Common use of Initial Rate Clause in Contracts

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. The Reference Rate as of the date of this Agreement is eight and one half percent (8.50%) 8.5% 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%) 12.0% 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. The Reference Rate as of the date of this Agreement is eight and one half one-quarter percent (8.508.25%) per annum, and, therefore, the effective rate of interest hereunder as of the date of this Agreement is thirteen fourteen and one half one-quarter percent (13.5014.25%) 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. The Reference Rate as of the date of this Agreement is eight and one one-half percent (8.50%) per annum, and, therefore, the effective rate of interest hereunder as of the date of this Agreement Agreement, expressed in simple interest terms, is thirteen and one half nine percent (13.509.00%) 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. The Reference Rate as of the date of this Agreement is eight and one one-half percent (8.508.5%) per annum, and, therefore, the effective rate of interest hereunder as of the date of this Agreement is thirteen eleven and one one-half percent (13.5011.5%) 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.