Common use of Interest Due by Lenders Clause in Contracts

Interest Due by Lenders. If any amount to be made available by a Lender to the Liquidity Agent as provided herein is not received by the Liquidity Agent from such Lender by the time specified herein on the date of purchase, the Liquidity Agent shall be entitled to recover such amount from such Lender on demand together with interest on such amount at the Prime Rate plus one percent (1%) per annum calculated from the date on which such amount was due to but excluding the date of payment and actual receipt by the Liquidity Agent.

Appears in 4 contracts

Samples: Liquidity Agreement, Liquidity Agreement, Note Liquidity Agreement

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