Overadvances. It at any time, the outstanding principal amount of any Advances exceeds the lesser of either the Revolving Line or the Borrowing Base (such sum being an “Overadvance”), Borrower shall immediately pay to Bank in cash such excess. Without limiting Borrower’s obligation to repay Bank any amount of the Overadvance, Borrower agrees to pay Bank interest on the outstanding amount of any Overadvance, on demand, at the Default Rate.
Appears in 4 contracts
Samples: Loan and Security Agreement, Loan and Security Agreement (Marin Software Inc), Loan and Security Agreement (Marin Software Inc)
Overadvances. It If, at any time, the outstanding principal amount of any Advances exceeds the lesser of either the Revolving Line Maximum Dollar Amount or the Borrowing Base (such sum excess being an “Overadvance”), Borrower shall immediately pay to Bank in cash such excessOveradvance. Without limiting Borrower’s obligation to repay Bank any amount of the Overadvance, Borrower agrees to pay Bank interest on the outstanding amount of any Overadvance, on demand, at the Default Rate.
Appears in 3 contracts
Samples: Loan and Security Agreement (Rubicon Project, Inc.), Loan and Security Agreement (Derycz Scientific Inc), Loan and Security Agreement (DecisionPoint Systems, Inc.)
Overadvances. It If, at any time, the outstanding aggregate principal amount of any the Advances exceeds the lesser of either the Revolving Line or the Borrowing Base (such sum excess being an “Overadvance”), Borrower shall immediately pay to Bank in cash the amount of such excessOveradvance. Without limiting Borrower’s obligation to repay Bank any amount of the Overadvance, Borrower agrees to pay Bank interest on the outstanding amount of any Overadvance, on demand, at the Default Rate.
Appears in 2 contracts
Samples: Loan and Security Agreement (Corium International, Inc.), Loan and Security Agreement (Corium International, Inc.)
Overadvances. It If, at any time, the outstanding principal amount of any Advances exceeds the lesser of either the Maximum Revolving Line or the Borrowing Base (such sum excess being an “Overadvance”), Borrower shall immediately pay to Bank in cash such excessOveradvance. Without limiting Borrower’s obligation to repay Bank any amount of the Overadvance, Borrower agrees to pay Bank interest on the outstanding amount of any Overadvance, on demand, at the Default Rate.
Appears in 2 contracts
Samples: Loan and Security Agreement (Lantronix Inc), Loan and Security Agreement (Lantronix Inc)
Overadvances. It If, at any time, the outstanding principal amount of any the aggregate Advances exceeds the lesser of either the Revolving Line or the Borrowing Base (such sum being an “Overadvance”)Base, Borrower shall immediately pay to Bank in cash the amount of such excess (such excess, the “Overadvance”). Without limiting Borrower’s ’ s obligation to repay Bank any amount of the Overadvance, Borrower agrees to pay Bank interest on the outstanding amount of any Overadvance, on demand, at the Default Rate.
Appears in 2 contracts
Samples: Loan and Security Agreement (Sensus Healthcare, Inc.), Loan and Security Agreement (Sensus Healthcare, LLC)
Overadvances. It If, at any time, the outstanding principal amount of any Advances exceeds the lesser of either the Revolving Line or the Borrowing Base (such sum being an “Overadvance”)Base, Borrower shall immediately pay to Bank in cash the amount of such excess (such excess, the “Overadvance”). Without limiting Borrower’s obligation to repay Bank any amount of the Overadvance, Borrower Xxxxxxxx agrees to pay Bank interest on the outstanding amount of any Overadvance, on demand, at a per annum rate equal to the Default Raterate that is otherwise applicable to Advances plus five percent (5.0%).
Appears in 2 contracts
Samples: Loan and Security Agreement (Weave Communications, Inc.), Loan and Security Agreement (Weave Communications, Inc.)
