Initial Rate. The unpaid principal balance of this Note from day to day outstanding shall initially bear interest at a rate of ten percent (10.00%) per annum.
Initial Rate. The Reference Rate as of the date of this Agreement is eight and one half percent (8.50%) per annum, and, therefore, the effective rate of interest hereunder as of the date of this Agreement is thirteen and one half percent (13.50%) per annum. The interest rate payable by Borrower under the terms of this Agreement shall be adjusted in accordance with any change in the Reference Rate from time to time on the date of any such change. All interest payable by Borrower shall be due and payable on the first day of each calendar month during the term of this Agreement.
Initial Rate. Interest will be charged on the entire unpaid principal balance of this Note, including payments not made when due and any other sums owing hereunder. Interest charged hereunder, including any acceleration interest rate, all late charges, default interest and other charges, and all other amounts charged hereunder, shall not be limited by the laws of any state, including any state laws relating to a legal rate or other interest rate, but shall be governed solely by applicable federal laws. Interest will be calculated on the basis of a 365-day year and the actual number of days in each month. Interest charges will begin on the date Lender disburses principal and continue until the Indebtedness is paid in full with interest. The initial interest rate in effect on this date is 2.89% per annum. The interest rate that Borrower will pay will change in accordance with 3.2-3.6 below.
Initial Rate. For the transportation and dehydration of each MCF of Shipper's Carbon Dioxide received at the Receipt Points during any month, beginning with the date of first deliveries hereunder and continuing through the end of the first Contract Year, Shipper shall pay Transporter a transportation fee (the "Transportation Fee"), which fee shall initially be $0.16 (the "initial rate").
Initial Rate. Interest shall accrue on the principal amount outstanding from time to time after the Closing Date until the Maturity Date at the Interest Rate.
Initial Rate. In addition- to Tenant’s obligation to pay Basic Rent for the Original Premises, Tenant shall pay Basic Rent for the Expansion Space as follows: Lease Year* Annual Rate Per Square Foot (subject to adjustment as provided below) Annual Base Rent Monthly Base Rent Lease Year 1 $ 18.00 $ 270,000.00 ** $ 22,500.00 Lease Year 2 $ 18.00 $ 306,000.00 *** $ 25,500.00 Lease Year 3-5 $ 19.00 $ 378,100.00 **** $ 31,508.33 Lease Year 6-8 $ 20.00 $ 398,000.00 **** $ 33,166.67 *For purposes hereof, an “Lease Year” shall mean a 12 month period beginning on the Expansion Effective Date, or any anniversary of the Expansion Effective Date, except that if the Expansion Effective Date does not fall on the first day of a calendar month, then the first Lease Year shall begin on the Expansion Effective Date, and end on the last day of the month containing the first anniversary of the Expansion Effective Date (and the Basic Rent for such first Lease Year shall be prorated to reflect the additional days included therein), and each succeeding Lease Year shall begin on the day following the last day of the prior Lease Year. **Based on 15,000 square feet ***Based on 17,000 square feet ****Based on 19,900 square feet All such Basic Rent and Additional Rent payable on account of Taxes, Operating Expenses, and utilities shall be payable by Tenant in accordance with the terms of the Lease. Tenant shall have no obligation to pay Basic Rent for the first (1st) full calendar month of Lease Year 1.
Initial Rate. From the Closing Date until the date on which the next Compliance Certificate is delivered hereunder, the Level applicable to the Borrower in the Pricing Table will be determined in accordance with the Compliance Certificate delivered to the Lenders on the Closing Date under Section 2.1(a)(viii).
Initial Rate. Interest shall accrue on the principal amount outstanding from and after the Closing Date until the Maturity Date (but not beyond the Maturity Date) at the Initial Rate. On each Rent Adjustment Date, provided that, as of such date, the Rent Escalation Condition has been met for the just ending Lease Year, the Initial Rate then in effect will be increased by the Initial Rate Increaser Amount. If, as of any Rent Adjustment Date, the Rent Escalation Condition has not been so met for the just ending Lease Year, then the Initial Rate then in effect will not be so increased. However, if the Rent Escalation Condition has not been met as of one or more Rent Adjustment Dates, the Initial Rate for the next Lease Year with respect to which the Rent Escalation Condition is satisfied shall be determined as if the Rent Escalation Condition had been satisfied as of all previous Rent Adjustment Dates and the Initial Rate had escalated pursuant to, and in accordance with, this §2(a) for all prior periods.
Initial Rate. The Bonds shall initially bear interest at the ------------ interest rate determined by the Remarketing Agent on or prior to the date of initial issuance and delivery of the Bonds.
Initial Rate. The Base Rate, as defined in the Credit Facility Agreement, shall initially be in effect from the Closing Date until a conversion to LIBOR occurs pursuant to the terms of Section 1.3 below.
