Exposure Cap Sample Clauses

Exposure Cap. Spinach Pay will, in its sole discretion, assign you an Exposure Cap, expressed as a percentage. This percentage is calculated as the amount of outstanding Declined Payments relative to the amount of processed payments during the calendar month where the Collection Period (60 days) has ended.The Exposure Cap may go up or down depending on the number of Declined Payments during a given billing period. Using an assigned 1% Exposure Cap as an example, if Spinach Pay has facilitated payments for you totaling $1,000 during January, and out of those, $50 was declined and $10 was collected via Spinach Pay’s debt collection efforts (such that $40 is still outstanding), you would be billed $30 after the Collection Period ends and Spinach Pay will absorb the $10 (1% of $1,000). If your company engages in business to business transactions (B2B), then an Exposure Cap may not apply. Spinach Pay will reclaim any Declined Payments as soon as processing allows and avoid the Collection Period. Any questions related to Declined Payments can be sent to xxxxxxx@XxxxxxxXxx.xxx.
Sample 1
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Exposure Cap. Notwithstanding anything in this Agreement to the contrary, IOC shall not be obligated to pay Agrifos more than [*] at any given time for Subject Tons that have not been resold by IOC. Upon such Subject Tons being sold, IOC shall pay Agrifos promptly for same within four (4) days of such sale. IOC shall grant to Agrifos a first priority security interest in and to any such Subject Tons until the same are resold by IOC and payment with respect to same is received by Agrifos. Any such Subject Tons would be stored in a bonded warehouse (or such other warehouse as may be satisfactory to Agrifos) and insured by IOC, with Agrifos being named as an additional insured under IOC’s insurance policy.
Sample 1

Related to Exposure Cap

  • Exposure For purposes of this Agreement and any other Transaction Document, in determining a party’s Exposure under this Agreement, all outstanding Transactions shall be deemed to be in effect at the time of such determination notwithstanding the Effective Date thereof as set out in the relevant Confirmation.

  • Maximum Leverage Permit, as of any fiscal quarter end, the ratio of (a) Adjusted Portfolio Equity as of such fiscal quarter end to (b) Funded Debt as of such fiscal quarter end, to be less than 5.00 to 1.00.

  • Reallocation to a Class with a Lower Salary Range Maximum 1. If the employee meets the skills and abilities requirements of the position and chooses to remain in the reallocated position, the employee retains the existing appointment status and has the right to be placed on the Employer’s internal layoff list for the classification occupied prior to the reallocation. 2. If the employee chooses to vacate the position or does not meet the skills and abilities requirements of the position, the layoff procedure specified in Article 31 of this Agreement applies.

  • Minimum Amounts and Maximum Number of Tranches All borrowings, prepayments, conversions and continuations of Loans hereunder and all selections of Interest Periods hereunder shall be in such amounts and be made pursuant to such elections so that, after giving effect thereto, the aggregate principal amount of the Loans comprising each Eurodollar Tranche shall be equal to $10,000,000 or a whole multiple of $1,000,000 in excess thereof. In no event shall there be more than five Eurodollar Tranches outstanding at any time.

  • Total Commitment The sum of the Commitments of the Banks, as in effect from time to time.

  • Minimum Current Ratio On a consolidated basis with its Subsidiaries, Borrower shall maintain at all times a minimum Current Ratio of not less than 1.20 to 1.00, which shall be measured as of the end of each calendar quarter by Lender.

  • Maximum Credit Patheon's liability for Active Materials calculated in accordance with this Section 2.2 for any Product in a Year will not exceed, in the aggregate, the Maximum Credit Value set forth in Schedule D to a Product Agreement.

  • Undrawn Availability After giving effect to the initial Advances hereunder, Borrowers shall have Undrawn Availability of at least $10,000,000;

  • Excess Availability Borrowers shall have Excess Availability at all times of at least (i) as of any date of determination during the period from the April 29, 2016 through and including May 29, 2016, $10,000,000, (ii) as of any date of determination during the period from the May 30, 2016 through and including July 15, 2016, $15,000,000, (iii) as of any date of determination during the period from the July 16, 2016 through and including September 29, 2016, $17,500,000, and (iv) as of any date of during the period from September 30, 2016 through and including December 31, 2016, $20,000,000.”

  • Reallocation of Applicable Percentages to Reduce Fronting Exposure During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04, the “Applicable Percentage” of each non-Defaulting Lender shall be computed without giving effect to the Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Committed Loans of that Lender.

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