Late Payments; Default Rate. If the Borrower fails to make any payment of principal, interest or other amount coming due pursuant to the provisions of this Note within five (5) calendar days of the date due and payable, the Borrower also shall pay to the Lender a late charge equal to the greater of one thousand dollars ($1,000) or five percent (5.0%) of the amount of such payment (“Late Charge”). Such five (5) calendar day period shall not be construed in any way to extend the due date of any such payment.
Appears in 1 contract
Samples: Asset Purchase Agreement (Infe Human Resources Inc)
Late Payments; Default Rate. If the Borrower fails to make any payment of principal, interest or other amount coming due pursuant to the provisions of this Note within five (5) calendar days of the date due and payable, the Borrower also shall pay to the Lender a late charge equal to the greater of one thousand dollars ($1,000) or five percent (5.0%) of the amount of such payment (“"Late Charge”"). Such five (5) calendar day period shall not be construed in any way to extend the due date of any such payment.
Appears in 1 contract
Samples: Asset Purchase Agreement (Infe Human Resources Inc)
Late Payments; Default Rate. If the Borrower fails to make any payment of principal, interest or other amount coming due pursuant to the provisions of this Note within five (5fifteen ( 15) calendar days of the date due and payable, the Borrower also shall pay to the Lender Bank a late charge equal to the greater lesser of one thousand dollars ($1,000) or five percent (5.05%) of the amount of such payment (“Late Charge”)or $100.00. Such five (5) calendar 15 day period shall not be construed in any way to extend the due date of any such payment.such
Appears in 1 contract
Samples: Credit Agreement (Aquapenn Spring Water Company Inc)
Late Payments; Default Rate. If the Borrower fails to make any payment of principal, interest or other amount coming due pursuant to the provisions of this Note within five fifteen (515) calendar days of the date due and payable, the Borrower also shall pay to the Lender Bank a late charge equal to the greater lesser of one thousand dollars ($1,000) or five percent (5.05%) of the amount of such payment (“Late Charge”)or $100.00. Such five (5) calendar 15 day period shall not be construed in any way to extend the due date of any such payment.such
Appears in 1 contract
Samples: Credit Agreement (Aquapenn Spring Water Company Inc)