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.Interest. Interest shall accrue on a monthly basis on the Principal Indebtednessoutstanding principal amount of this Note, plus accrued but unpaid interest (non-compounding), at a rate of four and seven hundredths percent (4.07%) per annum (the “Interest Rate”) commencingequal to 8.00%. The Company and the Holder negotiated such interest rate on an arm's length basis and agree that such interest rate reflects a market rate of interest as of the date of this Note.hereof. Interest shall be calculated and appliedcomputed 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 360-365-day year and the actual number of days elapsed. Interest will accrue on any principal payment due under this Note until such time as payment therefor is actually delivered to the Holder in such partial Interest Accrual Period (as hereinafter defined).accordance with the terms hereof.
RATE OF INTEREST. Interest Rate. Interest shall accruepayable on the Principal IndebtednessAmount shall accrue at a fixed rate of four and seven hundredths percent (4.07%) per annum (the “Interest Rate”) commencing onequal to the date of this Note.prime interest rate plus 2%. Interest shall be calculated and appliedat the end of each month based on the outstanding Principal Amount at the end of that month on the basis of a 360-360 day year consisting of twelve 30-day months, except thatyear. Outstanding interest for any partialis due at the time the Principal Amount is due as set forth in this Note. Interest Accrual Period (as defined below) shall be calculatedonly accrue on sums advanced 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).received by Borrower under this Note.
Interest Rate. Interest shall accrueInterest. Beginning on the Principal Indebtednessissuance date of this Note (the “Issuance Date”), the outstanding principal balance of this Note shall bear interest at a rate of four and seven hundredths percent (4.07%) per annum (the “Interest Rate”equal to eight percent (8%) commencing on the date of this Note.. Interest shall be calculated and appliedcomputed on the basis of a 360-day year consisting of twelve (12) 30-day months, except thatmonths and shall accrue commencing on the Issuance Date. After the Demand Date, interest for any partial Interest Accrual Period (as defined below)on the unpaid balance of the principal amount outstanding shall be calculated and appliedaccrue at a rate per annum equal to the lesser of twelve percent (12%) or the highest rate permitted by law computed on the basis of a 360-day year and the actual number of days in such partial Interest Accrual Period (as hereinafter defined).twelve (12) 30-day months.
Interest Rate. Interest shall accrueInterest. Beginning on the Principal Indebtednessissuance date of this Note (the Issuance Date), the outstanding principal balance of this Note shall bear interest at a rate of four and seven hundredths percent (4.07%) per annum (the “Interest Rate”equal to seven percent (7%) commencing on the date of this Note.. Interest shall be calculated and appliedcomputed on the basis of a 360-day year consisting of twelve (12) 30-day months, except thatmonths and shall accrue commencing on the Issuance Date. After the Demand Date, interest for any partial Interest Accrual Period (as defined below)on the unpaid balance of the principal amount outstanding shall be calculated and appliedaccrue at a rate per annum equal to the lesser of ten percent (10%) or the highest rate permitted by law computed on the basis of a 360-day year and the actual number of days in such partial Interest Accrual Period (as hereinafter defined).twelve (12) 30-day months.
Interest Rate.INTEREST. Interest shall accrue on the Principal Indebtednessunpaid principal balance of this Note at athe annual rate of four and seven hundredths percent (4.07%Eight Percent (8%) per annum (the “Interest Rate”) commencing onuntil the date of this Note.entire Principal Amount is paid in full. Interest shall not be calculatedcompounded and appliedshall be computed on the basis of a 360-three hundred sixty (360) day year consistingcomprised of twelve 30-day months, except that(12) months of thirty (30) days each, with any calculation based upon a partial month of less than thirty (30) days based on actual days lapsed. will make interest for any partial Interest Accrual Period (as defined below) shall be calculatedpayments quarterly, with the first interest payment due three (3) months from the Effective Date hereof and applied on the basis of a 360-day yeareach 3 months from such date until all interest and the actual number of daysoutstanding principal is paid in such partial Interest Accrual Period (as hereinafter defined).full.
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”) commencingcommence accruing on the date of this Note. Interestthat the Note is fully funded and shall be calculated and appliedcomputed 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 360-365-day year and the actual number of days in such partial Interest Accrual Period (as hereinafter defined)elapsed. Any Principal Amount or interest on this Note which is not paid when due shall bear interest at the rate of the lesser of (i) sixteen percent (16%) per annum and (ii) the maximum amount permitted by law from the due date thereof until the same is paid (“Default Interest”).
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