Common use of Amount and Payment of Special Interest Clause in Contracts

Amount and Payment of Special Interest. Any Special Interest that accrues on a Note pursuant to Section 7.03(A) will be payable in arrears on the same dates and in the same manner as the Stated Interest on such Note and will accrue at a rate per annum equal to one quarter of one percent (0.25%) of the principal amount thereof for the first ninety (90) days on which Special Interest accrues and, thereafter, at a rate per annum equal to one half of one percent (0.50%) of the principal amount thereof for the duration of the period on which Special Interest accrues; provided, however, that in no event will Special Interest payable at the Company’s election pursuant to Section 7.03(A) as the sole remedy for any Reporting Event of Default, together with any Additional Interest that may accrue pursuant to Section 3.04(A), accrue on any day on a Note at a combined rate per annum that exceeds one half of one percent (0.50%). For the avoidance of doubt, any Special Interest that accrues on a Note pursuant to Section 7.03(A) will be in addition to the Stated Interest that accrues on such Note and in addition to any Additional Interest that accrues on such Note.

Appears in 3 contracts

Samples: Indenture (Starry Holdings, Inc.), Convertible Note Subscription Agreement (Starry Holdings, Inc.), Indenture (Shift Technologies, Inc.)

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Amount and Payment of Special Interest. Any Special Interest that accrues on a Note pursuant to Section 7.03(A) will be payable in arrears on the same dates and in the same manner as the Stated Interest on such Note and will accrue at a rate per annum equal to one quarter of one percent (0.25%) of the principal amount thereof for the first ninety one hundred and eighty (90180) days on which Special Interest accrues and, thereafter, at a rate per annum equal to one half of one percent (0.50%) of the principal amount thereof for the duration of the period on which Special Interest accrues; provided, however, that in no event will Special Interest payable at the Company’s election pursuant to Section 7.03(A) as the sole remedy for any Reporting Event of Default, together with any Additional Interest that may accrue pursuant to Section 3.04(A)3.04, accrue on any day on a Note at a combined rate per annum that exceeds one half of one percent (0.50%). For the avoidance of doubt, any Special Interest that accrues on a Note pursuant to Section 7.03(A) will be in addition to the Stated Interest that accrues on such Note and in addition to any Additional Interest that accrues on such Note.

Appears in 3 contracts

Samples: Indenture (Nogin, Inc.), Indenture (Nogin, Inc.), Indenture (Software Acquisition Group Inc. III)

Amount and Payment of Special Interest. Any Special Interest that accrues on a Note pursuant to Section 7.03(A) will be payable in arrears on the same dates and in the same manner as the Stated Interest on such Note and will accrue at a rate per annum equal to one quarter of one percent (0.25%) of the principal amount thereof for the first ninety one hundred and eighty (90180) days on which Special Interest accrues and, thereafter, at a rate per annum equal to one half of one percent (0.50%) of the principal amount thereof for the duration thereof, in each case as long as such Reporting Event of the period on which Special Interest accruesDefault is continuing; provided, however, that in no event will Special Interest pursuant to Section 3.04(A)(i)(1), together with any Special Interest that is payable at the Company’s election pursuant to this Section 7.03(A) 7.03 as the sole remedy for any Reporting Event of Default, together with any Additional Interest that may accrue pursuant to Section 3.04(A), accrue on any day on a Note at a combined rate per annum that exceeds one half of one percent (0.50%). For the avoidance of doubt, any Special Interest that accrues on a Note pursuant to Section 7.03(A) will be in addition to the Stated Interest that accrues on such Note and and, subject to the proviso of the immediately preceding sentence, in addition to any Additional Special Interest that accrues on such NoteNote pursuant to Section 3.04.

Appears in 2 contracts

Samples: Coinbase Global, Inc., Coinbase Global, Inc.

Amount and Payment of Special Interest. Any Special Interest that accrues on a Note pursuant to Section 7.03(A) will be payable in arrears on the same dates and in the same manner as the Stated Interest on such Note and will accrue at a rate per annum equal to one quarter of one percent (0.25%) of the principal amount thereof for the first ninety (90) days on which Special Interest accrues accrues, and, thereafter, at a rate per annum equal to one half of one percent (0.50%) of the principal amount thereof for the duration thereof, in each case as long as such Reporting Event of the period on which Special Interest accruesDefault is continuing; provided, however, that in no event will Additional Interest pursuant to Section 3.04(A), together with any Special Interest that is payable at the Company’s election pursuant to this Section 7.03(A) 7.03 as the sole remedy for any Reporting Event of Default, together with any Additional Interest that may accrue pursuant to Section 3.04(A), accrue on any day on a Note at a combined rate per annum that exceeds one half of one percent (0.50%). For the avoidance of doubt, any Special Interest that accrues on a Note pursuant to Section 7.03(A) will be in addition to the Stated Interest that accrues on such Note Note, subject to the proviso in the previous sentence, and in addition to any Additional Interest that accrues on such Note.

