Common use of Interest Rate; Payment; Usury Clause in Contracts

Interest Rate; Payment; Usury. (a) Provided that no Event of Default has occurred and is continuing and subject to the other provisions of this Agreement, the Loan Amount shall bear interest at a rate per annum equal to three percent (3%) plus the rate from time to time published in the Wall Street Journal as the prime rate, whether or not such announced rate is the best rate available at any bank or other financial institution (the "Interest Rate"). During any period that an Event of Default shall have occurred and be continuing, interest on the Loan Amount shall accrue at a rate equal to the Interest Rate plus two percent (2%) (the "Default Interest Rate"). Notwithstanding anything contained herein to the contrary, in no event shall the interest rate on the Loans, including the Default Interest Rate, exceed the highest rate permitted by applicable law. Interest on the Loans, including interest at the Default Interest Rate, shall be based on a 360-day year, and interest shall accrue and be payable for the actual number of calendar days elapsed. Interest shall be payable in arrears commencing on the 30th day of November, 2001 and continuing thereafter on the last day of each subsequent month until the Loan Amount and all accrued interest have been paid in full.

Appears in 1 contract

Samples: Ewp Bridge Loan Agreement (Keystone Consolidated Industries Inc)

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Interest Rate; Payment; Usury. (a) Provided that no Event of Default has occurred and is continuing and subject to the other provisions of this Agreement: (i) during the period from and including February 4, 2000 to, but not including, the Loan Amount date on which all outstanding principal and accrued and unpaid interest and fees on the Loans have been paid in full, principal amount of the Loans outstanding from time to time shall bear interest at a the rate per annum equal to three of ten percent (310%) plus the rate from time to time published in the Wall Street Journal as the prime rate, whether or not such announced rate is the best rate available at any bank or other financial institution (the "Interest Rate")per annum. During any period that an Event of Default shall have occurred and be continuing, interest on principal amount of the Loan Amount Loans outstanding from time to time shall accrue at a rate equal to the Interest Rate plus two fifteen percent per annum (215%) (the "Default Interest Rate"). Notwithstanding anything contained herein to the contrary, in no event shall the interest rate on the Loans, including the Default Interest Rate, exceed the highest rate permitted by applicable law. Interest on the Loans, including interest at the Default Interest Rate, shall be based on a 360-360 day year, year and interest shall accrue and be payable for the actual number of calendar days elapsed. Interest on the principal amount outstanding from time to time shall be payable monthly in arrears commencing beginning on the 30th day of NovemberApril 30, 2001 2000 and continuing thereafter on the last day of each subsequent month thereafter until the Loan Amount principal and all accrued interest and facility fees have been paid in full.

Appears in 1 contract

Samples: Loan Agreement (Alterra Healthcare Corp)

Interest Rate; Payment; Usury. (a) Provided that no Event of Default has occurred and is continuing and subject to the other provisions of this AgreementNote, the Loan Amount outstanding principal of this Note shall bear interest at a rate per annum equal to three percent (3%) plus the rate from time to time published in the Wall Street Journal as the prime rate, whether or not such announced rate is the best rate available at any bank or other financial institution (the "Interest Rate"). During any period that an Event of Default shall have occurred and be continuing, interest on the Loan Amount outstanding principal of this Note shall accrue at a rate equal to the Interest Rate plus two percent (2%) (the "Default Interest Rate"). Notwithstanding anything contained herein to the contrary, in no event shall the interest rate on the Loansthis Note, including the Default Interest Rate, exceed the highest rate permitted by applicable law. Interest on the Loansthis Note, including interest at the Default Interest Rate, shall be based on a 360-day year, and interest shall accrue and be payable for the actual number of calendar days elapsed. Interest shall be payable in arrears commencing on the 30th day of November, 2001 and continuing thereafter on the last day of each subsequent month until the Loan Amount principal and all accrued interest have been paid in full.

Appears in 1 contract

Samples: Ewp Bridge Loan Agreement (Keystone Consolidated Industries Inc)

Interest Rate; Payment; Usury. Section 3.1(a) of the Loan Agreement is hereby deleted in its entirety and the following paragraph substituted in lieu thereof: (a) Provided that no Event of Default has occurred and is continuing and subject to the other provisions of this Agreement, commencing March 1, 2002 the Loan Amount Loans shall bear interest at a the rate per annum equal to three of nine percent (39%) plus the rate from time to time published in the Wall Street Journal as the prime rate, whether or not such announced rate is the best rate available at any bank or other financial institution (the "Interest Rate")per annum. During any period that an Event of Default shall have occurred and be continuing, interest on the Loan Amount Loans shall accrue at a rate equal to the Interest Rate otherwise applicable interest rate plus two percent (2%) five hundred basis points (the "Default Interest Rate"). Notwithstanding anything contained herein to the contrary, in no event shall the interest rate on the Loans, including the Default Interest Rate, exceed the highest rate permitted by applicable law. Interest on the Loans, including interest at the Default Interest Rate, shall be based on a 360-360 day year, and interest shall accrue and be payable for the actual number of calendar days elapsed. Interest shall be payable in arrears commencing on the 30th day of NovemberMay 5, 2001 2002 and continuing thereafter on the last fifth day of each subsequent month until the Loan Amount principal and all accrued interest have been paid in full. Section 2.3.

