Common use of Payments of Interest Clause in Contracts

Payments of Interest. Subject to the terms of the Subordination Agreement, the Company shall pay or cause to be paid to Holder interest on the unpaid principal amount hereof from time to time outstanding at a rate per annum equal to the then current Senior Debt Rate plus two percent (2%) per annum in arrears on the last day of each January, April, July and October commencing on January 31, 2011 and on the Maturity Date until this Note shall be paid in full. Each change in any interest rate provided for in this Note based upon the Senior Debt Rate shall take effect at the time of such change in the Senior Debt Rate. Interest shall be calculated on the basis a 360 day year based on the actual number of days elapsed. As used herein:

Payments of Interest. Subject to the terms of the Subordination Agreement, the Company shall pay or cause to be paid to Holder interest on the unpaid principal amount hereof from time to time outstanding at a rate per annum equal to the then current Senior Debt Rate plus two percent (2%) per annum in arrears on the last day of each January, April, July and October commencing on January 31[ ], 2011 2012 and on the Maturity Date until this Note shall be paid in full. Each change in any interest rate provided for in this Note based upon the Senior Debt Rate shall take effect at the time of such change in the Senior Debt Rate. Interest shall be calculated on the basis a 360 day year based on the actual number of days elapsed. As used herein:

Payments of Interest. Subject to the terms of the Subordination Agreement, the Company shall pay or cause to be paid to Holder interest on the unpaid principal amount hereof from time to time outstanding at a rate per annum equal to the then current Senior Debt Rate plus two percent (2%) per annum in arrears on the last day of each January, April, July and October commencing on January 31April 18, 2011 2012 and on the Maturity Date until this Note shall be paid in full. Each change in any interest rate provided for in this Note based upon the Senior Debt Rate shall take effect at the time of such change in the Senior Debt Rate. Interest shall be calculated on the basis a 360 day year based on the actual number of days elapsed. As used herein:

Payments of Interest. Subject to the terms of the Subordination Agreement, the Company shall pay or cause to be paid to Holder interest on the unpaid principal amount hereof from time to time outstanding at a rate per annum equal to the then current Senior Debt Rate plus two one percent (21%) per annum in arrears on the last day of each January, April, July and October commencing on January 31, 2011 and on the Maturity Date until this Note shall be paid in full. Each change in any interest rate provided for in this Note based upon the Senior Debt Rate shall take effect at the time of such change in the Senior Debt Rate. Interest shall be calculated on the basis a 360 day year based on the actual number of days elapsed. As used herein: