Common use of Late Fee; Default Rate Clause in Contracts

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 79 contracts

Samples: Loan and Security Agreement (Backblaze, Inc.), Loan and Security Agreement (Backblaze, Inc.), Loan and Security Agreement (Backblaze, Inc.)

AutoNDA by SimpleDocs

Late Fee; Default Rate. If any payment is not made within ten (10) 15 days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) % of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) 5 percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 38 contracts

Samples: Loan and Security Agreement (Omega Therapeutics, Inc.), Loan and Security Agreement (Indie Semiconductor, Inc.), Loan and Security Agreement

Late Fee; Default Rate. If any payment is not made within ten (10) 10 days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) % of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) 5 percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 24 contracts

Samples: Loan and Security Agreement (Rally Software Development Corp), Loan and Security Agreement (Pfsweb Inc), Loan and Security Agreement (Opentable Inc)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower Borrowers shall pay Bank a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 21 contracts

Samples: Loan and Security Agreement (IBEX LTD), Loan and Security Agreement (Taiwan Liposome Company, Ltd.), Loan and Security Agreement

Late Fee; Default Rate. If any payment is not made within ten (10) 10 days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 19 contracts

Samples: Loan and Security Agreement (Natera, Inc.), Loan and Security Agreement (Natera, Inc.), Loan and Security Agreement (Bellicum Pharmaceuticals, Inc)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law, not in any case to be less than $25.00. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 17 contracts

Samples: Loan and Security Agreement (Zedge, Inc.), Loan and Security Agreement (Streamline Health Solutions Inc.), Loan and Security Agreement (Streamline Health Solutions Inc.)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower Borrowers shall pay Bank a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law, not in any case to be less than $25.00. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 5 contracts

Samples: Loan and Security Agreement (Northern Star Acquisition Corp.), Loan and Security Agreement, Loan and Security Agreement (SharpSpring, Inc.)

Late Fee; Default Rate. If any payment is not made within ten (10) 10 days after the date such payment is due, Borrower Borrowers shall pay Bank a late fee equal to the lesser of (i) five percent (5%) % of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) 5 percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 4 contracts

Samples: Loan and Security Agreement, Loan and Security Agreement (Trupanion Inc.), Loan and Security Agreement (Proteinsimple)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) % of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 4 contracts

Samples: Loan and Security Agreement (Provide Commerce Inc), Loan and Security Agreement (Orasure Technologies Inc), Loan and Security Agreement (Pumatech Inc)

Late Fee; Default Rate. If any payment is not made within ten (10) 15 days after the date such payment is due, Borrower shall pay Bank Agent (for the benefit of the Lenders) a late fee equal to the lesser of (i) five percent (5%) % of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 4 contracts

Samples: Loan and Security Agreement (Kala Pharmaceuticals, Inc.), Loan and Security Agreement (Kala Pharmaceuticals, Inc.), Loan and Security Agreement (Kala Pharmaceuticals, Inc.)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank Lenders a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law, not in any case to be less than $25.00. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 4 contracts

Samples: Loan and Security Agreement (Enphase Energy, Inc.), Loan and Security Agreement (Enphase Energy, Inc.), Loan and Security Agreement (Enphase Energy, Inc.)

Late Fee; Default Rate. If any payment is not made within ten (10) 15 days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) % of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.under

Appears in 3 contracts

Samples: Loan and Security Agreement (Dermira, Inc.), Loan and Security Agreement (Dermira, Inc.), Loan and Security Agreement (Dermira, Inc.)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five four (54) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 3 contracts

Samples: Loan Agreement (Evolving Systems Inc), Loan Agreement (Evolving Systems Inc), Loan and Security Agreement (Evolving Systems Inc)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower the Borrowers shall pay Bank a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 3 contracts

Samples: Loan and Security Agreement (Journey Medical Corp), Loan and Security Agreement (Journey Medical Corp), Loan and Security Agreement (Journey Medical Corp)

Late Fee; Default Rate. If any payment is not made within ten (10) 15 days after the date such payment is due, Borrower Borrowers shall pay Bank a late fee equal to the lesser of (i) five percent (5%) % of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) 5 percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 3 contracts

Samples: Loan and Security Agreement, Loan and Security Agreement (Obalon Therapeutics Inc), Loan and Security Agreement (Everyday Health, Inc.)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. No late fee shall be charged on any payments not timely made to Bank solely due to Bank’s clerical or administrative error. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 3 contracts

Samples: Loan and Security Agreement (Vertro, Inc.), Loan and Security Agreement (Vertro, Inc.), Loan and Security Agreement (Miva, Inc.)

