Default Fees. If any Person fails to pay any of the Obligations when due, such Person agrees to pay, on demand, the Default Fee in respect thereof until paid. Notwithstanding the foregoing, no provision of this Agreement or the Fee Letter shall require the payment or permit the collection of any amounts hereunder in excess of the maximum permitted by applicable law.
Appears in 2 contracts
Sources: Receivables Purchase Agreement (Navistar Financial Retail Receivables Corp), Receivables Purchase Agreement (Navistar Financial Corp)
Default Fees. If any Person fails to pay any of the ------------ Obligations when due, such Person agrees to pay, on demand, the Default Fee in respect thereof until paid. Notwithstanding the foregoing, no provision of this Agreement or the Fee Letter shall require the payment or permit the collection of any amounts hereunder in excess of the maximum permitted by applicable law.
Appears in 1 contract
Sources: Receivables Purchase Agreement (Navistar Financial Retail Receivables Corporation)