Common use of Calculation of Charges Clause in Contracts

Calculation of Charges. (a) Dealers shall pay fees, charges and interest (collectively, “Charges”) with respect to each advance in accordance with this Agreement and pursuant to the terms of the Program Terms Letter. Dealers shall pay Agent its customary Charges for any check or other item which is returned unpaid to Agent. Unless otherwise provided in this Agreement, the following additional provisions shall be applicable to Charges: (i) all Charges shall be paid by Dealers monthly pursuant to the terms of the billing statement in which such Charges appear; (ii) interest on each advance and principal amount of the Obligations related thereto shall be computed each calendar month on the sum of the daily balances thereof during such month divided by thirty (30) and (A) in the case where a monthly rate of interest is provided for, multiplied by the monthly rate provided for in this Agreement; or (B) in the case where an annual rate of interest is provided for, multiplied by one-twelfth of the annual rate provided for in this Agreement; or (C) in the case where a daily rate of interest is provided for, multiplied by such daily rate and multiplied by thirty (30); (iii) interest on an advance shall begin to accrue on the “Start Date” which shall be defined as the earlier of: (A) the invoice date referred to in the Vendor’s Invoice; or (B) the date any one or more Lenders make such advance; provided, however, if a Vendor fails to fully pay, by honoring or paying any Lender Credit or otherwise, the interest or other cost of financing such inventory during the period between the Start Date and the end of the Free Floor Period, then Dealers shall pay such interest to Agent on behalf of Lenders on demand as if there were no Free Floor Period with respect to such inventory; (iv) for the purpose of computing Charges, any payment will be credited pursuant to Agent’s payment recognition policy, as in effect from time to time; and (v) advances or any part thereof not paid when due (and Charges not paid when due, at the option of Agent, shall become part of the principal amount of the Obligations and) shall bear interest at the Default Rate.

Calculation of Charges. (a) Dealers shall pay fees, charges and interest (collectively, “Charges”) with respect to each advance in accordance with this Agreement and pursuant to the terms of the Program Terms LetterAgreement. Dealers Dealer shall pay Agent its customary Charges Charge for any check or other item which is returned unpaid to Agent. Unless otherwise provided in this the Agreement, the following additional provisions shall be applicable to Charges: (i) any reference to “Prime Rate,” “One month Libor,” and/or “Three Month Libor” shall mean, for any calendar month, an interest rate (calculated on a 360-day year basis as set forth herein) equal to the highest “prime rate,” “One month Libor,” and/or “Three month Libor” rate, respectively, as published in the “Money Rates” column of The Wall Street Journal on the first Business Day of such month; if for any reason such rate is no longer published in The Wall Street Journal, Agent shall select such replacement index as Agent in its sole discretion determines most closely approximates such rate; (ii) all Charges shall be paid by Dealers Dealer monthly pursuant to the terms of the billing statement in which such Charges appear; (iiiii) interest on each advance and principal amount of the Obligations related thereto shall be computed for any period by dividing the interest rate provided in each calendar month on applicable Transaction Statement by 360 (the sum quotient of which is herein referred to as the daily balances thereof during such month divided “Daily Rate”), and then multiplying the Daily Rate by thirty (30) and either (A) in the case where a monthly rate of interest is provided foraverage principal balance outstanding during such period, multiplied by the monthly rate provided for in this Agreement; or (B) in the case where an annual rate of interest is provided for, multiplied by one-twelfth of the annual rate provided for in this Agreement; or (C) in the case where a daily rate of interest is provided for, multiplied by actual principal balance outstanding on each day during such daily rate and multiplied by thirty (30)period; (iiiiv) interest on an advance shall begin to accrue on the “Start Date” , which shall be defined as the earlier of: (A) the invoice date referred to in the Vendor’s Invoiceinvoice; or (B) the ship date referred to in the Vendor’s invoice; or (C) the date any one or more Lenders make such advance; provided, however, if a Vendor fails to fully pay, by honoring or paying any Lender Credit or otherwise, the interest or other cost of financing such inventory during the period between the Start Date and the end of the Free Floor PeriodPeriod (as defined below), then Dealers shall pay such interest to Agent on behalf of Lenders Lenders, on demand as if there were no Free Floor Period with respect to such inventory; (ivv) for the purpose of computing Charges, any payment will be credited pursuant to Agent’s payment recognition policypolicies, as in effect from time to time; and (vvi) advances or any part thereof not paid when due (and Charges not paid when due, at the option of Agent, shall become part of the principal amount of the Obligations and) shall bear interest at the Default Rate.Rate (as defined below); and (vii) all interest rates provided or referenced in Transaction Statements, including all references to base rate, prime rate and additions to base rate or prime rate, are provided and referenced on the basis of a 360-day year. The method of calculating interest provided in this Section 11(a) (i.e., the interest rate calculated based on a year of 360 days, for the actual number of days elapsed) will result in a higher effective rate than the quoted numeric rate provided in the Transaction Statement. For purposes of this Agreement, the following definitions shall apply: “

