Common use of Minimum Interest Charge Clause in Contracts

Minimum Interest Charge. In any event, even upon full prepayment of this Note, Xxxxxxxx understands that Lender is entitled to a minimum interest charge of $10.00. Other than Borrower’s obligations to pay any minimum interest charge, Borrower may pay without penalty all or a portion of the amount earlier than it is due. Early payments will not, unless agreed to by Xxxxxx in writing, relieve Xxxxxxxx of Xxxxxxxx’s obligation to continue to make payments of accrued unpaid interest. Rather, early payment will reduce the principal balance due. Xxxxxxxx agrees not to send Lender payments marked “paid in full”, “without recourse”, or similar language. If Borrower sends such a payment, Xxxxxx may accept it without losing any of Xxxxxx’s rights under this Note, and Borrower will remain obligated to pay any further amount owed to Lender. All written communications concerning disputed amounts, including any check or other payment instrument that indicates that the payment constitutes “payment in full” of the amount owed or that is tendered with other conditions or limitations or as full satisfaction of a disputed amount must be mailed or delivered to: Minnesota Bank & Trust, 0000 Xxxx Xxxx Xxxx, Xxxxx 000, Xxxxxxxxxx, XX 00000.

Minimum Interest Charge. In any event, even upon full prepayment of this Note, Xxxxxxxx understands that Lender is entitled to a minimum interest charge of $10.00. Other than Borrower’s obligations to pay any minimum interest charge, Borrower may pay without penalty all or a portion of the amount earlier than it is due. Early payments will not, unless agreed to by Xxxxxx in writing, relieve Xxxxxxxx of Xxxxxxxx’s obligation to continue to make payments of accrued unpaid interest. Rather, early payment will reduce the principal balance due. Xxxxxxxx agrees not to send Lender payments marked “paid in full”, “without recourse”, or similar language. If Borrower sends such a payment, Xxxxxx may accept it without losing any of Xxxxxx’s rights under this Note, and Borrower will remain obligated to pay any further amount owed to Lender. All written communications concerning disputed amounts, including any check or other payment instrument that indicates that the payment constitutes “payment in full” of the amount owed or that is tendered with other conditions or limitations or as full satisfaction of a disputed amount must be mailed or delivered to: Minnesota Bank & Trust, 0000 Xxxx Xxxx XxxxXxxxxx Xxxxxx Xxxxx, Xxxxx 000, XxxxxxxxxxXxxxx, XX 00000.

Minimum Interest Charge. In any event, even upon full prepayment of this Note, Xxxxxxxx Bxxxxxxx understands that Lender is entitled to a minimum interest charge of $10.00. Other than Borrower’s obligations to pay any minimum interest charge, Borrower may pay without penalty all or a portion of the amount earlier than it is due. Early payments will not, unless agreed to by Xxxxxx Lxxxxx in writing, relieve Xxxxxxxx Bxxxxxxx of XxxxxxxxBxxxxxxx’s obligation to continue to make payments of accrued unpaid interest. Rather, early payment will reduce the principal balance due. Xxxxxxxx Bxxxxxxx agrees not to send Lender payments marked “paid in full”, “without recourse”, or similar language. If Borrower sends such a payment, Xxxxxx Lxxxxx may accept it without losing any of XxxxxxLxxxxx’s rights under this Note, and Borrower will remain obligated to pay any further amount owed to Lender. All written communications concerning disputed amounts, including any check or other payment instrument that indicates that the payment constitutes “payment in full” of the amount owed or that is tendered with other conditions or limitations or as full satisfaction of a disputed amount must be mailed or delivered to: Minnesota Bank & Trust, 0000 Xxxx Xxxx Xxxx7000 Xxxxxx Xxxxxx Xxxxx, Xxxxx 000, XxxxxxxxxxXxxxx, XX 00000.

Minimum Interest Charge. In any event, even upon full prepayment of this Note, Xxxxxxxx Borrower understands that Lender is entitled to a minimum interest charge of $10.0015.00. Other than Borrower’s obligations to pay any minimum interest charge, Borrower may pay without penalty all or a portion of the amount earlier than it is due. Early payments will not, unless agreed to by Xxxxxx in writing, relieve Xxxxxxxx of Xxxxxxxx’s obligation to continue to make payments of accrued unpaid interest. Rather, early payment will reduce the principal balance due. Xxxxxxxx agrees not to send Lender payments marked “paid in full”, “without recourse”, or similar language. If Borrower sends such a payment, Xxxxxx may accept it without losing any of Xxxxxx’s rights under this Note, and Borrower will remain obligated to pay any further amount owed to Lender. All written communications concerning disputed amounts, including any check or other payment instrument that indicates that the payment constitutes “payment in full” of the amount owed or that is tendered with other conditions or limitations or as full satisfaction of a disputed amount must be mailed or delivered to: Minnesota Bank & Trust, 0000 Xxxx Xxxx Xxxx, Xxxxx 000, Xxxxxxxxxx, XX 00000.

