Promissory Note interest rate
Company: Applied Digital
The claim, verbatim
Promissory Note bears interest at 0% annually; if Event of Default occurs and remains uncured, interest accrues at 18% annually on principal outstanding balance.
Source (primary)
Applied Digital 8-K filed 2024-05-24 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “The Promissory Note bears interest at an annual rate of zero percent (0%), provided, however, that for so long as an Event of Default (as defined in the Promissory Note) has occurred and remains uncured, the interest on the principal outstanding balance under the outstanding Promissory Note shall accrue at an annual rate of eighteen percent (18%)”
How we checked this
This claim has not yet been checked assertion-by-assertion against its source. It carries a cited source and quote, but the deeper check has not run. When it does, the result appears here whatever it says.
Additional evidence
confirms Applied Digital 8-K filed 2024-05-24
Quote: “The Promissory Note bears interest at an annual rate of zero percent (0%), provided, however, that for so long as an Event of Default (as defined in the Promissory Note) has occurred and remains uncured, the interest on the principal outstanding balance under the outstanding Promissory Note shall accrue at an annual rate of eighteen percent (18%)”