Common use of Interest Rate and Payment Clause in Contracts

Interest Rate and Payment. (a) Subject to Sections 4.9 and 5.6 hereof, interest payable on this Note shall accrue at a rate per annum (the "Interest Rate") equal to the "prime rate" published in The Wall Street Journal from time to time, plus one (1%). The prime rate shall be increased or decreased as the case may be for each increase or decrease in the prime rate in an amount equal to such increase or decrease in the prime rate; each change to be effective as of the day of the change in such rate. Subject to adjustment as set forth in Section 1.1(b), in no event shall the prime rate be less than percent (4.00%) subject to the provisions of Section 1.2 as regards Tranche B (as hereinafter defined), interest shall be payable monthly in arrears commencing on April 1, 2004, and on the first day of each consecutive calendar month thereafter (each, a "Repayment Date"), and on the Maturity Date.

Appears in 2 contracts

Samples: Dyntek Inc, Dyntek Inc

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Interest Rate and Payment. (a) Subject to Sections 4.9 and 5.6 hereof, interest payable on this Note shall accrue at a rate per annum (the "Interest Rate") equal to the "prime rate" published in The Wall Street Journal from time to time, plus one (1%). The prime rate shall be increased or decreased as the case may be for each increase or decrease in the prime rate in an amount equal to such increase or decrease in the prime rate; each change to be effective as of the day of the change in such rate. Subject to adjustment as set forth in Section 1.1(b), in no event shall the prime rate be less than percent (4.00%) subject to the provisions of Section 1.2 as regards Tranche B (as hereinafter defined), interest . Interest shall be payable monthly in arrears commencing on April 1, 2004, and on the first day of each consecutive calendar month thereafter (each, a "Repayment Date"), and on the Maturity Date.

Appears in 1 contract

Samples: Dyntek Inc

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Interest Rate and Payment. (a) Subject to Sections 4.9 and 5.6 hereof, interest payable on this Note shall accrue at a rate per annum (the "Interest Rate") equal to the "prime rate" published in The Wall Street Journal from time to time, plus one three (13%). The prime rate shall be increased or decreased as the case may be for each increase or decrease in the prime rate in an amount equal to such increase or decrease in the prime rate; each change to be effective as of the day of the change in such rate. Subject to adjustment as set forth in Section 1.1(b), in no event shall the prime rate Prime Rate used be less than four percent (4.00%) subject to the provisions of Section 1.2 as regards Tranche B (as hereinafter defined), interest . Interest shall be payable monthly in arrears commencing on April 1January 2, 2004, and on the first day of each consecutive calendar month thereafter (each, a "Repayment Date"), and on the Maturity Date, whether by acceleration or otherwise.

Appears in 1 contract

Samples: Vicom Inc

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