Overadvances. It If, at any time, the outstanding principal amount of any Advances (such amount being an “Overadvance”) exceeds the lesser of either the Revolving Line or the Borrowing Base (such sum being an “Overadvance”)Base, Borrower shall immediately pay to Bank in cash such excessOveradvance. Without limiting Borrower’s obligation to repay Bank any amount of the Overadvance, Borrower agrees to pay Bank interest on the outstanding amount of any Overadvance, on demand, at the Default Rate.”
Appears in 2 contracts
Samples: Loan and Security Agreement (Yodlee Inc), Loan and Security Agreement (Yodlee Inc)
Overadvances. It If, at any time, the sum of the outstanding principal amount of any Advances exceeds the lesser of either the Revolving Line or the Borrowing Base (such sum excess amount being an “Overadvance”), Borrower shall immediately pay to Bank in cash such excessOveradvance. Without limiting Borrower’s obligation to repay Bank any amount of the Overadvance, Borrower agrees to pay Bank interest on the outstanding amount of any Overadvance, on demand, at the Default Rate.
Appears in 2 contracts
Samples: Loan and Security Agreement (XRS Corp), Loan and Security Agreement (Xata Corp /Mn/)
Overadvances. It If, at any time, the outstanding principal amount of any Revolving Advances exceeds the lesser of either the Revolving Line or the Borrowing Base (such sum being an “Overadvance”)Base, Borrower shall immediately pay to Bank Lenders in cash the amount of such excess (such excess, the “Overadvance”). Without limiting Borrower’s obligation to repay Bank Lenders any amount of the Overadvance, Borrower agrees to pay Bank Lenders interest on the outstanding amount of any Overadvance, on demand, at the Default Rate.
Appears in 2 contracts
Samples: Loan and Security Agreement (SI-BONE, Inc.), Loan and Security Agreement (SI-BONE, Inc.)
Overadvances. It If, at any time, the outstanding principal amount of any Advances exceeds the lesser of either the Revolving Line or the Borrowing Base (such sum being an “Overadvance”), Borrower shall immediately pay to Bank in cash such excessOveradvance. Without limiting Borrower’s obligation to repay Bank any amount of the Overadvance, Borrower agrees to pay Bank interest on the outstanding amount of any Overadvance, on demand, at the Default Rate.
Appears in 2 contracts
Samples: Loan and Security Agreement (Encision Inc), Loan and Security Agreement (Encision Inc)
Overadvances. It If, at any time, the outstanding principal amount of any Advances exceeds the lesser of either the Revolving Line or the Borrowing Base (such sum being an “Overadvance”)Base, Borrower shall immediately pay to Bank in cash the amount of such excess (such excess, the “Overadvance”). Without limiting Borrower’s obligation to repay Bank any amount of the Overadvance, Borrower agrees to pay Bank interest on the outstanding amount of any Overadvance, on demand, at the Default Ratewithin two (2) days of written request therefor.
Appears in 2 contracts
Samples: Loan and Security Agreement (Workiva LLC), Loan and Security Agreement (Workiva LLC)
Overadvances. It If, at any time, the outstanding principal amount of any Advances exceeds the lesser of either the Revolving Line or the Borrowing Base (such sum being an “Overadvance”)Base, Borrower shall immediately pay to Bank in cash the amount of such excess (such excess, the “Overadvance”). Without limiting Borrower’s obligation to repay Bank any amount of the Overadvance, Borrower agrees to pay Bank interest on the outstanding amount of any Overadvance, on demand, at a per annum rate equal to the Default Raterate that is otherwise applicable to Advances plus four percent (4.0%).
Appears in 2 contracts
Samples: Loan and Security Agreement (Verrica Pharmaceuticals Inc.), Loan and Security Agreement (Cancer Genetics, Inc)
Overadvances. It If, at any time, the outstanding principal amount of any the Revolving Advances exceeds the lesser of either the Revolving Line or the Borrowing Base (such sum being an “Overadvance”)Line, Borrower shall immediately pay to Bank in cash the amount of such excess (such excess, the “Overadvance”). Without limiting Borrower’s obligation to repay Bank any amount of the Overadvance, Borrower agrees to pay Bank interest on the outstanding amount of any Overadvance, on demand, at the Default Rate.
