Common use of Interest Rates and Interest Payment Dates Clause in Contracts

Interest Rates and Interest Payment Dates. (a) From and after the Issuance Date, subject to Sections 2.4(b) and 2.10, as well before as after judgment, the outstanding principal amount of any loan made hereunder by the Obligee on the Issuance Date at all times shall bear interest at a rate per annum equal to twenty percent (20%). (b) Section 2.4(a) notwithstanding, but subject to Section 2.10, from and after the occurrence and during the con- tinuance of an Event of Default and in any event at all times after a Negative Shareholder Vote, all amounts due hereunder and not paid when due shall bear interest at a per annum rate, as well before as after judgment, equal to twenty-three percent (23%) (the "Default Rate"). (c) Interest on the outstanding principal amount of any loan made hereunder by the Obligee on the Issuance Date shall be payable in arrears on each Interest Payment Date, pro- vided that from and after the occurrence and during the con- tinuance of an Event of Default interest accruing pursuant to paragraph (b) of this Section 2.4 also shall be payable on de- mand.

Interest Rates and Interest Payment Dates. (a) From and after the Issuance Date, subject to Sections 2.4(b) and 2.10, as well before as after judgment, the outstanding principal amount of any loan made hereunder by the Obligee on the Issuance Date at all times shall bear interest at a rate per annum equal to twenty percent (20%). (b) Section 2.4(a) notwithstanding, but subject to Section 2.10, from and after the occurrence and during the con- tinuance continuance of an Event of Default and in any event at all times after a Negative Shareholder Vote, all amounts due hereunder and not paid when due shall bear interest at a per annum rate, as well before as after judgment, equal to twenty-three percent (23%) (the "Default RateDEFAULT RATE"). (c) Interest on the outstanding principal amount of any loan made hereunder by the Obligee on the Issuance Date shall be payable in arrears on each Interest Payment Date, pro- vided provided that from and after the occurrence and during the con- tinuance continuance of an Event of Default interest accruing pursuant to paragraph (b) of this Section 2.4 also shall be payable on de- manddemand.