Common use of Finance Charges Clause in Contracts

Finance Charges. On each Reconciliation Date Seller shall pay to Buyer a finance charge in an amount equal to 2.00 (%) percent per month of the average daily Account Balance outstanding during the applicable Reconciliation Period (the "Finance Charges"). Buyer shall deduct the accrued Finance Charges from the Reserve as set forth in Section 3.5 below.

Appears in 2 contracts

Samples: Loan Agreement (Image Guided Technologies Inc), Accounts Receivable Purchase Agreement (Gensym Corp)

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Finance Charges. On each Reconciliation Date Seller shall pay to Buyer a finance charge in an amount equal to 2.00 (%) percent 1.00 percentage points above Prime Rate per month annum of the gross average daily Account Balance outstanding during the applicable Reconciliation Period (the "Finance Charges"). Notwithstanding the foregoing, on each Reconciliation Date, Seller shall pay to Buyer a minimum $3,000.00 Finance Charge. Buyer shall deduct the accrued Finance Charges from the Reserve as set forth in Section 3.5 below.

Appears in 2 contracts

Samples: Accounts Receivable Purchase Agreement, Accounts Receivable Purchase Agreement (Aml Communications Inc)

Finance Charges. On each Reconciliation Date Seller shall pay to Buyer a finance charge in an amount equal to 2.00 (%5.0(%) percent percentage points above the Prime Rate per month annum of the gross average daily Account Balance outstanding during the applicable Reconciliation Period (the "Finance Charges"). Buyer shall deduct the accrued Finance Charges from the Reserve as set forth in Section 3.5 below.

Appears in 2 contracts

Samples: Accounts Receivable Purchase Agreement, Accounts Receivable Purchase Agreement (Egain Communications Corp)

Finance Charges. On each Reconciliation Date Seller shall pay to Buyer a finance charge in an amount equal to 2.00 1.75 (%) percent per month of the average daily Account Balance outstanding during the applicable Reconciliation Period (the "Finance Charges"). Buyer shall deduct the accrued Finance Charges from the Reserve as set forth in Section 3.5 below.

Appears in 2 contracts

Samples: Accounts Receivable Purchase Agreement (Docucon Incorporated), Accounts Receivable Purchase Agreement (Analogy Inc)

Finance Charges. On each Reconciliation Date Seller shall pay to Buyer a finance charge in an amount equal to 2.00 1.75 (%) percent per month of the average -------- daily Account Balance outstanding during the applicable Reconciliation Period (the "Finance Charges"). Buyer shall deduct the accrued Finance Charges from the Reserve as set forth in Section 3.5 below.

Appears in 2 contracts

Samples: Factoring Agreement (Sound Source Interactive Inc /De/), Accounts Receivable Purchase Agreement (Bio Imaging Technologies Inc)

Finance Charges. On each Reconciliation Date Date, Seller shall pay to Buyer a finance charge in an amount equal to 2.00 (%) one percent per month of the average daily Account Balance outstanding during the applicable Reconciliation Period (the "Finance Charges"). Buyer shall deduct the accrued Finance Charges from the Reserve as set forth in Section 3.5 below.

Appears in 1 contract

Samples: Factoring Agreement (Cross Z International Inc)

Finance Charges. On each Reconciliation Date Seller shall pay to Buyer a finance charge in (the "Finance Charges"), which is the greater of (i) Minimum Finance Charge; or (ii) an amount equal to 2.00 (%5.00(%) percent percentage pints above Prime Rate per month annum of the gross average daily Account Balance outstanding during the applicable Reconciliation Period (the "Finance Charges")Period. Buyer shall deduct the accrued Finance Charges from the Reserve as set forth in Section 3.5 below.

Appears in 1 contract

Samples: Accounts Receivable Purchase Agreement (Starbase Corp)

Finance Charges. On each Reconciliation Date Seller shall pay to Buyer a finance charge in an amount equal to 2.00 (%2.0(%) percent per month of the average daily Account Balance outstanding during the applicable Reconciliation Period (the "Finance Charges"). Buyer shall deduct the accrued Finance Charges from the Reserve as set forth in Section 3.5 below. *SEE ADDENDUM TO FACTORING AGREEMENT.