Appears in 2 contracts
Samples: Loan and Security Agreement (Root, Inc.), Loan and Security Agreement (Root Stockholdings, Inc.)
Overadvances. It If, at any time, the outstanding principal amount of any Advances exceeds the lesser of either the Revolving Line or the Borrowing Base (such sum being an “Overadvance”)Base, Borrower shall immediately pay to Bank in cash the amount of such excess (such excess, the “Overadvance”). Without limiting Borrower’s obligation to repay Bank any amount of the Overadvance, Borrower agrees to pay Bank interest on the outstanding amount of any Overadvance, on demand, at a per annum rate equal to the Default Raterate that is otherwise applicable to Advances plus five percent (5%).
Appears in 2 contracts
Samples: Loan and Security Agreement (Tufin Software Technologies Ltd.), Loan and Security Agreement (Tufin Software Technologies Ltd.)
Overadvances. It If, at any time, the outstanding principal amount of any Advances exceeds the lesser of either the Revolving Line or the Borrowing Base (such sum being an “Overadvance”)Line, Borrower shall immediately pay to Bank in cash the amount of such excess (such excess, the “Overadvance”). Without limiting Borrower’s obligation to repay Bank any amount of the Overadvance, Borrower agrees to pay Bank interest on the outstanding amount of any Overadvance, on demand, at a per annum rate equal to the Default Raterate that is otherwise applicable to Advances plus five percent (5.0%) unless Bank elects to impose a lesser rate in its sole discretion.
Appears in 2 contracts
Samples: Loan and Security Agreement (Livongo Health, Inc.), Loan and Security Agreement (Livongo Health, Inc.)
Overadvances. It If, at any time, the outstanding principal amount of any the Advances exceeds the lesser of either the Revolving Line or the Borrowing Base (such sum being an “Overadvance”)Base, Borrower shall immediately pay to Bank in cash the amount of such excess (such excess, the “Overadvance”). Without limiting Borrower’s obligation to repay Bank any amount of the Overadvance, Borrower agrees to pay Bank interest on the outstanding amount of any Overadvance, on demand, at a per annum rate equal to the Default Raterate that is otherwise applicable to Advances plus five percent (5.00%).
Appears in 2 contracts
Samples: Loan and Security Agreement (Lantronix Inc), Loan and Security Agreement (Lantronix Inc)
Overadvances. It If, at any time, the outstanding principal amount of any Advances exceeds the lesser of either the Revolving Line Maximum Dollar Amount or the Borrowing Base (such sum excess being an “Overadvance”), Borrower shall immediately pay to Bank in cash such excessOveradvance. Without limiting Borrower’s obligation to repay Bank any amount of the Overadvance, Borrower agrees to pay Bank interest on the outstanding amount of any Overadvance, on demand, at the Default Rate.
Appears in 1 contract
Samples: Loan and Security Agreement (Research Solutions, Inc.)
Overadvances. It If, at any time, the sum of (a) the outstanding principal amount of any Advances (such sum being an “Overadvance”) exceeds the lesser of either the Revolving Line or the Borrowing Base (such sum being an “Overadvance”)Base, Borrower shall immediately pay to Bank in cash such excessOveradvance. Without limiting Borrower’s obligation to repay Bank any amount of the Overadvance, Borrower agrees to pay Bank interest on the outstanding amount of any Overadvance, on demand, at the Default Rate.
