Common use of Terms, Form and Denomination of Debenture Clause in Contracts

Terms, Form and Denomination of Debenture. (a) This Debenture shall be designated as a "Debenture due July_____, 2016". (b) The outstanding principal amount of this Debenture shall bear interest from and including the Commencement Date to but excluding the Maturity Date, as applicable, at the rate of twenty-four (24%) per cent per annum payable on the Maturity Date, provided that the minimum amount of interest that shall be due and payable shall be three (3) months interest.

Terms, Form and Denomination of Debenture. (a) This Debenture shall be designated as a "Debenture due July___December__, 2016". (b) The outstanding principal amount of this Debenture shall bear interest from and including the Commencement Date to but excluding the Maturity Date, as applicable, at the rate of twenty-four (24%) per cent per annum payable on the Maturity Date, provided that the minimum amount of interest that shall be due and payable shall be three (3) months interest.