Computation and Payment of Interest. Interest shall be based on a 365 day year and compounded monthly. Interest shall be paid monthly commencing on June 20,3004, and continuing on the twentieth (20th) day of each month thereafter. If interest is not paid as it becomes due, it may be added to, become and be treated as a part of the principal, and shall thereafter bear like interest.
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Sources: Term Loan Agreement (Lyles Diversified, Inc.), Term Loan Agreement (Pacific Ethanol, Inc.)
Computation and Payment of Interest. Interest shall be based on a 365 day year and compounded monthly. Interest shall be paid monthly commencing on June 20,300420, 2004, and continuing on the twentieth (20th) day of each month thereafter. If interest is not paid as it becomes due, it may be added to, become and be treated as a part of the principal, and shall thereafter bear like interest.
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