Common use of Minimum Interest Charge Clause in Contracts

Minimum Interest Charge. In any event, even upon full prepayment of this Note, Borrower understands that Lender is entitled to a minimum interest charge of $50.00. Other than ▇▇▇▇▇▇▇▇'s obligation to pay any minimum interest charge, Borrower may pay without penalty all or a portion of the amount owed earlier than it is due. Early payments will not, unless agreed to by ▇▇▇▇▇▇ in writing, relieve ▇▇▇▇▇▇▇▇ of ▇▇▇▇▇▇▇▇'s obligation to continue to make payments of accrued unpaid interest. Rather, they will reduce the principal balance due.

Appears in 2 contracts

Sources: Loan Agreement (First Southern Funding Inc), Loan Agreement (First Southern Funding Inc)

Minimum Interest Charge. In any event, even upon full prepayment of this Note, Borrower ▇▇▇▇▇▇▇▇ understands that Lender is entitled to a minimum interest charge of $50.005.00. Other than ▇▇▇▇▇▇▇▇'s obligation to pay any minimum interest charge, Borrower may pay without penalty all or a portion of the amount owed earlier than it is due. Early payments will not, unless agreed to by ▇▇▇▇▇▇ in writing, relieve ▇▇▇▇▇▇▇▇ of ▇▇▇▇▇▇▇▇'s obligation to continue to make payments of accrued unpaid interest. Rather, they will reduce the principal balance due.

Appears in 1 contract

Sources: Promissory Note (Credit Concepts Inc)

Minimum Interest Charge. In any event, even upon full prepayment of this Note, Borrower ▇▇▇▇▇▇▇▇ understands that Lender is entitled to a minimum interest charge of $50.00100.00. Other than ▇▇▇▇▇▇▇▇'s obligation to pay any minimum interest charge, Borrower may pay without penalty all or a portion of the amount owed earlier than it is due. Early payments will not, unless agreed to by ▇▇▇▇▇▇ in writing, relieve ▇▇▇▇▇▇▇▇ of ▇▇▇▇▇▇▇▇'s obligation to continue to make payments of accrued unpaid interest. Rather, Rather they will reduce the principal balance due.

Appears in 1 contract

Sources: Promissory Note (New Horizons Worldwide Inc)

Minimum Interest Charge. In any event, even upon full prepayment of this Note, Borrower understands that Lender is entitled to a minimum interest charge of $50.00200.00. Other than ▇▇▇▇▇▇▇▇Borrower's obligation to pay any minimum interest charge, Borrower may pay without penalty all or a portion of the amount owed earlier than it is due. Early payments will not, unless agreed to by ▇▇▇▇▇▇ Lender in writing, relieve ▇▇▇▇▇▇▇▇ Borrower of ▇▇▇▇▇▇▇▇Borrower's obligation to continue to make payments of accrued unpaid interest. Rather, they will reduce the principal balance due.

Appears in 1 contract

Sources: Business Loan Agreement (Covalent Partners LLC)

Minimum Interest Charge. In any event, even upon full prepayment of this NoteNot, Borrower Borrower, understands that Lender is entitled to a minimum interest charge of $50.00100.00. Other than ▇▇▇▇▇▇▇▇'s obligation to pay any minimum interest charge, Borrower may pay without penalty all or a portion of the amount owed earlier than it is due. Early payments will not, unless agreed to by ▇▇▇▇▇▇ in writing, relieve ▇▇▇▇▇▇▇▇ of ▇▇▇▇▇▇▇▇'s obligation to continue to make payments of accrued unpaid interest. Rather, they will reduce the principal balance due.

Appears in 1 contract

Sources: Promissory Note (Balance Bar Co)

Minimum Interest Charge. In If any event, even upon full prepayment of this Note, Borrower understands that Lender is entitled to a minimum interest charge of $50.0010.00. Other than Borr▇▇▇▇'▇ ▇▇▇'s obligation bligation to pay any minimum interest charge, Borrower may pay without penalty all or a portion of the amount owed earlier than it is due. Early payments will not, unless agreed to by Lend▇▇ ▇▇ writing, relieve Borr▇▇▇▇ ▇▇ Borr▇▇▇▇'▇ ▇ in writing, relieve ▇▇▇▇▇▇▇▇ of ▇▇▇▇▇▇▇▇'s obligation bligation to continue to make payments of accrued unpaid interest. Rather, they will reduce the principal balance due.

Appears in 1 contract

Sources: Promissory Note (Dynacs Inc)

Minimum Interest Charge. In any event, even upon full prepayment of this NoteAgreement, Borrower understands that Lender is entitled to a minimum interest charge of $50.00100.00. Other than ▇▇▇▇▇▇▇▇Borrower's obligation to pay any minimum interest charge, Borrower may pay without penalty all or a portion of the amount owed earlier than it is due. Early payments will not, unless agreed to by ▇▇▇▇▇▇ Lender in writing, relieve ▇▇▇▇▇▇▇▇ Borrower of ▇▇▇▇▇▇▇▇Borrower's obligation to continue to make payments of accrued unpaid interest. Rather, they will reduce the principal balance due.

