Interest Rate; Payment. (a) The outstanding principal balance of this Senior Convertible Note shall bear interest at an annual rate equal to 8% per annum, with interest accruing, from and including the date hereof, on a cumulative, compounding basis. Interest shall be computed on the basis of a 365- or 366-day year, as the case may be, and the actual number of days elapsed, and shall be payable only upon repayment of the principal on any Repayment Date (as defined below).
(b) The outstanding balance of any amount owed under this Senior Convertible Note which is not paid when due shall bear interest at the rate of 2% per annum (the "Default Interest") above the rate that would otherwise be in effect under this Senior Convertible Note with the Default Interest accruing, from and including such due date, on a cumulative, compounding basis.
(c) The outstanding principal and all accrued and unpaid interest shall be paid in full no later than January 2, 2002 (the "Maturity Date"), unless repaid earlier pursuant to the provisions of Section 3 (the date of any payment pursuant to Section 3 and the Maturity Date, collectively referred to as a "Repayment Date"). On a Repayment Date, the Payor shall pay the applicable amount of principal and interest in lawful money of the United States of America by wire or bank transfer of immediately available funds to an account designated by the Payee in writing from time to time.
Interest Rate; Payment. (a) The outstanding principal balance of this Convertible Promissory Note (this "Note") shall bear interest at an annual rate equal to 8% per annum, with interest accruing, from and including the date hereof, on a cumulative, compounding basis. Interest shall be computed on the basis of a 365- or 366-day year, as the case may be, and the actual number of days elapsed, and, subject to Section 5, shall be payable only upon repayment of the principal on any Repayment Date (as defined below) in cash.
(b) The outstanding balance of any amount owed under this Note which is not paid when due shall bear interest at the rate of 2.0% per annum (the "Default Interest") above the rate that would otherwise be in effect under this Note with the Default Interest accruing, from and including such due date, on a cumulative, compounding basis.
(c) The outstanding principal and all accrued and unpaid interest shall be paid in full no later than July 23, 2011 (the "Maturity Date"), unless repaid earlier pursuant to the provisions of Section 2 (the date of any payment pursuant to Section 2 and the Maturity Date, collectively referred to as a "Repayment Date") or unless converted into Conversion Securities (as defined below) pursuant to Section 5 on or prior to the Maturity Date. On a Repayment Date, the Payor shall pay the applicable amount of principal and interest in lawful money of the United States of America by wire or bank transfer of immediately available funds to an account designated by the Payee in writing from time to time.
Interest Rate; Payment. Subject to Sections 2.3(b) and 2.3(d), the principal amount outstanding for each Term Advance shall accrue interest at a per annum rate equal to the Term SOFR-based Rate. To the extent permitted to be paid pursuant to the Subordination Agreement, accrued interest on the Term Advances, if any, shall be payable in arrears on each Payment Date in cash, and upon the payment or prepayment of the Term Advances (on the principal amount being so paid or prepaid); provided that interest payable at the Default Rate shall also be payable in cash from time to time on demand by the Lender. Notwithstanding the foregoing, 50% of the interest payable for each applicable period shall be payable in kind by capitalizing and adding such interest to the outstanding principal amount of the Term Advances on such Payment Date (“PIK Interest”); provided, that the Borrower may, at its option, irrevocably elect, by written notice to the Lender prior to any Payment Date, to decrease the rate of interest per annum capitalized as PIK Interest for such Payment Date by paying such amount in cash, or that no PIK Interest will be capitalized for such Payment Date, and, in each case, to the extent permitted to be paid pursuant to the Subordination Agreement, Borrower will pay such amount of interest that is owing and not capitalized as PIK Interest in cash as regular interest on such Payment Date. For purposes of this Agreement and the other Loan Documents, PIK Interest capitalized pursuant to this Section 2.3(a) shall constitute a portion of the principal amount outstanding of the Term Advances hereunder and shall bear interest in accordance with this Section 2.3 and all references herein or in any other Loan Document to the principal amount of the loans shall include all interest accrued and capitalized as a result of any payment of PIK Interest. Any PIK Interest shall automatically be capitalized on the applicable Payment Date in accordance with the foregoing. •