Appears in 1 contract

Samples: Factoring Agreement (Data Dimensions Inc)

Finance Charges. On each Reconciliation Date Seller shall pay to Buyer a finance charge in an amount equal to 2.00 (%1.5(%) percent per month of the average daily Account Balance outstanding during the applicable Reconciliation Period (the "Finance Charges"). Buyer shall deduct the accrued Finance Charges from the Reserve as set forth in Section 3.5 below.

Appears in 1 contract

Samples: Factoring Agreement (Zycad Corp)

Finance Charges. On each Reconciliation Date Seller shall pay to Buyer a finance charge in an amount equal to 2.00 (%1(%) percent per month of the average daily Account Balance outstanding during the applicable Reconciliation Period (the "Finance Charges"). Buyer shall deduct the accrued Finance Charges from the Reserve as set forth in Section 3.5 below.

Appears in 1 contract

Samples: Accounts Receivable Purchase Agreement (Zamba Corp)

Finance Charges. On each Reconciliation Date Seller shall pay to Buyer a finance charge in an amount equal to 2.00 (%) 1.30 percent per month of the average daily Account Balance outstanding during the applicable Reconciliation Period (the "Finance Charges"). Buyer shall deduct the accrued Finance Charges from the Reserve as set forth in Section 3.5 below.

Appears in 1 contract

Samples: Accounts Receivable Purchase Agreement (Peritus Software Services Inc)

Finance Charges. On each Reconciliation Date Seller shall pay to Buyer a finance charge in an amount equal to 2.00 (%1.50(%) percent per month of the ------- average daily Account Balance outstanding during the applicable Reconciliation Period (the "Finance Charges"). Buyer shall deduct the accrued Finance Charges from the Reserve as set forth in Section 3.5 below.

Appears in 1 contract

Samples: Accounts Receivable Purchase Agreement (Rapidtron Inc)

Finance Charges. On each Reconciliation Date Seller shall pay to Buyer a finance charge in an amount equal to 2.00 (%1.5(%) percent per month of the average daily Account Balance outstanding during the applicable Reconciliation Period (the "'Finance Charges"'). Buyer shall deduct the accrued Finance Charges from the Reserve as set forth in Section 3.5 below.

Appears in 1 contract

Samples: Factoring Agreement (Source Scientific Inc)

Finance Charges. On each Reconciliation Date Seller shall pay to Buyer a finance charge in an amount equal to 2.00 (%) percent 2.5% percentage points above Prime Rate per month annum of the gross average daily Account Balance outstanding during the applicable Reconciliation Period (the "Finance Charges"). Notwithstanding the foregoing, on each Reconciliation Date, Seller shall pay to Buyer a minimum $500.00 Finance Charge. Buyer shall deduct the accrued Finance Charges from the Reserve as set forth in Section 3.5 below.

Appears in 1 contract

Samples: Accounts Receivable Purchase Agreement (P Com Inc)

Finance Charges. On each Reconciliation Date Date, Seller shall pay to Buyer a finance charge in an amount at a per annum rate equal to 2.00 the aggregate of the Buyer's Prime Rate and two and one-half percent (2.5%) percent per month of ), on the average daily Account Balance outstanding during the applicable Reconciliation Period (the "Finance Charges"). Buyer shall deduct the accrued Finance Charges from the Reserve as set forth in Section 3.5 3.6 below.

Appears in 1 contract

Samples: Accounts Receivable Purchase Agreement (Log on America Inc)

Finance Charges. On each Reconciliation Date Seller shall pay to Buyer a finance charge in an amount equal to 2.00 (%) percent percentage points above the Prime Rate per month of annum multiplies by the gross average daily Account Balance outstanding during the applicable Reconciliation Period (the "Finance Charges"). Buyer shall deduct the accrued Finance Charges from the Reserve as set forth in Section 3.5 below.