Calculation of Charges. (aDealer will pay finance charges to CDF on the outstanding principal debt which Dealer owes CDF for each item of Collateral financed by CDF at the rate(s) Dealers shall pay feesshown on the Transaction Statement for such Collateral, unless Dealer objects thereto as provided in Section 2. CDF will calculate such finance charges and interest (collectively, “Charges”) with respect to each advance by multiplying the Daily Charge by the actual number of days in the applicable billing period. Such finance charges will accrue from the invoice date of the Collateral identified on such Transaction Statement until CDF is paid in full in accordance with this Agreement CDF's payment recognition policy, and pursuant CDF applies such payment to the terms of the Program Terms Letter. Dealers shall pay Agent its customary Charges for any check or other item which is returned unpaid to Agent. Unless otherwise Dealer's principal debt as provided in this Agreement. The "Daily Charge" is the Daily Rate multiplied by the Average Daily Balance. The "Daily Rate" is the annual rate shown on the Transaction Statement divided by 360, or the following additional provisions shall be applicable to Chargesmonthly rate shown on the Transaction Statement divided by 30. The "Average Daily Balance" equals: (i) all Charges shall be paid by Dealers monthly pursuant to the terms of the billing statement in which such Charges appear; (ii) interest on each advance and principal amount of the Obligations related thereto shall be computed each calendar month on the sum of the daily balances thereof during such month outstanding principal debt owed CDF on each day of a billing period for each item of Collateral identified on a Transaction Statement, divided by thirty (30ii) and the actual number of days in such billing period. Dealer will pay CDF $25 (Aor such other amount as may be communicated pursuant to Section 11(b) in below) for each check returned unpaid for insufficient funds (an "NSF check") (such payment repays CDF's estimated administrative costs; it does not waive the case where a monthly default caused by the NSF check). The annual percentage rate of interest is provided the finance charges for any item of Collateral financed by CDF will be calculated from the invoice date of such Collateral, regardless of any period for which a third party pays a finance charge subsidy. CDF intends to strictly conform to the usury laws governing this Agreement. Regardless of any provision contained herein, in any Transaction Statement, or in any other document, CDF shall never be deemed to have contracted for, multiplied by the monthly rate provided for charged or be entitled to receive, collect or apply as interest, any amount in this Agreement; or (B) in the case where an annual rate of interest is provided for, multiplied by one-twelfth excess of the annual rate provided for in this Agreement; maximum amount allowed by applicable law. If CDF ever receives any amount which, if considered to be interest, would exceed the maximum amount permitted by law, CDF will apply such excess amount to the reduction of the unpaid principal balance which Dealer owes, and then will pay any remaining excess to Dealer. In determining whether the interest paid or (C) in payable exceeds the case where a daily rate of interest is provided forhighest lawful rate, multiplied by such daily rate Dealer and multiplied by thirty (30); (iii) interest on an advance shall begin CDF shall, to accrue on the “Start Date” which shall be defined as the earlier ofmaximum extent permitted under applicable law: (A) the invoice date referred to in the Vendor’s Invoicecharacterize any non-principal payment (other than payments which are expressly designated as interest payments hereunder) as an expense or fee rather than as interest; or (B) exclude voluntary pre-payments and the date any one or more Lenders make such advanceeffect thereof; provided, however, if a Vendor fails to fully pay, by honoring or paying any Lender Credit or otherwise, and (C) spread the total amount of interest throughout the entire term of this Agreement so that the interest rate is uniform throughout such term. CDF will recognize and credit payments made by check, ACH, federal wire, or other cost of financing such inventory during the period between the Start Date and the end of the Free Floor Periodmeans, then Dealers shall pay such interest according to Agent on behalf of Lenders on demand as if there were no Free Floor Period with respect to such inventory; (iv) for the purpose of computing Charges, any payment will be credited pursuant to Agent’s its payment recognition policy, as in effect policies from time to time; and (vtime in effect, or as otherwise agreed. Information regarding CDF payment recognition policies is available from Dealer's CDF representative, the CDF website, or will be communicated pursuant to Section 11(b) advances or any part thereof not paid when due (and Charges not paid when due, at the option of Agent, shall become part of the principal amount of the Obligations and) shall bear interest at the Default Ratebelow.

