Overadvance Payment Sample Clauses

Overadvance Payment. Without affecting Laurus' rights hereunder in the event the Loans exceed the Formula Amount (each such event, an "Overadvance"), all such Overadvances shall bear interest at an annual rate equal to two percent (2%) of the amount of such Overadvances for each month or portion thereof such amounts shall be outstanding and in excess of the Formula Amount.

Overadvance Payment. Without affecting Laurus' rights hereunder in the event the Loans exceed the amounts permitted by Section 2 ("Overadvances"), in the event an Overadvance occurs all such Overadvances shall bear interest at an annual rate equal to five percent (5%) in excess of the then applicable Contract Amount for each month or portion thereof as such amounts shall be outstanding.

Overadvance Payment. Without affecting the Company's obligation to immediately repay any Loans which exceed the amounts permitted by Section 2 ("Overadvances"), in the event an Overadvance occurs, all such Overadvances shall bear interest at a monthly rate equal to 2% of the amount of such Overadvances for each month or portion thereof as such amounts shall be outstanding.

Overadvance Payment. Without affecting Laurus’ rights hereunder, and subject to the restrictions in Section 5(a)(iv) hereof, in the event the Loans exceed the Formula Amount (each such event, an “Overadvance”), all such Overadvances shall bear additional interest at a rate equal to two percent (2%) per month of the amount of such Overadvances for all times such amounts shall be in excess of the Formula Amount. All amounts that are incurred pursuant to this Section 5(b)(ii) shall be due and payable by the Companies monthly, in arrears, on the first business day of each calendar month and upon expiration of the Term.

Overadvance Payment. Without affecting Laurus’ rights hereunder in the event (x) the Loans exceed the Formula Amount (each such event, an “Overadvance”) without the written consent of Laurus, all such Overadvances shall bear additional interest at a rate of 1.0% per month for all times such amounts shall be in excess of the Formula Amount and (y) an Overadvance exists following the receipt by the Companies of the written consent of Laurus, all such Overadvances shall bear additional interest at a rate mutually acceptable to Laurus and Parent for all times such amounts shall be in excess of the Formula Amount. All amounts that are incurred pursuant to this Section 5(b)(iii) shall be due and payable by the Companies monthly, in arrears, on the first business day of each calendar month and upon expiration of the Term.

Overadvance Payment. Without affecting the Lenders’ rights hereunder, each Overadvance shall bear additional interest at a rate equal to one percent (1%) per month of the amount of such Overadvance for all times such amounts shall be in excess of the Formula Amount. All amounts that are incurred pursuant to this Section 5(b)(iii) shall be due and payable by the Companies monthly, in arrears, on the first business day of each calendar month and upon expiration of the Term.

Overadvance Payment. Without affecting Laurus' rights hereunder in the event the Revolving Loans exceed the Formula Amount (each such event, an "Overadvance"), and Laurus elects to exercise its rights under Section 2.1(b) to make an Overadvance to the Company, all such Overadvances shall bear additional interest at a rate equal to two percent (2%) per month of the amount of such Overadvances for all times such amounts shall be in excess of the Formula Amount. Unless otherwise specified by Laurus in writing, all amounts that are incurred pursuant to this Section 5.2(b) shall be due and payable by the Company monthly, in arrears, on the first business day of each calendar month and upon expiration of the Term.

Overadvance Payment. Without affecting Laurus’ rights hereunder, but subject to Section 2(a) and the provisos to subsections (w) and (l) of the definitions of “Eligible Accounts” and “Eligible Inventory”, respectively, in the event the Loans exceed the Formula Amount (each such event, an “Overadvance”), all such Overadvances shall bear interest (in lieu of the regularly scheduled interest set forth in the respective Note) at a rate equal to one and one half percent (1.5%) per month of the amount of such Overadvances for all times such amounts shall be in excess of the Formula Amount. All amounts that are incurred pursuant to this Section 5(b)(ii) shall be due and payable by the Companies monthly, in arrears, on the first business day of each calendar month and upon expiration of the Term.

Overadvance Payment. Without affecting Lender’s rights hereunder in the event the Loans exceed the Formula Amount and such excess is not a Permitted Overadvance (each such event, an “Unpermitted Overadvance”), the amounts which the Unpermitted Overadvance exceeds the Formula Amount (the “Overadvance Amount”) all such Overadvances shall bear additional interest at a rate equal to two percent (2%) per annum for all times that the Overadvance Amount shall be in excess of the Formula Amount. All interest amounts that are incurred pursuant to this Section 5(b)(ii) shall be due and payable by the Companies monthly, in arrears, on the first business day of each calendar month and upon expiration of the Term.