Rate and Payment of Interest. The principal balance of this Debenture shall bear interest at a fixed rate per annum equal to thirteen and one-half percent (13.5%), payable annually in arrears. Interest shall commence to accrue on the date hereof. Interest payments shall be payable in shares of Common Stock of the Company, par value $.0001 per share ("Common Stock"), valued at the Conversion Price as of the due date of the interest payment; provided however, that the Company, at its sole option, may elect to pay any interest payment hereunder in cash, such cash interest payment to be payable no later than ninety (90) days from the original interest payment due date. If this Debenture is prepaid pursuant to the terms of Section 3 hereof, the prepayment sum shall include all unpaid interest accrued through the date of prepayment paid, at the sole option of the Company, either (x) in cash or (y) in shares of Common Stock at the Conversion Price as of the date of prepayment.
Rate and Payment of Interest. This Note shall bear interest on the outstanding principal amount hereof until paid in full at the rate of ten percent (10.0%) per annum, compounded annually. Interest shall accrue until the earlier of the repayment of the outstanding principal sum hereunder in accordance with this Note or the Conversion Date. Upon conversion of this Note pursuant to Section 3 hereof, the accrued and unpaid interest hereon shall not be paid in cash, but shall be converted as provided in Section 3. Interest will be computed on the basis of a year of 365 days for the number of days actually elapsed.
Rate and Payment of Interest. Principal and interest shall be ---------------------------- calculated and payable as set forth in the Loan Agreement. If any payment of principal of, or interest on, this Note shall fall due on a day which is not a Business Day, then such due date shall be extended to the next Business Day and additional interest shall accrue and be payable for the period of such extension.
Rate and Payment of Interest. The outstanding principal balance of this Note shall bear interest at a per annum rate of equal to the Prime Rate and as more specifically described in the Agreement. Interest charges and all other fees and charges herein shall be computed on the basis of a year of 360 days and actual number of days elapsed and shall be payable to Lender in arrears on the first Business Day of each month hereafter at its address set forth above. Accrued but unpaid interest under this Note shall be due and payable on the first Business Day of each month, commencing February 1, 1999 and at maturity, on which date all interest remaining unpaid shall be due and payable. 2.0
Rate and Payment of Interest. The outstanding principal balance of this Note shall bear interest at the Contract Rate. The Contract Rate shall be a per annum rate of one and three quarters percentage points (1.75%) in excess of the Base Rate subject to reduction as set forth in the Schedule to the Agreement. The interest rate chargeable hereunder shall be increased or decreased, as the case may be, without notice or demand of any kind, upon the announcement of any change in the Base Rate. Each change in the Base Rate shall be effective hereunder on the first day following the announcement of such change. Interest charges and all other fees and charges herein shall be computed on the basis of a year of 360 days and actual days elapsed and shall be payable to FINOVA in arrears on the first day of each month hereafter at its address set forth above. Accrued but unpaid interest under this Note shall be due and payable on the first day of each month, commencing December 1, 1996, and at maturity, on which date all interest remaining unpaid shall be due and payable.
Rate and Payment of Interest. The principal balance of this Debenture shall bear interest at a fixed rate per annum equal to thirteen and one-half percent (13.5%), payable annually in arrears. Interest shall commence to accrue on the date hereof. Interest payments shall be payable in shares of Common Stock of the Company, par value $.0001 per share ("Common Stock"), valued at the Conversion Price as of the due date of the interest payment. If this Debenture is prepaid pursuant to the terms of Section 3 hereof, the prepayment sum shall include all unpaid interest accrued through the date of prepayment paid in shares of Common Stock at the Conversion Price as of the date of prepayment. All interest payments hereon shall be payable solely in shares of Common Stock.
Rate and Payment of Interest. This Note shall bear interest on the unpaid principal balance hereof from time to time outstanding at a rate equal to the "Prime Rate" (as hereinafter defined) plus 2.75%, subject to reduction to the Prime Rate plus 2.25% pursuant to the terms and conditions of the Agreement, but in no event shall the interest rate in any month be less than 9% per annum. Interest shall be calculated on the basis of a 360-day year for the actual number of days elapsed. As used herein, the term "
Rate and Payment of Interest. The principal balance of this Note shall bear interest at the applicable rates set forth in, and shall be payable in accordance with the terms of, Section 2.5 of the Loan Agreement.
Rate and Payment of Interest. The outstanding principal balance of this Note shall bear interest at a per annum rate of Base Rate. Interest charges and all other fees and charges herein shall be computed on the basis of a year of 360 days and actual number of days elapsed and shall be payable to Lender in arrears on the first day of each month hereafter at its address set forth above. Accrued but unpaid interest under this Note shall be due and payable on the first day of each month, commencing , 1998, and at maturity, on which date all interest remaining ------ unpaid shall be due and payable.
Rate and Payment of Interest. Interest shall be computed on the basis of a 360-day year for the actual number of days elapsed, and shall be at the rate of one and three-quarters (1.75) percentage points above the Prime Rate (as hereinafter defined), computed on the basis of a 360-day year; provided, however, upon the occurrence and during the continuance of an Event of Default (as hereinafter defined), interest shall accrue on the outstanding principal balance of this Note at a default rate (the "Default Rate") of three and three-quarters (3.75) percentage points above the Prime Rate, and shall be payable on demand. "
