Common use of Payments; Late Charge; Default Rate Clause in Contracts

Payments; Late Charge; Default Rate. Payments shall be made in immediately available United States funds at any banking office of the Bank. Absent demand for payment in full, Borrower shall pay all accrued and unpaid interest, in amounts that may vary, monthly, or as otherwise invoiced by the Bank. If any payment is not received within five days of its due date, Borrower shall pay a late charge equal to the greatest of (a) 5% of the delinquent amount, (b) the Bank’s then current late charge as announced by the Bank from time to time, or (c) $50.00. In addition, if the Bank has not actually received any payment due under this Note within thirty days after its due date, from and after such thirtieth day the interest rate for all amounts outstanding under this Note shall automatically increase to 5 percentage points above the higher of the Base Rate or the highest LIBOR Rate (“Default Rate”), and any judgment entered hereon or otherwise in connection with any suit to collect amounts due hereunder shall bear interest at such Default Rate. Payments may be applied in any order in the sole discretion of the Bank, but prior to demand, shall be applied first to past due interest, Expenses, late charges, and principal payments, if any, which are past due, then to current interest and Expenses and late charges, and last to remaining principal.

Payments; Late Charge; Default Rate. Payments shall be made in immediately available United States funds at any banking office of the Bank. Absent demand for payment Interest shall be due and payable as follows: (i) in fullrespect to each Base Rate Loan, Borrower shall pay all accrued monthly when invoiced and unpaid interest(ii) in respect to each LIBOR Rate Loan, in amounts that may vary, monthly, or as otherwise invoiced by on the Banklast day of each Interest Period applicable thereto. If any payment is not received within five days of its due date, Borrower shall pay a late charge equal to the greatest of (a) 5% of the delinquent amount, (b) the Bank’s 's then current late charge as announced by the Bank from time to time, or (c) $50.00. In addition, if the Bank has not actually received any payment due under this Note within thirty days after its due date, from and after such thirtieth day the interest rate for all amounts outstanding under this Note shall automatically increase to 5 percentage points above the higher of the Base Rate or the highest LIBOR Rate (“the "Default Rate”"), and any judgment entered hereon or otherwise in connection with any suit to collect amounts due hereunder shall bear interest at such the Default Rate. Payments may be applied in any order in the sole discretion of the BankBank but, but prior to demand, shall be applied first to past due interest, Expenses, late charges, and principal payments, if any, which are past due, then to current interest and Expenses and late charges, and last to remaining principal.

Payments; Late Charge; Default Rate. The Borrower promises to pay interest on the unpaid principal balance from time to time outstanding hereunder from the date hereof until paid in full. All accrued and unpaid interest shall be payable monthly in arrears on the 1st day of each month, commencing September 1, 2011, and on the date of payment in full of this Note. All Payments shall be made in immediately available United States funds at any banking office of the Bank. Absent demand for payment in full, . Borrower shall pay all accrued and unpaid interest, in amounts that may vary, monthly, or as otherwise invoiced by the Bank. If any payment is not received within five days of its due date, Borrower shall pay a late charge equal to the greatest of (a) 5% of the delinquent amount, or (b) the Bank’s then current late charge as announced by the Bank from time to time, or (c) $50.00. In addition, if upon the Bank has not actually received any payment due under this Note within thirty days after its due date, from occurrence and after such thirtieth day during the continuance of a Default or an Event of Default the interest rate for all amounts outstanding under this Note shall automatically (excluding any defaulted payment of principal accruing interest in accordance with the immediately preceding sentence) shall, at the option of the Bank, increase to 5 4 percentage points above the higher of the Base Rate or the highest LIBOR Rate otherwise applicable rate (“Default Rate”), and any judgment entered hereon or otherwise in connection with any suit to collect amounts due hereunder shall bear interest at such Default Rate. Payments may be applied in any order in the sole discretion of the Bank, but prior to demand, shall be applied first to past due interest, Expenses, late charges, and principal payments, if any, which are past due, then to current interest and Expenses and late charges, and last to remaining principal.

Payments; Late Charge; Default Rate. Payments shall be made in immediately available United States funds at any banking office of the Bank. Absent demand for payment Interest shall be due and payable as follows: (i) in fullrespect to each Base Rate Loan, Borrower shall pay all accrued monthly when invoiced and unpaid interest(ii) in respect to each LIBOR Rate Loan, in amounts that may vary, monthly, or as otherwise invoiced by on the Banklast day of each Interest Period applicable thereto. If any payment is not received within five days of its due date, Borrower shall pay a late charge equal to the greatest of (a) 5% of the delinquent amount, (b) the Bank’s then current late charge as announced by the Bank from time to time, or (c) $50.00. In addition, if the Bank has not actually received any payment due under this Note within thirty days after its due date, from and after such thirtieth day the interest rate for all amounts outstanding under this Note shall automatically increase to 5 percentage points above the higher of the Base Rate or the highest LIBOR Rate (the “Default Rate”), and any judgment entered hereon or otherwise in connection with any suit to collect amounts due hereunder shall bear interest at such the Default Rate. Payments may be applied in any order in the sole discretion of the BankBank but, but prior to demand, shall be applied first to past due interest, Expenses, late charges, and principal payments, if any, which are past due, then to current interest and Expenses and late charges, and last to remaining principal.

