Common use of Interest Rates; Balances Deficiency Fees Clause in Contracts

Interest Rates; Balances Deficiency Fees. The Company will ---------------------------------------- pay each Lender monthly in arrears on the third Business Day of each month interest on the unpaid principal balance of each Advance of such Lender consisting of Warehousing Loans or Swingline Loans from time to time outstanding as follows: (i) with respect to Fixed Rate Advances, at the per annum rate of 1.25% (the "Fixed Rate"); provided, that if for any Balance Calculation Period the average daily Reserve-Adjusted Balances maintained by the Company with any Lender are less than an amount equal to the average daily aggregate unpaid principal balance of the Fixed Rate Advances owed to such Lender during such Balance Calculation Period (such deficiency being herein referred to as the "Balances Deficiency"), the Company will pay such Lender a fee (the "Balances Deficiency Fee") for said Balance Calculation Period on the Balances Deficiency at a per annum rate equal to 1.25% below the average daily Reference Rate in effect during said Balance Calculation Period; and provided further, that if the weighted average Reserve- Adjusted Balances maintained by the Company with any Lender for any Balance Calculation Period exceeds the weighted average daily aggregate unpaid principal balance of the Fixed Rate Advances owed to such Lender during such Balance Calculation Period (such excess being defined herein as the "Balances Surplus"), then such Balances Surplus, or, if the Company and such Lender shall so agree, the charges reduction benefit for such Balances Surplus (as determined by such Lender), may be carried forward and applied to succeeding Balance Calculation Periods (but not to any Balance Calculation Period occurring in any subsequent calendar year); (ii) with respect to Reference Rate Advances, the Reference Rate plus the Applicable Margin, as adjusted automatically on and as of the effective date of any change in the Reference Rate;

Interest Rates; Balances Deficiency Fees. The Company will ---------------------------------------- pay each Lender monthly in arrears on the third Business Day of each month Bank interest on the unpaid principal balance of each Advance of such Lender consisting of Warehousing Loans or Swingline Loans Bank from time to time outstanding as follows: (i) with respect to Fixed Rate Advances, at the per annum rate of 1.25% (the "Fixed Rate")) of 1.50%; provided, that if for any Balance Calculation Period the average daily Reserve-Adjusted Balances maintained by the Company with any Lender Bank are less than an amount equal to the average daily aggregate unpaid principal balance of the Fixed Rate Advances owed to such Lender Bank during such Balance Calculation Period (such deficiency being herein referred to as the "Balances Deficiency"), the Company will pay such Lender Bank a fee (the "Balances Deficiency Fee") for said Balance Calculation Period on the Balances Deficiency at a per annum rate equal to 1.251.50% below the average daily Reference Rate in effect during said Balance Calculation Period; and provided further, that if the weighted average Reserve- Reserve-Adjusted Balances maintained by the Company with any Lender Bank for any Balance Calculation Period exceeds the weighted average daily aggregate unpaid principal balance of the Fixed Rate Advances owed to such Lender Bank during such Balance Calculation Period (such excess being defined herein as the "Balances Surplus"), then such Balances Surplus, or, if the Company and such Lender Bank shall so agree, the charges reduction benefit for such Balances Surplus (as determined by such LenderBank), may be carried forward and applied to succeeding Balance Calculation Periods (but not to any Balance Calculation Period occurring in any subsequent calendar year); ; (ii) with respect to Reference Rate Advances, the Reference Rate Rate, plus the Applicable Margin, as adjusted automatically on and as of the effective date of any change in the Reference Rate; (iii) with respect to Eurodollar Advances, the Adjusted Eurodollar Rate, plus the Applicable Margin, as adjusted automatically on and as of the effective date of any change in the Adjusted Eurodollar Rate; and (iv) with respect to any Obligations not paid when due (i) consisting of Fixed Rate Advances, a rate per annum equal to the Fixed Rate, plus 2.0%, and (ii) consisting of other Obligations, a rate per annum equal to the Reference Rate, plus the Applicable Margin, plus 2.0%, for the period from the date such Obligations were due until the same are paid.

