Interest Rate and Payments. (a) The balance of principal outstanding from time to time under this Note shall bear interest at the rate of seven and sixty-three one- hundredths percent (7.63%) per annum (the "Original Interest Rate"), computed on the basis of a three hundred sixty (360) day year for the actual number of days elapsed.
Interest Rate and Payments. (a) Unless an Event of Default shall have occurred and be continuing, the Loan shall bear interest on the outstanding principal amount thereof until paid in full, at a rate per annum equal to Twelve Percent (12%) (the "Interest Rate").
Interest Rate and Payments. Subject to Sections 5.3 and 6.7 hereof, interest payable on this Note shall accrue at a rate per annum equal to the "prime rate" published in The Wall Street Journal from time to time, plus five (5%) (the "Contract Rate"). The Prime Rate shall be increased or decreased as the case may be for each increase or decrease in the Prime Rate in an amount equal to such increase or decrease in the Prime Rate; each change to be effective as of the day of the change in such rate in accordance with the terms of the Security Agreement. Subject to the immediately following sentence, the Contract Rate shall not be less than nine percent (9%). The Contract Rate shall be adjusted as follows: if (i) the Company shall have registered the shares of the Company's common stock underlying the conversion of this Note and that certain warrant issued to Holder of even date herewith on a registration statement declared effective by the Securities Exchange Commission, and (ii) the volume weighted average price of the Common Stock as reported by Bloomberg, L.P. on the principal market for any of the ten (10) trading days immediately preceding a Interest Payment Date (defined below) exceeds the then applicable Fixed Conversion Price by twenty five percent (25%), the Contract Rate for the succeeding calendar month shall automatically be reduced by twenty five basis points (25 b.p.) for such period. In no event shall the Contract Rate be less than 0.00%. Interest shall be payable monthly in arrears commencing on May 1, 2004 and on the first day of each consecutive calendar month thereafter, (each, an "Interest Payment Date").
Interest Rate and Payments. (a) The balance of principal outstanding from time to time under this Note shall bear interest at the rate of five and seventy-six hundredths percent (5.76%) per annum (the “Original Interest Rate”), computed on the basis of a three hundred sixty (360) day year composed of twelve (12) months of thirty (30) days each; however, interest for partial months shall be calculated by multiplying the principal balance of this Note by the applicable interest rate (i.e., the Original Interest Rate or the New Rate (hereinafter defined)), dividing the product by three hundred sixty (360), and multiplying that result by the actual number of days elapsed.
Interest Rate and Payments. Subject to Sections 5.3 and 6.7 hereof, interest payable on this Note shall accrue at a rate per annum equal to the "PRIME RATE" published in THE WALL STREET JOURNAL from time to time, plus three percent (3%) (the "CONTRACT RATE"). The Prime Rate shall be increased or decreased as the case may be for each increase or decrease in the Prime Rate in an amount equal to such increase or decrease in the Prime Rate; each change to be effective as of the day of the change in such rate in accordance with the terms of the Security Agreement. Subject to the immediately following sentence, the Contract Rate shall not be less than seven percent (7%). The Contract Rate shall be adjusted as follows: if (i) the Company shall have registered the shares of the Company's common stock underlying the conversion of this Note and that certain warrant issued to Holder of even date herewith on a registration statement declared effective by the Securities Exchange Commission, and (ii) the volume weighted average price of the Common Stock as reported by Bloomberg, L.P. on the principal market for the Common Stock for any of the ten (10) trading days immediately preceding an Interest Payment Date (defined below) exceeds the then applicable Fixed Conversion Price (as hereinafter defined) by twenty five percent (25%), the Contract Rate for the succeeding calendar month shall automatically be reduced by twenty five basis points (25 b.p.) for such period PROVIDED, HOWEVER, that in no event will the Contract Rate hereunder be reduced to less than 0.00%.. Interest shall be payable monthly in arrears commencing on December 1, 2003 and on the first day of each consecutive calendar month thereafter, (each, an "INTEREST PAYMENT DATE").
Interest Rate and Payments. A. During the initial term (the “Initial Term”):
Interest Rate and Payments. Subject to Sections 4.1 and 5.7 hereof, interest payable on this Note shall accrue at a rate per annum equal to the Contract Rate, and shall be payable monthly in arrears commencing on June 1, 2004 and on the first day of each consecutive calendar month thereafter (each, an "INTEREST PAYMENT DATE").
Interest Rate and Payments. (a) Interest on the outstanding principal amount of the Loan shall accrue at the rate of one percent (1.0%) per annum, non-compounding, commencing on the Effective Date, and shall be payable in arrears on a monthly basis commencing on the first day after the first calendar month following the Effective Date and continuing on the first day of each calendar month thereafter until the Maturity Date.
Interest Rate and Payments. Company further promises to pay interest on the outstanding principal amount of this Note from the date hereof until payment in full at an interest rate equal to eight percent (8%) per annum, compounded quarterly, and such interest shall be payable in full on the date that the principal amount hereof is required to be paid hereunder. All computations of interest shall be made by Seller on the basis of a year of 360 days based upon the actual number of days elapsed. Notwithstanding the foregoing, all interest payments and late charges in respect of this Note shall be subject to Section 8 of the Contribution Agreement, the Subordination Agreement, and subject to the provisions hereunder.
Interest Rate and Payments. Interest on Competitive Bid Loans shall accrue at the rate (or rates) set forth in the Competitive Bid Notes. Interest on Competitive Bid Loans shall be payable on the first day of each month in arrears. The outstanding principal balance of Competitive Bid Loans, together with all accrued and unpaid interest thereon, shall be due and payable in full on the date specified in the Competitive Bid Note.
