Common use of Series B Notes Clause in Contracts

Series B Notes. Interest shall accrue on the unpaid principal balance of the Series B Notes on the basis of a 360-day year of twelve 30-day months at the rate of 6.60% per annum and shall be payable, in arrears, semiannually on February 27 and August 27 in each year, commencing on August 27, 1998, until the principal amount of the Series B Notes in respect of which such interest shall have accrued shall become due and payable, and interest shall accrue on any overdue principal (including any overdue prepayment of principal), Make-Whole Amount, if any, and (to the extent permitted by applicable law) on any overdue installment of interest on the Series B Notes at a rate equal to the Series B Default Rate.

Appears in 2 contracts

Samples: Note Purchase Agreement (Invacare Corp), Purchase Agreement (Invacare Corp)

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Series B Notes. Interest shall accrue on the unpaid principal balance of With respect to the Series B Notes on the basis of a 360-day year of twelve 30-day months Notes, at the rate of 6.608.41% per annum and shall be payablepayable to the holders of the Series B Notes, in arrears, semiannually quarterly on February 27 the first day of February, May, August and August 27 November in each year, commencing on August 271, 19981996, until the principal amount of the Series B Notes in respect of which such interest shall have accrued shall become due and payable, and interest shall accrue on any overdue principal (including any overdue prepayment of principal), Make-Whole Amount, if any, and (to the extent permitted by applicable law) on any overdue installment of interest on the Series B Notes at a rate equal to the Series B Default Rate.lesser of (i) the highest rate allowed by applicable law, and (ii) 10.41% per annum,

Appears in 1 contract

Samples: Note Purchase Agreement (Smithfield Foods Inc)

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Series B Notes. Interest shall accrue on the unpaid principal balance of the Series B Notes on the basis of a 360-day year of twelve 30-day months at the rate of 6.604.74% per annum and shall be payable, in arrears, semiannually on February 27 April 1 and August 27 October 1 in each year, commencing on August 27April 1, 19982004, until the principal amount of the Series B Notes in respect of which such interest shall have accrued shall become due and payable, and interest shall accrue on any overdue principal (including any overdue prepayment of principal), Make-Whole Amount, if any, and (to the extent permitted by applicable law) on any overdue installment of interest on the Series B Notes at a rate equal to the Series B Default Rate.

Appears in 1 contract

Samples: Note Purchase Agreement (Invacare Corp)

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