Interest Rates; Balances Deficiency Fees. The Company Borrowers will ---------------------------------------- pay each Lender the Agent monthly in arrears on arrears, within two Business Days after the third Business Day Company's receipt of each month Agent's statement therefor, interest on the unpaid principal balance of each Advance of such each Lender consisting of Warehousing Loans or Swingline Loans from time to time outstanding as follows: (i) with respect to Fixed Balance Funded Rate Advances, at the per annum rate of 1.25% (the "Fixed Balance Funded Rate"); provided, that if for any Balance Calculation Period the average daily Reserve-Adjusted Balances Balance Funded Amount maintained by the Company with any Lender are is less than an amount equal to the average daily aggregate unpaid principal balance of the Fixed Balance Funded Rate Advances owed to such Lender during such Balance Calculation Period (such deficiency being herein referred to as the "Balances Deficiency"), the Company Borrowers will pay such Lender a fee (the "Balances Deficiency Fee") for said Balance Calculation Period on the Balances Deficiency at a per annum rate equal to 1.25% below the average daily Reference LIBOR Rate plus Applicable Margin in effect during said Balance Calculation Period; and provided further, that if the weighted average Reserve- Adjusted Balances Balance Funded Amount maintained by the Company with any Lender for any Balance Calculation Period exceeds the weighted average daily aggregate unpaid principal balance of the Fixed Balance Funded Rate Advances owed to such Lender during such Balance Calculation Period (such excess being defined herein as the "Balances Surplus"), then such Balances Surplus, or, if the Company and such Lender shall so agree, the charges reduction benefit for such Balances Surplus (as determined by such Lender), may be carried forward and applied to succeeding Balance Calculation Periods (but not to any Balance Calculation Period occurring in any subsequent calendar year); ; (ii) with respect to Reference Prime Rate Advances, the Reference Prime Rate plus the Applicable Margin, as adjusted automatically on and as of the effective date of any change in the Reference Prime Rate; (iii) with respect to LIBOR Rate Advance the LIBOR Rate plus the Applicable Margin, as adjusted automatically on and as of the effective date of any change in the LIBOR Rate; and (iv) with respect to any Obligations not paid when due (A) consisting of Balance Funded Rate Advances, a rate per annum equal to the Balance Funded Rate plus 4.0% per annum,(B) consisting of LIBOR Rate Advances, a rate per annum equal to the LIBOR Rate plus 4.0% per annum, (C) consisting of Prime Rate Advances, a rate per annum equal to the Prime Rate plus 4.0% per annum, and (D) consisting of other Obligations, a rate per annum equal to the Prime Rate plus the Applicable Margin plus 4.0% for the period from the date such Obligations were due until the same are paid.

Interest Rates; Balances Deficiency Fees. The Company Borrowers will ---------------------------------------- pay each Lender the Agent monthly in arrears on arrears, within two Business Days after the third Business Day Company's receipt of each month Agent's statement therefor, interest on the unpaid principal balance of each Advance of such each Lender consisting of Warehousing Loans or Swingline Loans from time to time outstanding as follows: (i) with respect to Fixed Balance Funded Rate Advances, at the per annum rate of 1.25% (the "Fixed Balance Funded Rate"); provided, that if for any Balance Calculation Period the average daily Reserve-Adjusted Balances Balance Funded Amount maintained by the Company with any Lender are is less than an amount equal to the average daily aggregate unpaid principal balance of the Fixed Balance Funded Rate Advances owed to such Lender during such Balance Calculation Period (such deficiency being herein referred to as the "Balances Deficiency"), the Company Borrowers will pay such Lender a fee (the "Balances Deficiency Fee") for said Balance Calculation Period on the Balances Deficiency at a per annum rate equal to 1.25% below the average daily Reference Eurodollar Rate plus Applicable Margin in effect during said Balance Calculation Period; and provided further, that if the weighted average Reserve- Adjusted Balances Balance Funded Amount maintained by the Company with any Lender for any Balance Calculation Period exceeds the weighted average daily aggregate unpaid principal balance of the Fixed Balance Funded Rate Advances owed to such Lender during such Balance Calculation Period (such excess being defined herein as the "Balances Surplus"), then such Balances Surplus, or, if the Company and such Lender shall so agree, the charges reduction benefit for such Balances Surplus (as determined by such Lender), may be carried forward and applied to succeeding Balance Calculation Periods (but not to any Balance Calculation Period occurring in any subsequent calendar year); ; (ii) with respect to Reference Rate Advances, the Reference Rate plus the Applicable Margin, as adjusted automatically on and as of the effective date of any change in the Reference Rate; (iii) with respect to Eurodollar Rate Advance the Adjusted Eurodollar Rate plus the Applicable Margin, as adjusted automatically on and as of the effective date of any change in the Adjusted Eurodollar Rate; and (iv) with respect to any Obligations not paid when due (A) consisting of Balance Funded Rate Advances, a rate per annum equal to the Balance Funded Rate plus 4.0% per annum,(B) consisting of Eurodollar Rate Advances, a rate per annum equal to the Adjusted Eurodollar Rate plus 4.0% per annum, (C) consisting of Reference Rate Advances, a rate per annum equal to the Reference Rate plus 4.0% per annum, and (D) consisting of other Obligations, a rate per annum equal to the Reference Rate plus the Applicable Margin plus 4.0% for the period from the date such Obligations were due until the same are paid.

