Increase in Interest Rate. (a) If the Effective Date has not occurred by June 30, 1998, then, in addition to the Holder's other remedies the interest rate under the Note shall be increased to 18% per annum (or, if less, the highest rate permitted by law) until the Effective Date. (b) If the Effective Date has not occurred by September 30, 1998, then, in addition to the Holder's other remedies, the interest rate under the Note shall be further increased to 24% per annum (or, if less, the highest rate permitted by law) until the Effective Date. 4.
Appears in 5 contracts
Samples: Private Placement Purchase Agreement (Usci Inc), Usci Inc, Usci Inc
