Default Interest Rate. During any period in which an Event of Default has occurred and is continuing, Interest shall accrue on the outstanding Principal Indebtedness at the rate per annum equal to twelve (12%) percent (the “Default Interest Rate”), compounded monthly; provided, however, that in no event shall Borrower be obligated to pay Interest, charges or fees at a rate in excess of the highest rate permitted by applicable law from time to time in effect.
Appears in 9 contracts
Samples: Guaranty Agreement (Boxlight Corp), Guaranty Agreement (Boxlight Corp), Membership Interest Purchase Agreement (Boxlight Corp)
Default Interest Rate. During any period in which an Event of Default has occurred and is continuing, Interest interest shall accrue on the outstanding Principal Indebtedness at the rate per annum equal to twelve twenty-two (1222%) percent (the “Default Interest Rate”), compounded monthly; provided, however, that in no event shall Borrower be obligated to pay Interest, charges or fees at a rate in excess of the highest rate permitted by applicable law from time to time in effect.
Appears in 4 contracts
Samples: Line of Credit Agreement (Boxlight Corp), Line of Credit Agreement (Boxlight Corp), Line of Credit Agreement (Boxlight Corp)
Default Interest Rate. During any period in which an Event of Default has occurred and is continuing, Interest interest shall accrue on the outstanding Principal Indebtedness at the a rate per annum equal to twelve (12%) percent 1.5 times the Interest Rate (the “Default Interest Rate”), compounded monthly; provided, however, that in no event shall Borrower be obligated to pay Interest, charges or fees at a rate in excess of the highest rate permitted by applicable law from time to time in effect.
Appears in 3 contracts
Samples: Line of Credit Agreement (Triangle Canna Corp.), Triangle Canna Corp., Triangle Canna Corp.
Default Interest Rate. During any period in which an Event of Default has occurred and is continuing, Interest interest shall accrue on the outstanding Principal Indebtedness at the a rate per annum equal to twelve (12%) percent per annum (the “Default Interest Rate”), compounded monthly; provided, however, that in no event shall Borrower be obligated to pay Interest, charges or fees at a rate in excess of the highest rate permitted by applicable law from time to time in effect.
Appears in 2 contracts
Samples: Triangle Canna Corp., Triangle Canna Corp.
Default Interest Rate. During any period in which an Event of Default has occurred and is continuing, Interest interest shall accrue on the outstanding Principal Indebtedness at the rate per annum equal to twelve fifteen (1215%) percent per annum (the “Default Interest Rate”), compounded monthly; provided, however, that in no event shall Borrower be obligated to pay Interest, charges or fees at a rate in excess of the highest rate permitted by applicable law from time to time in effect.
Appears in 2 contracts
Samples: Line of Credit Agreement (Lucy Scientific Discovery, Inc.), Line of Credit Agreement (Lucy Scientific Discovery, Inc.)
Default Interest Rate. During any period in which an Event of Default has occurred and is continuing, Interest shall accrue on the outstanding Principal Indebtedness at the rate per annum equal to twelve six (126%) percent (the “Default Interest Rate”), compounded monthly; provided, however, that in no event shall Borrower Maker be obligated to pay Interest, charges or fees at a rate in excess of the highest rate permitted by applicable law from time to time in effect.
Appears in 2 contracts
Samples: Assignment of Lease and Festival Rights (Hightimes Holding Corp.), Assignment of Lease and Festival Rights (Origo Acquisition Corp)
Default Interest Rate. During any period in which an Event of Default has occurred and is continuing, Interest shall accrue on the outstanding Principal Indebtedness at the rate per annum equal to twelve (12%) percent (the “Default Interest Rate”), compounded monthly; provided, however, that in no event shall Borrower Maker be obligated to pay Interest, charges or fees at a rate in excess of the highest rate permitted by applicable law from time to time in effect.
Appears in 2 contracts
Samples: Stock Purchase Agreement (Hightimes Holding Corp.), Stock Purchase Agreement (Origo Acquisition Corp)
Default Interest Rate. During any period in which an Event of Default has occurred and is continuing, Interest interest shall accrue on the outstanding Principal Indebtedness at the rate per annum equal to twelve eighteen (1218%) percent per annum (the “Default Interest Rate”), compounded monthly; provided, however, that in no event shall Borrower be obligated to pay Interest, charges or fees at a rate in excess of the highest rate permitted by applicable law from time to time in effect.
Appears in 1 contract
Default Interest Rate. During any period in which an Event of Default has occurred and is continuing, Interest interest shall accrue on the outstanding Principal Indebtedness at the rate per annum equal to twelve eighteen (1218%) percent (the “Default Interest Rate”), compounded monthly; provided, however, that in no event shall Borrower be obligated to pay Interest, charges or fees at a rate in excess of the highest rate permitted by applicable law from time to time in effect.
Appears in 1 contract
Samples: STW Resources Holding Corp.
Default Interest Rate. During any period in which an Event of Default has occurred and is continuing, Interest shall accrue on the outstanding Principal Indebtedness at the rate per annum equal to twelve eight (128%) percent (the “Default Interest Rate”), compounded monthly; provided, however, that in no event shall Borrower Maker be obligated to pay Interest, charges or fees at a rate in excess of the highest rate permitted by applicable law from time to time in effect.
Appears in 1 contract
Samples: Protea Biosciences Group, Inc.
Default Interest Rate. During any period in which an Event of Default has occurred and is continuing, Interest interest shall accrue on the outstanding Principal Indebtedness at the rate per annum equal to twelve fifteen (1215%) percent (the “Default Interest Rate”), compounded monthly; provided, however, that in no event shall Borrower be obligated to pay Interest, charges or fees at a rate in excess of the highest rate permitted by applicable law from time to time in effect.
Appears in 1 contract
Default Interest Rate. During any period in which an Event of Default has occurred and is continuing, Interest interest shall accrue on the outstanding Principal Indebtedness at the rate per annum equal to twelve (1222%) percent (the “Default Interest Rate”), compounded monthly; provided, however, that in no event shall Borrower be obligated to pay Interest, charges or fees at a rate in excess of the highest rate permitted by applicable law from time to time in effect.
Appears in 1 contract
Default Interest Rate. During any period in which an Event of Default has occurred and is continuing, Interest shall accrue on the outstanding Principal Indebtedness at the rate per annum equal to twelve eight (128%) percent (the “Default Interest Rate”), compounded monthly; provided, however, that in no event shall Borrower be obligated to pay Interest, charges or fees at a rate in excess of the highest rate permitted by applicable law from time to time in effect.
Appears in 1 contract
Samples: Agreement and Plan of Merger and Reorganization (Photomedex Inc)
