Common use of Repayment of Principal and Interest Clause in Contracts

Repayment of Principal and Interest. Except as otherwise provided in Section 11, the Company will repay the outstanding principal amount and interest of this Note within 14 Business Days of the Offering Funding Date (the “Maturity Date”). Interest will accrue on the unpaid principal amount of this Note through the Maturity Date at the rate of 1.96% per annum (as of March 2018) (or such higher rate equal to the related short-term Applicable Federal Rate (as defined in the Internal Revenue Code)). Simple Interest shall be calculated on the basis of a 365-day year. At the option of the Lender, funds available for repayment of the loan may be held in a Company account, interest free, after the Maturity Date. Such fund shall not be used or otherwise pledged until such time as the Company and Lender have entered into another note.

Appears in 2 contracts

Samples: RSE Collection, LLC, RSE Collection, LLC

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Repayment of Principal and Interest. Except as otherwise provided in Section 11, the Company will repay the outstanding principal amount and interest of this Note within 14 Business Days of the Offering Funding Date (the “Maturity Date”). Interest will accrue on the unpaid principal amount of this Note through the Maturity Date at the rate of 1.961.18% per annum (as of March 2018July 2017) (or such higher rate equal to the related short-term Applicable Federal Rate (as defined in the Internal Revenue Code)). Simple Interest shall be calculated on the basis of a 365-day year. At the option of the Lender, funds available for repayment of the loan may be held in a Company account, interest free, after the Maturity Date. Such fund shall not be used or otherwise pledged until such time as the Company and Lender have entered into another note.

Appears in 1 contract

Samples: RSE Collection, LLC

Repayment of Principal and Interest. Except as otherwise provided in Section 11, the Company will repay the outstanding principal amount and interest of this Note within 14 Business Days of the Offering Funding Date (the “Maturity Date”). Interest will accrue on the unpaid principal amount of this Note through the Maturity Date at the rate of 1.961.81% per annum (as of March February 2018) (or such higher rate equal to the related short-term Applicable Federal Rate (as defined in the Internal Revenue Code)). Simple Interest shall be calculated on the basis of a 365-day year. At the option of the Lender, funds available for repayment of the loan may be held in a Company account, interest free, after the Maturity Date. Such fund shall not be used or otherwise pledged until such time as the Company and Lender have entered into another note.

Appears in 1 contract

Samples: RSE Collection, LLC

Repayment of Principal and Interest. Except as otherwise provided in Section 11, the Company will repay the outstanding principal amount and interest of this Note within 14 Business Days of the Offering Funding Date (the “Maturity Date”). Interest will accrue on the unpaid principal amount of this Note through the Maturity Date at the rate of 1.960.66% per annum (as of March 2018October 2016) (or such higher rate equal to the related short-term Applicable Federal Rate (as defined in the Internal Revenue Code)). Simple Interest shall be calculated on the basis of a 365-day year. At the option of the Lender, funds available for repayment of the loan may be held in a Company account, interest free, after the Maturity Date. Such fund shall not be used or otherwise pledged until such time as the Company and Lender have entered into another note.

Appears in 1 contract

Samples: RSE Collection, LLC

Repayment of Principal and Interest. Except as otherwise provided in Section 11, the Company will repay the outstanding principal amount and interest of this Note within 14 Business Days of the Offering Funding Date (the “Maturity Date”). Interest will accrue on the unpaid principal amount of this Note through the Maturity Date at the rate of 1.960.68% per annum (as of March 2018November 2016) (or such higher rate equal to the related short-term Applicable Federal Rate (as defined in the Internal Revenue Code)). Simple Interest shall be calculated on the basis of a 365-day year. At the option of the Lender, funds available for repayment of the loan may be held in a Company account, interest free, after the Maturity Date. Such fund shall not be used or otherwise pledged until such time as the Company and Lender have entered into another note.

Appears in 1 contract

Samples: RSE Collection, LLC

Repayment of Principal and Interest. Except as otherwise provided in Section 11, the Company will repay the outstanding principal amount and interest of this Note within 14 Business Days of the Offering Funding Date (the “Maturity Date”). Interest will accrue on the unpaid principal amount of this Note through the Maturity Date at the rate of 1.962.34% per annum (as of March June 2018) (or such higher rate equal to the related short-term Applicable Federal Rate (as defined in the Internal Revenue Code)). Simple Interest shall be calculated on the basis of a 365-day year. At the option of the Lender, funds available for repayment of the loan may be held in a Company account, interest free, after the Maturity Date. Such fund shall not be used or otherwise pledged until such time as the Company and Lender have entered into another note.

Appears in 1 contract

Samples: RSE Collection, LLC

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Repayment of Principal and Interest. Except as otherwise provided in Section 11, the Company will repay the outstanding principal amount and interest of this Note within 14 Business Days of the Offering Funding Date (the “Maturity Date”). Interest will accrue on the unpaid principal amount of this Note through the Maturity Date at the rate of 1.962.55% per annum (as of March October 2018) (or such higher rate equal to the related short-term Applicable Federal Rate (as defined in the Internal Revenue Code)). Simple Interest shall be calculated on the basis of a 365-day year. At the option of the Lender, funds available for repayment of the loan may be held in a Company account, interest free, after the Maturity Date. Such fund shall not be used or otherwise pledged until such time as the Company and Lender have entered into another note.

Appears in 1 contract

Samples: RSE Collection, LLC

Repayment of Principal and Interest. Except as otherwise provided in Section 11, the Company will repay the outstanding principal amount and interest of this Note within 14 Business Days of the Offering Funding Date (the “Maturity Date”). Interest will accrue on the unpaid principal amount of this Note through the Maturity Date at the rate of 1.961.22% per annum (as of March 2018August 2017) (or such higher rate equal to the related short-term Applicable Federal Rate (as defined in the Internal Revenue Code)). Simple Interest shall be calculated on the basis of a 365-day year. At the option of the Lender, funds available for repayment of the loan may be held in a Company account, interest free, after the Maturity Date. Such fund shall not be used or otherwise pledged until such time as the Company and Lender have entered into another note.

Appears in 1 contract

Samples: RSE Collection, LLC

Repayment of Principal and Interest. Except as otherwise provided in Section 11, the Company will repay the outstanding principal amount and interest of this Note within 14 Business Days of the Offering Funding Date (the “Maturity Date”). Interest will accrue on the unpaid principal amount of this Note through the Maturity Date at the rate of 1.962.51% per annum (as of March September 2018) (or such higher rate equal to the related short-term Applicable Federal Rate (as defined in the Internal Revenue Code)). Simple Interest shall be calculated on the basis of a 365-day year. At the option of the Lender, funds available for repayment of the loan may be held in a Company account, interest free, after the Maturity Date. Such fund shall not be used or otherwise pledged until such time as the Company and Lender have entered into another note.

Appears in 1 contract

Samples: RSE Collection, LLC

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