I wondering about this statement below in the RCF NR that I highlighted and underlined

So RCF can be paid the "interest" in shares or cash on a quarterly basis ..

IF shares ..its based on the VWAP 20 days PRIOR to the date of each interest period. We don't have a copy of this contract and we don't know exactly the date of the interest payment. Does the first Interest payment fall exactly on May 25th..? Meaning 20 days prior is May 5? We don't really know. If we are at the "20 days prior ..Now" or close to it...it certainly would be advantageous for RCF to have the price point at the lowest level thereby getting the most possible shares in return for the interest payment.

TORONTO, ONTARIO--(Marketwire - Feb. 26, 2013) - Noront Resources Ltd. ("Noront" or the "Company") (TSX VENTURE:NOT) is pleased to announce that it has entered into a loan facility with Resource Capital Fund V L.P. ("RCF") in the aggregate principal amount of US$15.0 million (the "Facility"). The Facility is a one year bridge loan (the "Bridge Loan") which matures on February 25th, 2014 and automatically rolls into a convertible loan (the "Convertible Loan") with a maturity date of December 31, 2015, if the Facility is not repaid prior to the Bridge Loan maturity date. The proceeds from the Facility will be used to further the development of the Company's advanced stage Eagle's Nest nickel, copper, platinum, palladium project; for working capital and for corporate requirements.

The Facility will bear interest at 10% per annum during the Bridge Loan period and at 8% per annum during the Convertible Loan period. Interest will be paid quarterly, in arrears, in common shares of the Company based on the volume weighted average trading price of the Company's common shares during the 20 days prior to the date of each interest period determination, or at RCF's option, in cash