Common use of Late Charge Clause in Contracts

Late Charge. If any payments are not timely made, Borrower shall also pay to Bank a late charge equal to 5% of each payment past due for 10 or more days. Acceptance by Bank of any late payment without an accompanying late charge shall not be deemed a waiver of Bank's right to collect such late charge or to collect a late charge for any subsequent late payment received.

Appears in 10 contracts

Sources: Promissory Note (Paragon Technologies Inc), Promissory Note (Bluegreen Corp), Promissory Note (Paragon Technologies Inc)

Late Charge. If any payments are not timely made, Borrower shall also pay to Bank a late charge equal to 5% of each payment past due for 10 or more days. Acceptance by Bank of any late payment without an accompanying late charge shall not be deemed a waiver of Bank's ’s right to collect such late charge or to collect a late charge for any subsequent late payment received.

Appears in 6 contracts

Sources: Loan Agreement (Superior Uniform Group Inc), Loan Agreement (Home Diagnostics Inc), Loan Agreement (Home Diagnostics Inc)

Late Charge. If any payments are not timely made, Borrower shall also pay to Bank a late charge equal to 54% of each payment past due for 10 15 or more days. Acceptance by Bank of any late payment without an accompanying late charge shall not be deemed a waiver of Bank's right to collect such late charge or to collect a late charge for any subsequent late payment received.

Appears in 4 contracts

Sources: Loan Agreement (Craftmade International Inc), Promissory Note (Inter Act Electronic Marketing Inc), Revolving Credit Promissory Note (Think Partnership Inc)

Late Charge. If any payments are not timely made, Borrower shall also pay to Bank a late charge equal to 5% of each payment past due for 10 or more days. This late charge shall not apply to payments due at maturity or by acceleration hereof, unless such late payment is in an amount not greater than the highest periodic payment due hereunder. Acceptance by Bank of any late payment without an accompanying late charge shall not be deemed a waiver of Bank's right to collect such late charge or to collect a late charge for any subsequent late payment received.

Appears in 2 contracts

Sources: Promissory Note (Tofutti Brands Inc), Promissory Note (Paragon Technologies Inc)

Late Charge. If any payments are not timely made, Borrower shall also pay to Bank a late charge equal to 5% of each payment past due for 10 or more days. The Borrower acknowledges that the late charge imposed herein represents a reasonable estimate of the expenses of Bank incurred because of such lateness. Acceptance by Bank of any late payment without an accompanying late charge shall not be deemed a waiver of Bank's right to collect such late charge or to collect a late charge for any subsequent late payment received.

Appears in 2 contracts

Sources: Loan Agreement (Superior Uniform Group Inc), Renewal Revolving Credit Note (Superior Uniform Group Inc)

Late Charge. If any payments are not timely made, Borrower shall also pay to Bank a late charge equal to 5% of each payment past due for 10 or more days. This late charge shall not apply to payments due at maturity or by acceleration hereof, unless such late payment is in an amount not greater than the highest periodic payment due hereunder. Acceptance by Bank of any late payment without an accompanying late charge shall not be deemed a waiver of Bank's ’s right to collect such late charge or to collect a late charge for any subsequent late payment received.

Appears in 2 contracts

Sources: Loan Agreement (Gulfstream International Group Inc), Promissory Note (Eresearchtechnology Inc /De/)

Late Charge. If any payments are not timely made, Borrower shall also pay to Bank a late charge equal to 54% of each payment past due for 10 15 or more days. Acceptance by Bank of any late payment without an accompanying This late charge shall not be deemed a waiver apply to payments due at maturity or by acceleration of Bank's right to collect the Loans, unless such late charge or to collect a late charge for any subsequent late payment receivedis in an amount not greater than the highest periodic payment due hereunder.

Appears in 2 contracts

Sources: Loan and Security Agreement (Primo Water Corp), Loan and Security Agreement (Vitacost.com, Inc.)

