DATARAM CORPORATIONNote and Security Agreement • March 1st, 2010 • Dataram Corp • Computer storage devices • New Jersey
Contract Type FiledMarch 1st, 2010 Company Industry Jurisdiction
ContractNote and Security Agreement • January 11th, 2024 • Kiromic Biopharma, Inc. • Biological products, (no disgnostic substances) • New York
Contract Type FiledJanuary 11th, 2024 Company Industry JurisdictionTHIS NOTE AND THE SHARES OF COMMON STOCK ISSUABLE UPON CONVERSION HEREOF OR UPON THE CONVERSION OF ACCRUED INTEREST AS FURTHER DESCRIBED HEREIN HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS, AND MAY NOT BE SOLD, TRANSFERRED, OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE ACT AND SUCH STATE SECURITIES LAWS.
AMENDED AND RESTATED NOTE AND SECURITY AGREEMENTNote and Security Agreement • July 23rd, 2014 • RICHFIELD OIL & GAS Co • Drilling oil & gas wells • Delaware
Contract Type FiledJuly 23rd, 2014 Company Industry JurisdictionThis Amended and Restated Note and Security Agreement (this "Note and Agreement") amends and restates, and is in substitution and replacement for, but not in payment of, that certain Note and Security Agreement dated May 6, 2014, by Makers and Payee in the original principal amount of $3,000,000 (the "Existing Note and Agreement"). The outstanding indebtedness evidenced by the Existing Note and Agreement is continuing indebtedness, and nothing herein shall be deemed to constitute a payment, settlement, extinguishment, cancellation or novation of the indebtedness under the Existing Note and Agreement. All amounts outstanding under the Existing Note and Agreement shall be automatically transferred to, and shall be deemed to be outstanding under this Note and Agreement. Payeehas agreed to modify the Existing Note and Agreement on the terms set forth in this Note and Agreement for good and valuable consideration.
CROP LOAN APPLICATION AND NOTE/SECURITY AGREEMENTNote and Security Agreement • August 10th, 2018 • Minnesota
Contract Type FiledAugust 10th, 2018 Jurisdiction
NOTE AND SECURITY AGREEMENTNote and Security Agreement • April 6th, 2010 • Non Invasive Monitoring Systems Inc /Fl/ • Electromedical & electrotherapeutic apparatus • Florida
Contract Type FiledApril 6th, 2010 Company Industry JurisdictionFOR VALUE RECEIVED, NON-INVASIVE MONITORING SYTEMS, INC., a Florida corporation with offices at 4400 Biscayne Boulevard, Miami, Florida 33137 (“NIMS” or “Borrower”), pursuant to this Note and Security Agreement (this “Note”) dated as of March 31, 2010, hereby promises to pay to FROST GAMMA INVESTMENTS TRUST (“Frost Gamma”), and HSU GAMMA INVESTMENTS, L.P., a Delaware limited partnership (“Hsu Gamma” and, together with Frost Gamma, “Lender”), at such place as Lender may designate from time to time in writing, in lawful money of the United States of America, the principal amount of $1,000,000, or such lesser amount as shall equal the outstanding principal balance of the loan (the “Loan”) made to Borrower by Lender pursuant to this Note, and to pay all other amounts due with respect to the Loan on the dates and in the amounts set forth in this Note. Frost Gamma will fund an aggregate amount equal to 50.00% of the Loan, and Hsu Gamma will fund an aggregate amount equal to 50.00% of the Loa
EXHIBIT 10.3 PROMISSORY NOTE AND SECURITY AGREEMENTNote and Security Agreement • August 14th, 2002 • Summit Properties Inc • Real estate investment trusts • Maryland
Contract Type FiledAugust 14th, 2002 Company Industry Jurisdiction
Note and Security Agreement (Variable Rate, LIBOR)Note and Security Agreement • November 13th, 2002 • Water Pik Technologies Inc • Electric housewares & fans • California
Contract Type FiledNovember 13th, 2002 Company Industry JurisdictionThis Note and Security Agreement ("Agreement") made as of the date set forth below sets forth the terms and conditions governing the repayment of a loan made by Banc of America Leasing & Capital, LLC ("Secured Party") to the party identified below as "Debtor" for the purpose of financing the personal property identified below as the "Equipment", and the granting by Debtor to Secured Party of a security interest in the Equipment and certain related property to secure the repayment of all Debtor's obligations to Secured Party.
