Interest Rate and Payments. (a) The balance of principal outstanding from time to time under this Note shall bear interest at the rate of five and seventy-six hundredths percent (5.76%) per annum (the “Original Interest Rate”), computed on the basis of a three hundred sixty (360) day year composed of twelve (12) months of thirty (30) days each; however, interest for partial months shall be calculated by multiplying the principal balance of this Note by the applicable interest rate (i.e., the Original Interest Rate or the New Rate (hereinafter defined)), dividing the product by three hundred sixty (360), and multiplying that result by the actual number of days elapsed.
(b) Interest only on this Note shall be payable on the date the loan evidenced by this Note (the “Loan”) is funded by Holder, in advance, for the period from and including the date hereof through and including March 31, 2011.
(c) Commencing on May 1, 2011 and on the first day of each month thereafter through and including April 1, 2012, (each such date a “Interest Only Payment Date”) payments of interest only shall be payable, in arrears, in the amount of $12,667.20.
(d) Commencing on May 1, 2012 and on the first day of each month thereafter through and including the first day of the month immediately preceding the Maturity Date (each such date a “Principal and Interest Payment Date” and together with any Interest Only Payment Date, referred to herein, collectively, as a “Payment Date”), combined payments of principal and interest shall be payable, in arrears, in the amount of $16,618.07 each (such amount representing an amount that would be sufficient to fully amortize the original principal amount of this Note over a twenty-five (25) year period (the “Amortization Period”), if such amortization were based on a three hundred sixty (360) day year composed of twelve (12) months of thirty (30) days each).
(e) The entire outstanding principal balance, and all other amounts due under this Note and the other Loan Documents (as hereinafter defined), together with all accrued and unpaid interest thereon, shall be due and payable in full on April 1, 2018 (the “Maturity Date”).
Interest Rate and Payments. (a) The balance of principal outstanding from time to time under this Note shall bear interest at the rate of seven and sixty-three one- hundredths percent (7.63%) per annum (the "Original Interest Rate"), computed on the basis of a three hundred sixty (360) day year for the actual number of days elapsed.
(b) Interest only shall be payable on the date the loan evidenced by this Note (the "Loan") is funded by Xxxxxx, in advance, for the period from and including the date of funding through and including December 31, 2000.
(c) Commencing on February 1, 2001 and on the first day of each month thereafter through and including December 1, 2005 combined payments of principal and interest shall be payable, in arrears, in the amount of $32,397.30 each (such amount representing an amount that would be sufficient to fully amortize the original principal amount of this Note over a thirty (30) year period (the "Amortization Period"), if such amortization were based on a three hundred sixty (360) day year composed of twelve (12) months of thirty (30) days each).
(d) The entire outstanding principal balance, together with all accrued and unpaid interest and all other sums due hereunder, shall be due and payable in full on January 1, 2006 (the "Original Maturity Date").
Interest Rate and Payments. Subject to Sections 5.3 and 6.7 hereof, interest payable on this Note shall accrue at a rate per annum equal to the "prime rate" published in The Wall Street Journal from time to time, plus five (5%) (the "Contract Rate"). 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 in accordance with the terms of the Security Agreement. Subject to the immediately following sentence, the Contract Rate shall not be less than nine percent (9%). The Contract Rate shall be adjusted as follows: if (i) the Company shall have registered the shares of the Company's common stock underlying the conversion of this Note and that certain warrant issued to Holder of even date herewith on a registration statement declared effective by the Securities Exchange Commission, and (ii) the volume weighted average price of the Common Stock as reported by Bloomberg, L.P. on the principal market for any of the ten (10) trading days immediately preceding a Interest Payment Date (defined below) exceeds the then applicable Fixed Conversion Price by twenty five percent (25%), the Contract Rate for the succeeding calendar month shall automatically be reduced by twenty five basis points (25 b.p.) for such period. In no event shall the Contract Rate be less than 0.00%. Interest shall be payable monthly in arrears commencing on May 1, 2004 and on the first day of each consecutive calendar month thereafter, (each, an "Interest Payment Date").
Interest Rate and Payments. (a) Unless an Event of Default shall have occurred and be continuing, the Loan shall bear interest on the outstanding principal amount thereof until paid in full, at a rate per annum equal to Twelve Percent (12%) (the "Interest Rate").
(b) Upon and after an Event of Default, the Loan shall accrue interest on the outstanding principal balance of the Loan and, to the extent permitted by applicable law, on the unpaid interest, at a rate per annum equal to the Interest Rate plus an additional 5.0% per annum (the "Default Rate"), provided that in no event shall the Default Rate exceed the maximum rate of interest permitted by applicable law.
(c) Subject to the provisions of Section 2.2(b), interest shall be due during the term hereof on the first Business Day of each August, November, February and May, or such other date as the Borrower and the Lender may mutually agree in writing.
(d) Accrued interest not paid when due shall be compounded quarterly and added to the outstanding principal amount of the Loan.
(e) On the Maturity Date, the Borrower shall repay in full all accrued but unpaid interest and the entire unpaid principal amount of the Loan.
Interest Rate and Payments. (a) Unless an Event of Default shall have occurred and be continuing, the Loan shall bear interest on the outstanding principal amount thereof until paid in full, at a rate per annum equal to Twelve Percent (12%) (the "Interest Rate").
