Repayment Deadline definition
Examples of Repayment Deadline in a sentence
Any amount that remains due and unpaid after the Repayment Deadline accrues interest at the prime rate of interest (published in the northeast edition of The Wall Street Journal) in effect as of the Repayment Deadline, compounded at the end of each calendar quarter, until paid.
Commencing on the first day after Repayment Deadline, the unpaid amount thereof shall bear interest at a per annum rate equal to the Default Rate until paid in full.
For the avoidance of any doubt, the failure of the Borrower to repay the Loan and all accrued interest thereon by the Early Repayment Deadline, without failing to pay any amount required to be paid pursuant to this Agreement until the Early Repayment Deadline, shall not be considered an Event of Default and shall not result in a higher interest rate.
Any amount that remains due and unpaid after the Repayment Deadline accrues at the prime rate of interest (published in the northeast edition of The Wall Street Journal) in effect as of the Repayment Deadline, compounded at the end of each calendar quarter, until paid.
By signing below, Executive hereby consents to the Company deducting (to the extent permitted under Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) the net amount paid to him up to USD $625,000 (after tax withholdings) from any amounts for which Executive otherwise might be eligible to receive from the Company if for any reason Executive does not make full repayment by the Repayment Deadline.
If Executive does not make the required repayment in full by the Repayment Deadline, then the Company may, in its sole discretion, either (a) offset any other amounts payable to Executive by the Company or any of its Affiliates in satisfaction of the repayment or (b) cause Executive to forfeit (or otherwise recoup) any equity interests that the Executive holds in respect of the Company or any of its Affiliates, in each case subject to applicable law.
In the event Borrower does not satisfy either of the conditions set forth in this Section 11 on or before the Advance Repayment Deadline, the portion of the Credit Line allocable to such Advance shall become immediately due and payable.
For purpose of this Agreement, “Additional Warrant Shares Exercise Price” shall equal to the greater of: (i) fifty percent (50%) of the lowest average closing Trading Price of the Borrower’s Ordinary Shares for any ten (10) consecutive Trading Day period from the Closing Date to the Early Repayment Deadline; and (ii) nineteen cents ($0.19); provided, however, that in no event shall the Additional Warrant Shares Exercise Price exceed $0.50 per share (the “Ceiling Price”).
If the Purchase Price shall be repaid by the Company to the Purchaser pursuant to the foregoing sentences in this Section 6.7 but has not been repaid by the Repayment Deadline, the Purchase Price repayable shall bear interest at the rate of the lesser of 24% per annum or the maximum interest rate permitted under applicable law.
No interest will accrue during the period from the Due Date to the payment date, provided, however, if the Company fails to pay all amounts payable on or in respect of the Note or the indebtedness evidenced hereby on or prior to the Repayment Deadline, a late interest shall apply to the outstanding unpaid amount at thirteen percent (13%) per annum, calculated commencing from the day after the Repayment Deadline until the date on which all outstanding amounts are paid in full.