Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Principal balance hereof at an annual rate equal to 0% (“Interest Rate”), which Interest Rate shall increase to an annual rate of 18% upon the occurrence of an Event of Default (for so long as such event remains uncured). Interest shall be calculated based on a 365-day year and the actual number of days elapsed, to the extent permitted by applicable law.
Appears in 27 contracts
Sources: Convertible Note (FibroBiologics, Inc.), Convertible Security Agreement (Innventure, Inc.), Convertible Note (Banzai International, Inc.)
Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Principal balance hereof at an annual rate equal to 08% (“Interest Rate”), which Interest Rate shall increase to an annual rate of 18% upon the occurrence of an Event of Default (for so long as such event remains uncured). Interest shall be calculated based on a 365-day year and the actual number of days elapsed, to the extent permitted by applicable law.
Appears in 10 contracts
Sources: Convertible Promissory Note (Jupiter Neurosciences, Inc.), Convertible Note (Jeffs' Brands LTD), Convertible Promissory Note (Coeptis Therapeutics Holdings, Inc.)
Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Principal balance hereof at an annual rate equal to 05% (“Interest Rate”), which Interest Rate shall increase to an annual rate of 18% upon the occurrence of an Event of Default (for so long as such event remains uncured). Interest shall be calculated based on a 365-day year and the actual number of days elapsed, to the extent permitted by applicable law.
Appears in 6 contracts
Sources: Convertible Security Agreement (Innventure, Inc.), Convertible Note (micromobility.com Inc.), Convertible Security Agreement (Innventure, Inc.)
Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Principal balance hereof at an annual rate equal to zero percent (0% %) (“Interest Rate”), which Interest Rate shall increase to an annual rate of 18% upon the occurrence of an Event of Default (for so long as such event remains uncureduncured or is not waived). Interest shall be calculated based on a 365-day year and the actual number of days elapsed, to the extent permitted by applicable law.
Appears in 5 contracts
Sources: Convertible Note (Applied Digital Corp.), Prepaid Advance Agreement (Applied Digital Corp.), Convertible Note (Applied Digital Corp.)
Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Principal balance hereof at an annual rate equal to 05% (“Interest Rate”), which Interest Rate shall increase to an annual rate of 1815% upon the occurrence of an Event of Default (for so long as such event any Event of Default remains uncured). Interest shall be calculated based on the basis of a 365-day year and the actual number of days elapsed, to the extent permitted by applicable law.
Appears in 4 contracts
Sources: Securities Purchase Agreement (Molecular Data Inc.), Convertible Debenture (China Xiangtai Food Co., Ltd.), Convertible Debenture (China Xiangtai Food Co., Ltd.)
Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Principal balance hereof at an annual rate equal to 08% (“Interest Rate”), which Interest Rate shall increase to an annual rate of 18% upon the occurrence of an Event of Default (for so long as such event remains uncureduncured or waived). Interest shall be calculated based on a 365-day year and the actual number of days elapsed, to the extent permitted by applicable law.
Appears in 4 contracts
Sources: Convertible Note (Celularity Inc), Standby Equity Purchase Agreement (Celularity Inc), Consent to Yorkville Arrangements (Celularity Inc)
Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Principal balance hereof at an annual rate equal to 0% (“Interest Rate”), which Interest Rate shall increase to an annual rate of 1815% upon the occurrence of an Event of Default (for so long as such event it remains uncured). Interest shall be calculated based on a 365-day year and the actual number of days elapsed, to the extent permitted by applicable law.
Appears in 3 contracts
Sources: Convertible Promissory Note (SMX (Security Matters) Public LTD Co), Convertible Promissory Note (SMX (Security Matters) Public LTD Co), Reciprocal Standby Equity Purchase Agreement (Lionheart III Corp)
Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Principal balance hereof at an annual rate equal to 03% (“Interest Rate”), which Interest Rate shall increase to an annual rate of 1815% upon the occurrence of an Event of Default (for so long as such event it remains uncured). Interest shall be calculated based on a 365-day year and the actual number of days elapsed, to the extent permitted by applicable law.
Appears in 3 contracts
Sources: Securities Purchase Agreement (Canoo Inc.), Securities Purchase Agreement (Canoo Inc.), Securities Purchase Agreement (Canoo Inc.)
Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Principal principal balance hereof at an annual the rate equal to of 0% per year (the “Interest Rate”), which Interest Rate shall increase to an annual rate of 18% upon . Upon the occurrence of an Event of Default (for so long as such event remains uncured)Default, interest shall accrue at a rate of 15% per year until collected in full. Interest shall be calculated based on the basis of a 365-day year and the actual number of days elapsed, to the extent permitted by applicable law.
Appears in 3 contracts
Sources: Convertible Promissory Note (micromobility.com Inc.), Convertible Promissory Note (micromobility.com Inc.), Convertible Promissory Note (micromobility.com Inc.)
Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Principal balance hereof at an annual rate equal to 0% (“Interest Rate”), which Interest Rate shall increase to an annual rate of 18% upon the occurrence of an Event of Default (for so long as such event Event of Default is continuing and remains uncured). Interest shall be calculated based on a 365-day year and the actual number of days elapsed, to the extent permitted by applicable law. ____________ 1 Insert date 12 months from the closing date of the First Pre-Paid Advance.
Appears in 3 contracts
Sources: Convertible Note (Next.e.GO N.V.), Convertible Note (Next.e.GO N.V.), Convertible Note (Next.e.GO N.V.)
Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Principal balance hereof at an annual rate equal to 04% (“Interest Rate”), which Interest Rate shall increase to an annual rate of 1815% (i) upon the occurrence and during the continuance of an any Event of Default or (ii) for so long as such event any Registration Event remains uncured)in effect. Interest shall be calculated based on the basis of a 365-day year and the actual number of days elapsed, to the extent permitted by applicable law.
Appears in 2 contracts
Sources: Convertible Debenture Amendment (Rubicon Technologies, Inc.), Convertible Debenture Amendment (Rubicon Technologies, Inc.)
Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Principal balance hereof at an annual rate equal to 0% (“Interest Rate”), which Interest Rate shall increase to an annual rate of 1815% upon for any such day that the occurrence of an Event of Default (for so long as such event remains uncured)Closing Bid Price is below the Floor Price. Interest shall be calculated based on the basis of a 365-day year and the actual number of days elapsed, to the extent permitted by applicable law.
Appears in 2 contracts
Sources: Deposit Agreement (Citibank,N.A./ADR), Convertible Debenture (AnPac Bio-Medical Science Co., Ltd.)
Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Principal balance hereof at an annual rate equal to 06% (“Interest Rate”), which Interest Rate shall increase to an annual rate of 18% upon the occurrence of an Event of Default (for so long as such event remains uncured). Interest shall be calculated based on a 365-day year and the actual number of days elapsed, to the extent permitted by applicable law.
Appears in 2 contracts
Sources: Convertible Note (VisionWave Holdings, Inc.), Convertible Note (VisionWave Holdings, Inc.)
Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Principal balance hereof at an annual rate equal to 012% (“Interest Rate”), which Interest Rate shall increase to an annual rate of 18% upon the occurrence of an Event of Default (for so long as such event it remains uncured). Interest shall be calculated based on a 365-day year and the actual number of days elapsed, to the extent permitted by applicable law.
Appears in 2 contracts
Sources: Securities Purchase Agreement (Sono Group N.V.), Funding Commitment Letter (Sono Group N.V.)
Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Principal balance hereof at an annual rate equal to 05% (“Interest Rate”), which Interest Rate shall increase to an annual rate of 1815.0% upon the occurrence and during the continuance of an any Event of Default (for so long as such event remains uncured)Default. Interest shall be calculated based on the basis of a 365-day year and the actual number of days elapsed, to the extent permitted by applicable law.
Appears in 2 contracts
Sources: Securities Purchase Agreement (Niocorp Developments LTD), Securities Purchase Agreement (Niocorp Developments LTD)
Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Principal balance hereof at an annual rate equal to 0% for the first 90 days following the Issuance Date, and 6% thereafter (“Interest Rate”), which Interest Rate shall increase to an annual rate of 18% upon the occurrence of an Event of Default (for so long as such event remains uncured). Interest shall be calculated based on a 365-day year and the actual number of days elapsed, to the extent permitted by applicable law.
Appears in 2 contracts
Sources: Convertible Note (Banzai International, Inc.), Convertible Note (Banzai International, Inc.)
Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Principal balance hereof at an annual rate equal to 05.0% (“Interest Rate”), which Interest Rate shall increase to an annual rate of 18% upon the occurrence of an Event of Default (for so long as such event remains uncured). Interest shall be calculated based on a 365-day year and the actual number of days elapsed, to the extent permitted by applicable law.
Appears in 2 contracts
Sources: Convertible Note (Plum Acquisition Corp. III), Convertible Note (Tactical Resources Corp.)
Interest Rate and Payment of Interest. Interest shall accrue on the outstanding funded Principal balance hereof at an annual rate equal to 06% (“Interest Rate”), which Interest Rate shall increase to an annual rate of 18% upon the occurrence of an Event of Default (for so long as such event remains uncured). Interest shall be calculated based on a 365-day year and the actual number of days elapsed, to the extent permitted by applicable law.
Appears in 1 contract
Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Principal balance hereof at an annual rate equal to 012% (“Interest Rate”), which Interest Rate shall increase to an annual rate of 18% upon the occurrence of an Event of Default (for so long as such event remains uncured). Interest shall be calculated based on a 365-day year and the actual number of days elapsed, to the extent permitted by applicable law.
Appears in 1 contract
Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Principal balance hereof at an annual rate equal to 08% (“Interest Rate”), which Interest Rate shall increase to an annual rate of 18% upon the occurrence of an Event of Default (for so long as such event remains uncureduncured or not waived by Holder). Interest shall be calculated based on a 365-day year and the actual number of days elapsed, to the extent permitted by applicable law.
Appears in 1 contract
Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Principal balance hereof at an annual rate equal to 05 % (“Interest Rate”), which Interest Rate shall increase to an annual rate of 1815% upon for the occurrence remainder of an Event of Default (the term for so long as such event any Event of Default remains uncured). Interest shall be calculated based on the basis of a 365-day year and the actual number of days elapsed, to the extent permitted by applicable law. For the avoidance of doubt, no Interest shall accrue on the Principal balance that is not outstanding at the Maturity Date.
Appears in 1 contract
Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Principal balance hereof at an annual rate equal to 06% (“Interest Rate”), which Interest Rate shall increase to an annual rate of 18% upon the occurrence of an Event of Default (for so long as such event it remains uncured). Interest shall be calculated based on a 365-day year and the actual number of days elapsed, to the extent permitted by applicable law.
Appears in 1 contract
Sources: Standby Equity Purchase Agreement (GigCapital5, Inc.)
Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Principal balance hereof at an annual rate equal to 08% (“Interest Rate”), which Interest Rate shall increase to an annual rate of 18% upon the occurrence of an Event of Default (for so long as such event remains uncured), provided however, if this Note is repaid within 90 days of the Issuance Date, any accrued and unpaid interest shall be forgiven. Interest shall be calculated based on a 365-day year and the actual number of days elapsed, to the extent permitted by applicable law.
Appears in 1 contract
Sources: Convertible Promissory Note (micromobility.com Inc.)
Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Principal balance hereof at an annual rate equal to 00.0% (“Interest Rate”), which Interest Rate shall increase to an annual rate of 1818.0% upon the occurrence of an any Event of Default (for so long as such event remains uncureduncured or is not waived). Interest shall be calculated based on the basis of a 365-day year and the actual number of days elapsed, to the extent permitted by applicable law.
Appears in 1 contract
Sources: Securities Purchase Agreement (Niocorp Developments LTD)
Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Principal balance hereof at an annual rate equal to 08.00% (“Interest Rate”), which Interest Rate shall increase to an annual rate of 1818.00% upon the occurrence of an Event of Default (for so long as such event it remains uncured). Interest shall be calculated based on a 365-day year and the actual number of days elapsed, to the extent permitted by applicable law.
Appears in 1 contract
Sources: Purchase Agreement (N2OFF, Inc.)
Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Principal balance hereof at an annual rate equal to 010% (“Interest Rate”), which Interest Rate shall increase to an annual rate of 18% upon the occurrence of an Event of Default (for so long as such event remains uncured). Interest shall be calculated based on a 365-day year and the actual number of days elapsed, to the extent permitted by applicable law.
Appears in 1 contract
Sources: Convertible Note (Nukkleus Inc.)