Interest Rates; Balances Deficiency Fees. The Company Borrowers will ---------------------------------------- pay each Lender the Agent monthly in arrears on arrears, within two Business Days after the third Business Day Company’s receipt of each month Agent’s statement therefor, interest on the unpaid principal balance of each Advance of such each Lender consisting of Warehousing Loans or Swingline Loans from time to time outstanding as follows: (i) with respect to Fixed Balance Funded Rate Advances, at the per annum rate of 1.25% (the "Fixed Balance Funded Rate"); provided, that if for any Balance Calculation Period the average daily Reserve-Adjusted Balances Balance Funded Amount maintained by the Company with any Lender are is less than an amount equal to the average daily aggregate unpaid principal balance of the Fixed Balance Funded Rate Advances owed to such Lender during such Balance Calculation Period (such deficiency being herein referred to as the "“Balances Deficiency"”), the Company Borrowers will pay such Lender a fee (the "“Balances Deficiency Fee"”) for said Balance Calculation Period on the Balances Deficiency at a per annum rate equal to 1.25% below the average daily Reference LIBOR Rate plus Applicable Margin in effect during said Balance Calculation Period; and provided further, that if the weighted average Reserve- Adjusted Balances Balance Funded Amount maintained by the Company with any Lender for any Balance Calculation Period exceeds the weighted average daily aggregate unpaid principal balance of the Fixed Balance Funded Rate Advances owed to such Lender during such Balance Calculation Period (such excess being defined herein as the "“Balances Surplus"”), then such Balances Surplus, or, if the Company and such Lender shall so agree, the charges reduction benefit for such Balances Surplus (as determined by such Lender), may be carried forward and applied to succeeding Balance Calculation Periods (but not to any Balance Calculation Period occurring in any subsequent calendar year); ; (ii) with respect to Reference Prime Rate Advances, the Reference Prime Rate plus the Applicable Margin, as adjusted automatically on and as of the effective date of any change in the Reference Prime Rate; (iii) with respect to LIBOR Rate Advance the LIBOR Rate plus the Applicable Margin, as adjusted automatically on and as of the effective date of any change in the LIBOR Rate; and (iv) with respect to any Obligations not paid when due (A) consisting of Balance Funded Rate Advances, a rate per annum equal to the Balance Funded Rate plus 4.0% per annum,(B) consisting of LIBOR Rate Advances, a rate per annum equal to the LIBOR Rate plus 4.0% per annum, (C) consisting of Prime Rate Advances, a rate per annum equal to the Prime Rate plus 4.0% per annum, and (D) consisting of other Obligations, a rate per annum equal to the Prime Rate plus the Applicable Margin plus 4.0% for the period from the date such Obligations were due until the same are paid.

