Common use of Payment; Interest Computation; Float Charge Clause in Contracts

Payment; Interest Computation; Float Charge. Interest is payable monthly on the last calendar day of each month. In computing interest on the Obligations, all Payments received after 12:00 p.m. California time on any day shall be deemed received on the next Business Day. In addition, so long as any principal or interest with respect to any Credit Extension remains outstanding, Bank shall be entitled to charge Borrower a “float” charge in an amount equal to three (3) Business Days interest, at the interest rate applicable to the Advances, on all Payments received by Bank; provided, however, such “float” charge will not be applicable if a Streamline Period is in effect. Said float charge is not included in interest for purposes of computing Minimum Monthly Interest (if any) under this Agreement. The float charge for each month shall be payable on the last day of the month. Bank shall not, however, be required to credit Borrower's account for the amount of any item of payment which is unsatisfactory to Bank in its good faith business judgment, and Bank may charge Borrower's Designated Deposit Account for the amount of any item of payment which is returned to Bank unpaid.

Payment; Interest Computation; Float Charge. Interest is payable monthly on the last calendar day of each month. In computing interest on the Obligations, all Payments received after 12:00 p.m. California Pacific time on any day shall be deemed received on the next Business Day. In addition, so long as any principal or interest with respect to any Credit Extension remains outstanding, Bank shall be entitled to charge Borrower Borrowers a “float” charge in an amount equal to three two (32) Business Days interest, at the interest rate applicable to the Advances, on all Payments payments received by Bank; provided, however, such “float” charge will not be applicable if at a time when a Streamline Period is not in effect, that are not in the form of immediately available funds. Said float charge is not included in interest for purposes of computing Minimum Monthly Interest minimum monthly interest (if any) under this Agreement. The float charge for each month shall be payable on the last day of the month. Bank shall not, however, be required to credit any Borrower's ’s account for the amount of any item of payment which is unsatisfactory to Bank in its good faith business judgment, and Bank may charge Borrower's ’s Designated Deposit Account Account(s) for the amount of any item of payment which is returned to Bank unpaid.

Payment; Interest Computation; Float Charge. Interest is payable monthly on the last calendar day of each month. In computing interest on the Obligations, all Payments received after 12:00 p.m. California Pacific time on any day shall be deemed received on the next Business Day. In addition, so long as any principal or interest with respect to any Credit Extension remains outstanding, Bank shall be entitled to charge Borrower a “float” charge in an amount equal to three one (31) Business Days interestDay interest (provided, however, while the Reduced Rate is in effect, then the float charge will not be applicable), at the interest rate applicable to the Advances, on all Payments received by Bank; provided, however, such “float” charge will not be applicable if a Streamline Period is in effect. Said float charge is not included in interest for purposes of computing Minimum Monthly Interest (if any) under this Agreement. The float charge for each month shall be payable on the last day of the month. Bank shall not, however, be required to credit Borrower's ’s account for the amount of any item of payment which is unsatisfactory to Bank in its good faith business judgment, and Bank may charge Borrower's ’s Designated Deposit Account for the amount of any item of payment which is returned to Bank unpaid.