PROMISE TO PAY AND PAYMENT TERMS. This Promissory Note and Security Agreement ("Note") governs your loan with U.S. Bank N.A.Note and Security Agreement • February 19th, 2024 • Ohio
Contract Type FiledFebruary 19th, 2024 Jurisdiction("LENDER"). By signing below, you agree to all terms and conditions of this Note and acknowledge receipt of these documents. BORROWER(S) means everyone who signs below as a borrower, jointly and severally. "You" and "your" refer to BORROWER(S) while "we," "us," and "our" refer to LENDER. THIS NOTE IS MADE AND ENTERED INTO IN OHIO, AND YOU AGREE THAT IT IS GOVERNED BY THE LAWS OF THE STATE OF
AMENDMENT NO. 3 TO PROMISSORY NOTE and SECURITY AGREEMENTNote and Security Agreement • May 12th, 2023 • Akerna Corp. • Services-computer processing & data preparation • Delaware
Contract Type FiledMay 12th, 2023 Company Industry JurisdictionThis AMENDMENT TO PROMISSORY NOTE and SECURITY AGREEMENT (this “Amendment”) is made and entered into as of December 29, 2021, by and among Sphere 3D Corp., an Ontario corporation (“Lender”), and Gryphon Digital Mining, Inc., a Delaware corporation (“Borrower”, and Lender and Borrower, each a “Party” and collectively the “Parties”).
PROMISSORY NOTE AND SECURITY AGREEMENTNote and Security Agreement • April 3rd, 2007 • VCG Holding Corp • Services-amusement & recreation services • Colorado
Contract Type FiledApril 3rd, 2007 Company Industry JurisdictionFOR VALUE RECEIVED, the undersigned, VCG HOLDING CORP., a Colorado corporation (“VCG”) a Colorado corporation, hereby promises to pay to the order of LOWRIE MANAGEMENT LLLP, a Colorado Limited Liability Limited Partnership (“Lowrie”), at 390 Union Blvd, Suite 540, Lakewood, Colorado 80228, or at such other place as Lowrie or any subsequent holder hereof (the “Holder”) may, from time to time, designate in writing, the principal sum of FOUR MILLION AND 00/100 DOLLARS ($4,000,000.00)
PROMISSORY NOTE AND SECURITY AGREEMENTNote and Security Agreement • May 12th, 2000 • Mountain States Capital Inc • Arizona
Contract Type FiledMay 12th, 2000 Company Jurisdiction
EX-10.1 2 aspu_ex10z1.htm FORM OF TERM PROMISSORY NOTE AND SECURITY AGREEMENT TERM PROMISSORY NOTE AND SECURITY AGREEMENT US$5,000,000 New York, New York March 6, 2019Note and Security Agreement • May 5th, 2020 • New York
Contract Type FiledMay 5th, 2020 JurisdictionFOR VALUE RECEIVED, the undersigned, ASPEN GROUP, INC., a Delaware corporation having its principal place of business at 276 Fifth Avenue, Suite 505, New York, New York 10001 (“Maker”), HEREBY PROMISES TO PAY as and when due from time to time in accordance with the terms of this term promissory note and security agreement (this “Note”), whether at its stated Maturity (as defined below) or by acceleration or otherwise, TO THE ORDER OF _______________________________ whose address is c/o _____________________________________ (together with its successors and permitted assigns, “Payee”), at Payee’s address above or at such other place as may be designated from time to time in writing by Payee, in lawful money of the United States of America (“US$” and “U.S. dollars”) and in immediately available funds, IN FULL without deduction, reduction, offset or counterclaim, (i) the principal sum of FIVE MILLION U.S. DOLLARS (US$5,000,000) or such lesser principal amount as shall then be outstanding
NOTE AND SECURITY AGREEMENTNote and Security Agreement • August 22nd, 2008 • Frost Phillip Md Et Al • Pharmaceutical preparations • Florida
Contract Type FiledAugust 22nd, 2008 Company Industry JurisdictionFOR VALUE RECEIVED, Modigene Inc., a Nevada corporation with offices at 3 Sapir Street, Weizmann Science Park, Nes-Ziona, Israel 74140 ("Borrower"), pursuant to this secured note (this "Note"), hereby promises to pay to The Frost Group, LLC, a Florida limited liability company ("Lender"), at such place as Lender may designate from time to time in writing, in lawful money of the United States of America, the principal amount of $10,000,000, or such lesser amount as shall equal the outstanding principal balance of the loan (the "Loan") made to Borrower by Lender pursuant to the Credit Agreement, dated as of March 25, 2008, by and among Borrower and Lender (the "Credit Agreement"), and to pay all other amounts due with respect to the Loan on the dates and in the amounts set forth in the Credit Agreement and this Note.