Appears in 2 contracts

Samples: Indenture (Outbrain Inc.), Loan and Security Agreement (Outbrain Inc.)

Amount and Payment of Special Interest. Any Special Interest that accrues on a Note pursuant to Section 7.03(A) will be payable in arrears on the same dates and in the same manner as the Stated Interest on such Note and will accrue at a rate per annum equal to one quarter of one percent (0.25%) of the principal amount thereof for the first ninety one hundred eighty (90180) days on which Special Interest accrues and, thereafter, at a rate per annum equal to one half of one percent (0.50%) of the principal amount thereof for the duration of the period on which Special Interest accruesthereof; provided, however, that in no event will Special Interest payable at the Company’s election pursuant to Section 7.03(A) as the sole remedy for any Reporting Event of DefaultInterest, together with any Additional Interest that may accrue as a result of the Company’s failure to timely file any report (other than Form 8-K reports) that we are required to file with the SEC pursuant to Section 3.04(A)13 or 15(d) of the Exchange Act, as applicable, accrue on any day on a Note at a combined rate per annum that exceeds one half of one percent (0.50%), regardless of the number of events or circumstances giving rise to the requirement to pay such Special Interest or Additional Interest. For the avoidance of doubt, any Special Interest that accrues on a Note pursuant to Section 7.03(A) will be in addition to the Stated Interest that accrues on such Note and subject to the proviso of the immediately preceding sentence, in addition to any Additional Interest that accrues on such Note.

Appears in 2 contracts

Samples: Indenture (Bentley Systems Inc), Indenture (Bentley Systems Inc)

Amount and Payment of Special Interest. Any Special Interest that accrues on a Note pursuant to Section 7.03(A) will be payable in arrears on the same dates and in the same manner as the Stated Interest on such Note and will accrue at a rate per annum equal to one quarter of one percent (0.25%) of the principal amount thereof for the first ninety one hundred and eighty (90180) days on which Special Interest accrues and, thereafter, at a rate per annum equal to one half of one percent (0.50%) of the principal amount thereof for from the duration of one hundred eighty first (181st) day to, and including, the period three hundred sixtieth (360th) day on which Special Interest accrues; provided, however, that in no event will Special Interest payable at the Company’s election pursuant to Section 7.03(A) as the sole remedy for any Reporting Event of DefaultInterest, together with any Additional Interest that may accrue pursuant to Section 3.04(A)Interest, accrue on any day on a Note at a combined rate per annum that exceeds one half of one percent (0.50%), regardless of the number of events or circumstances giving rise to the accrual of Special Interest or Additional Interest. For the avoidance of doubt, any Special Interest that accrues on a Note pursuant to Section 7.03(A) will be in addition to the Stated Interest that accrues on such Note and and, subject to the proviso of the immediately preceding sentence, in addition to any Additional Interest that accrues on such Note.

Appears in 2 contracts

Samples: Indenture (Inovio Pharmaceuticals, Inc.), Indenture (Neurocrine Biosciences Inc)

Amount and Payment of Special Interest. Any Special Interest that accrues on a Note pursuant to Section 7.03(A3.04(A) will be payable in arrears on the same dates and in the same manner as the Stated Interest on such Note and will accrue at a rate per annum equal to one quarter of one percent (0.25%) of the principal amount thereof for the first ninety (90) days on which Special Interest accrues and, thereafter, at a rate per annum equal to one half of one percent (0.50%) of the principal amount thereof for the duration of the period on which Special Interest accruesthereof; provided, however, that in no event will Special Interest that may accrue pursuant to Section 3.04(A)(i)(1), together with any Special Interest that is payable at the Company’s election pursuant to Section 7.03(A) 7.03 as the sole remedy for any Reporting Event of Default, together with any Additional Interest that may accrue pursuant to Section 3.04(A), accrue on any day on a Note at a combined rate per annum that exceeds one half of one percent (0.50%), regardless of the number of events or circumstances giving rise to the requirement to pay such Special Interest. For the avoidance of doubt, any Special Interest that accrues on a Note pursuant to this Section 7.03(A) 3.04 will be in addition to the Stated Interest that accrues on such Note and and, subject to the proviso of the immediately preceding sentence, in addition to any Additional Special Interest that accrues on such NoteNote pursuant to Section 7.03.

