Purchaser’s Acknowledgement. Each Purchaser hereby agrees and acknowledges (a) receipt of payments in full satisfaction of the interest payments due on December 31, 2008, March 31, 2009, June 30, 2009 and September 30, 2009, (b) receipt of quarterly financial statements for the quarter ended June 30, 2009, which Purchasers acknowledge demonstrate Annualized Aggregate Net Product Sales in excess of $100,000,000 for purposes of Section 9.6 of the Loan Agreement, and (c) that interest on the unpaid principal balance of the Notes shall accrue from and after October 1, 2009, at the rate of 15% per annum; provided, however, that interest on such unpaid balance shall accrue at the rate of 17% per annum during the continuance of any Event of Default after the Effective Date.
Appears in 2 contracts
Sources: Amendment and Waiver Agreement, Amendment and Waiver Agreement (Jazz Pharmaceuticals Inc)