Calculation of Charges. (aDealer will pay finance charges to CDF on the outstanding principal debt which Dealer owes CDF for each item of Collateral financed by CDF at the rate(s) Dealers shall pay feesshown on the Transaction Statement for such Collateral, unless Dealer objects thereto as provided in Section 2. CDF will calculate such finance charges and interest (collectively, “Charges”) with respect to each advance by multiplying the Daily Charge by the actual number of days in the applicable billing period. Such finance charges will accrue from the invoice date of the Collateral identified on such Transaction Statement until CDF is paid in full in accordance with this Agreement and pursuant to the terms of the Program Terms Letter. Dealers shall pay Agent its customary Charges for any check or other item which is returned unpaid to Agent. Unless otherwise provided in this Agreement, the following additional provisions shall be applicable to Charges: (i) all Charges shall be paid by Dealers monthly pursuant to the terms of the billing statement in which such Charges appear; (ii) interest on each advance and principal amount of the Obligations related thereto shall be computed each calendar month on the sum of the daily balances thereof during such month divided by thirty (30) and (A) in the case where a monthly rate of interest is provided for, multiplied by the monthly rate provided for in this Agreement; or (B) in the case where an annual rate of interest is provided for, multiplied by one-twelfth of the annual rate provided for in this Agreement; or (C) in the case where a daily rate of interest is provided for, multiplied by such daily rate and multiplied by thirty (30); (iii) interest on an advance shall begin to accrue on the “Start Date” which shall be defined as the earlier of: (A) the invoice date referred to in the Vendor’s Invoice; or (B) the date any one or more Lenders make such advance; provided, however, if a Vendor fails to fully pay, by honoring or paying any Lender Credit or otherwise, the interest or other cost of financing such inventory during the period between the Start Date and the end of the Free Floor Period, then Dealers shall pay such interest to Agent on behalf of Lenders on demand as if there were no Free Floor Period with respect to such inventory; (iv) for the purpose of computing Charges, any payment will be credited pursuant to AgentCDF’s payment recognition policy, and CDF applies such payment to Dealer’s principal debt as provided in this Agreement. The “Daily Charge” is the Daily Rate multiplied by the Average Daily Balance. The “Daily Rate” is the annual rate shown on the Transaction Statement divided by 360, or the monthly rate shown on the Transaction Statement divided by 30. The “Average Daily Balance” equals: (i) the sum of the outstanding principal debt owed CDF on each day of a billing period for each item of Collateral identified on a Transaction Statement, divided by (ii) the actual number of days in such billing period. Dealer will pay CDF $25 (or such other amount as may be communicated pursuant to Section 11(b) below) for each check returned unpaid for insufficient funds (an “NSF check”) (such payment repays CDF’s estimated administrative costs; it does not waive the default caused by the NSF check). The annual percentage rate of the finance charges for any item of Collateral financed by CDF will be calculated from the invoice date of such Collateral, regardless of any period for which a third party pays a finance charge subsidy. CDF intends to strictly conform to the usury laws governing this Agreement. Regardless of any provision contained herein, in any Transaction Statement, or in any other document, CDF shall never be deemed to have contracted for, charged or be entitled to receive, collect or apply as interest, any amount in excess of the maximum amount allowed by applicable law. If CDF ever receives any amount which, if considered to be interest, would exceed the maximum amount permitted by law, CDF will apply such excess amount to the reduction of the unpaid principal balance which Dealer owes, and then will pay any remaining excess to Dealer. In determining whether the interest paid or payable exceeds the highest lawful rate, Dealer and CDF shall, to the maximum extent permitted under applicable law: (A) characterize any non-principal payment (other than payments which are expressly designated as interest payments hereunder) as an expense or fee rather than as interest; (B) exclude voluntary pre-payments and the effect thereof; and (C) spread the total amount of interest throughout the entire term of this Agreement so that the interest rate is uniform throughout such term. CDF will recognize and credit payments made by check, ACH, federal wire, or other means, according to its payment recognition policies from time to time; and (vtime in effect, or as otherwise agreed. Information regarding CDF payment recognition policies is available from Dealer’s CDF representative, the CDF website, or will be communicated pursuant to Section 11(b) advances or any part thereof not paid when due (and Charges not paid when due, at the option of Agent, shall become part of the principal amount of the Obligations and) shall bear interest at the Default Ratebelow.

