The Maker also promises to pay simple interest on the unpaid principal amount of this Bridge Note from the date hereof until this Bridge Note is paid in full at the per annum rate of two and one-half percent (2.50%). Interest on the unpaid principal amount of this Bridge Note shall be payable at maturity (whether by acceleration or otherwise), upon prepayment (to the extent accrued on the amount being prepaid), and after maturity (whether by acceleration or otherwise), on demand. Any amount of principal and/or interest hereof which is not paid when due, whether at stated maturity, by acceleration or otherwise, shall bear interest from the date when due until said principal and/or interest amount is paid in full, at an interest rate of four and one-half percent (4.5%) per annum. Interest shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed. If at any time and for any reason whatsoever the interest rate payable shall exceed the maximum rate of interest permitted to be charged by the Payee to the Maker under applicable Law, such interest rate shall be reduced automatically to the maximum rate of interest permitted to be charged under applicable Law.