Common use of Collection Charges Clause in Contracts

Collection Charges. If items of payment are received by Lender at a time when there are no Revolving Credit Loans outstanding, such items of payment shall be subject to a collection charge equal to two (2) days' interest on the amount thereof at the rate then applicable to Base Rate Advances, which collection charges shall be payable on the first Business Day of each month.

Appears in 2 contracts

Samples: Loan and Security Agreement (Financial Performance Corp), Loan and Security Agreement (Emtec Inc/Nj)

AutoNDA by SimpleDocs

Collection Charges. If items of payment are received by Lender at a time when there are no Revolving Credit Loans outstanding, such items of payment shall be subject to a collection charge equal to two (2) one days' interest on the amount thereof at the rate then applicable to Base Rate AdvancesRevolving Credit Loans, which collection charges shall be payable by Borrowers to Lender on the first Business Day of each month.

Appears in 1 contract

Samples: Loan and Security Agreement (Eagle Pacific Industries Inc/Mn)

Collection Charges. If items of payment are received by Lender Agent at a time when there are no Revolving Credit Loans outstanding, such items of payment shall be subject to a collection charge equal to two (2) days' one day’s interest on the amount thereof at the rate then applicable to Base Rate AdvancesRevolving Credit Loans, which collection charges shall be payable on the first Business Day of each month.

Appears in 1 contract

Samples: Loan and Security Agreement (Houston Wire & Cable CO)

Collection Charges. If items of payment are received by Lender Agent at a time when there are no Revolving Credit Loans outstanding, such items of payment shall be subject to a collection charge equal to two (2) days' one day's interest on the amount thereof at the rate then applicable to Base Rate AdvancesRevolving Credit Loans, which collection charges shall be payable on the first Business Day of each month.

Appears in 1 contract

Samples: Loan and Security Agreement (Houston Wire & Cable CO)

Collection Charges. If items of payment are received by Lender at a time when there are no Revolving Credit Loans outstanding, such items of payment shall be subject to a collection charge equal to two (2) daysBusiness Days' interest on the amount thereof at the rate then applicable to Base Rate AdvancesRevolving Credit Loans, which collection charges shall be payable on the first Business Day of each month.

Appears in 1 contract

Samples: Loan and Security Agreement (Denali Inc)

Collection Charges. If items of payment are received by Lender Agent at a time when there are no Revolving Credit Loans outstanding, such items of payment shall be subject to a collection charge equal to two (2) one days' interest on the amount thereof at the rate then applicable to the Base Rate AdvancesRevolving Credit Portion of the Revolving Credit Loans, which collection charges shall be payable by Borrower to Agent on the first Business Day of each month.

Appears in 1 contract

Samples: Loan and Security Agreement (Eagle Pacific Industries Inc/Mn)

Collection Charges. If All items of payment are received by Lender at a any time when (irrespective of whether there are no Revolving Credit Loans outstanding, such items outstanding at the time of payment receipt) shall be subject to a collection charge equal to two one and one-half (21-1/2) days' Business Days interest on the amount thereof at the rate then applicable to Base Rate AdvancesAdvances under Revolving Credit Loans, which collection charges shall be payable monthly in arrears on the first Business Day of each month.

Appears in 1 contract

Samples: Loan and Security Agreement (Joule Inc)

Collection Charges. If items of payment are received by Lender at a time when there are no Revolving Credit Loans outstanding, such items of payment shall be subject to a collection charge equal to two (2) one days' interest on the amount thereof at the rate then applicable to Base Rate AdvancesRevolving Credit Loans, which collection charges shall be payable by Borrower to Lender on the first Business Day of each month.

Appears in 1 contract

Samples: Loan and Security Agreement (Eagle Pacific Industries Inc/Mn)

AutoNDA by SimpleDocs

Collection Charges. If All items of payment are received by Lender at a any time when (irrespectivx xx whether there are no Revolving Credit Loans outstanding, such items outstanding at the time of payment receipt) shall be subject to a collection charge equal to two (2) days' Business Days interest on the amount thereof at the rate then applicable to Base Rate Advancesthe Revolving Credit Loans, which collection charges shall be payable monthly in arrears on the first Business Day of each month.

Appears in 1 contract

Samples: Loan and Security Agreement (Pure World Inc)

Collection Charges. If items of payment are received by Lender at a ------------------ time when there are no Revolving Credit Loans outstanding, such items of payment shall be subject to a collection charge equal to two (2) days' interest on the amount thereof at the rate then applicable to Base Rate Advancesthe Revolving Credit Loan, which collection charges shall be payable on the first Business Day of each month.

Appears in 1 contract

Samples: Loan and Security Agreement (Seranova Inc)

Collection Charges. If items of payment are received by Lender at a time when there are no Revolving Credit Loans outstanding, such items of payment shall be subject to a collection charge equal to two one (21) daysBusiness Days' interest on the amount thereof at the rate then applicable to Base Rate AdvancesRevolving Credit Loans, which collection charges shall be payable on the first Business Day day of each month.

Appears in 1 contract

Samples: Loan and Security Agreement (Meade Instruments Corp)

Collection Charges. If items of payment are received by Lender at a time when there are no Revolving Credit Loans outstanding, such items of payment shall be subject to a collection charge equal to two (2) days' Business Days interest on the amount thereof at the rate then applicable to Base Rate AdvancesRevolving Credit Loans, which collection charges shall be payable on the first Business Day of each month.

Appears in 1 contract

Samples: Loan and Security Agreement (First Aviation Services Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.