Stated Interest Rate Sample Clauses
Stated Interest Rate. The "Stated Interest Rate" shall equal Fifteen Percent (15%) per annum, calculated on the basis of the actual number of days elapsed, assuming a 365-day year, applied to the outstanding principal balance of this Note from time to time. The principal balance outstanding hereunder shall bear interest at the Stated Interest Rate from the date of issuance of this Note through the date that is one day prior to the first to occur of the following events: (i) the unpaid principal balance, together with all accrued interest and other amounts payable hereunder, have been paid in full; (ii) the unpaid principal balance, together with all accrued interest and other amounts payable hereunder, have been converted into shares of the Company’s common stock as permitted in accordance with Section 7; or (iii) the passage of ten (10) days following the occurrence of one or more uncured Events of Default as defined in Section 4.
Stated Interest Rate. Except as provided in Section 1.2 below, the principal balance outstanding hereunder shall bear interest, until fully paid, at 6.0% per annum (the "Stated Interest Rate") based on the number of days elapsed in a 365-day year.
Stated Interest Rate. The term “Stated Interest Rate” shall have the meaning given to that term in the Fee Letter.
Stated Interest Rate. Sections 3(a)-3(c) of the Note are deleted in their entirety and the following is hereby added in lieu thereof:
Stated Interest Rate. Except as provided in Section 4 below, the principal balance outstanding hereunder from time to time shall bear interest at the Stated Interest Rate.
(a) During the Revolving Loan Period, the Stated Interest Rate shall be equal to the greater of: (a) a per annum rate equal to 3.125% plus the LIBOR Rate from time to time in effect; and (b) 4.75% per annum. The “LIBOR Rate” means the 1 month London Interbank Offered Rate (“LIBOR”) which is identified and published by ICE Benchmark Administration for loans in United States dollars as obtained by Lender from Bloomberg Financial Service System (or, if no longer available, any similar or successor publication selected by Lender). The LIBOR Rate shall initially be determined on the date of this Agreement and shall thereafter be adjusted monthly on the first day of each calendar month to be the LIBOR determined by Lender to be in effect on such date. If Lender determines (which determination shall be conclusive absent manifest error) that LIBOR ceases to exist or is no longer available, then commencing on the next reset date following the cessation of LIBOR, the interest rate hereunder shall be replaced with such alternate base rate and spread as Lender determines in its sole and absolute discretion to be most comparable to the then-current interest rate, provided, if there is an industry-accepted successor base rate and spread, Lender may substitute such successor base rate and spread for the interest rate hereunder in Lender’s sole and absolute discretion.
Stated Interest Rate. The unpaid principal amount from time to time outstanding under the Revolving Note will bear interest at a fluctuating rate per annum equal to the LIBOR Rate, plus 2.00%, adjusted monthly on the last day of each calendar month.
Stated Interest Rate. (SECTION 2.2). The Receivables Stated Interest Rate shall be the lesser of (i) the Governing Rate plus (a) if the date of determination is before December 1, 2000, two and one-quarter percent (2.25%) per annum, (b) if the date of determination is before December 1, 2001, but on or after December 1, 2000, two percent (2.00%) per annum, and (c) if the date of determination is on or after December 1, 2001, one and three-quarters percent (1.75%) per annum or (ii) the Maximum Rate. The Inventory Stated Interest Rate shall be the lesser of (i) the Governing Rate plus (a) if the date of determination is before December 1, 2000, two and one-quarter percent (2.25%) per annum, (b) if the date of determination is before December 1, 2001, but on or after December 1, 2000, two percent (2.00%) per annum, and (c) if the date of determination is on or after December 1, 2001, one and three-quarters percent (1.75%) per annum or (ii) the Maximum Rate.
Stated Interest Rate. The Principal Amount shall bear interest at the Stated Interest Rate. The Stated Interest Rate shall be equal to 15% per annum.
Stated Interest Rate. The term “Stated Interest Rate” shall have the meaning set forth in Section 1.1(b)(iii) of Schedule A attached hereto.
Stated Interest Rate. Except as provided in Section 3 below, the principal balance outstanding hereunder from time to time shall bear interest at the Stated Interest Rate. The Stated Interest Rate shall be 6% per annum.