Payment of Default Interest. Any amount of principal or interest on this Note which is not paid when due shall bear interest until such past due amount is paid at the rate that is the highest permissible non-usurious interest rate (the “Default Rate”).
Appears in 2 contracts
Samples: Promissory Note (Digital Power Corp), Promissory Note (Digital Power Corp)
Payment of Default Interest. Any amount of principal or interest on this Note which is not paid when due shall bear interest from the date due until such past due amount is paid at a rate of interest equal to the rate that is the highest permissible non-usurious interest rate Applicable Rate plus four percent (4%) per annum (the “Default Rate”). Any accrued but unpaid interest at the Default Rate shall, at the option of the Holder, be included, from time to time, in the any amounts converted hereunder.
Appears in 2 contracts
Samples: Convertible Security Agreement (Wild Craze, Inc.), Convertible Security Agreement (Wild Craze, Inc.)
Payment of Default Interest. Any amount of principal principal, interest or interest other sums due on this Note which is are not paid when due shall bear interest from the date due until such past due amount is paid in full at the rate that is the highest permissible non-usurious interest rate permitted by applicable law (the “Default Rate”).
Appears in 2 contracts
Samples: Note Agreement (Puramed Bioscience Inc.), Note (Progressive Care Inc.)
Payment of Default Interest. Any amount of principal or interest on this Note which is not paid when due shall bear interest from the date due until such past due amount is paid at a rate of interest equal to the rate that is the highest permissible non-usurious interest rate Applicable Rate plus four percent (4%) per annum (the “Default Rate”).
Appears in 2 contracts
Samples: Securities Purchase Agreement (Key Link Assets Corp.), Securities Purchase Agreement (Key Link Assets Corp.)
Payment of Default Interest. Any amount of principal principal, interest or interest other sums due on this Note which is not paid when due shall bear interest from the date due until such past due amount is paid in full at the rate that is the highest permissible non-usurious interest rate (the “Default Rate”).
Appears in 1 contract
Samples: Note Agreement (Blue Earth, Inc.)
Payment of Default Interest. Any amount of principal principal, interest, or interest other sums due on this Note or any other Loan Documents which is are not paid when due shall bear interest from the date due until such past due amount is paid in full at the rate that is the highest permissible non-usurious interest rate (the “Default Rate”).
Appears in 1 contract
Samples: Senior Secured Credit Facility Agreement (Drone USA Inc.)