Appears in 1 contract

Sources: Business Loan Agreement (U S Laboratories Inc)

Minimum Interest Charge. In any event, even upon full prepayment of this Note, Borrower understands that Lender is entitled to a minimum interest charge of $50.00100.00. Other than ▇▇▇▇▇▇▇▇Borrower's obligation to pay any minimum interest charge, Borrower may pay without penalty all or a portion of the amount owed earlier than it is due. Early payments will not, unless agreed to by ▇▇▇▇▇▇ Lender in writing, relieve ▇▇▇▇▇▇▇▇ Borrower of ▇▇▇▇▇▇▇▇Borrower's obligation to continue to make payments of accrued unpaid interestunder the payment schedule. Rather, they will reduce the principal balance duedue and may result in Borrower making fewer payments.

Appears in 1 contract

Sources: Promissory Note (Cardiodynamics International Corp)

Minimum Interest Charge. In any event, even upon full prepayment of this Note, Borrower understands that Lender is entitled to a minimum interest charge of $50.00. Other than Borr▇▇▇▇'▇ ▇▇▇'s obligation bligation to pay any minimum interest charge, Borrower may pay without penalty all or a portion of the amount owed earlier than it is due. Early payments will not, unless agreed to by Lend▇▇ ▇▇ writing, relieve Borr▇▇▇▇ ▇▇ Borr▇▇▇▇'▇ ▇ in writing, relieve ▇▇▇▇▇▇▇▇ of ▇▇▇▇▇▇▇▇'s obligation bligation to continue to make payments of accrued unpaid interest. Rather, they will reduce the principal balance due.

Appears in 1 contract

Sources: Promissory Note (Fafco Inc)

Minimum Interest Charge. In any event, even upon full prepayment of this Note, Borrower understands that Lender is entitled to a minimum interest charge of $50.00250.00. Other than ▇▇▇▇▇▇▇▇Borrower's obligation to pay any minimum interest charge, Borrower may pay without penalty all or a portion of the amount owed earlier than it is due. Early payments will not, unless agreed to by ▇▇▇▇▇▇ Lender in writing, relieve ▇▇▇▇▇▇▇▇ Borrower of ▇▇▇▇▇▇▇▇Borrower's obligation to continue to make payments of accrued unpaid interest. Rather, they will reduce the principal balance due.

Appears in 1 contract

Sources: Credit Agreement and Promissory Note (LXN Corp)

Minimum Interest Charge. In any event, even upon full prepayment of this Note, Borrower understands that Lender is entitled to a minimum interest charge of $50.0025.00. Other than ▇▇▇▇▇▇▇▇Borrower's obligation to pay any minimum interest charge, Borrower may pay without penalty all or a portion of the amount owed earlier than it is due. Early payments will not, unless agreed to by ▇▇▇▇▇▇ Lender in writing, relieve ▇▇▇▇▇▇▇▇ Borrower of ▇▇▇▇▇▇▇▇Borrower's obligation to continue to make payments of accrued unpaid interestunder the payment schedule. Rather, they will reduce the principal balance duedue and may result in Borrower making fewer payments.

Appears in 1 contract

Sources: Loan Agreement (Champion Industries Inc)

Minimum Interest Charge. In any event, even upon full prepayment of this Note, Borrower understands that Lender is entitled to a minimum interest charge of $50.00100.00. Other than ▇▇▇▇▇▇▇▇Borrower's obligation to pay any minimum interest charge, Borrower may pay without penalty all or a portion of the amount owed earlier than it is due. Early payments will not, unless agreed to by ▇▇▇▇▇▇ Lender in writing, relieve ▇▇▇▇▇▇▇▇ Borrower of ▇▇▇▇▇▇▇▇Borrower's obligation to continue to make payments of accrued unpaid interest. Rather, they will reduce the principal balance due.

Appears in 1 contract

Sources: Commercial Pledge and Security Agreement (Lifepoint Inc)

Minimum Interest Charge. In any event, even upon full prepayment of this Note, Borrower understands that Lender is entitled to a minimum interest charge of $50.00100.00. Other than ▇▇▇▇▇▇▇▇Borrower's obligation to pay any minimum interest charge, Borrower may pay without penalty all or a portion of the amount owed earlier than it is due. Early payments will not, unless agreed to by ▇▇▇▇▇▇ Lender in writing, relieve ▇▇▇▇▇▇▇▇ Borrower of ▇▇▇▇▇▇▇▇Borrower's obligation to continue to make payments of accrued unpaid interest. Rather, Rather they will reduce the principal balance due.

Appears in 1 contract

Sources: Promissory Note (New Horizons Worldwide Inc)