Payments; Late Charge; Default Rate. Payments shall be made in immediately available United States funds at any banking office of the Bank. Absent demand for payment in full, Borrower interest shall pay all accrued be due and unpaid interestpayable as follows: unless demanded sooner, (i) in amounts that may varyrespect to each Base Rate Loan, monthlymonthly when invoiced and (ii) in respect to each LIBOR Rate Loan, or as otherwise invoiced by on the Banklast day of each Interest Period applicable thereto except if a LIBOR Rate Loan has a six month Interest Period, interest shall be paid on the three month anniversary of the LIBOR Rate Loan and on the last day of the Interest Period. If any payment is not received within five days of its due date, Borrower shall pay a late charge equal to the greatest of (a) 5% of the delinquent amount, (b) the Bank’s 's then current late charge as announced by the Bank from time to time, or (c) $50.00. In addition, if the Bank has not actually received any payment due under this Note within thirty days after its due date, from and after such thirtieth day the interest rate for all amounts outstanding under this Note shall automatically increase to 5 percentage points above the higher of the Base Rate or the highest LIBOR Rate (“Default Rate”), and any judgment entered hereon or otherwise in connection with any suit to collect amounts due hereunder shall bear interest at such Default Ratedefault rate. Payments may be applied in any order in the sole discretion of the BankBank but, but prior to demand, shall be applied first to past due interest, Expenses, late charges, and principal payments, if any, which are past due, then to current interest and Expenses and late charges, and last to remaining principal.

Payments; Late Charge; Default Rate. Payments shall be made in immediately available United States funds at any banking office of the Bank. Absent demand for payment in full, interest shall be due and payable as follows: unless demanded sooner, (i) in respect to each Base Rate Loan, monthly when invoiced and (ii) in respect to each LIBOR Rate Loan, on the last day of each Interest Period applicable thereto (except, however, if the Interest Period duration selected by Borrower shall pay all accrued and unpaid interestis "one day", in amounts that may vary, monthlywhich case such payment shall be made on the Payment Due Date for each month, or as otherwise invoiced by the Bank). If any payment is not received within five days of its due date, Borrower shall pay a late charge equal to the greatest of (a) 5% of the delinquent amount, (b) the Bank’s 's then current late charge as announced by the Bank from time to time, or (c) $50.00. In addition, if the Bank has not actually received any payment due under this Note within thirty days after its due date, from and after such thirtieth day the interest rate for all amounts outstanding under this Note shall automatically increase to 5 3 percentage points above the higher of the Base Rate or the highest LIBOR Rate (“the "Default Rate”"), and any judgment entered hereon or otherwise in connection with any suit to collect amounts due hereunder shall bear interest at such Default Rate. Payments may be applied in any order in the sole discretion of the BankBank but, but prior to demand, shall be applied first to past due interest, Expenses, late charges, and principal payments, if any, which are past due, then to current interest and Expenses and late charges, and last to remaining principal.

Payments; Late Charge; Default Rate. Payments shall be made in immediately available United States funds at any banking office of the Bank. Absent demand for payment in full, Borrower interest shall pay all accrued be due and unpaid interestpayable as follows: unless demanded sooner, (i) in amounts that may varyrespect to each Base Rate Loan, monthlymonthly when invoiced and (ii) in respect to each LIBOR Rate Loan, or as otherwise invoiced by on the Banklast day of each Interest Period applicable thereto. If any payment is not received within five days of its due date, Borrower shall pay a late charge equal to the greatest of (a) 5% of the delinquent amount, (b) the Bank’s 's then current late charge as announced by the Bank from time to time, or (c) $50.00. In addition, if the Bank has not actually received any payment due under this Note within thirty days after its due date, from and after such thirtieth day the interest rate for all amounts outstanding under this Note shall automatically increase to 5 percentage points above the higher of the Base Rate or the highest LIBOR Rate (“Default Rate”), and any judgment entered hereon or otherwise in connection with any suit to collect amounts due hereunder shall bear interest at such Default Ratedefault rate. Payments may be applied in any order in the sole discretion of the BankBank but, but prior to demand, shall be applied first to past due interest, Expenses, late charges, and principal payments, if any, which are past due, then to current interest and Expenses and late charges, and last to remaining principal.

Payments; Late Charge; Default Rate. The Borrower promises to pay interest on the unpaid principal balance from time to time outstanding hereunder from the date hereof until paid in full. All accrued and unpaid interest shall be payable monthly in arrears on the 1st day of each month, commencing September 1, 2011, and on the date of payment in full of this Note. All Payments shall be made in immediately available United States funds at any banking office of the Bank. Absent demand for payment in full, Borrower shall pay all accrued and unpaid interest, in amounts that may vary, monthly, or as otherwise invoiced by the Bank. If any payment is not received within five days of its due date, Borrower shall pay a late charge equal to the greatest of (a) 5% of the delinquent amount, or (b) the Bank’s then current late charge as announced by the Bank from time to time, or (c) $50.00. In addition, if upon the Bank has not actually received any payment due under this Note within thirty days after its due date, from occurrence and after such thirtieth day during the continuance of a Default or an Event of Default the interest rate for all amounts outstanding under this Note shall automatically (excluding any defaulted payment of principal accruing interest in accordance with the immediately preceding sentence) shall, at the option of the Bank, increase to 5 4 percentage points above the higher of the Base Rate or the highest LIBOR Rate otherwise applicable rate (“Default Rate”), and any judgment entered hereon or otherwise in connection with any suit to collect amounts due hereunder shall bear interest at such Default Rate. Payments may be applied in any order in the sole discretion of the Bank, but prior to demand, shall be applied first to past due interest, Expenses, late charges, and principal payments, if any, which are past due, then to current interest and Expenses and late charges, and last to remaining principal.