Calculation of Charges. (a) Dealers shall pay fees, charges and interest (collectively, “Charges”) with respect to each advance in accordance with this Agreement and pursuant to the terms of the Program Terms LetterAgreement. Dealers Dealer shall pay Agent its customary Charges Charge for any check or other item which is returned unpaid to Agent. Unless otherwise provided in this the Agreement, the following additional provisions shall be applicable to Charges: (i) any reference to “Prime Rate,” “One month Libor,” and/or “Three Month Libor” shall mean, for any calendar month, an interest rate (calculated on a 360-day year basis as set forth herein) equal to the highest “prime rate,” “One month Libor,” and/or “Three month Libor” rate, respectively, as published in the “Money Rates” column of The Wall Street Journal on the first Business Day of such month; if for any reason such rate is no longer published in The Wall Street Journal, Agent shall select such replacement index as Agent in its sole discretion determines most closely approximates such rate; (ii) all Charges shall be paid by Dealers Dealer monthly pursuant to the terms of the billing statement in which such Charges appear; (iiiii) interest on each advance and principal amount of the Obligations related thereto shall be computed for any period by dividing the interest rate provided in each calendar month on applicable Transaction Statement by 360 (the sum quotient of which is herein referred to as the daily balances thereof during such month divided “Daily Rate”), and then multiplying the Daily Rate by thirty (30) and either (A) in the case where a monthly rate of interest is provided foraverage principal balance outstanding during such period, multiplied by the monthly rate provided for in this Agreement; or (B) in the case where an annual rate of interest is provided for, multiplied by one-twelfth of the annual rate provided for in this Agreement; or (C) in the case where a daily rate of interest is provided for, multiplied by actual principal balance outstanding on each day during such daily rate and multiplied by thirty (30)period; (iiiiv) interest on an advance shall begin to accrue on the “Start Date” , which shall be defined as the earlier of: (A) the invoice date referred to in the Vendor’s Invoice's invoice; or (B) the ship date referred to in the Vendor’s invoice; or (C) the date any one or more Lenders make such advance; provided, however, if a Vendor fails to fully pay, by honoring or paying any Lender Credit or otherwise, the interest or other cost of financing such inventory during the period between the Start Date and the end of the Free Floor PeriodPeriod (as defined below), then Dealers shall pay such interest to Agent on behalf of Lenders Lenders, on demand as if there were no Free Floor Period with respect to such inventory; (ivv) for the purpose of computing Charges, any payment will be credited pursuant to Agent’s payment recognition policypolicies, as in effect from time to time; and (vvi) advances or any part thereof not paid when due (and Charges not paid when due, at the option of Agent, shall become part of the principal amount of the Obligations and) shall bear interest at the Default Rate.Rate (as defined below); and (vii) all interest rates provided or referenced in Transaction Statements, including all references to base rate, prime rate and additions to base rate or prime rate, are provided and referenced on the basis of a 360-day year. The method of calculating interest provided in this Section 11(a) (i.e., the interest rate calculated based on a year of 360 days, for the actual number of days elapsed) will result in a higher effective rate than the quoted numeric rate provided in the Transaction Statement. For purposes of this Agreement, the following definitions shall apply: “