Appears in 1 contract
Samples: Loan and Security Agreement (Ramtron International Corp)
Overadvances. It If, at any time, the outstanding principal amount of any Advances exceeds the lesser of either the Revolving Line or the Borrowing Base (such sum being an “Overadvance”)Base, Borrower shall immediately pay to Bank in cash the amount of such excess (such excess, the “Overadvance”). Without limiting Borrower’s obligation to repay Bank any amount of the Overadvance, Borrower agrees to pay Bank interest on the outstanding amount of any Overadvance, on demand, at the Default RateRate (for clarity, an additional Default Rate on Overadvances will not be imposed pursuant to Section 2.5(b)).
Appears in 1 contract
Overadvances. It If, at any time, the outstanding principal amount of any the aggregate Advances exceeds the lesser of either the Revolving Line or the Borrowing Base (such sum being an “Overadvance”)Base, Borrower shall immediately pay to Bank in cash the amount of such excess (such excess, the “Overadvance”). Without limiting Borrower’s obligation to repay Bank any amount of the Overadvance, Borrower agrees to pay Bank interest on the outstanding amount of any Overadvance, on demand, at the Default Rate.
Appears in 1 contract
Samples: Loan and Security Agreement (Sensus Healthcare, Inc.)
Overadvances. It If, at any time, the outstanding principal amount of any Advances exceeds the lesser of either the Revolving Line or the Borrowing Base (such sum being an “Overadvance”)Base, Borrower shall immediately pay to Bank in cash the amount of such excess (such excess, the “Overadvance”). Without limiting Borrower’s obligation to repay Bank any amount of the Overadvance, Borrower agrees agrees, at the option of Bank, to pay Bank interest on the outstanding amount of any Overadvance, on demand, at the Default Rate.
Appears in 1 contract
Overadvances. It If, at any time, the outstanding principal amount of any Advances exceeds the lesser of either the Revolving Line or the Borrowing Base (such sum being an “Overadvance”)Base, Borrower shall immediately pay to Bank in cash the amount of such excess (such excess, the “Overadvance”). Without limiting Borrower’s obligation to repay Bank any amount of the Overadvance, Borrower agrees to pay Bank interest on the outstanding amount of any Overadvance, on demand, at a per annum rate equal to the Default Raterate that is otherwise applicable to Advances plus three percent (3.0%).
Appears in 1 contract
Overadvances. It If, at any time, the sum of (a) the outstanding principal amount of any Advances exceeds the lesser of either the Revolving Line or the Borrowing Base (such sum being an “Overadvance”)) exceeds the Revolving Line, Borrower shall immediately pay to Bank in cash such excessOveradvance. Without limiting Borrower’s obligation to repay Bank any amount of the Overadvance, Borrower agrees to pay Bank interest on the outstanding amount of any Overadvance, on demand, at the Default Rate.
Appears in 1 contract
Samples: Loan and Security Agreement (Ramtron International Corp)
Overadvances. It If, at any time, the outstanding principal amount of any Advances exceeds the lesser of either the Revolving Line or the Borrowing Base (such sum being an “Overadvance”)Availability Amount, Borrower shall immediately pay to Bank in cash the amount of such excess (such excess, the “Overadvance”). Without limiting BorrowerXxxxxxxx’s obligation to repay Bank any amount of the Overadvance, Borrower Xxxxxxxx agrees to pay Bank interest on the outstanding amount of any Overadvance, on demand, at a per annum rate equal to the Default Raterate that is otherwise applicable to Advances plus three percent (3.0%).
Appears in 1 contract
Overadvances. It If, at any time, the outstanding principal amount of any Advances exceeds the lesser of either the Revolving Line or the Borrowing Base (such sum being an “Overadvance”)Base, Borrower shall immediately pay to Bank Bank, on demand, in cash the amount of such excess (such excess, the “Overadvance”). Without limiting Borrower’s obligation to repay Bank any amount of the Overadvance, at Bank’s option, in its sole discretion, Borrower agrees to pay Bank interest on the outstanding amount of any Overadvance, on demand, at the Default Rate.
