The Loan Documents. If the Loan Documents provide for an adjustable interest rate, the rate in effect when the late charge first accrues shall be used. In no event shall the total late charge and interest exceed five hundred dollars. Any late charge shall be paid from Lender's funds and shall not be added to the unpaid Principal Balance.
Appears in 2 contracts
Samples: Loan Agreement, Loan Agreement
The Loan Documents. If the Loan Documents provide for an adjustable interest rate, the rate in effect when the late charge first accrues shall be used. In no event shall the total late charge and interest exceed five hundred dollars. Any late charge shall be paid from LenderXxxxxx's funds and shall not be added to the unpaid Principal Balance.
Appears in 2 contracts
Samples: Loan Agreement, Loan Agreement