Common use of Collection Amount Not Received by Collection Date Clause in Contracts

Collection Amount Not Received by Collection Date. If the Collection Amount specified in an Advance Schedule is not received by the Lender by the Collection Date specified in the Advance Schedule, or if any other Event of Default exists, the Borrowers shall immediately pay to the Lender the balance of the Collection Amount that has not yet been remitted to and received by the Lender. Notwithstanding the Lender’s right to demand the immediate payment of all outstanding obligations hereunder on the Collection Date, in the event Borrowers’ obligation to pay the Collection Amount (plus Reimbursable Expenses and all other fees and charges due hereunder and under the related Agreements) is not satisfied on or before the Collection Date, and provided Borrowers are not otherwise in default of this Agreement, in lieu of increasing the Fixed Daily Payment, the Lender may, at the Lender’s option, continue to apply the specified Fixed Daily Payment to the obligations of the Borrowers hereunder. In consideration of the Lender extending the Collection Date, Borrowers hereby understands and agrees that Borrowers shall pay to the Lender an extension fee equal to two percent (2%) of the highest outstanding balance of Borrowers’ obligations to Lender for each 30 day period (or part thereof) after the Collection Date. The extension fee would automatically be charged to Borrowers’ account on the 1st day after the Collection Date and each 30 days thereafter. Borrowers further understand and agree that if any event or condition specified in the first sentence of this Section 2(f) exists, the Lender may, in Lender’s reasonable business discretion, increase the Fixed Daily Payment to 100% of the funds received into the Collection Account and, as such, recover from the Collection Account and/or retain in the Lender Account all amounts due the Lender under this Agreement and/or any Related Agreements (as defined below).

Collection Amount Not Received by Collection Date. If the Collection Amount specified in an Advance Schedule Request is not received by the Lender by the Collection Date specified in the Advance ScheduleRequest, or if any other Event of Default exists, the Borrowers Merchant shall immediately pay to the Lender the balance of the Collection Amount that has not yet been remitted to and received by the Lender. Notwithstanding the Lender’s right to demand the immediate payment of all outstanding obligations hereunder on the Collection Date, and notwithstanding Lender’s right to True-up, as provided above, in the event Borrowers’ Merchant’s obligation to pay the Collection Amount (plus Reimbursable Expenses and all other fees and charges due hereunder and under the related Agreements) is not satisfied on or before the Collection Date, and provided Borrowers are Merchant is not otherwise in default of this Agreement, in lieu of increasing the Fixed Daily PaymentPayment Percentage, the Lender may, at the Lender’s option, continue to apply the specified Fixed Daily Payment Percentage to the obligations of the Borrowers Merchant hereunder. In consideration of the Lender extending the Collection Date, Borrowers Merchant hereby understands and agrees that Borrowers Merchant shall pay to the Lender an extension fee equal to two percent (2%) of the highest outstanding balance of Borrowers’ Merchant’s obligations to Lender for each 30 day period (or part thereof) after the Collection Date. The extension fee would automatically be charged to Borrowers’ Merchant’s account on the 1st day after the Collection Date and each 30 days thereafter. Borrowers Merchant further understand understands and agree agrees that if any event or condition specified in the first sentence of this Section 2(f2(c) exists, the Lender may, in Lender’s reasonable business discretion, increase the Fixed Daily Payment Percentage to 100% of the funds received into the Collection Account and, as such, recover from the Collection Account and/or retain in the Lender Account all amounts due the Lender under this Agreement and/or any Related Agreements (as defined below).

Collection Amount Not Received by Collection Date. If the Collection Amount specified in an Advance Schedule is not received by the Lender by the Collection Date specified in the Advance Schedule, or if any other Event of Default exists, the Borrowers Merchant shall immediately pay to the Lender the balance of the Collection Amount that has not yet been remitted to and received by the Lender. Notwithstanding the Lender’s right to demand the immediate payment of all outstanding obligations hereunder on the Collection Date, in the event Borrowers’ Merchant’s obligation to pay the Collection Amount (plus Reimbursable Expenses and all other fees and charges due hereunder and under the related Agreements) is not satisfied on or before the Collection Date, and provided Borrowers are Merchant is not otherwise in default of this Agreement, in lieu of increasing the Fixed Daily Payment, the Lender may, at the Lender’s option, continue to apply the specified Fixed Daily Payment to the obligations of the Borrowers Merchant hereunder. In consideration of the Lender extending the Collection Date, Borrowers Merchant hereby understands and agrees that Borrowers Merchant shall pay to the Lender an extension fee equal to two percent (2%) of the highest outstanding balance of Borrowers’ Merchant’s obligations to Lender for each 30 day period (or part thereof) after the Collection Date. The extension fee would automatically be charged to Borrowers’ Merchant’s account on the 1st day after the Collection Date and each 30 days thereafter. Borrowers Merchant further understand understands and agree agrees that if any event or condition specified in the first sentence of this Section 2(f2(e) exists, the Lender may, in Lender’s reasonable business discretion, increase the Fixed Daily Payment to 100% of the funds received into the Collection Account and, as such, recover from the Collection Account and/or retain in the Lender Account all amounts due the Lender under this Agreement and/or any Related Agreements (as defined below).

