Xxxxxx’s Damages Sample Clauses

Xxxxxx’s Damages. Borrower acknowledges that its failure to make timely payments will increase Lender’s expenses and that it is extremely difficult and impractical to determine those additional expenses. Xxxxxxxx agrees that the Late Charge and the Default Annual Interest Rate both represent fair and reasonable estimates of Xxxxxx’s additional expenses.

Xxxxxx’s Damages. Borrower acknowledges that (i) its failure to make timely payments will cause Lender to incur additional expenses in servicing and processing the Loan, (ii) during the time that any monthly installment under this Note is delinquent for 30 days or more, Lender will incur additional costs and expenses arising from its loss of the use of the money due and from the adverse impact on Lender’s ability to meet its other obligations and to take advantage of other investment opportunities, and (iii) it is extremely difficult and impractical to determine those additional costs and expenses. Xxxxxxxx also acknowledges that, during the time that any monthly installment under this Note is delinquent for 30 days or more or any other Event of Default has occurred and is continuing, Xxxxxx’s risk of nonpayment of this Note will be materially increased and Lender is entitled to be compensated for such increased risk. Xxxxxxxx agrees that the Late Charge and the increase in the rate of interest payable under this Note to the Default Rate represents a fair and reasonable estimate, taking into account all circumstances existing on the Effective Date, of the additional costs and expenses Xxxxxx will incur by reason of the Borrower’s delinquent payment and the additional compensation Lender is entitled to receive for the increased risks of nonpayment associated with a delinquent loan.