Common use of Interest Rate Payments Clause in Contracts

Interest Rate Payments. Subject to Holder's right to charge the Default Rate (as hereinafter defined) pursuant to Section 4 hereof, this Note shall bear interest, and Maker shall make payments as follows: (a) Interest shall accrue on the unpaid principal balance of this Note at the Interest Rate (as defined in Exhibit A). For purposes of computing interest on the debt evidenced hereby, interest shall be calculated on the basis of a twelve (12) month calendar year applied to the actual number of months funds are outstanding. Payments (or prepayments) made on account hereof shall be applied first to the payment of late charges or other fees and costs owed to Holder (if any), next to the payment of accrued and unpaid interest, and then to principal, or, during the continuance of an Event of Default (as hereinafter defined), in such other order or proportion as Holder, in its sole discretion, may elect from time to time. (b) Interest and principal over the term of the Note shall be due and payable monthly in accordance with the Payment Schedule set forth in Exhibit F. Maker may at any time or from time to time make a voluntary prepayment, whether in whole or in part, of this Note, without premium or penalty. (c) The entire outstanding Obligations (as hereinafter defined) shall be due and payable in full on the Maturity Date (as defined in Exhibit A) or such earlier date resulting from acceleration by Holder of the Obligations due hereunder following an Event of Default (the “Maturity Date”).

Interest Rate Payments. Subject to HolderXxxxxx's right to charge the Default Rate (as hereinafter defined) pursuant to Section 4 hereof, this Note shall bear interest, and Maker shall make payments as follows: (a) Interest shall accrue on the unpaid principal balance of this Note at the Interest Rate (as defined in Exhibit A). For purposes of computing interest on the debt evidenced hereby, interest shall be calculated on the basis of a twelve (12) month calendar year applied to the actual number of months funds are outstanding. Payments (or prepayments) made on account hereof shall be applied first to the payment of late charges or other fees and costs owed to Holder (if any), next to the payment of accrued and unpaid interest, and then to principal, or, during the continuance of an Event of Default (as hereinafter defined), in such other order or proportion as Holder, in its sole discretion, may elect from time to time. (b) Interest and principal over the term of the Note shall be due and payable monthly in accordance with the Payment Schedule set forth in Exhibit F. Maker may at any time or from time to time make a voluntary prepayment, whether in whole or in part, of this Note, without premium or penalty. (c) The entire outstanding Obligations (as hereinafter defined) shall be due and payable in full on the Maturity Date (as defined in Exhibit A) or such earlier date resulting from acceleration by Holder of the Obligations due hereunder following an Event of Default (the “Maturity Date”).

Interest Rate Payments. Subject to Holder's right to charge the Default Rate (as hereinafter defined) pursuant to Section 4 hereof, this Note shall bear interest, and Maker shall make payments as follows: (a) Interest shall accrue on the unpaid principal balance of this Note at the Interest Rate (as defined in Exhibit A). For purposes of computing interest on the debt evidenced hereby, interest shall be calculated on the basis of a twelve (12) month calendar year applied to the actual number of months funds are outstanding. Payments (or prepayments) made on account hereof shall be applied first to the payment of late charges or other fees and costs owed to Holder (if any), next to the payment of accrued and unpaid interest, and then to principal, or, during the continuance of an Event of Default (as hereinafter defined), in such other order or proportion as Holder, in its sole discretion, may elect from time to time. (ba) Interest and principal over the term of the Note shall be due and payable monthly in accordance with the Payment Schedule set forth in Exhibit F. E. Maker may at any time or from time to time make a voluntary prepayment, whether in whole or in part, of this Note, without premium or penalty. (cb) The entire outstanding Obligations (as hereinafter defined) shall be due and payable in full on the Maturity Date (as defined in Exhibit A) or such earlier date resulting from acceleration by Holder of the Obligations due hereunder following an Event of Default (the “Maturity Date”).