Calculation of Charges. (aDealer will pay finance charges to CDF on the outstanding principal debt which Dealer owes CDF for each item of Collateral financed by CDF at the rate(s) Dealers shall pay feesshown on the SOT for such Collateral, unless Dealer objects thereto as provided in Section 2. CDF will calculate such finance charges and interest (collectively, “Charges”) with respect to each advance by multiplying the Daily Charge by the actual number of days in the applicable billing period. Such finance charges will accrue from the invoice date of the Collateral identified on such SOT until CDF is paid in full in accordance with this Agreement and pursuant to the terms of the Program Terms Letter. Dealers shall pay Agent its customary Charges for any check or other item which is returned unpaid to Agent. Unless otherwise provided in this Agreement, the following additional provisions shall be applicable to Charges: (i) all Charges shall be paid by Dealers monthly pursuant to the terms of the billing statement in which such Charges appear; (ii) interest on each advance and principal amount of the Obligations related thereto shall be computed each calendar month on the sum of the daily balances thereof during such month divided by thirty (30) and (A) in the case where a monthly rate of interest is provided for, multiplied by the monthly rate provided for in this Agreement; or (B) in the case where an annual rate of interest is provided for, multiplied by one-twelfth of the annual rate provided for in this Agreement; or (C) in the case where a daily rate of interest is provided for, multiplied by such daily rate and multiplied by thirty (30); (iii) interest on an advance shall begin to accrue on the “Start Date” which shall be defined as the earlier of: (A) the invoice date referred to in the Vendor’s Invoice; or (B) the date any one or more Lenders make such advance; provided, however, if a Vendor fails to fully pay, by honoring or paying any Lender Credit or otherwise, the interest or other cost of financing such inventory during the period between the Start Date and the end of the Free Floor Period, then Dealers shall pay such interest to Agent on behalf of Lenders on demand as if there were no Free Floor Period with respect to such inventory; (iv) for the purpose of computing Charges, any payment will be credited pursuant to AgentCDF’s payment recognition policy, and CDF applies such payment to Dealer’s principal debt as provided in this Agreement. The “Daily Charge” is the Daily Rate multiplied by the Average Daily Balance. The “Daily Rate” is the annual rate shown on the SOT divided by 360, or the monthly rate shown on the SOT divided by 30. The “Average Daily Balance” equals: (i) the sum of the outstanding principal debt owed CDF on each day of a billing period for each item of Collateral identified on a SOT, divided by (ii) the actual number of days in such billing period. Dealer will pay CDF $100 (or such other amount as may be communicated pursuant to Section 11(b) below) for each check returned unpaid for insufficient funds (an “NSF check”) (such payment repays CDF’s estimated administrative costs; it does not waive the default caused by the NSF check). The annual percentage rate of the finance charges for any item of Collateral financed by CDF will be calculated from the invoice date of such Collateral, regardless of any period for which a third party pays a finance charge subsidy. CDF intends to strictly conform to the usury laws governing this Agreement. Regardless of any provision contained herein, in any SOT, or in any other document, CDF shall never be deemed to have contracted for, charged or be entitled to receive, collect or apply as interest, any amount in excess of the maximum amount allowed by applicable law. If CDF ever receives any amount which, if considered to be interest, would exceed the maximum amount permitted by law, CDF will apply such excess amount to the reduction of the unpaid principal balance which Dealer owes, and then will pay any remaining excess to Dealer. In determining whether the interest paid or payable exceeds the highest lawful rate, Dealer and CDF shall, to the maximum extent permitted under applicable law: (A) characterize any non-principal payment (other than payments which are expressly designated as interest payments hereunder) as an expense or fee rather than as interest; (B) exclude voluntary pre-payments and the effect thereof; and (C) spread the total amount of interest throughout the entire term of this Agreement so that the interest rate is uniform throughout such term. CDF will recognize and credit payments made by check, ACH, federal wire, or other means, according to its payment recognition policies from time to time; and (vtime in effect, or as otherwise agreed. Information regarding CDF payment recognition policies is available from Dealer’s CDF representative, the CDF website, or will be communicated pursuant to Section 11(b) advances or any part thereof not paid when due (and Charges not paid when due, at the option of Agent, shall become part of the principal amount of the Obligations and) shall bear interest at the Default Ratebelow.