Excess Mileage Fee Clause Samples

The Excess Mileage Fee clause establishes a charge that applies when a lessee or user exceeds a predetermined mileage limit on a leased vehicle. Typically, the contract will specify a maximum number of miles allowed during the lease term, and any miles driven beyond this limit incur an additional fee, often calculated on a per-mile basis. This clause serves to compensate the lessor for the increased wear and tear or depreciation resulting from higher-than-expected vehicle usage, thereby protecting the asset's value and ensuring fair use.
Excess Mileage Fee. The Excess Mileage Fee for a Lease, if applicable, shall be calculated in accordance with the method that the Lease Provider uses in its usual course of business for the Lease type requested by the Authorized User. The Excess Mileage Fee shall be set forth in the Lease, and shall not be charged if the Authorized User exercises its right to purchase the Lease Vehicle at the end of the Lease Term.
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Excess Mileage Fee. Company shall pay, with respect to each Envoy Vehicle, an excess mileage fee of $0.65 per mile for each mile over the Mileage Cap (as defined below) driven by such Envoy Vehicle prior to the return of such Envoy Vehicle to Envoy pursuant to and in accordance with the terms of the Agreement (the “Excess Mileage Fee”). As used herein and in the Agreement, “
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Related to Excess Mileage Fee

  • Mileage Allowance The state agrees to seek continued funding to provide for the payment of a mileage allowance for the use of privately owned vehicles for official travel at the rate provided in section 112.061(7)(d)1., F.S.

  • Usage Fee For all days on which the Aggregate Outstanding Credit Exposure exceeds 50% of the Aggregate Commitment, the Parent agrees to pay to the Administrative Agent for the account of each Lender according to its Pro Rata Share a usage fee at a per annum rate equal to the Applicable Fee Rate on the amount of the Aggregate Outstanding Credit Exposure from the date hereof to and including the Facility Termination Date, payable on each Payment Date hereafter, on each respective Commitment Maturity Date, and on the Facility Termination Date.

  • Monthly Payment City shall make monthly payments, based on invoices received, for services satisfactorily performed, and for authorized reimbursable costs incurred. City shall have 30 days from the receipt of an invoice that complies with all of the requirements above to pay Consultant.

  • Excess Expenses If the expenses for any Portfolio for any fiscal year (including fees and other amounts payable to the Adviser, but excluding interest, taxes, brokerage costs, litigation, and other extraordinary costs) as calculated every business day would exceed the expense limitations imposed on investment companies by any applicable statute or regulatory authority of any jurisdiction in which shares of a Portfolio are qualified for offer and sale, the Adviser shall bear such excess cost. However, the Adviser will not bear expenses of any Portfolio which would result in the Portfolio's inability to qualify as a regulated investment company under provisions of the Internal Revenue Code. Payment of expenses by the Adviser pursuant to this Section 5 shall be settled on a monthly basis (subject to fiscal year end reconciliation) by a reduction in the fee payable to the Adviser for such month pursuant to Section 3 and, if such reduction shall be insufficient to offset such expenses, by reimbursing the Trust.

  • Non-Usage Fee The Borrower shall pay, in accordance with Section 2.04, pro rata to each Lender (either directly or through the applicable Lender Agent), a non-usage fee (the “Non-Usage Fee”) payable in arrears for each Remittance Period, equal to the sum of the products for each day during such Remittance Period of (i) one divided by 360, (ii) the applicable Non-Usage Fee Rate (as defined below) and (iii) the aggregate Commitments minus the Advances Outstanding on such day (such amount, the “Unused Portion”). The Non-Usage Fee Rate (the “Non-Usage Fee Rate”) shall be, from and after the Ninth Amendment Closing Date, (x) 0.50% on any Unused Portion up to or equal to an amount equal to 25% of the Maximum Facility Amount and (y) 2.00% on any Unused Portion in excess of such amount equal to 25% of the Maximum Facility Amount.