Examples of Default Charges in a sentence
The Agency will not be liable to pay the Default Charges for the period for which the Force Majeure events persist.
The Lessee will not be liable to pay the Default Charges for the period for which the Force Majeure events persist.
Lender hereby subordinates the collection of any Default Charges to the collection by CDC and/or SBA of the 504 Loan and, to the extent that Lender’s Loan Documents secure any Default Charges, Lender hereby subordinates such lien(s) to the lien(s) securing the 504 Loan.
Lender further agrees that if Lender receives from CDC or SBA any amounts attributable to Default Charges, then Lender will immediately remit such amounts to SBA.
To the extent the Lender’s Security Instrument secures any amounts attributable to Default Charges, the Lender’s Security Instrument is and will be subordinate to SBA’s Security Instrument.