Late Fee; Default Rate. If any payment is not made within ten (10) 15 days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) % of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All outstanding Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) 5 percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 3 contracts

Samples: Loan and Security Agreement (Kaleido Biosciences, Inc.), Loan and Security Agreement (Unum Therapeutics, Inc.), Loan and Security Agreement (Unum Therapeutics, Inc.)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower Borrowers shall pay Bank a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law, not in any case to be less than Twenty-Five Dollars ($25.00). All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 3 contracts

Samples: Loan and Security Agreement (Winc, Inc.), Loan and Security Agreement (Winc, Inc.), Loan and Security Agreement (Spark Networks Inc)

Late Fee; Default Rate. If any payment is not made within ten five (105) days after the date such payment is due, Borrower shall pay Bank Lender a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 2 contracts

Samples: Loan and Security Agreement (Roka BioScience, Inc.), Loan and Security Agreement (Roka BioScience, Inc.)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (ia) five percent (5%) of the amount of such unpaid amount or (iib) the maximum amount permitted to be charged under applicable law, not in any case to be less than Twenty-Five Dollars ($25.00). All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 2 contracts

Samples: Loan and Security Agreement (Inari Medical, Inc.), Loan and Security Agreement (Inari Medical, Inc.)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five four percent (54%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five four (54) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 2 contracts

Samples: Loan and Security Agreement, Loan and Security Agreement (Legalzoom Com Inc)

Late Fee; Default Rate. If any payment is not made within ten (10) 10 days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) 5.00% of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law, but not less than $5.00. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 2 contracts

Samples: Loan and Security Agreement (Max International Inc), Loan and Security Agreement (Max International Inc)

Late Fee; Default Rate. If any payment is not made within ten (10) days Business Days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 2 contracts

Samples: Loan and Security Agreement (Optex Systems Holdings Inc), Loan and Security Agreement (Genoptix Inc)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law, not in any case to be less than Twenty-Five Dollars ($25.00). All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 2 contracts

Samples: Loan and Security Agreement (Cytosorbents Corp), Loan and Security Agreement (Cytosorbents Corp)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, then at Bank’s option, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at Bank’s option, at a rate equal to five three (53) percentage points above the interest rate applicable immediately prior to the occurrence of the such Event of Default.

Appears in 2 contracts

Samples: Loan and Security Agreement (Five9, Inc.), Loan and Security Agreement (Five9, Inc.)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (55.00%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law, not in any case to be less than Twenty-Five Dollars ($25.00). All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points (5.00%) above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 2 contracts

Samples: Loan and Security Agreement (908 Devices Inc.), Loan and Security Agreement (908 Devices Inc.)

Late Fee; Default Rate. If any payment is not made within ten five (105) days Business Days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) % of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 2 contracts

Samples: Loan and Security Agreement (Us Search Corp Com), Loan and Security Agreement (Us Search Corp Com)

Late Fee; Default Rate. If At the election of Bank, if any payment is not made within ten (10) days after the date such payment is due, Borrower Borrowers shall pay Bank a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law, not in any case to be less than Twenty-Five Dollars ($25). All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 2 contracts

Samples: Loan and Security Agreement (ThredUp Inc.), Loan and Security Agreement (ThredUp Inc.)

Late Fee; Default Rate. If any payment is not made within ten (10) 10 days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All At Bank’s option, all Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 2 contracts

Samples: Loan and Security Agreement (Wind Power Holdings Inc), Loan and Security Agreement (Wind Power Holdings Inc)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank Lender a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five seventeen percent (517%) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Defaultper annum.

Appears in 2 contracts

Samples: Convertible Loan and Security Agreement (Lc Capital Master Fund LTD), Convertible Loan and Security Agreement (Vuzix Corp)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the an Event of Default.

Appears in 2 contracts

Samples: Loan and Security Agreement (Uol Publishing Inc), Loan and Security Agreement (Freeshop Com Inc)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower Borrowers shall pay Bank a late fee equal to the lesser of (i) five four percent (54%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law, not in any case to be less than $25.00. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five four (54) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 2 contracts

Samples: Loan and Security Agreement (Identiv, Inc.), Loan and Security Agreement (Identiv, Inc.)

Late Fee; Default Rate. If any payment is not made within ten (10) 15 days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) 3% of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) 5 percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 2 contracts

Samples: Loan and Security Agreement (SendGrid, Inc.), Loan and Security Agreement (SendGrid, Inc.)

Late Fee; Default Rate. If any payment is not made within ten (10) 10 days after the date such payment is due, Borrower Borrowers shall pay Bank a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 2 contracts

Samples: Loan and Security Agreement (Upland Software, Inc.), Loan and Security Agreement (Upland Software, Inc.)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) % of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to the lesser of (y) five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of DefaultDefault or (z) the maximum amount permitted to be charged under applicable law.