Interest Rates; Balances Deficiency Fees. The Company will ---------------------------------------- pay each Lender monthly in arrears on the third Business Day of each month Bank interest on the unpaid principal balance of each Advance of such Lender consisting of Warehousing Loans or Swingline Loans from time to time outstanding as follows: (i) with With respect to Fixed Rate AdvancesBorrowings, at the per annum rate of 1.252.50% (the "Fixed Rate"); provided, however, that if to induce the Bank to offer the Fixed Rate, the Company agrees to maintain on deposit with the Bank for each Interest Period for which the Fixed Rate is in effect Average Daily Qualifying Balances in an amount (for any Balance Calculation Period such Interest Period, the average daily Reserve-Adjusted "Required Balances maintained by the Company with any Lender are less than an amount Amount") equal to the average daily aggregate unpaid principal balance Average Daily Note Balance for such Interest Period divided by the Average Daily Reserve Factor for such Interest Period. The Bank will determine for each Interest Period the amount of Average Daily Qualifying Balances on deposit with the Fixed Rate Advances owed Bank for such Interest Period and the amount, if any, by which said Average Daily Qualifying Balances exceeds (any such excess being referred to such Lender during such Balance Calculation Period as a " Balances Surplus") or is less than (any such deficiency being herein referred to as the a "Balances Deficiency"), ) the Company will pay Required Balances Amount for such Lender a fee (the "Interest Period. Any Balances Surplus or Balances Deficiency Fee") for said Balance Calculation Period on the Balances Deficiency at a per annum rate equal to 1.25% below the average daily Reference Rate in effect during said Balance Calculation Period; and provided further, that if the weighted average Reserve- Adjusted Balances maintained by the Company with any Lender for any Balance Calculation Interest Period exceeds the weighted average daily aggregate unpaid principal balance of the Fixed Rate Advances owed to such Lender during such Balance Calculation Period (such excess being defined herein as the "Balances Surplus"), then such Balances Surplus, or, if the Company and such Lender shall so agree, the charges reduction benefit for such Balances Surplus (as determined by such Lender), may will be carried forward and applied to succeeding Balance Calculation increase or reduce, as the case may be, Balances Surpluses or Balances Deficiencies determined for subsequent Interest Periods (but not to any Balance Calculation Period occurring beginning in any subsequent the same calendar year); (ii) with respect to Reference Rate Advances. If, the Reference Rate plus the Applicable Margin, as adjusted automatically on and as of the effective date last day of any change the last Interest Period beginning in a calendar year, a net Balances Surplus exists, such net Balances Surplus shall be disregarded and shall not be carried forward to succeeding Interest Periods. If, however, a net Balances Deficiency exists as of the Reference Ratelast day of said last Interest Period, the Company shall pay to the Bank upon demand a fee ("Deficiency Fee") in accordance with the following formula: DF = BD x ADRR) x 31/360 where: "DF" is the Deficiency Fee;

Interest Rates; Balances Deficiency Fees. The Company will ---------------------------------------- pay each Lender monthly in arrears on the third Business Day of each month interest on the unpaid principal balance of each Advance of such Lender consisting of Warehousing Loans or Swingline Loans from time to time outstanding as follows: (i) with respect to Fixed Rate Advances, at the per annum rate of 1.25% (the "Fixed Rate"); provided, that if for any Balance Calculation Period the average daily Reserve-Adjusted Balances maintained by the Company with any Lender are less than an amount equal to the average daily aggregate unpaid principal balance of the Fixed Rate Advances owed to such Lender during such Balance Calculation Period (such deficiency being herein referred to as the "Balances Deficiency"), the Company will pay such Lender a fee (the "Balances Deficiency Fee") for said Balance Calculation Period on the Balances Deficiency at a per annum rate equal to 1.25% below the average daily Reference Rate in effect during said Balance Calculation Period; and provided further, that if the weighted average Reserve- Reserve-Adjusted Balances maintained by the Company with any Lender for any Balance Calculation Period exceeds the weighted average daily aggregate unpaid principal balance of the Fixed Rate Advances owed to such Lender during such Balance Calculation Period (such excess being defined herein as the "Balances Surplus"), then such Balances Surplus, or, if the Company and such Lender shall so agree, the charges reduction benefit for such Balances Surplus (as determined by such Lender), may be carried forward and applied to succeeding Balance Calculation Periods (but not to any Balance Calculation Period occurring in any subsequent calendar year); (ii) with respect to Reference Rate Advances, the Reference Rate plus the Applicable Margin, as adjusted automatically on and as of the effective date of any change in the Reference Rate;

