Interest Following Default. Following and during the continuance of an event of default, the outstanding Principal Amount of this Note shall bear interest at the highest rate allowed by law, but in no event more than 12%. In this regard, Holders reserve the right to add any accrued interest that is not paid when due to the Principal Amount.
Appears in 5 contracts
Sources: Securities Purchase Agreement (Lothian Oil Inc), Securities Purchase Agreement (United Heritage Corp), Securities Purchase Agreement (United Heritage Corp)