amount of the Loan shall bear interest from the date of the Note until the Maturity Date (unless otherwise accelerated as provided herein) at a rate per annum equal to the minimum interest rate necessary to avoid income imputation under the Internal Revenue Code as or earlier payment of the date principal amount at the rate of the NoteSix Percent (6.00%) per annum. Interest shall be due and payable on the Maturity DateDate or the date of earlier payment of the principal amount.