Retroactive Application to November 4, 2010 Sample Clauses

Retroactive Application to November 4, 2010. The interest owing on the Loan during the period from and after (and including) November 4, 2010 to the Modification Closing Date shall be determined retroactively (taking into account the revisions set forth in this Section 2.4), and any excess of interest owing during such period at the revised rates provided for in this Section 2.4 over the amount of interest actually paid by Borrower during the same period shall become due on the Modification Closing Date and shall be paid to Lender in one lump-sum payment on the Modification Closing Date. Such interest may be paid from available funds in the Working Capital Reserve Account. In consideration of the above retroactive application of such interest rates and the lump-sum payment to be made to Lender, any default interest or late penalties that may have accrued on the Loan Amount prior to the Modification Closing Date are hereby waived by Lender.
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