Common use of Default Interest Rate Clause in Contracts

Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, the Borrower shall pay additional interest on this Note in an amount equal to two percent (2%) per month, and all outstanding obligations under this Note, including unpaid interest, shall continue to accrue such additional interest from the date of such Event of Default until the date such Event of Default is cured or waived.

Appears in 19 contracts

Samples: Securities Purchase Agreement (American Water Star Inc), Securities Purchase Agreement (Petrol Oil & Gas Inc), Secured Term Note (Science Dynamics Corp)

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Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, the Borrower shall pay additional interest on this Note in an amount equal to two percent (2%) per month, and all outstanding obligations under this NoteObligations, including unpaid interest, shall continue to accrue such additional interest from the date of such Event of Default until the date such Event of Default is cured or waived.

Appears in 4 contracts

Samples: Digital Lifestyles Group Inc, Comc Inc, Digital Lifestyles Group Inc

Default Interest Rate. Following the occurrence and during the continuance of an Event of DefaultDefault and following the expiration of all applicable notice and cure periods related thereto, the Borrower shall pay additional interest on this Note on a monthly basis in an amount equal to two percent eighteen (218%) per monthannum, and all outstanding obligations under this Note, including unpaid interest, shall continue to accrue such additional interest from the date of such Event of Default until the date such Event of Default is cured or waived.

Appears in 4 contracts

Samples: Creative Vistas Inc, Creative Vistas Inc, Creative Vistas Inc

Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, the Borrower shall pay additional interest on this Note in an amount equal to two one percent (21%) per month, and all outstanding obligations under this Note, including unpaid interest, shall continue to accrue such additional interest from the date of such Event of Default until the date such Event of Default is cured or waived.

Appears in 3 contracts

Samples: Secured Term Note (Elec Communications Corp), Elec Communications Corp, Elec Communications Corp

Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, the Borrower Company shall pay additional interest on this Note in an amount equal to two one and one half percent (21.50%) per month, month and all outstanding obligations under this Note, including unpaid interest, shall continue to accrue such additional interest from the date of such Event of Default until the date such Event of Default is cured or waived.

Appears in 3 contracts

Samples: Securities Purchase Agreement (It&e International Group), Omnibus Amendment (It&e International Group), It&e International Group

Default Interest Rate. Following the occurrence and during the continuance of an Event of DefaultDefault and following the expiration of all applicable notice and cure periods related thereto, the Borrower shall pay additional interest on this Note on a monthly basis in an amount equal to two eighteen percent (218%) per month, annum and all outstanding obligations under this NoteObligations, including unpaid interest, shall continue to accrue such additional interest from the date of such Event of Default until the date such Event of Default is cured or waived.

Appears in 3 contracts

Samples: Creative Vistas Inc, Creative Vistas Inc, Creative Vistas Inc

Default Interest Rate. Following the occurrence and during the ----------------------- continuance of an Event of Default, the Borrower shall pay additional interest on this Note in an amount equal to two one percent (21%) per month, and all outstanding obligations under this Note, including unpaid interest, shall continue to accrue such additional interest from the date of such Event of Default until the date such Event of Default is cured or waived.

Appears in 2 contracts

Samples: Secured Term Note (Elec Communications Corp), Secured Term (Elec Communications Corp)

Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, the Borrower shall pay additional interest on this Term Note in an amount equal to two one and a half percent (21.5%) per monthmonth (eighteen percent (18%) per annum), and all outstanding obligations under this Term Note, including unpaid interest, shall continue to accrue such additional interest from the date of such Event of Default until the date such Event of Default is cured or waived.

Appears in 2 contracts

Samples: EMTA Holdings, Inc., EMTA Holdings, Inc.

Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, the Borrower shall pay additional interest on this Note in an amount equal to two one and one half percent (21.5%) per month, and all outstanding obligations under this Note, including unpaid interest, shall continue to accrue such additional interest from the date of such Event of Default until the date such Event of Default is cured or waived.

Appears in 2 contracts

Samples: Elinear Inc, Elinear Inc

Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, the Borrower shall pay additional interest on this Term Note in an amount equal to two percent (2%) per monthmonth (twenty-four percent (24%) per annum), and all outstanding obligations under this Term Note, including unpaid interest, shall continue to accrue such additional interest from the date of such Event of Default until the date such Event of Default is cured or waived.

Appears in 2 contracts

Samples: Corgenix Medical Corp/Co, Corgenix Medical Corp/Co

Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, if not cured within the appropriate time, the Borrower shall pay additional interest on this Note in an amount equal to two one percent (21.0%) per month, and all outstanding obligations under this Note, including unpaid interest, shall continue to accrue such additional interest from the date of such Event of Default until the date such Event of Default is cured or waived.

Appears in 2 contracts

Samples: Icoria, Inc., Clinical Data Inc

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Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, the Borrower shall pay additional interest on this Note in an amount at a rate equal to two the Interest Rate (without any deduction pursuant to Section 1.1(b)) plus twelve percent (212.0%) per monthannum , and all outstanding obligations under this Note, including unpaid interest, shall continue to accrue such additional interest from the date of such Event of Default until the date such Event of Default is cured or waived.

Appears in 1 contract

Samples: Cardiogenesis Corp /Ca

Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, the Borrower shall pay additional interest on this Note in an amount equal to two one percent (21%) per monthmonth in lieu of the interest payable on this Note under the provisions of Section 1.1, and all outstanding obligations under this Note, including unpaid interest, shall continue to accrue such additional interest from the date of such Event of Default until the date such Event of Default is cured or waived.

Appears in 1 contract

Samples: Tm Bioscience Corp

Default Interest Rate. Following the occurrence and during the continuance of an Event of DefaultDefault or if payment in full is not made on or before the Maturity Date, the Borrower shall pay additional interest on this Term Note in an amount equal to two one and a half percent (21.5%) per monthmonth (eighteen percent (18%) per annum), and all outstanding obligations under this Term Note, including unpaid interest, shall continue to accrue such additional interest from the date of such Event of Default until the date such Event of Default is cured or waived.

Appears in 1 contract

Samples: Host America Corp

Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, if not cured within the appropriate time, the Borrower shall pay additional interest on this Note in an amount equal to two percent (22.0%) per month, and all outstanding obligations under this Note, including unpaid interest, shall continue to accrue such additional interest from the date of such Event of Default until the date such Event of Default is cured or waived.

Appears in 1 contract

Samples: Clinical Data Inc

Default Interest Rate. Following the occurrence and during the continuance of an Event of Default, the Borrower shall pay additional interest on this Note in an amount equal to two percent (2%) per monthmonth to a maximum annual rate not to exceed fifteen percent (15%), and all outstanding obligations under this Note, including unpaid interest, shall continue to accrue such additional interest from the date of such Event of Default until the date such Event of Default is cured or waived.

Appears in 1 contract

Samples: Catalyst Lighting Group Inc

Default Interest Rate. Following the occurrence and during the continuance of an Event of DefaultDefault and following the expiration of all applicable notice and cure periods related thereto, the Borrower shall pay additional interest on this Note on a monthly basis in an amount equal to two percent ten (210%) per monthannum, and all outstanding obligations under this Note, including unpaid interest, shall continue to accrue such additional interest from the date of such Event of Default until the date such Event of Default is cured or waived.

Appears in 1 contract

Samples: Secured Term Note (Creative Vistas Inc)

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