Appears in 2 contracts

Samples: Coinbase Global, Inc., Coinbase Global, Inc.

Amount and Payment of Special Interest. Any Special Interest that accrues on a Note pursuant to Section 7.03(A) will be payable in arrears on the same dates and in the same manner as the Stated Interest on such Note and will accrue at a rate per annum equal to one quarter of one percent (0.25%) of the principal amount thereof for the first ninety (90) days on which Special Interest accrues accrues, and, thereafter, at a rate per annum equal to one half of one percent (0.50%) of the principal amount thereof for the duration thereof, in each case as long as such Reporting Event of the period on which Special Interest accruesDefault is continuing; provided, however, that in no event will Additional Interest pursuant to Section 3.04(A)(i)(1), together with any Special Interest that is payable at the Company’s election pursuant to this Section 7.03(A) 7.03 as the sole remedy for any Reporting Event of Default, together with any Additional Interest that may accrue pursuant to Section 3.04(A), accrue on any day on a Note at a combined rate per annum that exceeds one half of one percent (0.50%). For the avoidance of doubt, any Special Interest that accrues on a Note pursuant to Section 7.03(A) will be in addition to the Stated Interest that accrues on such Note Note, subject to the proviso in the previous sentence, and in addition to any Additional Interest that accrues on such Note.

Appears in 1 contract

Samples: Magnite, Inc.

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Amount and Payment of Special Interest. Any Special Interest that accrues on a Note pursuant to Section 7.03(A) will be payable in arrears on the same dates and in the same manner as the Stated Interest on such Note and will accrue at a rate per annum equal to one quarter of one percent (0.25%) of the principal amount thereof for the first ninety one hundred and eighty (90180) days on which Special Interest accrues and, thereafter, at a rate per annum equal to one half of one percent (0.50%) of the principal amount thereof for thereof. Notwithstanding anything to the duration of contrary in the period on which Special Interest accrues; providedpreceding sentence, however, that in no event will Special Interest payable at the Company’s election pursuant to Section 7.03(A) as the sole remedy for any Reporting Event of Default, together with any Additional Interest that may accrue pursuant to Section 3.04(A), accrue on any day on a Note at a combined rate per annum that exceeds one half that set forth in the preceding sentence, regardless of one percent (0.50%)the number of events giving rise to the accrual of Special Interest. For the avoidance of doubt, any Special Interest that accrues on a Note pursuant to Section 7.03(A) will be in addition to the Stated Interest that accrues on such Note and in addition to any Additional Interest that accrues on such Note. Notwithstanding the foregoing, in no event shall additional interest accrue on any day under the terms of this Indenture (including any interest under the provision described above together with any interest under the provisions of Section 3.04) at an annual rate accruing in excess of 0.50%, in the aggregate.

Appears in 1 contract

Samples: Realogy Group LLC

Amount and Payment of Special Interest. Any Special Interest that accrues on a Note pursuant to Section 7.03(A) will be payable in arrears on the same dates and in the same manner as the Stated Interest on such Note and will accrue at a rate per annum equal to one quarter of one percent (0.25%) of the principal amount thereof for the first ninety one hundred and eighty (90180) days on which Special Interest accrues and, thereafter, at a rate per annum equal to one half of one percent (0.50%) of the principal amount thereof for the duration thereof, in each case as long as such Reporting Event of the period on which Special Interest accruesDefault is continuing; provided, however, that in no event will Additional Interest pursuant to Section 3.04(A)(i)(1), together with any Special Interest that is payable at the Company’s election pursuant to this Section 7.03(A) 7.03 as the sole remedy for any Reporting Event of Default, together with any Additional Interest that may accrue pursuant to Section 3.04(A), accrue on any day on a Note at a combined rate per annum that exceeds one half of one percent (0.50%). For the avoidance of doubt, any Special Interest that accrues on a Note pursuant to Section 7.03(A) will be in addition to the Stated Interest that accrues on such Note and in addition to any Additional Interest that accrues on such Note.

