Interest and Payment. 1.1. The principal amount of this Note outstanding from time to time shall bear simple interest at the annual rate (the "Note Rate") of twelve percent (12%) from the date hereof through the earliest to occur of (i) the Maturity Date; (ii) the Prepayment Date; (iii) the Acceleration Date; and (iv) the Financing Date.
Interest and Payment. 1.1. The unpaid principal amount hereof shall bear simple interest from the date hereof at the rate of 15% per annum until the Maturity Date (or until any such earlier date of payment if this Note is prepaid as hereinafter provided).
Interest and Payment. 1.1 Interest shall be computed on the basis of the actual number of days elapsed in the period during which interest accrues and a year of 365 days.
Interest and Payment. (a) Interest shall accrue on the principal amount hereof at an annual rate of ten percent (10%), compounded annually, and shall be payable in cash on each March 31, June 30, September 30 and December 31 prior to the payment in full of all unpaid principal and accrued and unpaid interest thereon. All accrued and unpaid interest, together with all unpaid principal, if not sooner paid, shall be due and payable on the earliest of (i) the ninth anniversary of the date first above written; (ii) if the Borrower's employment with CBRE is terminated (x) 30 days following the date of such termination of employment if the Borrower's employment was terminated for any reason not described in clause (y), or (y) 180 days following the date of such termination of employment if the Borrower's employment was terminated by CBRE without Cause, by the Borrower for Good Reason or as a result of the Borrower's death or disability, provided, however, that if the Borrower timely delivers a Sale -------- ------- Notice pursuant to Section 2.9 of the Agreement and CBRE fails to purchase the Note Repayment Shares on the Note Repayment Date pursuant to Section 2.9 of the Agreement, the periods set forth in the preceding clauses (x) and (y), solely with respect to that portion of the Loan then due and payable that otherwise would be repaid by the Borrower with the proceeds from the purchase of the Note Repayment Shares, shall be extended until such time as CBRE shall have performed such obligation in full; (iii) the acceleration of the maturity of the Loan (as provided herein); and (iv) the Borrower's receipt of any proceeds (in cash or in kind) upon the sale, exchange or other disposition of the Equity Interest subject to the Pledge Agreement securing Borrower's obligations under this Note; provided that in the case of an event described in this clause (iv), the amount -------- of unpaid principal and accrued and unpaid interest of the Loan which shall become due and payable as a result of such event shall be limited to the Net Proceeds received by the Borrower in connection with such sale, exchange or disposition. Any overdue amount shall bear interest at the rate of twelve percent 12% per annum, compounded annually.
Interest and Payment. Interest will accrue on the unpaid Principal balance of this Note at the rate of EIGHTEEN PERCENT (18%). Interest shall accrue using an Actual/365 days counting method. No minimum payments shall be required until the Maker receives revenue from the operation of a cultivation center for medicinal cannabis located in Anna, IL. Once payment of Principal and Interest becomes due, the amount of the monthly installments shall be calculated by adding the Principal and accrued interest and dividing by the number of calendar months existing between the month in which WGP first received revenue from operation of the Facility, inclusive, and the Maturity Date, inclusive. Notwithstanding the foregoing, all amounts of the principal balance, plus any remaining accrued Interest and fees, charges and expenses will be paid in full at the Maturity Date. All obligations owing hereunder may be prepaid in whole or in part by Maker without penalty.
Interest and Payment. This Note is one of a series of substantially identical notes (the “Bridge Notes”) first issued on December 23, 2005 in connection with a financing of the Company. This Note shall bear interest from the date of this Note on the unpaid principal balance at a rate equal to ten percent (10%) per annum (the “Interest Rate”), computed on the basis of the actual number of days elapsed and a year of 365 days. Interest on the unpaid principal balance of this Note shall be due and payable on the outstanding balance at the time of any payment of principal. In addition, the Company agrees to pay the additional interest specified in Section 5 upon the occurrence and during the continuation of any Event of Default. Payment of the principal and interest on this Note shall be made in lawful money of the United States of America at the Holder’s address set forth in Section 13 below.
Interest and Payment. This Note shall bear interest on the unpaid principal balance hereof at a rate of ten percent (10%) per annum (the "Interest Rate"), compounded monthly on the first day of each month. Interest shall be calculated on the basis of a 360 day year and charged for the actual number of days elapsed. Interest on the unpaid principal balance of this Note shall be due and payable on the Maturity Date or at the time of any prepayment permitted hereunder. Payment of the principal of, and interest on, this Note shall be made in cash, in lawful money of the United States of America, at such address as Holder shall designate; provided that if no later than the Maturity Date or five (5) days prior to any prepayment permitted hereunder, as applicable, Debtor and Holder have agreed upon the value of options to purchase shares of Debtor's common stock (the "Interest Options") or a procedure for valuing the Interest Options, then Holder may elect (in lieu of cash) to receive payment of the principal of, or interest on, this Note (or both) in Interest Options.
Interest and Payment. Section 1.1. Payment of the full amount of principal will be due and payable on the Maturity Date unless this Note is redeemed or converted or otherwise becomes due on an earlier date in accordance with the terms hereof. 2 Section 1.2. The unpaid principal amount of this Note outstanding from time to time shall bear simple interest from, but not including, the date hereof until the Maturity Date at the rate of 8% per annum.
Interest and Payment. I.A.1.1. This Note shall bear interest on the principal amount thereof outstanding from time to time at the rate of 20% per annum. Commencing April 1, 2004, Xxxxx shall make interest only payments in cash equal to eight percent per annum on the outstanding balance. Commencing April 1, 2004, in lieu of payment of the additional 12% per annum interest that would otherwise be paid on the interest payment date, Company shall increase the principal balance due hereunder by an amount equal to the amount of such cash that would otherwise have been paid to Xxxxxx. The interest shall payable quarterly in arrears commencing April 1, 2004 and each quarter thereafter (each, an Interest Payment Date”), and on the Maturity Date together with the principal amount of this Note at the time outstanding. Interest shall be computed on the basis of a 360-day year of twelve 30-day months, for the actual number of days elapsed. Notwithstanding anything to the contrary contained in this Note, the Company shall not be obligated to pay, and the Holder shall not be entitled to charge, collect or receive interest in excess of the maximum rate allowed by applicable law. If during any period of time the interest rate specified herein exceeds such maximum rate, then, any amounts of interest collected by the Holder in excess of such maximum rate shall be applied to the reduction of the unpaid principal amount of this Note.
Interest and Payment. Borrower promises to pay interest from and including the date hereof until paid on the unpaid principal balance hereof at the rate of 4.34% per annum as of the date hereof. Interest shall be computed on the basis of a 360-day year. All payments specified herein shall be deemed made when actually received by Holder. This note may be prepaid, in whole or in part, without penalty to the Borrower. A partial prepayment shall not excuse Borrower from making the full payment required herein nor lessen the amount of such payment. Payments shall be in lawful money of the United States of America, and when received by Holder shall be applied first to all amounts due hereunder other than principal or interest, second to accrued interest, third upon the portion of the principal balance then due, if any, and fourth as a principal prepayment.
