Common use of Other Secured Obligations Clause in Contracts

Other Secured Obligations. The Borrower will, to the extent permitted by Applicable Law, pay interest on the unpaid principal amount of any Secured Obligation that is due and payable other than the Loans in accordance with SECTIONS 3.1(a) or (d), as applicable, as if such Secured Obligation were a Prime Rate Revolving Credit Loan.

Appears in 2 contracts

Samples: Loan and Security Agreement (Burke Industries Inc /Ca/), Loan and Security Agreement (Burke Industries Inc /Ca/)

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Other Secured Obligations. The Borrower will, to the extent permitted by Applicable Law, pay interest on the unpaid principal amount of any Secured Obligation that is due and payable other than the Loans in accordance with SECTIONS 3.1(a3.1(A) or (dD), as applicable, as if such Secured Obligation were a Prime Rate Revolving Credit Loan. Interest that is due and payable shall be deemed to be a liquidated amount and obligation of the Borrower and shall, to the extent permitted by Applicable Law, bear interest in accordance with SECTION 3.1(C).

Appears in 1 contract

Samples: Loan and Security Agreement (Nabi /De/)

Other Secured Obligations. The Borrower Borrowers will, to the extent permitted by Applicable Lawapplicable law, pay interest on the unpaid principal amount of any Secured Obligation that is due and payable payable, other than the Loans Loans, in accordance with SECTIONS 3.1(a5.1(A) or (dD), as applicable, as if such Secured Obligation were a Prime Rate Revolving Credit Loan.

Appears in 1 contract

Samples: Loan and Security Agreement (Supreme International Corp)

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Other Secured Obligations. The Borrower Borrowers will, to the extent permitted by Applicable Law, pay interest on the unpaid principal amount of any Secured Obligation that is due and payable payable, other than the Loans Loans, in accordance with SECTIONS 3.1(a4.1(a) or (d), as applicable, as if such Secured Obligation were a Prime Rate Revolving Credit Loan.

Appears in 1 contract

Samples: Loan and Security Agreement (Kellstrom Industries Inc)

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