Appears in 1 contract

Samples: Registration Rights Agreement (Alterra Healthcare Corp)

Interest Rate; Payment; Usury. (a) Provided that no Event of Default has occurred and is continuing and subject to the other provisions of this Agreement, the Loan Amount shall bear interest at a rate per annum equal to three percent (3%) plus the rate from time to time published in the Wall Street Journal as the prime rate, whether or not such announced rate is the best rate available at any bank or other financial institution (the "Interest Rate"). During any period that an Event of Default shall have occurred and be continuing, interest on the Loan Amount shall accrue at a rate equal to the Interest Rate plus two percent (2%) (the "Default Interest Rate"). Notwithstanding anything contained herein to the contrary, in no event shall the interest rate on the Loans, including the Default Interest Rate, exceed the highest rate permitted by applicable law. Interest on the Loans, including interest at the Default Interest Rate, shall be based on a 360-day year, and interest shall accrue and be payable for the actual number of calendar days elapsed. Interest shall be payable in arrears commencing on the 30th 31st day of NovemberMarch, 2001 2004 and continuing thereafter on the last day of each subsequent month until the Loan Amount and all accrued interest have been paid in full.

Appears in 1 contract

Samples: Possession Credit Agreement (Keystone Consolidated Industries Inc)

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Interest Rate; Payment; Usury. (a) Provided that no Event of Default has occurred and is continuing and subject to the other provisions of this AgreementNote, the Loan Amount outstanding principal of this Note shall bear interest at a rate per annum equal to three percent (3%) plus the rate from time to time published in the Wall Street Journal as the prime rate, whether or not such announced rate is the best rate available at any bank or other financial institution (the "Interest Rate"). During any period that an Event of Default shall have occurred and be continuing, interest on the Loan Amount outstanding principal of this Note shall accrue at a rate equal to the Interest Rate plus two percent (2%) (the "Default Interest Rate"). Notwithstanding anything contained herein to the contrary, in no event shall the interest rate on the Loansthis Note, including the Default Interest Rate, exceed the highest rate permitted by applicable law. Interest on the Loansthis Note, including interest at the Default Interest Rate, shall be based on a 360-day year, and interest shall accrue and be payable for the actual number of calendar days elapsed. Interest shall be payable in arrears commencing on the 30th 31st day of NovemberMarch, 2001 2004 and continuing thereafter on the last day of each subsequent month until the Loan Amount principal and all accrued interest have been paid in full.

Appears in 1 contract

Samples: Possession Credit Agreement (Keystone Consolidated Industries Inc)

Interest Rate; Payment; Usury. (a) Provided that no Event of Default has occurred and is continuing and subject to the other provisions of this AgreementNote, during the period commencing on the date of funding hereunder through, but not including, the Loan Amount date on which all outstanding principal and accrued and unpaid interest on this Note have been paid in full, the principal amount 37 outstanding from time to time under this Note shall bear interest at a the rate per annum equal to three of ten percent (310%) plus the rate from time to time published in the Wall Street Journal as the prime rate, whether or not such announced rate is the best rate available at any bank or other financial institution (the "Interest Rate")per annum. During any period that an Event of Default shall have occurred and be continuing, interest on the Loan Amount this Note shall accrue at a rate equal to the Interest Rate plus two fifteen percent per annum (215%) (the "Default Interest Rate"). Notwithstanding anything contained herein to the contrary, in no event shall the interest rate on the Loansthis Note, including the Default Interest Rate, exceed the highest rate permitted by applicable law. Interest on the Loans, including interest at the Default Interest Rate, this Note shall be based on a 360-360 day year, year and interest shall accrue and be payable for the actual number of calendar days elapsed. Interest shall be payable monthly in arrears commencing beginning on the 30th day of NovemberApril 30, 2001 2000 and continuing thereafter on the last day of each subsequent month thereafter until the Loan Amount principal and all accrued interest on this Note have been paid in full.

Appears in 1 contract

Samples: Loan Agreement (Alterra Healthcare Corp)

Interest Rate; Payment; Usury. (a) Provided that no Event of Default has occurred and is continuing and subject to the other provisions of this AgreementNote, interest shall accrue under this Note from the Loan Amount date of the last payment under the Original Note through the date of this Note and continuing through the date on which all outstanding principal and accrued and unpaid interest on this Note have been paid in full. The principal amount outstanding from time to time under this Note shall bear interest at a the rate per annum equal to three of ten percent (310%) plus the rate from time to time published in the Wall Street Journal as the prime rate, whether or not such announced rate is the best rate available at any bank or other financial institution (the "Interest Rate")per annum. During any period that an Event of Default shall have occurred and be continuing, interest on the Loan Amount this Note shall accrue at a rate equal to the Interest Rate plus two fifteen percent per annum (215%) (the "Default Interest Rate"). Notwithstanding anything contained herein to the contrary, in no event shall the interest rate on the Loansthis Note, including the Default Interest Rate, exceed the highest rate permitted by applicable law. Interest on the Loans, including interest at the Default Interest Rate, this Note shall be based on a 360-360 day year, year and interest shall accrue and be payable for the actual number of calendar days elapsed. Interest shall be payable monthly in arrears commencing beginning on the 30th day of NovemberApril 30, 2001 2000 and continuing thereafter on the last day of each subsequent month thereafter until the Loan Amount principal and all accrued interest on this Note have been paid in full.

Appears in 1 contract

Samples: Loan Agreement (Alterra Healthcare Corp)

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