Common use of Variable Interest Clause in Contracts

Variable Interest. In the event that the Company's net income for any financial year before the Maturity Date exceeds EUR 2,000,000, the Principal shall accrue an additional variable interest of 2% (the "Variable Interest"), which shall be calculated based on a 360 days’ year and shall be due and payable on the Maturity Date. For the avoidance of doubt, the Variable Interest will amount to 0% in the event that the net income does not exceed EUR 2,000,000. The Variable Interest shall be added to the Principal and the Fixed Interest, and considered for the purposes of capitalizing the Loan, excluding any withholding tax to be applied to the Variable Interest.