Example ContractsClausesAlternate Rate of Interest
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Alternate Rate of Interest. (a) If prior to the commencement of any Interest Period for a Eurocurrency Advance:

Alternate Rate of Interest. Subject to subclauses [[(a), (b), (c), (d) and (e) of this Section 2.9.2]2]2]2]2]], if:

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 []. 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 remains 6%.

Interest Rate. The unpaid principal balance of this Note will bear interest at 9.25% per annum. Interest shall commence with the date of the Note (i.e. , the “Loan Date”) and shall continue on the outstanding principal amount of this Note until this Note is paid or otherwise satisfied in full. Interest accruing from through shall be paid in three equal tranches on , and . Interest accruing from through the Maturity Date will be payable on the first business day of each month. Interest will be computed based on a 365-day year and the actual days elapsed and will be compounded annually. If any Event of Default, as defined in [Section 2], occurs, then during the continuance of the Event of Default, all principal under this Note shall bear interest on each day outstanding at the lesser of # eighteen percent (18%) per annum compounded quarterly or # the highest lawful rate in effect on such day (the “Default Rate”).

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