Interest on Note. (a) Company shall pay interest to Purchaser, ---------------- semi-annually in arrears on the last day of each July and January, commencing on January 31, 2000 (each, an "Interest Payment Date"), at a rate equal to 6.30% per annum, based on a year of 360 days for the actual number of days elapsed, and based on the amounts outstanding from time to time under the Note.
Interest on Note. (a) In the case of a Eurodollar Loan, interest shall be payable at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 360 days) equal to the LIBO Rate plus the Applicable Margin. Interest shall be payable on each Eurodollar Loan on each applicable Interest Payment Date, at maturity and on the date of a conversion of such Eurodollar Loan to an Alternate Base Rate Loan. The Lender shall determine the applicable LIBO Rate for each Interest Period as soon as practicable on the date when such determination is to be made in respect of such Interest Period and shall notify the Borrower of the applicable interest rate so determined. Such determination shall be conclusive absent manifest error.
Interest on Note. The Borrower hereby agrees to pay interest on the Unpaid Principal Balance of the Note for the period commencing on the date of this Agreement until the Unpaid Principal Balance of the Note is paid in full, as follows:
Interest on Note. The Note is non-interest bearing. To the extent that interest is imputed by the Internal Revenue Service, Maker shall be liable for payment of such imputed interest at the Maturity Date.
Interest on Note. The Co-Borrowers hereby agree to pay interest on the unpaid principal amount of each Note for the period commencing on the date of this Agreement until the unpaid principal amount thereof is paid in full, in accordance with the following:
Interest on Note. Subject to Section 5.2, interest shall accrue on the Principal Amount of the Note, from day to day, before as well as after maturity, before as well as after default and before as well as after judgement, at a rate of 8.00% per annum, commencing on the Issue Date, and payable in cash, on the Maturity Date.
Interest on Note. Subject to Section 5.2, interest shall accrue on the Principal Amount of the Notes, beginning on the Effective Date, from day to day, before as well as after maturity, before as well as after default and before as well as after judgement, at a rate of 8.00 % per annum, payable, in cash, quarterly in arrears in equal instalments on the first Business Day after the end of each calendar quarter (each, an “Interest Payment Date”) commencing on the Effective Date and until the Maturity Date. If the Company fails to make any payment of Principal Amount or interest required to be made hereunder, on the day on which the same is due and payable, the Company will pay interest on the amount or amounts so required to have been paid at the rate of interest as aforesaid calculated and payable from the date of such failure until the date of payment.
Interest on Note. The Note shall constitute a cash flow obligation only and interest shall be payable from time to time only from, and in amounts equal to, all cash distributions on the Executive Securities (other than distributions that constitute cash payments of principal on the Executive Securities or cash redemptions of the Stated Value of Executive Securities that constitute partnership units of Pride) net of the amount of federal income taxes, if any, payable by the Executive with respect to the applicable cash distribution (such net amount being referred to as an "Interest Payment"). All Interest Payments shall be the property of Varde and shall be applied to the payment of interest on the Note upon receipt by Varde. Notwithstanding the foregoing provisions of this Section 1.4, if the amount of interest payable under the Note on any interest payment date in respect of the immediately preceding interest computation period would, if based solely upon the provisions of this Section 1.4, exceed the maximum amount allowed by law, the amount of interest payable on such interest payment date shall be automatically reduced to the maximum amount allowed by law. If the amount of interest payable under the Note in respect of any interest computation period is reduced based upon the Maximum Rate (as hereinafter defined) or the maximum amount of interest allowed by law and the amount of interest payable under the Note in respect of any subsequent interest computation period would be less than the maximum amount allowed by law, then the amount of interest payable under the Note in respect of such subsequent interest computation period shall be automatically increased to such maximum amount allowed by law, until such time as the interest that would have been payable under the immediately preceding sentence is fully paid.
Interest on Note. (a) The Base Rate Obligation shall bear interest for the period commencing with the Reference Date thereof and ending on the date on which such Base Rate Obligation is converted to a LIBOR Rate Obligation at the rate of one percent (1.0%) per annum above the Base Rate.
Interest on Note. (a) Company shall pay interest to Purchaser, quarterly in arrears on the last day of each March, June, September and December, commencing on June 30, 1999 (each, an "Interest Payment Date"), at a rate equal to 12% per annum, based on a year of 360 days for the actual number of days elapsed, and based on the amounts outstanding from time to time under the Note; PROVIDED, HOWEVER, that if Company shall not have consummated a Qualified IPO on or prior to July 8, 2000, such rate shall be increased to 15% per annum effective as of such date.