COMMITTED LINE OF CREDIT FACILITY NOTE AND SECURITY AGREEMENT (CUSO LINE OF CREDIT)Note and Security Agreement • October 15th, 2007 • Ministry Partners Investment Corp • Finance services
Contract Type FiledOctober 15th, 2007 Company IndustryDemand Loan and/or a Term Loan. A "Demand Loan" is a loan with a maximum term of one (1) year and a variable rate, with the Wall Street Journal Prime Rate as the index plus or minus a spread ("Demand Loan Rate"). The maximum Demand Loan fluctuating rate of Interest as publicly announced from time to time by Members United as its Demand Loan Rate for a capital shareholder or non-capital shareholder, as the case may be, will apply with respect to each Demand Loan and corresponding advances. With each change in such fluctuating interest rate, the applicable Demand Loan Rate will correspondingly change and without notice to CUSO. Any change in the Demand Loan Rate shall be effective as of the opening of business on the day on which such change in the Demand Loan Rate becomes effective. A "Term Loan" is a fixed or variable loan that has a set maturity date not to exceed twelve (12) years. The CUSO, during its draw period, will accrue interest and the following rate, to be reset each day as
1 EXHIBIT 10.28 COMMERCIAL PROMISSORY NOTE AND SECURITY AGREEMENT ------------------------------------------------------------------------------- NAME(S) ADDRESS(ES) OF BORROWER(S) NAME/ADDRESS OF LENDER (CREDITOR) ("Borrower, I, My or Me") ("Lender,...Note and Security Agreement • April 17th, 2001 • Bobby Allison Wireless Corp • Retail-radio, tv & consumer electronics stores
Contract Type FiledApril 17th, 2001 Company Industry
ADVANCED BIOENERGY, LLC SUBSCRIPTION AGREEMENT Limited Liability Company Membership Units $10.00 per Unit Minimum Investment of 2,500 Units ($25,000) 100 Unit Increments Thereafter ($1,000)Note and Security Agreement • November 7th, 2005 • Advanced BioEnergy, LLC • Industrial organic chemicals
Contract Type FiledNovember 7th, 2005 Company IndustryThe undersigned subscriber, desiring to become a member of Advanced BioEnergy, LLC ("Advanced BioEnergy"), a Delaware limited liability company, with its principal place of business at 137 N. 8th Street, Geneva, Nebraska 68361, hereby subscribes for the purchase of the membership interests of Advanced BioEnergy, and agrees to pay the related purchase price, identified below.
Note and Security Agreement $ 23,000,000.00 December 30, 1997 For value received, and intending to be legally bound, Undersigned, as defined below, promises to pay to Mellon Bank, N.A. ("Bank") or its order at Harrisburg, Pennsylvania, the sum of...Note and Security Agreement • February 9th, 1998 • C Cor Electronics Inc • Radio & tv broadcasting & communications equipment
Contract Type FiledFebruary 9th, 1998 Company Industry
SECURED CONVERTIBLE PROMISSORY NOTE AND SECURITY AGREEMENT (MULLEN AUTOMOTIVE INC.)Note and Security Agreement • October 21st, 2022 • Mullen Automotive Inc. • Services-computer processing & data preparation • New York
Contract Type FiledOctober 21st, 2022 Company Industry JurisdictionThis secured Promissory Note and Security Agreement (this “Note”) is entered into pursuant to that certain Exchange Agreement of even date herewith by and among the parties hereto (the “Agreement”). For value received, MULLEN AUTOMOTIVE INC., a Delaware corporation, its affiliates, successors, and assigns (“Borrower”), hereby irrevocably and unconditionally promise to pay to the order of Esousa Holdings LLC, a New York limited liability company (together with any and all of its successors and assigns and/or any other holder of this Note, “Lender”), without offset, in immediately available funds in lawful money of the United States of America, at an address to be specified in writing by the Lender to Borrower, the principal sum of TWELVE MILLION NINE HUNDRED FORTY-FIVE THOUSAND NINE HUNDRED FOURTEEN DOLLARS ($12,945,914), together with interest on the unpaid principal balance of this Note from day to day outstanding as hereinafter provided (the “Loan”).
