Common use of Initial Interest Rate Clause in Contracts

Initial Interest Rate. Subject to adjustment as set forth below, the outstanding principal balance of this Note shall bear interest from the date of the initial disbursement of loan proceeds at the initial fixed rate of Three and 50/100 percent (3.50%) per annum, subject to the Default Interest Rate defined below.

Initial Interest Rate. Subject to adjustment as set forth below, the outstanding principal balance of this Note shall bear interest from the date of the initial disbursement of loan proceeds at the initial fixed rate of Three and 50/100 16/100 percent (3.503.16%) per annum, subject to the Default Interest Rate defined below.