Late Charge. If any payments are not timely made, Borrower shall also pay to Bank Lender a late charge equal to 5% of each payment past due for 10 or more days. Acceptance by Bank of any late payment without an accompanying This late charge shall not be deemed a waiver apply to payments due at maturity or by acceleration of Bank's right to collect the Loan, unless such late charge or to collect a late charge for any subsequent late payment receivedis in an amount not greater than the highest periodic payment due hereunder.

Appears in 2 contracts

Sources: Master Loan Agreement (Asbury Automotive Group Inc), Master Loan Agreement (Asbury Automotive Group Inc)

Late Charge. If any payments are not timely made, Borrower shall also pay to Bank a late charge equal to 5% of each payment past due for 10 or more days. The Borrower acknowledges that the late charge imposed herein represents a reasonable estimate of the expenses of Bank incurred because of such lateness. Acceptance by Bank of any late payment without an accompanying late charge shall not be deemed a waiver of Bank's ’s right to collect such late charge or to collect a late charge for any subsequent late payment received.

Appears in 2 contracts

Sources: Loan Agreement (Superior Uniform Group Inc), Loan Agreement (Superior Uniform Group Inc)

Late Charge. If any payments under this Note are not timely made, Borrower Borrowers shall also pay to Bank a late charge equal to 5% of each payment past due for 10 or more days. Acceptance by Bank of any late payment without an accompanying late charge shall not be deemed a waiver of Bank's right to collect such late charge or to collect a late charge for any subsequent late payment received.

Appears in 2 contracts

Sources: Revolving Credit Note (National Home Health Care Corp), Revolving Credit Note (National Home Health Care Corp)

Late Charge. If any payments are not timely made, Borrower shall also pay to Bank Lender a late charge equal to 5% two percent (2%) of each payment past due for 10 ten (10) or more calendar days. Acceptance by Bank Lender of any late payment without an accompanying late charge shall not be deemed a waiver of Bank's Lender’s right to collect such late charge or to collect a late charge for any subsequent late payment received.

Appears in 2 contracts

Sources: Promissory Note (American Home Food Products, Inc.), Promissory Note (American Home Food Products, Inc.)

Late Charge. If any payments are not timely made, Borrower shall also pay to Bank Lender a late charge equal to 5% of each payment past due for 10 or more days. Acceptance by Bank Lender of any late payment without w▇▇▇▇▇▇ an accompanying late charge shall not be deemed a waiver of BankLender's right to collect such late su▇▇ ▇▇▇e charge or to collect a late charge for any subsequent late payment received.

Appears in 1 contract

Sources: Modification and Assignment of Promissory Notes (Juniper Partners Acquisition Corp.)

Late Charge. If any payments are not timely mademade (other than as a result of Lender's failure to debit the Borrower's Demand Deposit Account in accordance with Section 2.5.2 hereof), Borrower shall also pay to Bank Lender a late charge equal to 5% of each payment past due for 10 or more days. Acceptance by Bank of any late payment without an accompanying This late charge shall not be deemed a waiver apply to payments due at maturity or by acceleration of Bank's right to collect the applicable Loans, unless such late charge or to collect a late charge for any subsequent late payment receivedis in an amount not greater than the highest periodic payment due hereunder.

Appears in 1 contract

Sources: Master Loan Agreement (DT Acceptance Corp)

Late Charge. If any payments are not timely made, Borrower shall also pay to Bank a late charge equal to 5% of each payment past due for 10 15 or more days. Acceptance by Bank of any late payment without an accompanying late charge shall not be deemed a waiver of Bank's right to collect such late charge or to collect a late charge for any subsequent late payment received.

Appears in 1 contract

Sources: Loan Agreement (Goldfield Corp)

Late Charge. If any payments are the payment is not timely made, Borrower shall also pay to Bank Lender a late charge equal to 5% two percent (2%) of each the payment (or portion thereof) which is past due for 10 ten (10) or more calendar days. Acceptance by Bank Lender of any late payment (or a portion thereof) without an accompanying late charge shall not be deemed a waiver of Bank's Lender’s right to collect such late charge or to collect a late charge for any subsequent late payment (or a portion thereof) received.