Exhibit 3 NONRECOURSE PROMISSORY NOTE AND SECURITY AGREEMENTNote and Security Agreement • September 13th, 2005 • Brooktrout Inc • Telephone & telegraph apparatus • Massachusetts
Contract Type FiledSeptember 13th, 2005 Company Industry Jurisdiction
RECITALSNote and Security Agreement • April 3rd, 2006 • Zond Windsystem Partners LTD Series 85-A • California
Contract Type FiledApril 3rd, 2006 Company Jurisdiction
AMENDMENT NO. 1 TO NOTE AND SECURITY AGREEMENT DATED AUGUST 11, DELAWARE CORPORATION December 29, 2006Note and Security Agreement • January 8th, 2007 • Titan Global Holdings, Inc. • Communications equipment, nec
Contract Type FiledJanuary 8th, 2007 Company IndustryReference is made to that certain Note and Security Agreement dated August 11, 2005, made by Oblio Telecom, Inc., a Delaware corporation (the "Borrower") in favor F&L LLP (the "Lender") in the original principal amount of Two Million Five Hundred Thousand Dollars ($2,500,000) (the “Original Note”), and that certain Note dated December 14, 2005, made by Borrower in favor the Lender in the original principal amount of Two Million Three Hundred Twenty Two Thousand Eight Hundred and Fifty Dollars ($2,322,850) (the “Second Note”, and together with the Original Note, the “Notes”).
THIRD AMENDMENT TO NOTE AND SECURITY AGREEMENTNote and Security Agreement • March 30th, 2011 • SafeStitch Medical, Inc. • Blank checks • Florida
Contract Type FiledMarch 30th, 2011 Company Industry JurisdictionTHIS THIRD AMENDMENT (THE “THIRD AMENDMENT”) DATED MARCH 28, 2011 TO THE NOTE AND SECURITY AGREEMENT (THE “AGREEMENT”) DATED AS OF SEPTEMBER 4, 2007 AMONG SAFESTICH MEDICAL, INC., SAFESTITCH, LLC (COLLECTIVELY THE “BORROWER”) AND THE UNDERSIGNED LENDERS (“LENDERS”).
Promisory Note and Security AgreementNote and Security Agreement • September 18th, 1998 • Weststar Environmental Inc • Refuse systems
Contract Type FiledSeptember 18th, 1998 Company Industry
AMENDED AND RESTATED NOTE AND SECURITY AGREEMENTNote and Security Agreement • November 8th, 2013 • Dataram Corp • Computer storage devices • New Jersey
Contract Type FiledNovember 8th, 2013 Company Industry JurisdictionAMENDED AND RESTATED NOTE AND SECURITY AGREEMENT (this “Agreement”), dated as of October 31, 2013, by and among David Sheerr, whose principal address is 130 Corporate Drive, Montgomeryville, PA 18936 (“Sheerr”) and Dataram Corporation (“Dataram”), whose principal address is Route 571, P.O. Box 7528, Princeton, NJ 08543-7528.
FORM OF DEMAND PROMISSORY NOTE AND SECURITY AGREEMENTNote and Security Agreement • January 23rd, 2009 • Carbiz Inc • Retail-auto dealers & gasoline stations • Indiana
Contract Type FiledJanuary 23rd, 2009 Company Industry JurisdictionFOR VALUE RECEIVED, the undersigned dealer (“Dealer”) promises to pay to the order of Dealer Services Corporation, a Delaware corporation (“DSC”), with its principal office at 1320 City Center Drive, Suite 100, Carmel, Indiana 46032 or such other place as DSC may designate in writing, in lawful money of the United States of America, the principal sum of ___________________________ ($_______________) (the “Credit Limit”) or such greater or lesser sum which may be advanced from time to time, together with all costs, interest, fees, and expenses as provided for under this Note.