Appears in 1 contract

Samples: Accounts Receivable Purchase Agreement (Voxware Inc)

Finance Charges. On each Reconciliation Date Seller shall pay to Buyer a finance charge in an amount equal to 2.00 (%) percent per month of the average daily Account Balance outstanding during the applicable Reconciliation Period (the "Finance Charges"). Buyer shall deduct the accrued Finance Charges from the Reserve as set forth in In Section 3.5 3.7 below.

Appears in 1 contract

Samples: Accounts Receivable Purchase Agreement (Agritope Inc)

Finance Charges. On each Reconciliation Date Seller shall pay to Buyer a finance charge in an amount equal to 2.00 (%2.0(%) percent per month of the average daily Account Balance outstanding during the applicable Reconciliation Period (the "Finance Charges"). Buyer shall deduct the accrued Finance Charges from the Reserve as set forth in Section 3.5 below.

Appears in 1 contract

Samples: Factoring Agreement (Oxis International Inc)

Finance Charges. On each Reconciliation Date Seller shall pay to Buyer a finance charge in an amount equal to 2.00 1.30 (%) percent per month of the average daily Account Balance outstanding during the applicable Reconciliation Period (the "Finance Charges"). Buyer shall deduct the accrued Finance Charges from the Reserve as set forth in Section 3.5 below.

Appears in 1 contract

Samples: Accounts Receivable Purchase Agreement (Cognigen Networks Inc)

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Finance Charges. On each Reconciliation Date Seller shall pay to Buyer a finance charge in an amount equal to 2.00 two percent (2%) percent per month of the average daily Account Balance outstanding during the applicable Reconciliation Period (the "Finance Charges"). Buyer shall deduct the accrued Finance Charges from the Reserve as set forth in Section 3.5 below.

Appears in 1 contract

Samples: Accounts Receivable Purchase Agreement (Adept Technology Inc)

Finance Charges. On each Reconciliation Date Seller shall pay to Buyer a finance charge in an amount equal to 2.00 1.25 (%) percent per month of the average daily Account Balance outstanding during the applicable Reconciliation Period (the "Finance Charges"). Buyer shall deduct the accrued Finance Charges from the Reserve as set forth in Section 3.5 below.

Appears in 1 contract

Samples: Accounts Receivable Purchase Agreement (Starbase Corp)

Finance Charges. On each Reconciliation Date Seller shall pay to Buyer a finance charge in an amount equal to 2.00 (%2.5(%) percent per month of the average daily Account Balance outstanding during the applicable Reconciliation Period (the "'Finance Charges"'). Buyer shall deduct the accrued Finance Charges from the Reserve as set forth in Section 3.5 below.

Appears in 1 contract

Samples: Factoring Agreement (Source Scientific Inc)

Finance Charges. On each Reconciliation Date Seller shall pay to Buyer a finance charge in an amount equal to 2.00 the Bank's Prime Rate, plus four percent (4.0%) percent per month annum, of the average daily Account Balance outstanding during the applicable Reconciliation Period (the "Finance Charges"). Buyer shall deduct the accrued Finance Charges from the Reserve as set forth in Section 3.5 below.

Appears in 1 contract

Samples: Accounts Receivable Purchase Agreement (Ace Comm Corp)

Finance Charges. On each Reconciliation Date Seller shall pay to Buyer a finance charge in an amount equal to 2.00 (%) percent 1.45 percentage points above Prime Rate per month annum of the gross average daily Account Balance outstanding during the applicable Reconciliation Period (the "Finance Charges"). Notwithstanding the foregoing, on each Reconciliation Date, Seller shall pay to Buyer a minimum $500.00 Finance Charge. Buyer shall deduct the accrued Finance Charges from the Reserve as set forth in Section 3.5 below.

