Interest Rates and Interest Payments. The Company covenants and agrees to make payments to the Purchasers of accrued interest on the Notes on December 31, 2005. The Notes will bear interest on the outstanding principal amount thereof at a fixed rate equal to 6% per annum. Interest on the Notes will be computed on the basis of a year of 360 days, composed of 12, 30-day months, and the actual number of days elapsed.
Interest Rates and Interest Payments. (a) So long as no Event of Default has occurred and is continuing, each Base Rate Loan shall bear interest on the outstanding principal amount thereof for each day until paid at an annual rate equal to the Adjusted Base Rate. So long as any Event of Default has occurred and is continuing, each Base Rate Loan shall bear interest on the outstanding principal amount thereof for each until it is paid, at an annual rate equal to Five Percent (5%) over and above the Adjusted Base Rate. Such interest shall be payable monthly in arrears on the last day of each calendar month commencing October 31, 2009 and at the maturity of the Note (whether by reason of acceleration or otherwise). From and after the maturity of the Note, whether by reason of acceleration or otherwise, each Base Rate Loan shall bear interest, payable on demand, for each day until paid at an annual rate equal to Five Percent (5%) over and above the Adjusted Base Rate.
Interest Rates and Interest Payments. (a) So long as no Event of Default has occurred and is continuing, each Daily Reset Loan shall bear interest on the outstanding principal amount thereof for each day until paid at an annual rate equal to the Daily Reset LIBOR Rate. So long as any Event of Default has occurred and is continuing, each Daily Reset Loan shall bear interest on the outstanding principal amount thereof for each until it is paid, at an annual rate equal to Five Percent (5%) over and above the Daily Reset LIBOR Rate. Such interest shall be payable monthly in arrears on the last day of each calendar month commencing October 31, 2010 and at the maturity of the Note (whether by reason of acceleration or otherwise). From and after the maturity of the Note, whether by reason of acceleration or otherwise, each Daily Reset Loan shall bear interest, payable on demand, for each day until paid at an annual rate equal to Five Percent (5%) over and above the Daily Reset LIBOR Rate.
Interest Rates and Interest Payments. Section 2.3 of the Financing Agreement is amended in its entirety as follows:
Interest Rates and Interest Payments. So long as no Event of Default has occurred and is continuing, the Revolving Credit Loan shall bear interest on the outstanding principal amount thereof, for each day from the date such Revolving Credit Loan is made until it becomes due, at the Interest Rate. So long as any Event of Default has occurred and is continuing, the Revolving Credit Loan shall bear interest on the outstanding principal amount thereof, at a per annum rate equal to the Prime Rate plus five percent (5%). Such interest shall be payable monthly in arrears on the thirtieth (30th) day of each month, commencing on the later of April 30, 2004, and at the maturity of the Note (whether by reason of acceleration or otherwise). From and after the maturity of the Note, whether by reason of acceleration or otherwise, the Revolving Credit Loan shall bear interest, payable on demand, for each day until paid at a rate per annum equal to the Prime Rate plus five percent (5%). Interest shall be computed on the basis of a year of 360 days and paid for the actual number of days elapsed.
Interest Rates and Interest Payments. (a) The Notes will accrue interest on the outstanding principal amount thereof at a rate equal to fourteen percent (14.00%) per annum. Interest shall be computed for the actual number of days elapsed on the basis of a year of three hundred sixty (360) days, composed of twelve thirty (30) day months. Interest shall be payable from time to time in cash, as provided below.
Interest Rates and Interest Payments. (a) So long as no ------------------------------------ Event of Default has occurred and is continuing, each Prime Loan shall bear interest on the outstanding principal amount thereof for each day until paid at a rate per annum equal to the Prime Rate. So long as any Event of Default has occurred and is continuing, each Prime Loan shall bear interest on the outstanding principal amount thereof for each until it is paid, at a rate per annum equal to Five Percent (5%) over and above the Prime Rate. Such interest shall be payable monthly in arrears on the last day of each calendar month commencing June 30, 2002 and at the maturity of the Note (whether by reason of acceleration or otherwise). From and after the maturity of the Note, whether by reason of acceleration or otherwise, each Prime Loan shall bear interest, payable on demand, for each day until paid at a rate per annum equal to Five Percent (5%) over and above the Prime Rate.
Interest Rates and Interest Payments. Interest shall accrue on the unpaid balance of the Obligations at a floating rate per annum equal to the sum of the Reference Rate plus three percent (3%) (the "Applicable Rate") and shall be due and payable monthly in arrears on the last day of each calendar month; provided, however, that upon the occurrence and during the continuance of any Event of Default, the unpaid balance of the loans and advances shall thereafter bear interest at a floating rate equal to the sum of (a) the Applicable Rate, plus (b) 2% and shall be due and payable on demand; and provided further that the minimum amount of interest due and payable in any month shall not be less than the sum of $1,000,000 multiplied by the Applicable Rate during such period.
Interest Rates and Interest Payments. Interest on the Notes shall accrue on the outstanding principal amount at the applicable interest rate and compound annually. Interest on the Notes will be computed on the basis of a year of 365 days, for the number of actual days elapsed during which principal is outstanding.
Interest Rates and Interest Payments. Section 3.1 of the Agreement is hereby modified and amended by deleting it in its entirety and inserting in its place the following:
