Common use of Late Charges and Default Rate Clause in Contracts

Late Charges and Default Rate. a. If any principal reduction, interest payment, fee or other Obligation due under the Note or under the Credit Agreement is not paid within five (5) days of the date upon which such payment is due, Borrowers promise to pay a late charge in the amount of three percent (3%) of the amount of such delinquent payment and Agent Bank need not accept any late payment made unless it is accompanied by such three percent (3%) late payment charge. Any late charge shall be paid to Lenders in proportion to their respective Syndication Interests.

Late Charges and Default Rate. a. If any principal reduction, interest payment, fee or other Obligation payment due under the Note or under the Credit Agreement Notes is not paid within five three (53) days Banking Business Days after receipt by Borrower of the date upon which written notice of such payment is duenonpayment from Agent Bank, Borrowers Borrower promise to pay a late charge in the amount of three four percent (34.0%) of the amount of such delinquent payment and Agent Bank need not accept any late payment made unless it is accompanied by such three four percent (34%) late payment charge. Any late charge shall be paid to Lenders in proportion to their respective Syndication Interests.

Late Charges and Default Rate. a. If any principal reductionScheduled Reduction, interest payment, payment or fee or other Obligation due under the Term Note or under the Credit Term Loan Agreement is not paid within five (5) days of the date upon which such payment is due, Borrowers promise Borrower promises to pay a late charge in the amount of three two percent (32%) of the amount of such delinquent payment and Agent Bank Term Lender need not accept any late payment made unless it is accompanied by such three two percent (32%) late payment charge. Any late charge shall be paid to Lenders in proportion to their respective Syndication Interests.

Late Charges and Default Rate. a. If any principal reduction, interest payment, fee or other Obligation payment due under the C/T Note or under the Credit Agreement is not paid within five three (53) days Banking Business Days after receipt by Borrower of the date upon which written notice of such payment is duenonpayment from Agent Bank, Borrowers Borrower promise to pay a late charge in the amount of three four percent (34.0%) of the amount of such delinquent payment and Agent Bank need not accept any late payment made unless it is accompanied by such three four percent (34%) late payment charge. Any late charge shall be paid to Lenders in proportion to their respective Syndication Interests.

Late Charges and Default Rate. a. (a) If any principal reduction, interest payment, fee or other Obligation payment due under the Note or under the Credit Agreement is not paid within five ten (510) days of following the date upon which such payment is due, Borrowers promise Borrower promises to pay a late charge in the amount of three one percent (31%) of the amount of such delinquent payment and Agent Bank need not accept any late payment made unless it is accompanied by such three one percent (31%) late payment charge. Any late charge shall be paid to Lenders in proportion to their respective Syndication Interests.

Late Charges and Default Rate. a. If any principal reduction, interest reduction required to be made to the Credit Facility is not paid within three (3) days of the date upon which such principal reduction is due or if any other payment, fee or other Obligation due under the Note or under the Credit Agreement is not paid within five fifteen (515) days of the date upon which such payment is due, Borrowers promise to pay a late charge in the amount of three percent (3%) of the amount of such delinquent payment and Agent Bank need not accept any late payment made unless it is accompanied by such three percent (3%) late payment charge. Any late charge shall be paid to Lenders in proportion to their respective Syndication Interests.