Appears in 1 contract

Samples: Accounts Receivable Purchase Agreement (Timeline Inc)

Finance Charges. On each Reconciliation Date Seller shall pay to Buyer a finance charge in an amount equal to 2.00 1.25 (%) percent per month of the average daily Account Balance outstanding during the applicable Reconciliation Period (the "Finance Charges"). Effective March 1, 1999, Seller shall pay to Buyer a Finance Charge in an amount equal to 2.25 (%) percent per month of the average daily Account Balance outstanding during the applicable Reconciliation Period. Buyer shall deduct the accrued Finance Charges from the Reserve as set forth in Section 3.5 below.

Appears in 1 contract

Samples: Accounts Receivable Purchase Agreement (Perficient Inc)

Finance Charges. On each Reconciliation Date Seller shall pay to Buyer a finance charge in an amount equal to 2.00 a per annum rate equal to the aggregate of the Bank's Prime Rate, plus four percent (4.0%) percent per month of ), multiplied by the average daily Account Balance outstanding during the applicable Reconciliation Period (the "Finance Charges"). Buyer shall deduct the accrued Finance Charges from the Reserve as set forth in Section 3.5 3.6 below.

Appears in 1 contract

Samples: Accounts Receivable Purchase Agreement (Focus Enhancements Inc)

Finance Charges. On each Reconciliation Date Seller shall pay to Buyer a finance charge in an amount equal to 2.00 2.50 percentage points above the Prime Rate per annum (BUT NO LESS THAN 6.75%) percent per month of multiplied by the gross average daily Account Balance outstanding during the applicable Reconciliation Period (the "Finance Charges"). Buyer shall deduct the accrued Finance Charges from the Reserve as set forth in Section 3.5 below.

Appears in 1 contract

Samples: Accounts Receivable Purchase Agreement (Superconductor Technologies Inc)

Finance Charges. On each Reconciliation Date Seller shall pay to Buyer a finance charge in an amount equal to 2.00 the greater of (%a) percent Five Thousand Dollars ($5,000) for such Reconciliation Period, and (b) the product of (i) 0.875% per month of multiplied by (ii) the average daily Account Balance outstanding during the applicable Reconciliation Period (the "Finance Charges"). Buyer shall deduct the accrued Finance Charges from the Reserve as set forth in Section 3.5 below.

Appears in 1 contract

Samples: Accounts Receivable Purchase Agreement (Nstor Technologies Inc)

Finance Charges. On each Reconciliation Date Seller shall pay to Buyer a finance charge in an amount equal to 2.00 (%1.75(%) percent per month of the average daily Account Balance outstanding during the applicable Reconciliation Period (the "Finance Charges"). Buyer shall deduct the accrued Finance Charges from the Reserve as set forth in Section 3.5 below.

Appears in 1 contract

Samples: Accounts Receivable Purchase Agreement (Open Market Inc)

Finance Charges. On each Reconciliation Date Seller shall pay to Buyer a finance charge in an amount equal to 2.00 (a) 1.50 (%) percent per month of the average daily Account Balance outstanding during the applicable Reconciliation Period Period, and (b) an additional .25 (%) percent per month effective December 1, 1998 (the "Finance Charges"). Buyer shall deduct the accrued Finance Charges from the Reserve as set forth in Section 3.5 below.

Appears in 1 contract

Samples: Accounts Receivable Purchase Agreement (Integrated Packaging Assembly Corp)

Finance Charges. On each Reconciliation Date Seller Date, Sellers shall pay to Buyer a finance charge in an amount equal to 2.00 one and one-quarter percent (1.25%) percent per month of the their respective average daily Account Balance outstanding during the applicable Reconciliation Period (the "Finance Charges"). In computing Finance Charges, all Collections received by Bank shall be deemed applied by Bank to the Account Balance, 3 Business Days after receipt of the Collections. Buyer shall deduct the accrued Finance Charges from the Reserve as set forth in Section 3.5 below.

Appears in 1 contract

Samples: Accounts Receivable Purchase Agreement (Return on Investment Corp)

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