Common use of Interest Rate and Payment Clause in Contracts

Interest Rate and Payment. Subject to Sections 4.10 and 5.6 hereof, interest payable on this Note shall accrue at a rate of seven percent (7%) per annum (the "INTEREST RATE"). Subject to the provisions of Articles II and III hereof, interest shall be payable in cash, monthly in arrears commencing on January 2, 2004 ("Monthly Interest Amount"), on the first day of each consecutive calendar month thereafter and on the Maturity Date, whether by acceleration or otherwise.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Bam Entertainment Inc), Bam Entertainment Inc

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Interest Rate and Payment. Subject to Sections 4.10 Article IV and 5.6 Section 5.1 hereof, interest payable on this Note shall accrue at a rate of seven per annum equal to eight percent (78%) per annum (the "INTEREST RATE"“Contract Rate”). Subject to the provisions of Articles II and III hereof, interest Interest shall be payable in cash, monthly in arrears commencing on January 2March 1, 2004 ("Monthly Interest Amount")2005, 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: Numerex Corp /Pa/

Interest Rate and Payment. Subject to Sections 4.10 Article IV and 5.6 Section 5.1 hereof, interest payable on this Note shall accrue at a rate of seven per annum equal to eight percent (78%) per annum (the "INTEREST CONTRACT RATE"). Subject to the provisions of Articles II and III hereof, interest Interest shall be payable in cash, monthly in arrears commencing on January 2February 1, 2004 ("Monthly Interest Amount")2004, 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: Numerex Corp /Pa/

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Interest Rate and Payment. (a) Subject to Sections 4.10 4.9 and 5.6 hereof, interest payable on this Note shall accrue at a rate of seven percent (7%) per annum (the "INTEREST RATE"“Interest Rate”) equal to the six percent (6.00%) subject to adjustment as set forth in Section 1.1(b). Subject to the provisions of Articles II and III hereof, interest Interest shall be payable in cash, monthly in arrears commencing on January 2March 1, 2004 ("Monthly Interest Amount")2004, 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: Innovative Companies Inc

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