Interest Rate; Payment. Except as otherwise provided in §3.2.2, the Notes shall bear interest at the rate of 22.95% per annum, compounded quarterly (except that (i) with respect to any Note issued prior to November 30, 2011, interest accrued on any Note between the applicable Purchase Date and November 30, 2011 shall be added to the principal amount of such Note on November 30, 2011 and (ii) with respect to any Note issued after November 30, 2011, interest accrued on any Note between the applicable Purchase Date and February 29, 2012 shall be added to the principal amount of such Note on February 29, 2012); provided, if the OpCo Credit Agreement (as in effect on the date hereof) is amended, amended and restated, restructured, renewed, extended, replaced, supplemented, modified, waived or refinanced (“Refinanced”), and in connection therewith the weighted average cost of funds (taking into account LIBOR floors, original issue discount, upfront fees (other than arrangement or placement fees), ongoing commitment fees, index rates, interest rates and applicable margins) (the “Weighted Average Cost of Funds”) applicable to the OpCo Credit Agreement as so Refinanced (including any agreements governing Permitted Refinancing Indebtedness) is greater than the Weighted Average Cost of Funds in effect for loans under the OpCo Credit Agreement as of the date hereof, the Notes shall bear interest at the greater of (x) 22.95% or (y) the Weighted Average Cost of Funds applicable to the OpCo Credit Agreement as so Refinanced (including any agreements governing Permitted Refinancing Indebtedness) plus 1125 basis points. Interest shall be payable in arrears on the last day of each May, August, November and February and on the date of any payment of principal of the Notes, commencing November 30, 2011 (each an “Interest Payment Date”). Except for payments at Final Maturity or that are payable in connection with the redemption of the Notes (whether by acceleration or otherwise) which shall be paid in cash in immediately available Dollars, all such interest shall paid in kind and added to the outstanding principal balance of the Notes on the date such payment is due. Payments of cash interest shall be subordinated to the extent provided in §20 hereof.
Interest Rate; Payment. The rate at which the Notes due 2015 shall bear interest shall be 4.875% per annum; the rate at which the Debentures due 2035 shall bear interest shall be 5.375% per annum; the date from which interest shall accrue on the 2005 Securities shall be October 13, 2005; the Interest Payment Dates for the Notes due 2015 on which interest will be payable shall be April 15 and October 15 in each year, beginning April 15, 2006; the Regular Record Dates for the interest payable on the Notes due 2015 on any Interest Payment Date shall be the April 1 and October 1 preceding the applicable Interest Payment Date; the Interest Payment Dates for the Debentures due 2035 on which interest will be payable shall be April 15 and October 15 in each year, beginning April 15, 2006; the Regular Record Dates for the interest payable on the Debentures due 2035 on any Interest Payment Date shall be the April 1 and October 1 preceding the applicable Interest Payment Date; and the basis upon which interest on the 2005 Securities shall be calculated shall be that of a 360-day year consisting of twelve 30-day months.
Interest Rate; Payment. Libor plus a margin based on the ratio of total indebtedness to EBITDA (margin ranges from 3.5% to 4.25%). Comparable Base Rates (to be defined in definitive loan documents) interest options are available. Interest will be calculated on a 360-day basis. Interest will be payable on quarterly in arrears.
Interest Rate; Payment. (a) The outstanding principal balance of this Secured Subordinated Convertible Promissory Note (this “Note”) shall bear interest at an annual rate equal to 12% per annum, with interest accruing, from and including the date hereof, on a cumulative, compounding basis. Interest shall be computed on the basis of a 365- or 366-day year, as the case may be, and the actual number of days elapsed, and, subject to Section 5, shall be payable only upon repayment of the principal on any Repayment Date (as defined below) in cash.
(b) The outstanding principal and all accrued and unpaid interest shall be paid in full upon the earliest to occur of (i) August 13, 2013, (ii) a Change of Control (as defined below) and (iii) the date on which the Company consummates a debt or equity financing
Interest Rate; Payment. The Loan shall bear simple interest on the outstanding principal balance at [five percent (5%)] per year. School shall pay the principal sum and all accrued interest in a single payment on , 20 (the “Maturity Date”). School may, at any time, pay all or a portion of the outstanding principal of the Loan.
Interest Rate; Payment. The amounts due for interest shall be paid by the Beneficiary at each Interest Payment Date.
Interest Rate; Payment. The Notes shall bear interest (based on a 360-day year of twelve 30-day months) on the unpaid principal amount thereof until due at (x) the rate of [__]% per annum, payable quarterly in arrears on the 15th day of each March, June, September and December, provided that if such day is not a Business Day such day shall be the next Business Day, or (y) such lower rate as then may be the maximum rate permitted by applicable law.
