Non-Compliance Fee. To the extent any of the foregoing items in this Section 6.1 are not delivered to Lender on a timely basis, Borrower shall be obligated to Lender for a daily fee equal to the greater of (i) $500, or (ii) five one-hundredths of one percent (0.05%) of the then current outstanding principal balance of the Obligations, for each day until such item is delivered to Lender, whether or not a Default or Event of Default occurs or is declared, provided that nothing shall prevent Lender from considering any failure to comply with the terms of this Section 6.1 to be a Default or an Event of Default.
Appears in 8 contracts
Samples: Revolving Credit and Security Agreement (Millstream Acquisition Corp), Revolving Credit and Security Agreement (NationsHealth, Inc.), Revolving Credit and Security Agreement (Millstream Acquisition Corp)
Non-Compliance Fee. To the extent any of the foregoing items in this Section 6.1 are not delivered to Lender on a timely basis, Borrower shall be jointly and severally obligated to Lender, without prior notice by Lender to Borrower, for a daily fee equal to the greater of (i) $500, or (ii) five one-hundredths of one percent (0.05%) of the then current outstanding principal balance of the Obligations, for each day until such item is delivered to Lender, whether or not a Default or Event of Default occurs or is declared, provided that nothing shall prevent Lender from considering any failure to comply with the terms of this Section 6.1 to be a Default or an Event of Default.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Occupational Health & Rehabilitation Inc)