Appears in 1 contract

Samples: Ceridian HCM (Ceridian HCM Holding Inc.)

Amount and Payment of Special Interest. Any Special Interest that accrues on a Note pursuant to Section 7.03(A3.04(A) will be payable in arrears on the same dates and each Special Interest Payment Date as set forth in the same manner as the Stated Interest on such Note Section 2.04 and will accrue at a rate per annum equal to one quarter of one percent (0.25%) of the principal amount thereof for the first ninety (90) days on which Special Interest accrues and, thereafter, at a rate per annum equal to one half of one percent (0.50%) of the principal amount thereof for the duration of the period on which Special Interest accruesthereof; provided, however, that in no event will Special Interest that may accrue pursuant to Section 3.04, together with any Special Interest that is payable at the Company’s election pursuant to Section 7.03(A) 7.03 as the sole remedy for any Reporting Event of Default, together with any Additional Interest that may accrue pursuant to Section 3.04(A), accrue on any day on a Note at a combined rate per annum that exceeds one half of one percent (0.50%), regardless of the number of events or circumstances giving rise to the requirement to pay such Special Interest. For the avoidance of doubt, any Special Interest that accrues on a Note pursuant to this Section 7.03(A) 3.04 will be in addition to the Stated any Special Interest that accrues on such Note and in addition pursuant to any Additional Interest that accrues on such NoteSection 7.03.

Appears in 1 contract

Samples: Indenture (Peloton Interactive, Inc.)

Amount and Payment of Special Interest. Any Special Interest that accrues on a Note pursuant to Section 7.03(A) will be payable in arrears on the same dates and in the same manner as the Stated Interest on such Note and will accrue at a rate per annum equal to one quarter of one percent (0.25%) of the principal amount thereof for the first ninety one hundred and eighty (90180) days on which Special Interest accrues and, thereafter, at a rate per annum equal to one half of one percent (0.50%) of the principal amount thereof for the duration of the period on which Special Interest accruesthereof; provided, however, that in no event will Special Interest payable at the Company’s election pursuant to Section 7.03(A) as the sole remedy for any Reporting Event of Default, together with any Additional Interest that may accrue as a result of the Company’s failure to timely file any report (other than Form 8-K reports) that the Company is required to file with the SEC pursuant to Section 3.04(A13 or 15(d) of the Exchange Act (after giving effect to all applicable grace periods thereunder), pursuant to Section 3.04, accrue on any day on a Note at a combined rate per annum that exceeds one half of one percent (0.50%)) regardless of the number of events or circumstances giving rise to the accrual of Special Interest. For the avoidance of doubt, any Special Interest that accrues on a Note pursuant to Section 7.03(A) will be in addition to the Stated Interest that accrues on such Note and and, subject to the proviso of the immediately preceding sentence, be in addition to any Additional Interest that accrues on such Note.

Appears in 1 contract

Samples: Cytokinetics, Incorporated (Cytokinetics Inc)

Amount and Payment of Special Interest. Any Special Interest that accrues on a Note pursuant to Section 7.03(A3.04(A) will be payable in arrears on the same dates and each Special Interest Payment Date as set forth in the same manner as the Stated Interest on such Note Section 2.04 and will accrue at a rate per annum equal to one quarter of one percent (0.25%) of the principal amount thereof for the first ninety (90) days on which Special Interest accrues and, thereafter, at a rate per annum equal to one half of one percent (0.50%) of the principal amount thereof for the duration of the period on which Special Interest accrues; provided, however, that in no event will Special Interest that may accrue as a result of the Company’s failure to timely file any report (other than Form 8-K reports) that the Company is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act (after giving effect to all applicable grace periods thereunder), pursuant to Section 3.04(A), together with any Special Interest that is payable at the Company’s election pursuant to Section 7.03(A) as the sole remedy for any Reporting Event of Default, together with any Additional Interest that may accrue pursuant to Section 3.04(A), accrue on any day on a Note at a combined rate per annum that exceeds one half of one percent (0.50%). For the avoidance of doubt, any Special Interest that accrues on a Note pursuant to Section 7.03(A3.04(A) will be in addition to the Stated any Special Interest that accrues on such Note and in addition pursuant to any Additional Interest that accrues on such NoteSection 7.03(A).

Appears in 1 contract

Samples: Indenture (SmileDirectClub, Inc.)

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