Interest Rate Payments. Subject to Holder's right to charge a. Commencing on the date of this Note, and so long as no Event of Default Rate (as hereinafter defineddefined herein) pursuant to Section 4 hereofexists, this Note shall bear interest, and Maker shall make payments as follows: (a) Interest shall accrue on the unpaid principal balance of this Note shall accrue interest ("Interest) at the nominal rate of fifteen percent (15%) per annum. b. During any Event of Default under this Note, the unpaid balance of this Note shall accrue Interest Rate at the rate of twenty-five percent (as defined in Exhibit A25%) per annum ("Default Rate"). For purposes Interest shall accrue at the Default Rate from the date of computing an Event of Default, without notice to Maker. c. The interest on the debt evidenced hereby, interest provided herein shall be calculated on the basis of a twelve 360-day year/30 day month. d. The minimum amount of interest to be paid under the terms of this Note is Twenty-one Thousand Seven Hundred Fifty Dollar and Zero cents (12) month calendar year applied $21,750), regardless of the timing of the payments. To the extent that the payments are made under this Note prior to the maturity date of this Note, then to that extent, the actual number of months funds are outstanding. Payments (or prepayments) made on account hereof interest rate may actually exceed the rate stated above, and such amount shall be applied treated as additional or minimum interest. Makers have agreed to pay a minimum of $21,750 in interest regardless of when payments on this Note are made. e. All payments under this Note shall first be credited against costs and expenses provided for in this Note, second to the payment of any late charges or other fees and costs owed to Holder (if any)charges, next third to the payment of accrued and unpaid interestInterest, if any, and then the remainder shall be credited against principal. All payments due hereunder shall be payable in legal tender of the United States of America, and in same day funds delivered to principalHolder by cashier's check, orcertified check, during bank wire transfer or any other means of guaranteed funds to the continuance of an Event of Default (as hereinafter defined)mailing address provided below, in or at such other order or proportion place as Holder, Holder shall designate in its sole discretion, may elect writing for such purpose from time to time. (b) Interest and principal over the term of the . If a payment under this Note shall be otherwise would become due and payable monthly in accordance with on a Saturday, Sunday or legal holiday (any other day being a "Business Day"), the Payment Schedule set forth in Exhibit F. Maker may at any time or from time to time make a voluntary prepayment, whether in whole or in part, due date of this Note, without premium or penalty. (c) The entire outstanding Obligations (as hereinafter defined) the payment shall be due extended to the next succeeding Business Day, and Interest, if any, shall be payable in full on the Maturity Date (as defined in Exhibit A) or thereon during such earlier date resulting from acceleration by Holder of the Obligations due hereunder following an Event of Default (the “Maturity Date”)extension.

Interest Rate Payments. Subject to HolderXxxxxx's right to charge the Default Rate (as hereinafter defined) pursuant to Section 4 hereof, this Note shall bear interest, and Maker shall make payments as follows: (a) Interest shall accrue on the unpaid principal balance of this Note at the Interest Rate (as defined in Exhibit A). For purposes of computing interest on the debt evidenced hereby, interest shall be calculated on the basis of a twelve (12) month calendar year applied to the actual number of months funds are outstanding. Payments (or prepayments) made on account hereof shall be applied first to the payment of late charges or other fees and costs owed to Holder (if any), next to the payment of accrued and unpaid interest, and then to principal, or, during the continuance of an Event of Default (as hereinafter defined), in such other order or proportion as Holder, in its sole discretion, may elect from time to time. (ba) Interest and principal over the term of the Note shall be due and payable monthly in accordance with the Payment Schedule set forth in Exhibit F. E. Maker may at any time or from time to time make a voluntary prepayment, whether in whole or in part, of this Note, without premium or penalty. (cb) The entire outstanding Obligations (as hereinafter defined) shall be due and payable in full on the Maturity Date (as defined in Exhibit A) or such earlier date resulting from acceleration by Holder of the Obligations due hereunder following an Event of Default (the “Maturity Date”).