Minimum Interest Charge. In any event, even upon full prepayment of this Note, Xxxxxxxx Borrower understands that Lender is entitled to a minimum interest charge of $10.0015.00. Other than Borrower’s obligations to pay any minimum interest charge, Borrower may pay without penalty all or a portion of the amount earlier than it is due. Early payments will not, unless agreed to by Xxxxxx in writing, relieve Xxxxxxxx of Xxxxxxxx’s obligation to continue to make payments of accrued unpaid interest. Rather, early payment will reduce the principal balance due. Xxxxxxxx agrees not to send Lender payments marked “paid in full”, “without recourse”, or similar language. If Borrower sends such a payment, Xxxxxx may accept it without losing any of Xxxxxx’s rights under this Note, and Borrower will remain obligated to pay any further amount owed to Lender. All written communications concerning disputed amounts, including any check or other payment instrument that indicates that the payment constitutes “payment in full” of the amount owed or that is tendered with other conditions or limitations or as full satisfaction of a disputed amount must be mailed or delivered to: Minnesota Bank & Trust, 0000 Xxxx Xxxx Xxxx, Xxxxx 000, Xxxxxxxxxx, XX 00000.. Late Charge. If a payment due hereunder is not made within seven days after the date when due, Borrower shall pay to Lender a late payment charge of 5% of the amount of the overdue payment to compensate Lender for a portion of the cost related to handling the overdue payment. Interest After Default. Upon the occurrence and during the continuance of an Event of Default, DocuSign Envelope ID: 69945E55-E085-477C-94DE-5F8DF61BA41E

Minimum Interest Charge. In any event, even upon full prepayment of this Note, Xxxxxxxx Maker understands that Lender Xxxxxx is entitled to a minimum interest charge of $10.00. Other than BorrowerMaker’s obligations to pay any minimum interest charge, Borrower Maker may pay without penalty all or a portion of the amount earlier than it is due. Early payments will not, unless agreed to by Xxxxxx in writing, relieve Xxxxxxxx Maker of XxxxxxxxMaker’s obligation to continue to make payments of accrued unpaid interest. Rather, early payment will reduce the principal balance due. Xxxxxxxx Xxxxx agrees not to send Lender payments marked “paid in full”, “without recourse”, or similar language. If Borrower Maker sends such a payment, Xxxxxx may accept it without losing any of Xxxxxx’s rights under this Note, and Borrower Maker will remain obligated to pay any further amount owed to Lender. All written communications concerning disputed amounts, including any check or other payment instrument that indicates that the payment constitutes “payment in full” of the amount owed or that is tendered with other conditions or limitations or as full satisfaction of a disputed amount must be mailed or delivered to: Minnesota Bank & Trust, 0000 Xxxx Xxxx Xxxx, Xxxxx 000, Xxxxxxxxxx, XX 00000.

Minimum Interest Charge. In any event, even upon full prepayment of this Note, Xxxxxxxx understands Borrowers understand that Lender Xxxxxx is entitled to a minimum interest charge of $10.00. Other than Borrower’s Borrowers’ joint and several obligations to pay any minimum interest charge, Borrower Borrowers may pay without penalty all or a portion of the amount earlier than it is due. Early payments will not, unless agreed to by Xxxxxx in writing, relieve Xxxxxxxx Borrowers of Xxxxxxxx’s Borrowers’ obligation to continue to make payments of accrued unpaid interest. Rather, early payment will reduce the principal balance due. Xxxxxxxx Xxxxxxxxx agrees not to send Lender payments marked “paid in full”, “without recourse”, or similar language. If Borrower sends Borrowers send such a payment, Xxxxxx Lender may accept it without losing any of Xxxxxx’s rights under this Note, and Borrower Borrowers will remain jointly and severally obligated to pay any further amount owed to Lender. All written communications concerning disputed amounts, including any check or other payment instrument that indicates that the payment constitutes “payment in full” of the amount owed or that is tendered with other conditions or limitations or as full satisfaction of a disputed amount must be mailed or delivered to: Minnesota Bank & Trust, 0000 Xxxx Xxxx XxxxXxxxxx Xxxxxx Xxxxx, Xxxxx 000, XxxxxxxxxxXxxxx, XX 00000.