Default Charge. the Default Charge, immediately upon its accrual, on: 3.2.2.1. all past due amounts due from Seller to Purchaser hereunder; and 3.2.2.2. the amount of any Reserve Shortfall.
Appears in 2 contracts
Sources: Factoring Agreement (Tri-S Security Corp), Factoring Agreement (Health & Nutrition Systems International Inc)
Default Charge. the Default Charge, immediately upon its accrual, on:
3.2.2.14.2.2.1. all past due amounts due from Seller to Purchaser hereunder; and
3.2.2.2. the amount of any Reserve Shortfall.
Appears in 1 contract
Default Charge. the The Default Charge, immediately upon its accrual, on:
3.2.2.1. all All past due amounts due from Seller to Purchaser hereunder; and
3.2.2.2. the The amount of any Reserve Shortfall.
Appears in 1 contract
Sources: Receivables Purchase and Security Agreement (Lightpath Technologies Inc)
Default Charge. the Default Charge, immediately upon its accrual, on:
3.2.2.1. 3.2.2.1 all past due amounts due from Seller to Purchaser hereunder; and
3.2.2.2. 3.2.2.2 the amount of any Reserve Shortfall.
Appears in 1 contract
Sources: Factoring and Security Agreement (Tri-S Security Corp)