Appears in 1 contract

Sources: Promissory Note (American Home Food Products, Inc.)

Late Charge. If any payments are not timely made, Borrower shall also pay to Bank a late charge equal to 5% of each payment past due for 10 or more daysdays after receipt of written notice from Bank that such payment is overdue. Acceptance by Bank of any late payment without an accompanying late charge shall not be deemed a waiver of Bank's right to collect such late charge or to collect a late charge for any subsequent late payment received.

Appears in 1 contract

Sources: Loan Agreement (Fastnet Corp)

Late Charge. If any payments are not timely made, Borrower shall also pay to Bank a late charge equal to 5% of each payment past due for 10 or more days. Acceptance by Bank of any late payment without an accompanying This late charge shall not be deemed a waiver of Bank's right apply to collect payments due at maturity or by acceleration hereof, unless such late charge or to collect a late charge for any subsequent late payment receivedis in an amount not greater than the highest periodic payment due hereunder.

Appears in 1 contract

Sources: Mortgage Note (Wellsford Real Properties Inc)

Late Charge. If any payments due hereunder are not timely mademade by Borrowers, Borrower Borrowers shall also pay to Bank a late charge equal to 55.0% of each payment past due for 10 or more days. Acceptance by Bank of any late payment without an accompanying This late charge shall not be deemed a waiver apply to payments due at maturity or by acceleration of Bank's right to collect the Loans, unless such late charge or to collect a late charge for any subsequent late payment receivedis in an amount not greater than the highest periodic payment due hereunder.

Appears in 1 contract

Sources: Loan and Security Agreement (Emerson Radio Corp)

Late Charge. If any payments are not timely made, Borrower shall also pay to the Bank a late charge equal to 5% of each payment past due for 10 or more days. Acceptance by the Bank of any late payment without an accompanying late charge shall not be deemed a waiver of the Bank's right to collect such late charge or to collect a late charge for any subsequent late payment received.

Appears in 1 contract

Sources: Loan and Security Agreement (New Brunswick Scientific Co Inc)

Late Charge. If any payments are not timely made, Borrower shall also pay to Bank a late charge equal to 55.0% of each payment past due for 10 or more days. Acceptance by Bank of any late payment without an accompanying This late charge shall not be deemed a waiver apply to payments due at maturity or by acceleration of Bank's right to collect the Loans, unless such late charge or to collect a late charge for any subsequent late payment receivedis in an amount not greater than the highest periodic payment due hereunder.

Appears in 1 contract

Sources: Loan and Security Agreement (Ic Isaacs & Co Inc)

Late Charge. If any payments are not timely made, Borrower shall also pay to Bank Lender a late charge equal to 5% two percent (2%) of each payment past due for 10 fifteen (15) or more days. Acceptance by Bank Lender of any late payment without an accompanying late charge shall not be deemed a waiver of BankLender's right to collect such late charge or to collect a late charge for any subsequent late payment received.

Appears in 1 contract

Sources: Loan Agreement (Old Dominion Freight Line Inc/Va)

Late Charge. If any payments are not timely made, Borrower shall also pay to Bank a late charge equal to 5% of each payment past due for 10 or more days. This late charge shall not apply to payments due at maturity or by acceleration hereof, unless such late payment is in an amount not greater than the highest periodic payment due hereunder, Acceptance by Bank of any late payment without an accompanying late charge shall not be deemed a waiver of Bank's right to collect such late charge or to collect a late charge for any subsequent late payment received.

Appears in 1 contract

Sources: Promissory Note (Paragon Technologies Inc)

Late Charge. If any payments are not timely made, Borrower shall also pay to Bank a late charge equal to 5% of each payment past due for 10 8 or more days. This late charge shall not apply to payments due at maturity or by acceleration hereof, unless such late payment is in an amount not greater than the highest periodic payment due hereunder. Acceptance by Bank of any late payment without an accompanying late charge shall not be deemed a waiver of Bank's right to collect such late charge or to collect a late charge for any subsequent late payment received.

Appears in 1 contract

Sources: Loan Agreement (Steelcloud Inc)