Application of Excess Late Fees Sample Clauses

Application of Excess Late Fees. If XX Xxxxx collects or applies any sum in excess of the highest lawful rate, the excess shall be applied to reduction of amounts owed to XX Xxxxx by Resident, or if none exist, shall be refunded. In determining whether or not amounts paid in late charges exceed the highest lawful rate, XX Xxxxx and Resident shall, to the maximum extent permitted under applicable law, characterize any such payment as an expense, fee, or premium rather than as interest and “spread” the total amount of late charges paid throughout the entire period during which overdue amounts remain unpaid so that the late charge rate is uniform throughout such period.
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Related to Application of Excess Late Fees

  • Application of Excess Liability Coverage Contractors may use a combination of primary, and excess insurance policies which provide coverage as broad as (“follow form” over) the underlying primary policies, to satisfy the Required Insurance provisions.

  • Termination of Exchange Fund Any portion of the Exchange Fund that remains undistributed to the holders of Company Common Stock for six months after the Effective Time shall be delivered to Parent, upon demand, and any holder of Company Common Stock who has not theretofore complied with this Article II shall thereafter look only to Parent for payment of its claim for Merger Consideration.

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  • Election of Cash/Compensatory Time Off Justice—

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