Fees Not Interest Clause Samples
The "Fees Not Interest" clause clarifies that any fees charged under the agreement are not to be considered as interest on a loan or credit. In practice, this means that administrative, processing, or service fees are treated separately from interest charges, and are not subject to regulations or limitations that apply specifically to interest. This distinction helps prevent confusion or legal disputes over the nature of payments, ensuring that parties understand the true cost structure and comply with relevant financial regulations.
Fees Not Interest. The fees described in this Agreement represent compensation for services rendered and to be rendered separate and apart from the lending of money or the provision of credit and do not constitute compensation for the use, detention, or forbearance of money, and the obligation of Borrower to pay each fee described herein shall be in addition to, and not in lieu of, the obligation of Borrower to pay interest, other fees described in this Agreement, and expenses otherwise described in this Agreement. Fees shall be payable when due in Dollars and in Immediately Available Funds. All fees shall be non-refundable.
Fees Not Interest. Nonpayment. The fees described in ----------------------------- this Agreement represent compensation for services rendered and to be rendered separate and apart from the lending of money or the provision of credit and do not constitute compensation for the use, detention, or forbearance of money, and the obligation of the Borrower to pay each fee described herein shall be in addition to, and not in lieu of, the obligation of the Borrower to pay interest, other fees described in this Agreement, and expenses otherwise described in this Agreement. Fees shall be payable when due in Dollars and in immediately available funds. The commitment fee referred to in Section 5.1 shall be non- refundable, and shall, to the fullest extent permitted by law, bear interest, if not paid when due, at a rate per annum equal to the lesser of (a) five percent (5%) above the Alternate Base Rate as in effect from time to time or (b) the Highest Lawful Rate.
Fees Not Interest. Nonpayment The fees described in this Agreement represent compensation for services rendered and to be rendered separate and apart from the lending of money or the provision of credit and do not constitute compensation for the use, detention, or forbearance of money, and, subject to Section 11.12. , the obligation of Borrower to pay each fee described herein shall be in addition to, and not in lieu of, the obligation of Borrower to pay interest, other fees described in this Agreement, and expenses otherwise described in this Agreement. Fees shall be payable when due in Dollars and in immediately available funds. Subject to Section 11.12. hereof, all fees, including, without limitation, the fees referred to in Section 5.1. and any other fees payable pursuant to this Agreement, shall be non-refundable, and shall, to the fullest extent permitted by Governmental Requirement, bear interest, if not paid when due, at a rate per annum equal to the lesser of (a) three and one half percent (3.5%) above the Applicable Rate or (b) the Highest Lawful Rate. CREDIT AGREEMENT (Lilis Energy, Inc.)
Fees Not Interest. All fees are for compensation for services and are not, and shall not be deemed to be, interest or a charge for the use of money.
Fees Not Interest. Nonpayment The fees described in this Agreement represent compensation for services rendered and to be rendered separate and apart from the lending of money or the provision of credit and do not constitute compensation for the use, detention, or forbearance of money, and, subject to Section 11.12. , the obligation of Borrower to pay each fee described herein shall be in addition to, and not in lieu of, the obligation of Borrower to pay interest, other fees described in this Agreement, and expenses otherwise described in this Agreement. Fees shall be payable when due in Dollars and in immediately available funds. Subject to Section 11.12. hereof, all fees, including, without limitation, the fees referred to in Section 5.1. and any other fees payable pursuant to this Agreement, shall be non-refundable, and shall, to the fullest extent permitted by Governmental Requirement, bear interest, if not paid when due, at a rate per annum equal to the lesser of (a) three and one half percent (3.5%) above the Applicable Rate or (b) the Highest Lawful Rate. CREDIT AGREEMENT (Lilis Energy, Inc.)