Payment of Cash; Defaults. Whenever the Corporation is required to make any cash payment to a holder of Series A Preferred Stock pursuant to this Certificate of Designation (as payment of any Dividend, upon redemption or otherwise), such cash payment shall be made to the holder within five business days of the payment date set forth herein. If such payment is not delivered within such five business day period, such holder shall thereafter be entitled to interest on the unpaid amount at a per annum rate equal to the lower of eighteen percent (18%) and the highest interest rate permitted by applicable law until such amount is paid in full to the holder.
Appears in 3 contracts
Samples: Transfer and Contribution Agreement, Transfer and Contribution Agreement (Resource Capital Corp.), Transfer and Contribution Agreement (Resource America, Inc.)
