Interest. Interest on the Loans shall accrue at the rate of 5.00% per annum from the date of each Loan until the Loans are repaid in full. Interest shall be calculated on the basis of the actual number of days elapsed (including the first day but excluding the last day) but computed as if each calendar year consisted of 360 days. All interest determinations and calculations by Lender are presumptively correct absent manifest error. Accrued interest is due and payable quarterly in arrears on the last day of each quarter, beginning on March 31, 2021.

General. Interest on the Loan shall accrue and shall be payable by the Borrower at the Applicable Interest Rate, as further described below. Other than in the case of interest with respect to the quarterly period ending on December 31, 2016, on each Interest Payment Date, the Borrower shall pay interest on the outstanding principal amount of the Loan with respect to each quarterly period ending on the Quarterly Date immediately prior to such Interest Payment Date at a rate of interest per annum equal to the Applicable Interest Rate based on a 360-day year. Interest on the Loan for the quarterly period ending on December 31, 2016 and all other accrued but unpaid interest shall be payable in full on the Maturity Date.”