Maturity Date Uses in Base Interest Rate Clause

Base Interest Rate

THIS NOTE HAS BEEN ACQUIRED FOR INVESTMENT PURPOSES ONLY AND MAY NOT BE TRANSFERRED UNTIL (i) A REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE ACT) SHALL HAVE BECOME EFFECTIVE WITH RESPECT THERETO OR (ii) RECEIPT BY THE COMPANY OF AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY TO THE EFFECT THAT REGISTRATION UNDER THE ACT IS NOT REQUIRED IN CONNECTION WITH SUCH PROPOSED TRANSFER NOR IS IN VIOLATION OF ANY APPLICABLE STATE SECURITIES LAWS. THIS LEGEND SHALL BE ENDORSED UPON ANY NOTE ISSUED IN EXCHANGE FOR THIS NOTE.

Base Interest Rate. Subject to Section 2(b) and Section 2(c) below, the outstanding Principal Amount shall bear interest at the rate of 6.0% per annum calculated on the basis of a year of three hundred sixty (360) days.

Base Interest Rate

THIS NOTE HAS BEEN ACQUIRED FOR INVESTMENT PURPOSES ONLY AND MAY NOT BE TRANSFERRED UNTIL (i) A REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT") SHALL HAVE BECOME EFFECTIVE WITH RESPECT THERETO OR (ii) RECEIPT BY THE COMPANY OF AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY TO THE EFFECT THAT REGISTRATION UNDER THE ACT IS NOT REQUIRED IN CONNECTION WITH SUCH PROPOSED TRANSFER NOR IS IN VIOLATION OF ANY APPLICABLE STATE SECURITIES LAWS.

Base Interest Rate. Subject to subsection 3B, the outstanding Principal Amount shall bear interest at the rate of fifteen percent (15%) per annum, provided that in no event shall the interest rate exceed the Maximum Rate provided in Section 3B below. Accrued interest will be due and payable on the Maturity Date. Interest shall be based on a 360 day year.

Base Interest Rate

THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, NOR UNDER ANY STATE SECURITIES LAW AND MAY NOT BE PLEDGED, SOLD, ASSIGNED OR TRANSFERRED UNLESS (I) A REGISTRATION STATEMENT WITH RESPECT THERETO IS EFFECTIVE UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), AND ANY APPLICABLE STATE SECURITIES LAW REQUIREMENTS HAVE BEEN MET OR (II) EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS UNDER THE SECURITIES ACT AND THE REGISTRATION OR QUALIFICATION REQUIREMENTS OF APPLICABLE STATE SECURITIES LAWS ARE AVAILABLE.

Base Interest Rate. Subject to subsections 2(b) and 2(c) below, the outstanding Principal Amount shall bear interest at the rate of eight percent (8%) per annum, commencing on the date hereof (the "Interest"). All computations of Interest hereunder shall be made based on the actual number of days elapsed in a year of 365 days (including the first day but excluding the last day during which any such Principal Amount is outstanding). The Principal Amount of this Note, together with any accrued and unpaid Interest, shall be payable on the Maturity Date.

Base Interest Rate

THIS DEBENTURE HAS BEEN ACQUIRED FOR INVESTMENT PURPOSES ONLY AND MAY NOT BE TRANSFERRED UNTIL (i) A REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT") SHALL HAVE BECOME EFFECTIVE WITH RESPECT THERETO OR (ii) RECEIPT BY THE COMPANY OF AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY TO THE EFFECT THAT REGISTRATION UNDER THE ACT IS NOT REQUIRED IN CONNECTION WITH SUCH PROPOSED TRANSFER NOR IS IN VIOLATION OF ANY APPLICABLE STATE SECURITIES LAWS. THIS LEGEND SHALL BE ENDORSED UPON ANY DEBENTURE OR ANY SECURITIES ISSUED IN EXCHANGE OR AS REPAYMENT FOR THIS DEBENTURE.

Base Interest Rate. Subject to subsections 2B and 2C below, the outstanding Principal Amount shall bear interest at the rate of 4% per annum from the date hereof until the Maturity Date. Accrued interest will be due and payable in cash on June 30, 2007 and December 31, 2007 with the balance payable on the Maturity Date. Interest shall be based on a 360 day year.

Base Interest Rate from Grid Note

FOR VALUE RECEIVED, Inncardio, Inc., a Utah corporation (the "Company"), with its principal executive office 712 Fifth Avenue, New York, NY, 10019, promises to pay to the order of Bioaccelerate, Inc, a Delaware Corporation with offices at 712 Fifth Avenue, New York, NY, 10019 (together with any permitted registered assigns, the "Payee") the principal sum of $12,000,000 or, if less, the aggregate unpaid principal amount of all Tranches made to the Company by Payee (the "Principal Amount") pursuant to the letter agreement, dated as of even date herewith, between the Company and the Payee (the "Letter Agreement"), on the Maturity Date. Capitalized terms used, and not defined, herein shall have the meanings ascribed thereto in the Letter Agreement.

Base Interest Rate. Subject to subsections 4B and 4C below, the outstanding Principal Amount shall bear interest per annum at the Applicable Federal Rate (the "Base Interest Rate"), as defined in Section 1274(d) of the Internal Revenue Code of 1986, as amended (the "Code"), payable on the Maturity Date.