Interest Fees and Charges. Interest shall accrue on Outstanding Advances, both before and after judgment, from the date of disbursement until receipt of Collected Payments, at the Daily Funds Rate. Upon occurrence of an Event of Default, interest on Outstanding Advances shall thereafter accrue, both before and after judgment, at the Default Rate until receipt of Collected Payments. In addition, Client shall pay Summit the Fees and Charges. The Administrative Fees are for monitoring of the Collateral, collection of the Accounts, and administration of this Agreement. The Administrative Fees are not intended to be and shall not be construed to be interest. Interest and Fees and Charges may be deducted from Advances or from Collected Payments.
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Samples: Financing Agreement (Scotts Liquid Gold Inc), Financing Agreement (Corgenix Medical Corp/Co)
Interest Fees and Charges. Interest shall accrue on Outstanding Advances, both before and after judgment, from the date of disbursement until receipt of Collected Payments, at the Daily Funds Rate. Upon occurrence of an Event of Default, interest on Outstanding Advances shall thereafter accrue, both before and after judgment, at the Default Rate until receipt of Collected Payments. In addition, Client shall pay Summit the Fees and Charges. The Administrative Collateral Management Fees are for monitoring of the Collateral, collection of the Accounts, and administration of this Agreement. The Administrative Collateral Management Fees are not intended to be and shall not be construed to be interest. Interest and Fees and Charges may be deducted from Advances or from Collected Payments.
Appears in 2 contracts
Samples: Financing Agreement (WES Consulting, Inc.), Financing Agreement (Scotts Liquid Gold Inc)
Interest Fees and Charges. Interest shall accrue on Outstanding Advances, both before and after judgment, from the date of disbursement until receipt of Collected Payments, at the Daily Funds Rate. Upon occurrence of an Event of Default, interest on Outstanding Advances shall thereafter accrue, both before and after judgment, at the Default Rate until receipt of Collected Payments. In addition, Client shall pay Summit the Fees and Charges. The Administrative Collateral Management Fees are for monitoring of the Collateral, collection of the Accounts, and administration of this Agreement. The Administrative Collateral Management Fees are not intended to be and shall not be construed to be interest. Interest and Fees and Charges may be deducted from Advances or from Collected Payments.. Irvine Sensors Corporation Initials
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