Appears in 2 contracts

Samples: Loan and Security Agreement (Evolve Software Inc), Loan and Security Agreement (Evolve Software Inc)

Late Fee; Default Rate. If any payment is not made within ten fifteen (1015) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) % of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 2 contracts

Samples: Loan and Security Agreement (Liquidia Technologies Inc), Loan and Security Agreement (Liquidia Technologies Inc)

Late Fee; Default Rate. If any payment is not made within ten (10) days 10 Business Days after the date such payment is due, Borrower Borrowers shall pay Bank a late fee equal to the lesser of (i) five percent (5%) % of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) 5 percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 2 contracts

Samples: Loan and Security Agreement (Convio, Inc.), Loan and Security Agreement (Convio, Inc.)

Late Fee; Default Rate. If any payment is not made within ten (10) 15 days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) % of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) 5 percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.,

Appears in 2 contracts

Samples: Loan and Security Agreement (Oxford Immunotec Global PLC), Loan and Security Agreement (Oxford Immunotec Global PLC)

Late Fee; Default Rate. If any payment is not made within ten (10) 15 days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) % of the amount of such unpaid amount late payment or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) 5 percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 2 contracts

Samples: Loan and Security Agreement (Marinus Pharmaceuticals Inc), Loan and Security Agreement (Marinus Pharmaceuticals Inc)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law, not in any case to be less than $25.00. All Obligations shall bear interest, interest from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Codexis Inc)

Late Fee; Default Rate. If any payment is not made within ten (10) 15 days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) % of the amount of such unpaid amount amount, or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) 5 percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Heat Biologics, Inc.)

Late Fee; Default Rate. If any payment of an Obligation hereunder is not made within ten (10) 10 days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five three percent (53%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations Advances shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five three (53) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan Agreement (Scientific Learning Corp)

Late Fee; Default Rate. If any payment is not made within ten (10) 15 days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.of

Appears in 1 contract

Samples: Loan and Security Agreement (LOCAL.COM)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law, not in any case to be less than Twenty-Five Dollars ($25). All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate (the “Default Rate”) equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan Agreement (TechTarget Inc)

Late Fee; Default Rate. If any payment is not made within ten (10) days 10 Business Days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) % of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) 5 percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Liposcience Inc)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower Borrowers shall pay Lender Bank a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Pac-West Telecomm Inc)

Late Fee; Default Rate. If any payment is not made within ten (10) 10 days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate otherwise applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (GCT Semiconductor Inc)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (55.00%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law, not in any case to be less than Twenty-Five Dollars ($25). All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.. WEST\291919990.7

Appears in 1 contract

Samples: Loan and Security Agreement (Silk Road Medical Inc)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) 1% of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five three (53) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Electroglas Inc)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to the lesser of (i) five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of DefaultDefault or (ii) the maximum amount permitted to be charged under applicable law.

Appears in 1 contract

Samples: Loan and Security Agreement (Patient Infosystems Inc)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after ten (10) days following the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Iphysician Net Inc)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser greater of (i) five six percent (56%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable lawFive Dollars ($5.00). All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate (the "Default Rate") equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Cas Medical Systems Inc)

Late Fee; Default Rate. If any payment is not made within ten (10) 10 days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) % of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) 4 percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Traffic.com, Inc.)

Late Fee; Default Rate. If any payment is not made within ten ---------------------- (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five three (53%) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan Agreement (Logicvision Inc)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (55.00%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law, not in any case to be less than Twenty-Five Dollars ($25). All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Silk Road Medical Inc)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) % of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) 5 percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Nexsan Corp)

Late Fee; Default Rate. If any payment is not made within ten (10) 10 days after the date such payment is due, Borrower Borrowers shall pay Bank a late fee equal to the lesser of (i) five percent (5%) % of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) 2 percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Jamdat Mobile Inc)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, at the option of Bank, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations At the option of Bank, the outstanding principal amount of the Advances shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five three (53) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Bladelogic Inc)

Late Fee; Default Rate. If any payment is not made within ten ---------------------- (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the an Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Pointshare Corp)

Late Fee; Default Rate. If any payment is not made within ten (10) 15 days after the date such payment is due, Borrower shall pay to Bank a late fee equal to the lesser of (i) five percent (5%) % of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) three percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan Agreement (PogoTec, Inc.)

