Common use of Overadvance Payment Clause in Contracts

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, and subject to the restrictions in Section 5(a)(iv) hereof, hereunder in the event the Loans exceed the Formula Amount (each such event, an “Overadvance”"OVERADVANCE"), all such Overadvances Overadvances, other than the Overadvance made on the date hereof , 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.

Overadvance Payment. Without affecting Laurus’ ' rights hereunder, and subject to the restrictions in Section 5(a)(iv) hereof, hereunder in the event the Loans exceed the Formula Amount (each such event, an “Overadvance”"OVERADVANCE"), all such Overadvances Overadvances, other than the Overadvance made on the date hereof , 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.