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 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.
Appears in 8 contracts
Samples: Security Agreement (Pacific Cma Inc), Security Agreement (RG America, Inc.), Security Agreement (Thinkpath Inc)
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 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.
Appears in 5 contracts
Samples: Security Agreement (Stonepath Group Inc), Security Agreement (Elandia International Inc.), Security Agreement (Path 1 Network Technologies Inc)
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 additional interest at a rate equal to two one percent (21%) 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.
Appears in 4 contracts
Samples: Security Agreement (Accentia Biopharmaceuticals Inc), Security and Purchase Agreement (Stockeryale Inc), Security and Purchase Agreement (Jagged Peak, Inc.)
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 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)(ii5(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.
Appears in 3 contracts
Samples: Security Agreement (Deja Foods Inc), Security and Purchase Agreement (Xstream Beverage Network, Inc.), Security and Purchase Agreement (Greenman Technologies Inc)
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 additional interest at a rate equal to two one and one half percent (21.5%) 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)(ii5(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.
Appears in 2 contracts
Samples: Security and Purchase Agreement (Naturade Inc), Security Agreement (Impart Media Group Inc)
Overadvance Payment. Without affecting Laurus' ’ rights hereunder in the event the Revolving 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)(ii5(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.
Appears in 1 contract
Samples: Security Agreement (American Technologies Group Inc)
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 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)(ii5(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.
Appears in 1 contract
Samples: Security Agreement (General Environmental Management, Inc)
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 additional interest at a rate equal to two one and one half percent (21.5%) 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)(ii5(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.
Appears in 1 contract
Overadvance Payment. Without affecting Laurus' rights hereunder in the event the Loans exceed the Formula Amount (each such event, an "OveradvanceOVERADVANCE"), 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)(ii5(c)(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.
Appears in 1 contract
Samples: Security Agreement (Thinkpath Inc)
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 additional interest at a rate equal to two one and one half percent (21.5%) 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.
Appears in 1 contract
Samples: Security Agreement (Gse Systems Inc)
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 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)(ii5(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.
Appears in 1 contract
Samples: Security Agreement (Iwt Tesoro Corp)
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 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 Revolving Term.
Appears in 1 contract
Samples: Security and Purchase Agreement (Micro Component Technology Inc)
Overadvance Payment. Without affecting Laurus' ’ rights hereunder in the event the Revolving 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 Security and Purchase Agreement 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.
Appears in 1 contract
Samples: Security and Purchase Agreement (Silicon Mountain Holdings, Inc.)
Overadvance Payment. Without affecting Laurus' ’ rights hereunder in the event the Loans exceed the Formula Amount (each such eventamount, an "“Overadvance"”), all such Overadvances shall bear additional interest at a rate equal to two one and a half percent (21.5%) 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)(ii5(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.
Appears in 1 contract
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 additional interest at a rate equal to two five percent (25%) per month of annum above the amount of such Overadvances Contract Rate for all times such amounts shall be in excess of the Formula Amount. All amounts that are incurred pursuant to this Section 5(b)(ii5(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.
Appears in 1 contract
Samples: Security Agreement (Iwt Tesoro Corp)
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 additional interest at a rate equal to two one-half percent (20.5%) 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.
Appears in 1 contract
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 additional interest at a rate equal to two three quarters of one percent (20.75%) 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.
Appears in 1 contract