ContractNote and Security Agreement • May 15th, 2003 • Schlotzskys Inc • Retail-eating places • Texas
Contract Type FiledMay 15th, 2003 Company Industry JurisdictionSchlotzsky’s, Inc. 203 Colorado Street Austin, TX 78701 BORROWER’S NAME AND ADDRESS “I” includes each borrower above, jointly and American Bank of Commerce 522 Congress Ave., Suite 100 Austin, TX 78701 LENDER’S NAME AND ADDRESS “You” means the lender, its successors and assigns Loan Number 403409 Date 03/27/03 Maturity Date 06/25/03 Loan Amount $ 150,000.00 Renewal Of
SIXTH AMENDMENT TO NOTE AND SECURITY AGREEMENTNote and Security Agreement • July 26th, 2017 • Non Invasive Monitoring Systems Inc /Fl/ • Electromedical & electrotherapeutic apparatus • Florida
Contract Type FiledJuly 26th, 2017 Company Industry JurisdictionTHIS SIXTH Amendment (THE “SIXTH AMENDMENT”) DATED July 20, 2017 to THE Note and Security Agreement (THE “AGREEMENT”) dated AS OF March 31, 2010, and as amended on March 14, 2011 (the “First Amendment”), July 29, 2011 (the “Second amendment”), MAY 30, 2012 (THE “tHIRD AMENDMENT”), April 8, 2013 (the “Fourth Amendment”), AND July 27, 2015 (THE “FIFTH AMENDMENT”) AMONG NON-INVASIVE MONITORING SYSTEMS, INC. (THE “BORROWER”) AND FROST GAMMA INVESTMENTS TRUST (“FROST GAMMA”) AND HSU GAMMA INVESTMENTS, L.P. (“HSU GAMMA” AND, TOGETHER WITH FROST GAMMA, “LENDER”). THE AGREEMENT, ALONG WITH THE FIRST AMENDMENT, SECOND AMENDMENT, THIRD AMENDMENT, FOURTH AMENDMENT, FIFTH AMENDMENT, AND SIXTH AMENDMENT SHALL BE REFERRED TO HEREIN AS THE AMENDED AGREEMENT.
NOTE AND SECURITY AGREEMENTNote and Security Agreement • November 2nd, 2006 • U.S. Auto Parts Network, Inc. • California
Contract Type FiledNovember 2nd, 2006 Company JurisdictionNOTE AND SECURITY AGREEMENT, dated as of May 19, 2006, by and among U.S. Auto Parts Network, Inc. (the “Company”), on the one hand and Richard Pine, Lowell Mann, Brian Tinari, and Todd Daugherty on the other hand (each a “Secured Party” and together the “Secured Parties”).
THIRD AMENDMENT TO NOTE AND SECURITY AGREEMENTNote and Security Agreement • June 5th, 2012 • Non Invasive Monitoring Systems Inc /Fl/ • Electromedical & electrotherapeutic apparatus • Florida
Contract Type FiledJune 5th, 2012 Company Industry JurisdictionTHIS THIRD AMENDMENT (THE “THIRD AMENDMENT”) DATED MAY 30, 2012 TO THE NOTE AND SECURITY AGREEMENT (THE “AGREEMENT”) DATED AS OF MARCH 31, 2010, AND AS AMENDED ON MARCH 14, 2011 (THE “FIRST AMENDMENT”) AND JULY 29, 2011 (THE “SECOND AMENDMENT”) AMONG NON-INVASIVE MONITORING SYSTEMS, INC. (THE “BORROWER”) AND FROST GAMMA INVESTMENTS TRUST (“FROST GAMMA”) AND HSU GAMMA INVESTMNETS, L.P. (“HSU GAMMA” AND, TOGETHER WITH FROST GAMMA, “LENDER”). THE AGREEMENT, ALONG WITH THE FIRST AMENDMENT, SECOND AMENDMENT AND THE THIRD AMENDMENT, SHALL BE REFERRED TO HEREIN AS THE AMENDED AGREEMENT.
