Interest Rates and Interest Payments. The Company covenants and agrees to make payments to the Purchasers of accrued interest on the Notes on December 31, 2005. The Notes will bear interest on the outstanding principal amount thereof at a fixed rate equal to 6% per annum. Interest on the Notes will be computed on the basis of a year of 360 days, composed of 12, 30-day months, and the actual number of days elapsed.
Appears in 4 contracts
Samples: Subordinated Convertible Note Purchase Agreement (A4s Technologies Inc), Subordinated Convertible Note and Warrant Purchase Agreement (A4s Technologies Inc), Subordinated Convertible Note and Warrant Purchase Agreement (A4s Technologies Inc)
