Common use of Series I Notes Clause in Contracts

Series I Notes. The Series I Notes shall bear interest on the outstanding principal amount thereof at the rate of seven and eighty-nine one-hundredths percent (7.89%) per annum and shall be payable to the holders of the Series I Notes, in arrears, quarterly on the first day of January, April, July and October in each year, commencing on January 1, 2000, until the principal amount of the Series I Notes in respect of which such interest shall have accrued shall become due and payable, and interest shall accrue on any overdue principal (including any overdue prepayment of principal) and (to the extent permitted by applicable law) on any overdue installment of interest, at a rate equal to nine and eighty-nine one- hundredths percent (9.89%) per annum.

Appears in 1 contract

Sources: Note Purchase Agreement (Smithfield Foods Inc)

Series I Notes. The Series I Notes shall bear interest on the outstanding principal amount thereof at the rate of seven and eighty-nine one-hundredths percent (7.89%) per annum and shall be payable to the holders of the Series I Notes, in arrears, quarterly on the first day of January, April, July and October in each year, commencing on January 1, 2000, until the principal amount of the Series I Notes in respect of which such interest shall have accrued shall become due and payable, and interest shall accrue on any overdue principal (including any overdue prepayment of principal) and (to the extent permitted by applicable law) on any overdue installment of interest, at a rate equal to nine and eighty-nine one- one-hundredths percent (9.89%) per annum.

Appears in 1 contract

Sources: Note Purchase Agreement (Smithfield Foods Inc)