ContractNote and Security Agreement • August 5th, 2024 • Kiromic Biopharma, Inc. • Biological products, (no disgnostic substances) • New York
Contract Type FiledAugust 5th, 2024 Company Industry JurisdictionTHIS NOTE AND THE SHARES OF COMMON STOCK ISSUABLE UPON CONVERSION HEREOF OR UPON THE CONVERSION OF ACCRUED INTEREST AS FURTHER DESCRIBED HEREIN HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS, AND MAY NOT BE SOLD, TRANSFERRED, OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE ACT AND SUCH STATE SECURITIES LAWS.
CUSO LINE OF CREDIT FACILITY NOTE AND SECURITY AGREEMENT (CUSO LINE OF CREDIT)Note and Security Agreement • May 20th, 2008 • Ministry Partners Investment Corp • Finance services • Illinois
Contract Type FiledMay 20th, 2008 Company Industry JurisdictionFOR VALUE RECEIVED, CUSO promises to pay to the order of Members United, in lawful money of the United States and in immediate available funds, the principal sum of ONE HUNDRED MILLION AND NO/00 DOLLARS ------------------------------------------------------------- ($100,000,000.00) and/or the aggregate unpaid principal amount of all advances made to CUSO by Members United pursuant to the forgoing Note and Security Agreement (the “Credit Facility”), together with all relevant attachments, addenda, exhibits and/or schedules, as amended, extended, supplemented, replaced or modified from time to time (collectively, the “Agreement”), whichever is greater, on the first to occur (i) demand or (ii) the maturity date or the expiration date, and to pay interest at the interest rate herein provided (“Interest”) when due as provided in this Agreement on the unpaid principal amount until the maturity date.
PURCHASE MONEY PROMISSORY NOTE AND SECURITY AGREEMENTNote and Security Agreement • November 21st, 2011 • General Aircraft Inc.
Contract Type FiledNovember 21st, 2011 CompanyFor good and valuable consideration, General Aircraft, Inc., a Nevada corporation, (“Maker”), hereby makes and delivers this Purchase Money Promissory Note and Security Agreement (this “Note”) in favor of Western Intermountain Holdings Trust, or its assigns (“Holder”), and hereby agrees as follows:
Note and Security Agreement (Variable Rate, LIBOR) ---------------------------- ---------------------------------------------------- This Note and Security Agreement ("Agreement") made as of the date set forth below sets forth the terms and conditions...Note and Security Agreement • November 14th, 2002 • Penhall International Corp • Services-miscellaneous equipment rental & leasing • California
Contract Type FiledNovember 14th, 2002 Company Industry Jurisdiction
Vehicle Security Agreement FormNote and Security Agreement • May 2nd, 2021
Contract Type FiledMay 2nd, 2021STATE OF ARKANSAS ARTREASURY GOV. SECURITY AGREEMENT UNIVERSITY OF DELAWARE. CAR RENTAL AGREEMENT TEMPLATE GET FREE SAMPLE. UCC SECURITY AGREEMENTS FULLERTON AMP KNOWLES P C. FREE USED CAR BILL OF SALE FREE LEGAL DOCUMENTS. FREE PRINTABLE SECURITY AGREEMENT FORM PDF AMP WORD
NOTE AND SECURITY AGREEMENT Principal amount: $250,000 USD Date: July 24, 2007Note and Security Agreement • August 13th, 2007 • Megola Inc • Services-personal services • Ontario
Contract Type FiledAugust 13th, 2007 Company Industry JurisdictionFOR VALUE RECEIVED, the undersigned hereby promises to pay to Pacific Channel Ltd. [“PCL”] the sum of TWO HUNDRED FIFTY THOUSAND U. S. Dollars ($250,000), with no interest thereon if repaid when due. Said sum shall be paid in the following manner: $250,000 USD to be repaid in its entirety six months from the date hereof, unless such date is extended by PCL. If this Note is not repaid when due, in addition to the pledged assets as described below, PCL will be entitled to interest that is accrued against the outstanding principal on a daily basis at the annual simple rate of 15% from the date above until the loan is paid off by Megola.