Collection Amount Not Received by Collection Date. If the Collection Amount specified in an Advance Schedule is not received by the Lender by the Collection Date specified in the Advance Schedule, or if any other Event of Default exists, the Borrowers Borrower shall immediately pay to the Lender the balance of the Collection Amount that has not yet been remitted to and received by the Lender. Notwithstanding the Lender’s right to demand the immediate payment of all outstanding obligations hereunder on the Collection Date, in the event Borrowers’ Borrower’s obligation to pay the Collection Amount (plus Reimbursable Expenses and all other fees and charges due hereunder and under the related Agreements) is not satisfied on or before the Collection Date, and provided Borrowers are Borrower is not otherwise in default of this Agreement, in lieu of increasing the Fixed Daily Payment, the Lender may, at the Lender’s option, continue to apply the specified Fixed Daily Payment to the obligations of the Borrowers Borrower hereunder. In consideration of the Lender extending the Collection Date, Borrowers Borrower hereby understands and agrees that Borrowers Borrower shall pay to the Lender an extension fee equal to two percent (2%) of the highest outstanding balance of Borrowers’ Borrower’s obligations to Lender for each 30 day period (or part thereof) after the Collection Date. The extension fee would automatically be charged to Borrowers’ Borrower’s account on the 1st day after the Collection Date and each 30 days thereafterthereafter until the Collection Amount of the extended Advance Schedule (plus all Reimbursable Expenses related thereto) is paid in full. Borrowers Borrower further understand understands and agree agrees that if any event or condition specified in the first sentence of this Section 2(f) exists, the Lender may, in Lender’s reasonable business discretion, increase the Fixed Daily Payment to 100% of the funds received into the Collection Account and, as such, recover from the Collection Account and/or retain in the Lender Account all amounts due the Lender under this Agreement and/or any Related Agreements (as defined below).

Collection Amount Not Received by Collection Date. If the Collection Amount specified in an Advance Schedule is not received by the Lender by the Collection Date specified in the Advance Schedule, or if any other Event of Default exists, the Borrowers Merchant shall immediately pay to the Lender the balance of the Collection Amount that has not yet been remitted to and received by the Lender. Notwithstanding the Lender’s right to demand the immediate payment of all outstanding obligations hereunder on the Collection Date, and notwithstanding Lender’s right to True-up, as provided above, in the event Borrowers’ Merchant’s obligation to pay the Collection Amount (plus Reimbursable Expenses and all other fees and charges due hereunder and under the related Agreements) is not satisfied on or before the Collection Date, and provided Borrowers are Merchant is not otherwise in default of this Agreement, in lieu of increasing the Fixed Daily Payment, the Lender may, at the Lender’s option, continue to apply the specified Fixed Daily Payment to the obligations of the Borrowers Merchant hereunder. In consideration of the Lender extending the Collection Date, Borrowers Merchant hereby understands and agrees that Borrowers Merchant shall pay to the Lender an extension fee equal to two percent (2%) of the highest outstanding balance of Borrowers’ Merchant’s obligations to Lender for each 30 day period (or part thereof) after the Collection Date. The extension fee would automatically be charged to Borrowers’ Merchant’s account on the 1st day after the Collection Date and each 30 days thereafter. Borrowers Merchant further understand understands and agree agrees that if any event or condition specified in the first sentence of this Section 2(f2(e) exists, the Lender may, in Lender’s reasonable business discretion, increase the Fixed Daily Payment to 100% of the funds received into the Collection Account and, as such, recover from the Collection Account and/or retain in the Lender Account all amounts due the Lender under this Agreement and/or any Related Agreements (as defined below).

Collection Amount Not Received by Collection Date. If the Collection Amount specified in an Advance Schedule is not received by the Lender by the Collection Date specified in the Advance Schedule, or if any other Event of Default exists, the Borrowers Borrower shall immediately pay to the Lender the balance of the Collection Amount that has not yet been remitted to and received by the Lender. Notwithstanding the Lender’s right to demand the immediate payment of all outstanding obligations hereunder on the Collection Date, in the event Borrowers’ Borrower’s obligation to pay the Collection Amount (plus Reimbursable Expenses and all other fees and charges due hereunder and under the related Agreements) is not satisfied on or before the Collection Date, and provided Borrowers are Borrower is not otherwise in default of this Agreement, in lieu of increasing the Fixed Daily Payment, the Lender may, at the Lender’s option, continue to apply the specified Fixed Daily Payment to the obligations of the Borrowers Borrower hereunder. In consideration of the Lender extending the Collection Date, Borrowers Borrower hereby understands and agrees that Borrowers Borrower shall pay to the Lender an extension fee equal to two percent (2%) of the highest outstanding balance of Borrowers’ Borrower’s obligations to Lender for each 30 day period (or part thereof) after the Collection Date. The extension fee would automatically be charged to Borrowers’ Borrower’s account on the 1st day after the Collection Date and each 30 days thereafter. Borrowers Borrower further understand understands and agree agrees that if any event or condition specified in the first sentence of this Section 2(f) exists, the Lender may, in Lender’s reasonable business discretion, increase the Fixed Daily Payment to 100% of the funds received into the Collection Account and, as such, recover from the Collection Account and/or retain in the Lender Account all amounts due the Lender under this Agreement and/or any Related Agreements (as defined below).