Appears in 1 contract
Overadvances. It If, at any time, the outstanding principal amount of any Advances exceeds the lesser of either the Revolving Line or the Borrowing Base (such sum being an “Overadvance”)Base, Borrower shall immediately pay to Bank in cash the amount of such excessexcess (such excess amount being an “Overadvance”). Without limiting Borrower’s obligation to repay Bank any amount of the Overadvance, Borrower agrees to pay Bank interest on the outstanding amount of any Overadvance, on demand, at the Default Rate.
Appears in 1 contract
Overadvances. It If, at any time, the aggregate outstanding principal amount of any the Advances exceeds the lesser of either the Revolving Line or the Borrowing Base (such sum being an “Overadvance”)Line, Borrower shall immediately pay to Bank in cash the amount of such excess (such excess, the “Overadvance”). Without limiting Borrower’s obligation to repay Bank any amount of the Overadvance, Borrower agrees to pay Bank interest on the outstanding amount of any Overadvance, on demand, at the Default Rate.
Appears in 1 contract
Overadvances. It If, at any time, time the outstanding principal amount of any Advances exceeds the lesser of either the Revolving Line or the then applicable Borrowing Base (such sum being an “Overadvance”)Base, Borrower shall immediately pay to Bank in cash the amount of such excessexcess (the “Overadvance”) without fee or penalty. Without limiting Borrower’s obligation to repay Bank any amount of the Overadvance, Borrower agrees to pay Bank interest on the outstanding amount of any Overadvance, on demand, at the Default Rate.
Appears in 1 contract
Overadvances. It If, at any time, the outstanding principal amount of any Advances exceeds the lesser of either the Revolving Line or the Borrowing Base Base, (such sum being an “Overadvance”), Borrower shall immediately pay to Bank in cash such excessOveradvance. Without limiting Borrower’s obligation to repay Bank any amount of the Overadvance, Borrower agrees to pay Bank interest on the outstanding amount of any Overadvance, on demand, at the Default Rate.
Appears in 1 contract
Overadvances. It If, at any time, the outstanding principal amount of any Advances exceeds the lesser of either the Revolving Line or the Borrowing Base (such sum being an “Overadvance”)Line, Borrower shall immediately pay to Bank in cash the amount of such excess (such excess, the “Overadvance”). Without limiting Borrower’s obligation to repay Bank any amount of the Overadvance, Borrower agrees to pay Bank interest on the outstanding amount of any Overadvance, on demand, at the Default Rate.
Appears in 1 contract
Samples: Loan and Security Agreement (Ari Network Services Inc /Wi)
Overadvances. It If, at any time, the outstanding principal amount of any Advances exceeds the lesser of either the Revolving Line Maximum Dollar Amount or the Borrowing Base (such sum excess being an “‘Overadvance”’), Borrower shall immediately pay to Bank in cash such excessOveradvance. Without limiting Borrower’s obligation to repay Bank any amount of the Overadvance, Borrower agrees to pay Bank interest on the outstanding amount of any Overadvance, on demand, at the Default Rate.”
Appears in 1 contract
Samples: Loan and Security Agreement (Cardiovascular Systems Inc)
Overadvances. It If, at any time, the outstanding principal amount of any Advances (including any amounts used for Cash Management Services) exceeds the lesser of either the Revolving Line or the Borrowing Base (such sum being an “Overadvance”)Base, Borrower shall immediately pay to Bank in cash the amount of such excess (such excess, the “Overadvance”). Without limiting Borrower’s obligation to repay Bank any amount of the Overadvance, Borrower agrees to pay Bank interest on the outstanding amount of any Overadvance, on demand, at the Default Rate.
Appears in 1 contract
Overadvances. It If, at any time, the sum of the outstanding principal amount of any Advances exceeds the lesser of either (a) the Revolving Line or (b) the Domestic Borrowing Base (such sum being an “Overadvance”)Base, Borrower shall immediately pay to Bank in cash such excess. Such excess shall be deemed to be an “Overadvance”. Without limiting Borrower’s obligation to repay Bank any amount of the Overadvance, Borrower agrees to pay Bank interest on the outstanding amount of any Overadvance, on demand, at the Default Rate.
