Common use of Note Rate Clause in Contracts

Note Rate. Interest shall accrue on the Outstanding Principal Sum of this Note from January 1, 2022 to the date such Outstanding Principal Sum is paid in full, at the rate of five percent (5%) per annum (referred to herein as the “Note Rate”).

Appears in 1 contract

Sources: Senior Promissory Note (Laredo Oil, Inc.)

Note Rate. Interest shall accrue on the Outstanding Principal Sum of this Note from January 1, 2022 the date on which the Outstanding Principal Sum hereunder or portion thereof is funded by Lender to the date such Outstanding Principal Sum is paid in full, at the rate of five six percent (56%) per annum (referred to herein as the "Note Rate").

Appears in 1 contract

Sources: Loan Agreement (Laredo Oil, Inc.)

Note Rate. Interest shall accrue on the Outstanding Principal Sum of this Note from January 1, 2022 the date on which the Outstanding Principal Sum hereunder or portion thereof is funded by Lender to the date such Outstanding Principal Sum is paid in full, at the rate of five six percent (56%) per annum (referred to herein as the “Note Rate”).

Appears in 1 contract

Sources: Loan Agreement (Laredo Oil, Inc.)