Late Fee; Default Rate. If any payment is not made within ten five (105) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (55.00%) of the amount of such unpaid amount or and (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five six percent (56.00%) percentage points above the interest rate Interest Rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (CNL Strategic Capital, LLC)

AutoNDA by SimpleDocs

Late Fee; Default Rate. If any payment is not made within ten (10) 15 days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) % of the amount of such unpaid amount or and (ii) the maximum amount permitted to be charged under applicable law. All outstanding Obligations shall shall, at Bank’s option, bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) 5 percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Allena Pharmaceuticals, Inc.)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five three percent (53%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Upon notice from Bank (which notice may be retroactive to the date of the applicable Event of Default) all Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five three (53) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan Agreement (Lime Energy Co.)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a per annum rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Media Arts Group Inc)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (55.00%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under all applicable lawlaws and regulations, not in any case to be less than Twenty-Five Dollars ($25). All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (BlackSky Technology Inc.)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable lawlaw (the “Default Rate”). All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five three (53%) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan Agreement (Logicvision Inc)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after upon the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Lynx Therapeutics Inc)

Late Fee; Default Rate. If any payment is not made ------------------------- within ten (10) 10 days after the date such payment is due, Borrower shall pay Bank Lender a late fee equal to the lesser of (i) five percent (5%) % of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Citadel Security Software Inc)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower Borrowers shall pay Bank a late fee equal to the lesser of (i) five percent (5%) % of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.percentage

Appears in 1 contract

Samples: Loan and Security Agreement (Inphonic Inc)

Late Fee; Default Rate. If any payment is not made within ten (10) 10 days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser littlest of (i) five percent (5%) % of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged charge under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) 5 percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Infinera Corp)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law, not in any case to be less than Twenty Five Dollars ($25). All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (6d Bytes Inc.)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank Lender a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five eighteen and one half of one percent (518.5%) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Defaultper annum.

Appears in 1 contract

Samples: Convertible Loan and Security Agreement (Vuzix Corp)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower Borrowers shall pay Bank a late fee equal to the lesser of (i) five six percent (56%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law, not in any case to be less than $5.00. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Silvaco Group, Inc.)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Array Biopharma Inc)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law, not in any case to be less than $25.00. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default, unless the Bank otherwise elects, from time to time, at its sole discretion to impose a smaller increase.

Appears in 1 contract

Samples: Loan and Security Agreement (Bridgeline Digital, Inc.)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five two percent (52%) of the amount WEST\258936541.7 of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Maxwell Technologies Inc)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank (in addition to the increased interest provided for in the following sentence) a late fee equal to the lesser of (i) five two percent (52%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable lawoverdue payment. All Obligations that are outstanding shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the such Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Orchard Enterprises, Inc.)

Late Fee; Default Rate. If any payment due hereunder is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) % of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Vastera Inc)

Late Fee; Default Rate. If any payment of an Obligation hereunder is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five three percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations Advances shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five three (53) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Scientific Learning Corp)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. law All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Upek Inc)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (55.00%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (CareDx, Inc.)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five three percent (53%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five three percent (53%) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Spy Optic Inc)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five three (53) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Tippingpoint Technologies Inc)

Late Fee; Default Rate. If any payment is not made within ten (10) 15 days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Igi Laboratories, Inc)

Late Fee; Default Rate. If any payment is not made within ten (10) 15 days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) % of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) 3 percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Precision Biosciences Inc)

Late Fee; Default Rate. If any payment is not made within ten (10) calendar days after the date such payment is due, Borrower Borrowers shall pay Bank a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan Agreement (Safeguard Scientifics Inc Et Al)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank Lender a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law, not in any case to be less than Twenty-Five Dollars ($25.00). All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five two (52) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Qumu Corp)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five two percent (52%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Maxwell Technologies Inc)

Late Fee; Default Rate. If any payment is not made within ten (10) 15 days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) [***]% of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) [***] percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (TheRealReal, Inc.)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (55.00%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable lawlaw (the “Default Rate”). All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (NephroGenex, Inc.)

Late Fee; Default Rate. If any payment is not made ---------------------- within ten (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five three (53%) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Logicvision Inc)

Late Fee; Default Rate. If any payment is not made within ten (10) days after on the date such payment is due, Borrower Borrowers shall pay Bank a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Implant Sciences Corp)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (55.0%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (NTN Buzztime Inc)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) % of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Nuvasive Inc)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (55.00%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law, not in any case to be less than Twenty-Five Dollars ($25). All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points (5.00%) above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (908 Devices Inc.)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (55.00%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law, but not less than Five Dollars ($5.00). All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Thayer Ventures Acquisition Corp)

Late Fee; Default Rate. If any payment is not made within ten (10) 10 days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) % of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five the lesser of (5A) 4 percentage points above the interest rate applicable immediately prior to the occurrence of the Event of DefaultDefault or (B) the maximum amount permitted to be charged under applicable law.

Appears in 1 contract

Samples: Loan and Security Agreement (Smartbargains, Inc.)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five three percent (53%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of DefaultDefault and after written notification to Borrower, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Crystal Decisions Inc)

Late Fee; Default Rate. If Except if waived by Bank after explanation by Borrower, if any payment is not made within ten (10) 10 days after the date such payment is due, Borrower shall pay to Bank a late fee equal to the lesser of (i) five percent (5%) 2% of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) 2 percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (NeuroMetrix, Inc.)

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate rate, equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Align Technology Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!