Appears in 1 contract
Overadvances. It If, at any time, the outstanding principal amount of any Advances exceeds the lesser of either the Revolving Line or the Borrowing Base (such sum being an “Overadvance”)Line, Borrower shall immediately pay to Bank in cash the amount of such excess (such excess, the “Overadvance”). Without limiting Borrower’s obligation to repay Bank any amount of the Overadvance, Borrower agrees to pay Bank interest on the outstanding amount of any Overadvance, on demand, at a per annum rate equal to the Default Raterate that is otherwise applicable to Advances plus two percent (2.00%).
Appears in 1 contract
Overadvances. It If, at any time, the outstanding principal amount of any Revolving Advances exceeds the lesser of either the Revolving Line or the Borrowing Base (such sum amount being an “Overadvance”), Borrower shall immediately pay to Bank Lenders in cash the ratable amount of such excessOveradvance. Without limiting Borrower’s obligation to repay Bank Lenders any amount of the Overadvance, Borrower agrees to pay Bank Lenders interest on the outstanding amount of any Overadvance, on demand, at the Default Rate.
Appears in 1 contract
Samples: Loan and Security Agreement (Zonare Medical Systems Inc)
Overadvances. It If, at any time, the outstanding principal amount of any Advances exceeds the lesser of either the Revolving Line or the Borrowing Base (such sum excess being an “Overadvance”), Borrower shall immediately pay to Bank in cash such excessOveradvance. Without limiting Borrower’s obligation to repay Bank any amount of the Overadvance, Borrower agrees to pay Bank interest on the outstanding amount of any Overadvance, on demand, at the Default Rate.”
Appears in 1 contract
Overadvances. It If, at any time, the outstanding principal amount of any Advances (such sum being an “Overadvance”) exceeds the lesser of either the Revolving Line or the Borrowing Base (such sum being an “Overadvance”)Base, Borrower Borrowers shall immediately pay to Bank in cash such excessOveradvance. Without limiting Borrower’s Borrowers’ obligation to repay Bank any amount of the Overadvance, Borrower agrees Borrowers agree to pay Bank interest on the outstanding amount of any Overadvance, on demand, at the Default RateRate if not repaid within three business days.
Appears in 1 contract
Samples: Loan and Security Agreement (Advanced Photonix Inc)
Overadvances. It If, at any time, the outstanding principal amount of any Advances exceeds the lesser of either the Revolving Line or the Borrowing Base (such sum being an “Overadvance”)Base, Borrower shall immediately pay to Bank in cash such excess. Without limiting Borrower’s obligation to repay Bank any amount of the Overadvance, Borrower agrees to pay Bank interest on the outstanding amount of any Overadvance, on demand, at the Default Rate.
Appears in 1 contract
Overadvances. It If, at any time, the outstanding principal amount of any Advances exceeds the lesser of either the Revolving Line Maximum Revolver Amount or the Borrowing Base (such sum excess being an “Overadvance”), Borrower shall immediately pay to Bank in cash such excessOveradvance. Without limiting Borrower’s obligation to repay Bank any amount of the Overadvance, Borrower agrees to pay Bank interest on the outstanding amount of any Overadvance, on demand, at the Default Rate.
Appears in 1 contract
Samples: Loan Agreement (Netlist Inc)
Overadvances. It If, at any time, the sum of the outstanding principal amount of any the Advances exceeds the lesser of either the Revolving Line or the Borrowing Base (such sum being an “Overadvance”)Line, Borrower shall immediately pay to Bank in cash the amount of such excess (such excess, the “Overadvance”). Without limiting Borrower’s obligation to repay Bank any amount of the Overadvance, Borrower agrees to pay Bank interest on the outstanding amount of any Overadvance, on demand, at the Default Rate.
