Pre-Default Rate. Subject to the provisions of subsection (b) below, during any Interest Period the Notes shall bear interest during such Interest Period on the outstanding principal amount thereof at a rate per annum equal to LIBOR plus nine percent (9.00%) per annum. The interest rate shall be recalculated and, if necessary, adjusted for each Interest Period, in each case pursuant to the terms hereof.
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Samples: Note Purchase Agreement, Note Purchase Agreement (OptiNose, Inc.), Note Purchase Agreement (OptiNose, Inc.)
Pre-Default Rate. Subject to the provisions of subsection (b) below, during any Interest Period Period, the Notes shall bear interest during such Interest Period on the outstanding principal amount thereof at a rate per annum at all times equal to LIBOR plus nine percent (9.00%) per annum. The the Pre-Default Rate, which interest rate shall be recalculated and, if necessary, adjusted for each Interest Period, payable quarterly in each case pursuant to the terms hereofarrears in accordance with this Section 2.09.
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Pre-Default Rate. Subject to the provisions of subsection (b) below, during any Interest Period the Notes shall bear interest during such Interest Period on the outstanding principal amount thereof at a rate per annum equal to LIBOR plus nine and one-half percent (9.009.50%) per annum. The interest rate shall be recalculated and, if necessary, adjusted for each Interest Period, in each case pursuant to the terms hereof.
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