Interest Rate. The unpaid balance of this Note shall bear interest at the rate of 8% per annum, simple interest. Interest shall be calculated on a 365-day year and the actual number of days in each month.

Interest Calculation. Interest on the outstanding principal balance of this Note shall accrue at an annual rate equal to the Interest Rate, calculated on the basis of a 360 day year; that is, by applying the ratio of the annual interest rate over a year of 360 days, multiplied by the outstanding principal balance, multiplied by the actual number of days the principal balance is outstanding.

Interest. Interest will accrue on Outstanding Balance at the rate of nine percent (9%) per annum. All interest calculations hereunder shall be computed on the basis of a 360-day year comprised of twelve (12) thirty (30) day months, shall compound daily and shall be payable in accordance with the terms of this Note.

This Note shall bear interest on the unpaid principal amount hereof at the rate of eight percent (8%) per annum computed on the basis of the actual number of days elapsed and a year of 360 days; provided, however, that upon the occurrence and during the continuance of an Event of Default (defined below), interest shall accrue on the unpaid principal amount of this Note, from the due date up to the date of actual payment of the unpaid amount (both before and after judgment), at the rate of twelve percent(12%) per annum.