Loan Interest Rate. The Borrower undertakes to pay interest at a rate of 10% (Ten Percent) per annum on the outstanding principal amount of the Loan from the date of the disbursement of principal under the Loan until such principal amount is repaid. Interest shall be payable quarterly in arrears in all principal outstanding during the preceding quarter. Interest shall be computed on the basis of a 365 day year for the actual number of days elapsed.
Appears in 4 contracts
Samples: Loan Agreement (Innovative Wireless Technologies, Inc.), Loan Agreement (Innovative Wireless Technologies, Inc.), Loan Agreement (Innovative Wireless Technologies, Inc.)
