Examples of Interest Date in a sentence
Prior to the payment of Interest on an Interest Date, Interest on this Note shall accrue at the Interest Rate and be payable by way of inclusion of the Interest in the Conversion Amount on each Conversion Date in accordance with Section 3(b)(i) or upon any redemption in accordance with Section 11 or any required payment upon any Bankruptcy Event of Default.
Interest shall be paid on such Interest Date in cash; provided, however, that subject to provisions of Section 2(b) this Note, at the option of the Maker, the Maker may, upon not less than five Business Days’ written notice to the Holder prior to the date on which Interest is due, pay such Interest (i) in cash or (ii) in such number of fully paid and non-assessable Ordinary Shares as is determined by at the Interest Conversion Rate.
Interest on this Note shall commence accruing on the Issuance Date and shall be computed on the basis of a 360-day year and twelve 30-day months and shall be payable in arrears on each Interest Date and shall compound on each Interest Date (if unpaid on such Interest Date), and shall be payable in accordance with the terms of this Note.