Common use of Interest on Notes Clause in Contracts

Interest on Notes. (a) Except as otherwise set forth herein, each Note shall bear interest on the unpaid principal amount thereof from the date issued and sold through the date of repayment (whether by acceleration or otherwise) thereof at a rate of 13.00% per annum. (b) [Reserved]. (c) [Reserved]. (d) Interest payable pursuant to Section 2.7(a) shall be computed on the basis of a three hundred sixty‑day year, in each case for the actual number of days elapsed in the period during which it accrues. In computing interest on any Note, the date of the issuance and sale of such Note or the Interest Payment Date shall be included, and the date of payment of such Note, shall be excluded; provided, if a Note is repaid on the same day on which it is made, one day’s interest shall be paid on that Note. (e) Except as otherwise set forth herein, interest on each Note (i) shall accrue on a daily basis and shall be payable in Cash in arrears on each Interest Payment Date with respect to interest accrued on and to each such Interest Payment Date; (ii) shall accrue on a daily basis and shall be payable in arrears upon any prepayment of that Note, whether voluntary or mandatory, to the extent accrued on the amount being prepaid; and (iii) shall accrue on a daily basis and shall be payable in arrears at maturity of the Notes, including final maturity of the Notes.

Interest on Notes. (a) Except as otherwise set forth herein, each Note the Notes shall bear accrue interest on daily in an amount equal to the product of (A) the unpaid principal amount Aggregate Outstanding Amount thereof from as of such day and (B) the date issued and sold through LIBO Rate for such period plus the date of repayment (whether by acceleration or otherwise) thereof at a rate of 13.00% per annumApplicable Margin. (b) [Reserved]. (c) [Reserved]. (d) Interest payable pursuant to Section 2.7(a2.5(a) shall be computed on the basis of a three hundred sixty‑day 360‑day year, in each case for the actual number of days elapsed in the period during which it accrues. In computing interest on any Note, the date of the issuance and sale funding of such Note or the first day of an Interest Payment Date Period applicable to such Note shall be included, and the date of payment of such Note, Note or the expiration date of an Interest Period applicable to such Note shall be excluded; provided, if a Note is repaid on the same day on which it is made, one (1) day’s interest shall be paid on that Note. (ec) Except as otherwise set forth herein, interest on each Note (i) shall accrue on a daily basis and shall be payable in Cash in arrears on each Interest Payment Date with respect to interest accrued (i) on and to each such Interest Payment Date; (ii) shall accrue on a daily basis and shall be payable in arrears upon any prepayment of that Note, whether voluntary or mandatory, to the extent accrued on the amount being prepaid; and (iii) shall accrue on a daily basis and shall be payable in arrears at maturity of the Notes, including final maturity of the Notesmaturity.