Payment of Default Interest. Any amount of principal, interest or other sums due on this Note which are not paid when due shall bear interest from the date due until such past due amount is paid in full at the highest non-usurious rate permitted by applicable law (the “Default Rate”).
Appears in 2 contracts
Sources: Note Agreement (Puramed Bioscience Inc.), Note (Progressive Care Inc.)
Payment of Default Interest. Any amount of principal, principal or interest or other sums due on this Note which are is not paid when due shall bear interest from the date due until such past due amount is paid in full at the rate that is the highest permissible non-usurious interest rate permitted by applicable law (the “Default Rate”).
Appears in 2 contracts
Sources: Promissory Note (Digital Power Corp), Promissory Note (Digital Power Corp)
Payment of Default Interest. Any amount of principal, principal or interest or other sums due on this Note which are is not paid when due shall bear interest from the date due until such past due amount is paid in full at a rate of interest equal to the highest non-usurious rate permitted by applicable law Applicable Rate plus four percent (4%) per annum (the “Default Rate”).
Appears in 2 contracts
Sources: Securities Purchase Agreement (Key Link Assets Corp.), Securities Purchase Agreement (Key Link Assets Corp.)
Payment of Default Interest. Any amount of principal, principal or interest or other sums due on this Note which are is not paid when due shall bear interest from the date due until such past due amount is paid in full at a rate of interest equal to the highest non-usurious rate permitted by applicable law Applicable Rate plus four percent (4%) per annum (the “Default Rate”). Any accrued but unpaid interest at the Default Rate shall, at the option of the Holder, be included, from time to time, in the any amounts converted hereunder.
Appears in 2 contracts
Sources: Convertible Security Agreement (Wild Craze, Inc.), Convertible Security Agreement (Wild Craze, Inc.)
Payment of Default Interest. Any amount of principal, principal or interest or other sums due on this Note which are is not paid when due shall bear interest from the date due until such past due amount is paid in full at a rate of interest equal to the highest non-usurious rate permitted by applicable law Applicable Rate plus three percent (3%) per annum (the “Default Rate”).
Appears in 1 contract
Payment of Default Interest. Any amount of principal, principal or interest or other sums due on this Note which are is not paid when due shall bear interest from the date due until such past due amount is paid in full at a rate of interest equal to the Applicable Rate plus six percent (6%) per annum (the "Default Rate"). Any accrued but unpaid interest at the highest non-usurious rate permitted by applicable law (Default Rate shall, at the “Default Rate”)option of the Holder, be included, from time to time, in the Conversion Amount.
Appears in 1 contract