Amendment of Interest and Repayment Premium Sample Clauses

Amendment of Interest and Repayment Premium. KIA and the Company hereby acknowledge that the Balance contemplates interest calculated through the Expiration Date. Notwithstanding the provisions of the KIA Note, provided that the Closing and PIPE Investment (with the allocation of credit per Section 2(b) above) occur prior to the Expiration Date, no further interest shall accrue under the KIA Note following the Effective Date other than as stipulated in the preceding sentence. Shall the Closing and PIPE Investment not have occurred by the Expiration Date, the Balance (as reduced by the Payment in Kind if it has occurred) shall remain in place and interest shall be accrued on the Principal Amount in accordance with the terms of the KIA Note, effective as of the Expiration Date. Furthermore, upon the effectiveness of the Payment in Kind, the Company will be deemed to have satisfied its obligations with respect to the Repayment Premium in full and shall have no further obligations with respect thereto irrespective of any future event that may occur that otherwise would have triggered an obligation to pay the Repayment Premium.
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Related to Amendment of Interest and Repayment Premium

  • Prepayment Premium Borrower will be required to pay a prepayment premium in connection with certain prepayments of the Indebtedness, including a payment made after Lender’s exercise of any right of acceleration of the Indebtedness, as provided in the Note.

  • Interest and Late Charges If Tenant fails to pay when due any Rent or other amounts or charges which Tenant is obligated to pay under the terms of this Lease, the unpaid amounts shall bear interest at the maximum rate then allowed by law. Tenant acknowledges that the late payment of any Monthly Installment of Base Rent will cause Landlord to lose the use of that money and incur costs and expenses not contemplated under this Lease, including without limitation, administrative and collection costs and processing and accounting expenses, the exact amount of which is extremely difficult to ascertain. Therefore, in addition to interest, if any such installment is not received by Landlord within ten (10) days from the date it is due, Tenant shall pay Landlord a late charge equal to ten percent (10%) of such installment. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the loss suffered from such nonpayment by Tenant. Acceptance of any interest or late charge shall not constitute a waiver of Tenant's default with respect to such nonpayment by Tenant nor prevent Landlord from exercising any other rights or remedies available to Landlord under this Lease.

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