Interest Rate Calculation. Basic Interest, along with charges and fees under this Agreement and any Loan Document, shall be calculated for actual days elapsed on the basis of a 360-day year, which results in higher interest, charge or fee payments than if a 365-day year were used. In no event shall Borrower be obligated to pay Lenders interest, charges or fees at a rate in excess of the highest rate permitted by applicable law from time to time in effect.
Appears in 5 contracts
Samples: Loan and Security Agreement (Abeona Therapeutics Inc.), Loan and Security Agreement (LifeMD, Inc.), Loan and Security Agreement (Health Sciences Acquisitions Corp 2)
Interest Rate Calculation. Basic Interest, along with charges and fees under this Agreement and any Loan Document, shall be calculated for actual days elapsed on the basis of a 360-day year, which results in higher interest, charge or fee payments than if a 365-day year were used. In no event shall Borrower be obligated to pay Lenders any Lender interest, charges or fees at a rate in excess of the highest rate permitted by applicable law from time to time in effect.
Appears in 4 contracts
Samples: Loan and Security Agreement (Beyond Air, Inc.), Loan and Security Agreement (Athersys, Inc / New), Loan and Security Agreement (BTHC VI Inc)
Interest Rate Calculation. Basic Interest, along with charges and fees under this Agreement and any Loan Document, shall be calculated for actual days elapsed on the basis of a 360-day year, which results in higher interest, charge or fee payments than if a 365-day year were used. In no event shall Borrower be obligated to pay Lenders Lender interest, charges or fees at a rate in excess of the highest rate permitted by applicable law from time to time in effect.
Appears in 2 contracts
Samples: Bridge Loan and Security Agreement (Tauriga Sciences, Inc.), Bridge Loan and Security Agreement (Tauriga Sciences, Inc.)
Interest Rate Calculation. Basic Interest, along with charges and fees under this Agreement and any Loan Document, shall be calculated for actual days elapsed on the basis of a 360-day year, which results in higher interest, charge or fee payments than if a 365-day year were used. In no event shall Borrower be obligated to pay Lenders interestLender interest , charges or fees at a rate in excess of the highest rate permitted by applicable law from time to time in effect.
Appears in 2 contracts
Samples: Loan Agreement (Wink Communications Inc), Loan Agreement (Wink Communications Inc)
Interest Rate Calculation. Basic Interest, along with charges and fees under this Agreement and any Loan Document, shall be calculated for actual days elapsed on the basis of a 360-day year, which results in higher interest, charge or fee payments than if a 365-day year were used. In no event shall Borrower Borrowers be obligated to pay Lenders Lender interest, charges or fees at a rate in excess of the highest rate permitted by applicable law from time to time in effect.
Appears in 2 contracts
Samples: Loan and Security Agreement (Virtuix Holdings Inc.), Loan and Security Agreement (Bacterin International Holdings, Inc.)
Interest Rate Calculation. Basic Interest, along with charges and fees under this Agreement and any Loan Document, shall be calculated for actual days elapsed on the basis of a 360-day 360day year, which results in higher interest, charge or fee payments than if a 365-day year were used. In no event shall Borrower be obligated to pay Lenders any Lender interest, charges or fees at a rate in excess of the highest rate permitted by applicable law from time to time in effect.
Appears in 1 contract
Interest Rate Calculation. Basic Interest, along with charges and fees under this Agreement and any Loan Document, shall be calculated for actual days elapsed on the basis of a 360-day year, which results in higher interest, charge or fee payments than if a 365-day year were used. In no event shall Borrower be obligated to any pay Lenders Lender interest, charges or fees at a rate in excess of the highest rate permitted by applicable law from time to time in effect.
Appears in 1 contract
Interest Rate Calculation. Basic Interest, along with charges and fees under this Agreement and any Loan Document, shall be calculated for actual days elapsed on the basis of a 360-day year, which results in higher interest, charge or fee payments than if a 365-day year were used. In no event shall a Borrower be obligated to pay Lenders Lender interest, charges or fees at a rate in excess of the highest rate permitted by applicable law from time to time in effect.
Appears in 1 contract
Samples: Loan and Security Agreement (Oculus Innovative Sciences, Inc.)
Interest Rate Calculation. Basic Interest, along with charges and fees under this Agreement and any Loan Document, shall be calculated for actual days elapsed on the basis of a 360-day 360‑day year, which results in higher interest, charge or fee payments than if a 365-day 365‑day year were used. In no event shall Borrower be obligated to pay Lenders Lender interest, charges or fees at a rate in excess of the highest rate permitted by applicable law from time to time in effect.
Appears in 1 contract
Interest Rate Calculation. Basic Interest, along with charges and fees under this Agreement and any Loan Document, shall be calculated for actual days elapsed on the basis of a 360-day 360‑day year, which results in higher interest, charge or fee payments than if a 365-day 365‑day year were used. In no event shall Borrower be obligated to pay Lenders interest, charges or fees at a rate in excess of the highest rate permitted by applicable law from time to time in effect.
Appears in 1 contract
Samples: Loan and Security Agreement (Rani Therapeutics Holdings, Inc.)