(b) Upon and after an Event of Default, the Loan shall accrue interest on the outstanding principal balance of the Loan and, to the extent permitted by applicable law, on the unpaid interest, at a rate per annum equal to the Interest Rate plus an additional 5.0% per annum (the "Default Rate"), provided that in no event shall the Default Rate exceed the maximum rate of interest permitted by applicable law.
(c) Interest shall be due during the term hereof on the first Business Day of each August, November, February and May, or such other date as the Borrower and the Lender may mutually agree in writing.
(d) Notwithstanding Section 2.3(c), if the sum of (i) the amount of interest to be paid by the Borrower to the Lender pursuant to this Agreement and (ii) the amount of principal and interest to be paid by the Borrower to the Lender pursuant to the Term Loan Credit and Security Agreement, exceeds the amount of EBITDA of the Borrower for the immediately preceding calendar quarter (ending the last day of September, December, March, or June), the Borrower shall not be obligated to repay the amount of interest otherwise due pursuant to the terms hereof in excess of the amount of EBITDA of the Borrower for the immediately preceding calendar quarter.
(e) Accrued interest not paid when due shall be compounded quarterly and added to the outstanding principal amount of the Loan.
(f) On the Maturity Date, the Borrower shall repay in full all accrued but unpaid interest and the entire unpaid principal amount of the Loan.
Interest Rate and Payments. Subject to Sections 4.1 and 5.7 hereof, interest payable on this Note shall accrue at a rate per annum equal to the Contract Rate, and shall be payable monthly in arrears commencing on June 1, 2004 and on the first day of each consecutive calendar month thereafter (each, an "INTEREST PAYMENT DATE").
Interest Rate and Payments. The principal amount of the Advances outstanding from time to time on the Revolving Loan shall bear interest (computed on the basis of actual days elapsed in a 360-day year) at the higher of: (a) a variable rate, reset daily, equal to the LIBOR Rate as determined by Lender plus (i) 1.25% per annum when the Cash Flow Leverage Ratio is less than or equal to 3.00 to 1.00 (as set forth in the compliance certificate delivered to Lender pursuant to Section 5.1 (b)) or (ii) 1.50% per annum when the Cash Flow Leverage Ratio is more than 3.00 to 1.00 (as set forth in the compliance certificate delivered to Lender pursuant to Section 5.1 (b)); and (b) a fixed rate of 5.00% per annum. Upon an Event of Default, the Revolving Loan shall bear interest at the LIBOR Rate as determined by Lender plus 7.50% per annum (the “Default Rate”); provided, however, that in any event no rate change shall be put into effect which would result in a rate greater than the highest rate permitted by law. Interest accruing on the principal balance of the Advances outstanding from time to time shall be payable in arrears on the first day of each month, on the Termination Date and upon payment in full. Borrower agrees that Lender may at any time or from time to time, without the request by Borrower, make an Advance to Borrower, or apply the proceeds of any Advance, for the purpose of paying all such interest when due.
Interest Rate and Payments. (a) The balance of principal outstanding from time to time under this Note shall bear interest at the rate of two and 80/100ths percent (2.80%) per annum (the “Interest Rate”), based on a three hundred sixty (360) day year composed of twelve (12) months of thirty (30) days each; provided, however, interest for the Stub Interest Period (defined below) and partial months shall be calculated by multiplying the principal balance of this Note by the interest rate, dividing the product by three hundred sixty (360), and multiplying that result by the actual number of days elapsed.
(b) Interest only shall be payable on the date the loan evidenced by this Note (the “Loan”) is funded by Xxxxxx, in advance, for the period from and including the date of funding through and including December 31, 2020 (the “Stub Interest Period”).
(c) Commencing on February 1, 2021, and on the first day of each month thereafter through and including January 1, 2026 payments of interest only on the outstanding principal balance of this Note shall be due and payable in arrears, in the amount of $12,765.03 each.
(d) Commencing on February 1, 2026, and on the first day of each month thereafter through and including the first day of the calendar month immediately preceding the Maturity Date, combined payments of principal and interest shall be payable, in arrears, in the amount of $22,478.91 each (such amount representing an amount sufficient to fully amortize the original principal amount of this Note over a three hundred sixty (360) month period (the “Amortization Period”).
(e) The entire outstanding principal balance of this Note, together with all accrued and unpaid interest and all other sums due hereunder, shall be due and payable in full on January 1, 2031 (the “Maturity Date”).
Interest Rate and Payments. The principal of the Loan advanced under the Agreement shall bear interest prior to the earlier of the Maturity Date, or Default, at a
(a) the Borrowers shall pay interest only as it accrues on the Note beginning on April 30, 2003 and continuing on each Payment Date thereafter until June 30, 2003; and (b) the Borrowers shall pay installments of principal and interest as it accrues in accordance with Section 2.2 beginning on July 31, 2003 and continuing until the Maturity Date.
Interest Rate and Payments. Company further promises to pay interest on the outstanding principal amount of this Note from the date hereof until payment in full at an interest rate equal to eight percent (8%) per annum, compounded quarterly, and such interest shall be payable in full on the date that the principal amount hereof is required to be paid hereunder. All computations of interest shall be made by Holder on the basis of a year of 360 days based upon the actual number of days elapsed. Notwithstanding the foregoing, all principal and interest payments in respect of this Note shall be subject to the Subordination Agreements and the provisions hereunder.
