Common use of Interest Rate and Payment Clause in Contracts

Interest Rate and Payment. The Applicant unconditionally promises and agrees to pay, as and when due, interest on all amounts advanced hereunder from the date of each Advance and to repay all amounts advanced hereunder with interest on the Maturity Date. Interest shall be due and payable quarterly on the first day of each January, April, July and October, commencing on the first such date after such initial Advance; except that if RTFC gives notice thereof to the Applicant before the first day of any month, interest shall thereafter be due and payable on the 15th day of such month and each month thereafter. RTFC shall invoice the Applicant at least five days prior to the due date of any such interest payment. All amounts shall be payable at RTFC's main office at Woodland Park, 2201 Xxxxxxxxxxx Xxx, Xxxxxxx, Xxxxxxxx 00000-0000 xx at such other location as designated by RTFC from time to time. The interest rate on all Advances will be equal to the Prevailing Bank Prime Rate (as defined herein), plus one and one-half percent per annum or such lesser total rate per annum as may be fixed by RTFC from time to time. Interest will be computed on the basis of a year of 365 days. The interest rate will be adjusted as determined from time to time by RTFC, provided that no such adjustment may be effective on a date other than

Interest Rate and Payment. The Applicant unconditionally promises and agrees to pay, as and when due, interest on all amounts advanced hereunder from the date of each Advance and to repay all amounts advanced hereunder with interest on the Maturity Date. Interest shall be due and payable quarterly on the first day of each January, April, July and October, commencing on the first such date after such initial Advance; except that if RTFC gives notice thereof to the Applicant before the first day of any month, interest shall thereafter be due and payable on the 15th day of such month and each month thereafter. RTFC shall invoice the Applicant at least five days prior to the due date of any such interest payment. All amounts shall be payable at RTFC's main office at Woodland Park, 2201 0000 Xxxxxxxxxxx Xxx, Xxxxxxx, Xxxxxxxx 00000-0000 xx 0000, or at such other location as designated by RTFC from time to time. The interest rate on all Advances will be equal to the Prevailing Bank Prime Rate (as defined herein), plus one and one-half percent per annum or such lesser total rate per annum as may be fixed by RTFC from time to time. Interest will be computed on the basis of a year of 365 days. The interest rate will be adjusted as determined from time to time by RTFC, provided that no such adjustment may be effective on a date other thanthan the first or sixteenth day of any month, and will remain in effect until a subsequent change in rate occurs.

Interest Rate and Payment. The Applicant Borrower unconditionally promises and agrees to pay, as and when due, interest on all amounts advanced hereunder from the date of each Advance and to repay all amounts advanced hereunder with interest on the Maturity Date. Interest shall be due and payable quarterly on the first day of each JanuaryMarch, AprilJune, July September, and OctoberDecember, commencing on the first such date after such initial Advance; except that if RTFC Lender gives notice thereof to the Applicant Borrower before the first day of any month, interest shall thereafter be due and payable on the 15th day of such month and each month thereafter. RTFC Lender shall invoice the Applicant Borrower at least five days prior to the due date of any such interest payment. All amounts shall be payable at RTFC's main office at Woodland Park, 2201 0000 Xxxxxxxxxxx Xxx, Xxxxxxx, Xxxxxxxx 00000-0000 xx or at such other location as designated by RTFC Lender from time to time. The interest rate on all Advances will be equal to the Prevailing Bank Prime Rate (as defined herein), plus one and one-half percent per annum or such lesser total rate per annum as may be fixed by RTFC Lender from time to time. Interest will be computed on the basis of a year of 365 days. The interest rate will be adjusted as determined from time to time by RTFCLender, provided that no such adjustment may be effective on a date other thanthan the first or sixteenth day of any month, and will remain in effect until a subsequent change in rate occurs.