Common use of Base Interest Clause in Contracts

Base Interest. Subject to the provisions of Section 3.2B, the unpaid principal amount of the Notes shall bear interest from and after the Amendment and Restatement Closing Date at a base rate of twenty percent (20%) per annum (such interest is referred to herein as the “Base Interest”), which shall be payable in cash on each Interest Payment Date in arrears.

Base Interest. Subject to the provisions of Section 3.2B, the unpaid principal amount of the Notes shall bear interest from and after the Amendment and Restatement Closing Date at a base rate of twenty fourteen percent (2014%) per annum (such interest is referred to herein as the “Base Interest”), which shall be payable annually in cash arrears on each Interest Payment Date anniversary of the Closing Date, in arrearscash.