Appears in 1 contract
Overadvances. It If, at any time, the sum of the outstanding principal amount of any Advances (including any amounts used for Cash Management Services) exceeds the lesser of either the Revolving Line or the Borrowing Base (such sum excess amount being an “Overadvance”), Borrower Borrowers shall immediately pay to Bank in cash such excessOveradvance. Without limiting Borrower’s Borrowers’ obligation to repay Bank any amount of the Overadvance, Borrower agrees Borrowers agree to pay Bank interest on the outstanding amount of any Overadvance, on demand, at the Default Rate.
Appears in 1 contract
Samples: Loan and Security Agreement (Sciclone Pharmaceuticals Inc)
Overadvances. It If, at any time, the outstanding principal amount of any the Advances exceeds the lesser of either the Revolving Line or the Borrowing Base (such sum being an “Overadvance”)Line, Borrower shall immediately pay to Bank in cash the amount of such excess (such excess, the “Overadvance”). Without limiting Borrower’s obligation to repay Bank any amount of the Overadvance, Borrower agrees to pay Bank interest on the outstanding amount of any Overadvance, on demand, at the Default Rate.”
Appears in 1 contract
Overadvances. It If, at any time, the outstanding principal amount of any Advances exceeds the lesser of either the Revolving Line or the Borrowing Base (such sum being an “Overadvance”)Base, Borrower shall immediately pay to Bank in cash the amount of such excess (such excess, the “Overadvance”). Without limiting Borrower’s obligation to repay Bank any amount of the Overadvance, Borrower agrees to pay Bank interest on the outstanding amount of any Overadvance, on demand, at the Default Ratethen current interest rate.
Appears in 1 contract
Overadvances. It If, at any time, the outstanding principal amount of any Advances exceeds the lesser of either the Revolving Line or the Borrowing Base (such sum being an “Overadvance”)Base, Borrower shall immediately pay to Bank in cash the amount of such excess (such excess, the “Overadvance”). Without limiting Borrower’s obligation to repay Bank any amount of the Overadvance, Borrower agrees to pay Bank interest on the outstanding amount of any Overadvance, on demand, at a per annum rate equal to the Default Raterate that is otherwise applicable to Advances plus five percent (5.00%).
Appears in 1 contract
Overadvances. It If, at any time, the outstanding principal amount of any Advances exceeds the lesser of either the Revolving Line or the Borrowing Base (such sum being an “Overadvance”)Base, Borrower shall immediately pay to Bank in cash such excessexcess (such excess being an “Overadvance”). Without limiting Borrower’s obligation to repay Bank any amount of the Overadvance, Borrower agrees to pay Bank interest on the outstanding amount of any Overadvance, on demand, at the Default Rate.”
2.4 Section 3.4 (
Appears in 1 contract
Samples: Loan and Security Agreement (Dot Hill Systems Corp)
Overadvances. It If, at any time, the sum the outstanding principal amount of any Advances exceeds the lesser of either the Revolving Line or the Borrowing Base (such sum excess amount being an “Overadvance”), Borrower shall immediately pay to Bank in cash such excessOveradvance. Without limiting Borrower’s obligation to repay Bank any amount of the Overadvance, Borrower agrees to pay Bank interest on the outstanding amount of any Overadvance, on demand, at the Default Rate.
Appears in 1 contract
Overadvances. It If, at any time, the outstanding principal amount of any the Advances exceeds the lesser of either the Revolving Line or the Borrowing Base (such sum being an “Overadvance”)Line, Borrower Borrowers shall immediately pay to Bank in cash the amount of such excess (such excess, the “Overadvance”). Without limiting Borrower’s Borrowers’ obligation to repay Bank any amount of the Overadvance, Borrower agrees Borrowers agree to pay Bank interest on the outstanding amount of any Overadvance, on demand, at a per annum rate equal to the Default Raterate that is otherwise applicable to Advances plus five percent (5.00%).
Appears in 1 contract