Example ContractsClausesAdjustment to Interest Rate
Adjustment to Interest Rate
Adjustment to Interest Rate contract clause examples

Adjustment to Interest Rate. Changes to the interest rate of any Credit Extension based on changes to the Prime Rate shall be effective on the effective date of any change to the Prime Rate and to the extent of any such change.

INTEREST; INTEREST RATE. Interest on the Principal outstanding from time to time shall commence accruing on the Issuance Date (as set forth above) and shall be payable in cash on the last business day of each calendar quarter until the Maturity Date, unless paid earlier in connection with the repayment of Note pursuant to Section 1 hereof or conversion of the Note pursuant to Section 3 hereof, with such first payment due on [September 30, 2023]. The Holder has the option to defer quarterly interest payments (simple interest). Deferred interest payments will be paid within thirty (30) days of written request by the Holder. Any deferred and unpaid interest will be paid at the maturity date of the Note. No additional interest will be accrued on the deferred interest payments (simple interest).

Interest Rate. The interest rate 6%.

Interest Rate. Interest on the Outstanding Principal Balance of the Loan shall accrue from the Closing Date at the Interest Rate until repaid in accordance with the applicable terms and conditions hereof.

Interest Rate. All Base Rate Loans shall accrue interest at the Base Rate. All LIBOR Loans shall accrue interest at a rate per annum equal to the LIBOR Daily Floating Rate plus the Applicable Percentage for LIBOR Loans. All Eurodollar Loans shall accrue interest at the Adjusted Eurodollar Rate. All Competitive Bid Loans shall bear interest at a rate per annum equal to the sum of # the Eurodollar Rate determined for the Interest Period (determined as if the related Competitive Bid Loan were a Revolving Loan which is a Eurodollar Loan) plus # the Competitive Bid Margin quoted by the [[Organization A:Organization]] making such Competitive Bid Loan in accordance with Section 2.2.

Commencing on the date hereof, the unpaid principal balance of this Deed of Trust Note (as the same may be amended, restated or supplemented from time to time, the “Note”) outstanding from time to time shall bear interest at the fixed interest rate of four and one-eighth percent (4.125%) per annum. Interest shall be calculated using a 360-day year, based upon the actual number of days for which the calculation is being made.

Interest Rate. Interest shall accrue on the Principal Indebtedness at a rate of four and seven hundredths percent (4.07%) per annum (the “Interest Rate”) commencing on the date of this Note. Interest shall be calculated and applied on the basis of a 360-day year consisting of twelve 30-day months, except that interest for any partial Interest Accrual Period (as defined below) shall be calculated and applied on the basis of a 360-day year and the actual number of days in such partial Interest Accrual Period (as hereinafter defined).

Interest Rate Options. Subject to the provisions of this Section, at the election of the Borrower, # Revolving Credit Loans denominated in Dollars and the Term Loans, shall bear interest at # the Base Rate plus the Applicable Margin or # the Eurocurrency Rate plus the Applicable Margin; # Revolving Credit Loans denominated in an Alternative Currency shall bear interest at the Eurocurrency Rate plus the Applicable Margin (provided that the Eurocurrency Rate shall not be available until three (3)

Notwithstanding anything to the contrary contained in any Loan Document, the interest paid or agreed to be paid under the Loan Documents shall not exceed the maximum rate of non-usurious interest permitted by Applicable Law (the “Maximum Rate”). If the Administrative Agent or any Lender shall receive interest in an amount that exceeds the Maximum Rate, the excess interest shall be applied to the principal of the Loans or, if it exceeds such unpaid principal, refunded to the Borrower. In determining whether the interest contracted for, charged, or received by the Administrative Agent or a Lender exceeds the Maximum Rate, such Person may, to the extent permitted by Applicable Law, # characterize any payment that is not principal as an expense, fee, or premium rather than interest, # exclude voluntary prepayments and the effects thereof, and # amortize, prorate, allocate, and spread in equal or unequal parts the total amount of interest throughout the contemplated term of the Obligations hereunder.

Interest Rate; Payments. Interest shall accrue on the unpaid principal amount of this Note at the rate of nine percent (9%) per annum (“Regular Interest”) from the Effective Date until such unpaid principal amount is paid in full or earlier converted into shares (the “Shares”) of the Maker’s common stock, $0.0001 par value per share (the “Common Stock”), in accordance with the terms hereof. Interest accrued hereunder shall be paid either in cash or in Common Stock, as determined by the Payee in its sole discretion (provided that all accrued interest shall be paid in cash unless the Maker elects to receive any accrued interest in the form of Common Stock pursuant to a Conversion Notice delivered by the Maker pursuant to Section 2), in accordance with the following schedule:

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