Interest on Advances. Wherever, under the provisions of this Mortgage or by law, Mortgagee is entitled to interest on advances made or expenses incurred, such interest shall be computed at a rate per annum which shall be the interest rate payable under the Note.
Appears in 4 contracts
Samples: Mortgage and Security Agreement (Vicon Industries Inc /Ny/), Mortgage and Security Agreement (Vicon Industries Inc /Ny/), Mortgage and Security Agreement (Essex Hospitality Associates Iv Lp)
Interest on Advances. Wherever, under the provisions of this Mortgage or by law, Mortgagee is entitled to interest on advances made or expenses incurred, such interest shall be computed at a rate per annum which shall be the interest rate payable under Default Rate (as that term is defined in the NoteReimbursement Agreement).
Appears in 1 contract
Samples: Mortgage and Security Agreement (Mechanical Technology Inc)
