Rate and Payment of Interest. This Note shall bear interest on the outstanding principal amount hereof until paid in full at the rate of twelve and one-half percent (12.5%) per annum, compounded annually. Interest shall accrue until the earlier of the repayment of the outstanding principal sum hereunder in accordance with this Note or the Conversion Date. Upon conversion of this Note pursuant to Section 3 hereof, the accrued and unpaid interest hereon shall not be paid in cash, but shall be converted as provided in Section 3. Interest will be computed on the basis of a year of 365 days for the number of days actually elapsed.
Rate and Payment of Interest. The principal balance of this Debenture shall bear interest at a fixed rate per annum equal to thirteen and one-half percent (13.5%), payable annually in arrears. Interest shall commence to accrue on the date hereof. Interest payments shall be payable in shares of Common Stock of the Company, par value $.0001 per share ("Common Stock"), valued at the Conversion Price as of the due date of the interest payment; provided however, that the Company, at its sole option, may elect to pay any interest payment hereunder in cash, such cash interest payment to be payable no later than One Hundred Eighty (180) days following the original interest payment due date. If this Debenture is prepaid pursuant to the terms of Section 3 hereof, the prepayment sum shall include all unpaid interest accrued through the date of prepayment paid, at the sole option of the Company, either (x) in cash or (y) in shares of Common Stock at the Conversion Price as of the date of prepayment.
Rate and Payment of Interest. The principal balance of this Debenture shall bear interest at a fixed rate per annum equal to thirteen and one-half percent (13.5%), payable annually in arrears. Interest shall commence to accrue on the date hereof. Interest payments shall be payable in shares of Common Stock of the Company, par value $.0001 per share ("Common Stock"), valued at the Conversion Price as of the due date of the interest payment. If this Debenture is prepaid pursuant to the terms of Section 3 hereof, the prepayment sum shall include all unpaid interest accrued through the date of prepayment paid in shares of Common Stock at the Conversion Price as of the date of prepayment. All interest payments hereon shall be payable solely in shares of Common Stock.
Rate and Payment of Interest. The outstanding principal balance of this Note shall bear interest at a per annum rate of one and one-half percentage points (1.5%) in excess of the Base Rate. The interest rate chargeable hereunder shall be increased or decreased, as the case may be, without notice or demand of any kind, upon the announcement of any change in the Base Rate. Each change in the Base Rate shall be effective hereunder on the first day following the announcement of such
Rate and Payment of Interest. The Credit shall bear interest at the rate of the London Interbank Offered Rate (LIBOR), as published by the Reuters web page at 12:00 a.m. on the Effective Date, for six months Credits plus a spread of three percent (3%) per annum calculated on the basis of a 360 day year.
Rate and Payment of Interest. The principal balance of this Note shall bear interest from the date hereof until paid in full at a per annum rate equal to four (4) percentage points above the Reference Rate. For purposes of this Note, "
Rate and Payment of Interest. 1.1 The principal balance of this Note shall bear interest at a per annum rate equal to either the "Fixed Rate" or the "Floating Rate" set forth below, as elected by Borrower as of the Closing Date:
Rate and Payment of Interest. The principal balance of this Note shall bear interest at the rate equal to the Reference Rate plus the Applicable Margin upon the unpaid principal balance hereof until paid in full. From and after the occurrence of an Event of Default, interest payable hereunder shall be at the rate of four (4.0) percentage points above the Reference Rate. Accrued but unpaid interest under this Note shall be due and payable in arrears on the first day of each month, commencing with the first month after the date of this Note. Interest payable hereunder shall be calculated on the basis of a year of 360 days and actual days elapsed. In the event the Reference Rate is from time to time hereunder changed, the rate of interest provided in this Note automatically shall be increased or decreased by an amount equal to the Reference Rate change.
Rate and Payment of Interest. This Note shall bear interest on the unpaid principal balance hereof from time to time outstanding at a rate equal to the "Prime Rate" (as hereinafter defined) plus 2.75%, subject to reduction to the Prime Rate plus 2.25% pursuant to the terms and conditions of the Agreement, but in no event shall the interest rate in any month be less than 9% per annum. Interest shall be calculated on the basis of a 360-day year for the actual number of days elapsed. As used herein, the term "
Rate and Payment of Interest. The aforesaid Note shall bear interest at the rate of six percent (6%) per annum calculated on the basis of a 365-day year. Interest shall be payable by Borrower upon the date for the repayment of principal set forth in Section 1.2 above.
