Common use of Expenses and Late Fees Clause in Contracts

Expenses and Late Fees. The Company shall pay to the Lender his out-of-pocket expenses, if any, determined in accordance with Section 9.2 (a) hereof, payable on the date of execution of this Agreement. Prior to maturity, for each payment of principal or interest not paid when due (subject to applicable grace period), a late fee equal to the greater of one percent (1.00%) of the amount of such payment or twenty five dollars ($25).

Expenses and Late Fees. The Company shall pay to the Lender his its’ out-of-pocket expenses, if any, determined in accordance with Section 9.2 (a) hereof, payable on the date of execution of this Agreement. Prior to maturity, for each payment of principal or interest not paid when due (subject to applicable grace period), a late fee equal to the greater of one percent (1.00%) of the amount of such payment or twenty five dollars ($25).