Common use of Loan Interest Rate Clause in Contracts

Loan Interest Rate. Borrower shall pay interest on the unpaid principal amount of each Loan from the Funding Date of such Loan until such Loan has been paid in full, at a per annum rate of 8%. All computations of interest on each Loan shall be based on a year of 360 days for actual days elapsed provided, however, that per diem interest shall be calculated on the basis of the actual number of days elapsed over a year of 365 days. Notwithstanding any other provision hereof, the amount of interest payable hereunder shall not in any event exceed the maximum amount permitted by applicable law.

Loan Interest Rate. Borrower shall pay interest on the unpaid principal amount of each Loan from the Funding Date of such Loan until such Loan has been paid in full, at a per annum rate of 8%interest equal to the Basic Rate. All computations of interest on each Loan shall be based on a year of 360 days for actual days elapsed provided, however, that per diem interest shall be calculated on the basis of the actual number of days elapsed over a year of 365 dayselapsed. Notwithstanding any other provision hereof, the amount of interest payable hereunder shall not in any event exceed the maximum amount permitted by the law applicable lawto interest charged on commercial loans. (ii) Section 2.3 (c) shall be deleted in its entirety and replaced with the following:

Loan Interest Rate. Borrower shall pay interest on the unpaid principal amount of each the Loan from the Funding Date of such Loan until such the Loan has been paid in full, at a per annum rate of 8%. All computations of interest on each the Loan shall be based on a year of 360 days for actual days elapsed provided, however, that per diem interest shall be calculated on the basis of the actual number of days elapsed over a year of 365 days. Notwithstanding any other provision hereof, the amount of interest payable hereunder shall not in any event exceed the maximum amount permitted by applicable law.

Loan Interest Rate. Borrower shall pay interest on the unpaid principal amount of each Loan from the Funding Loan Commencement Date of until such Loan until such Loan has been paid in full, at a per annum rate of 8%interest equal to the Basic Rate. All computations of interest on each Loan shall be based on a year of 360 days for actual days elapsed provided, however, that per diem interest shall be calculated on the basis of the actual number of days elapsed over a year of 365 dayselapsed. Notwithstanding any other provision hereof, the amount of interest payable hereunder shall not in any event exceed the maximum amount permitted by the law applicable lawto interest charged on commercial loans.

Loan Interest Rate. Borrower shall pay interest on the unpaid principal amount of each Loan from the Funding Date of such Loan until such Loan has been paid in full, at a per annum rate of 8%interest equal to the Basic Rate. All computations of interest on each Loan shall be based on a year of 360 days for actual days elapsed provided, however, that per diem interest shall be calculated on the basis of the actual number of days elapsed over a year of 365 dayselapsed. Notwithstanding any other provision hereof, the amount of interest payable hereunder shall not in any event exceed the maximum amount permitted by the law applicable lawto interest charged on commercial loans.