Interest Rates; Balances Deficiency Fees. The Company will ---------------------------------------- pay each Lender monthly in arrears on the third Business Day of each month interest on the unpaid principal balance of each Advance of such Lender consisting of Warehousing Loans or Swingline Loans from time to time outstanding as follows: (i) with respect to Fixed Balance Funded Rate Advances, at the per annum rate of 1.25% (the "Fixed Rate"); provided, that if for any Balance Calculation Period the average daily Reserve-Adjusted Balances maintained by the Company with any Lender are less than an amount equal to the average daily aggregate unpaid principal balance of the Fixed Balance Funded Rate Advances owed to such Lender during such Balance Calculation Period (such deficiency being herein referred to as the "Balances Deficiency"), the Company will pay such Lender a fee (the "Balances Deficiency Fee") for said Balance Calculation Period on the Balances Deficiency at a per annum rate equal to 1.25% below the average daily Reference Rate in effect during said Balance Calculation Period; and provided further, that if the weighted average Reserve- Adjusted Balances maintained by the Company with any Lender for any Balance Calculation Period exceeds the weighted average daily aggregate unpaid principal balance of the Fixed Balance Funded Rate Advances owed to such Lender during such Balance Calculation Period (such excess being defined herein as the "Balances Surplus"), then such Balances Surplus, or, if the Company and such Lender shall so agree, the charges reduction benefit for such Balances Surplus (as determined by such Lender), may be carried forward and applied to succeeding Balance Calculation Periods (but not to any Balance Calculation Period occurring in any subsequent calendar year); ; (ii) with respect to Reference Rate Advances, the Reference Rate plus the Applicable Margin, as adjusted automatically on and as of the effective date of any change in the Reference Rate; (iii) with respect to Eurodollar Advances, the Adjusted Eurodollar Rate plus the Applicable Margin, as adjusted automatically on and as of the effective date of any change in the Adjusted Eurodollar Rate; and (iv) with respect to any Obligations not paid when due (i) consisting of Balance Funded Rate Advances, a rate per annum equal to the Fixed Rate plus 2.0%, and (ii) consisting of other Obligations, a rate per annum equal to the Reference Rate plus the Applicable Margin plus 2.0% for the period from the date such Obligations were due until the same are pai d.

Interest Rates; Balances Deficiency Fees. The Company Borrower will ---------------------------------------- pay each Lender monthly in arrears on the third Business Day of each month interest on the unpaid principal balance of each Advance of such Lender consisting of Warehousing Loans or Swingline Loans from time to time outstanding as follows: (i) with respect to Fixed Rate AdvancesBorrowings and Designated Fixed Rate Borrowings, at the per annum rate of 1.25% (A) with respect to Fixed Rate Borrowings and Designated Fixed Rate Borrowings consisting of any portion of the "outstanding principal balance of a Servicing Note, 2.25%; (B) with respect to Fixed Rate")Rate Borrowings and Designated Fixed Rate Borrowings consisting of any portion of the outstanding principal balance of a Warehousing Note, 1%; and (C) with respect to Fixed Rate Borrowings and Designated Fixed Rate Borrowings consisting of any portion of the outstanding principal balance of a Working Capital Note, 1.625%; provided, that if for any Balance Calculation Period the weighted average daily Reserve-Adjusted Balances maintained by the Company Borrower with any Lender are less than an amount equal to the weighted average daily aggregate unpaid principal balance of the Fixed Rate Advances Borrowings (other than Designated Fixed Rate Borrowings) owed to such Lender during such Balance Calculation Period (such deficiency being herein referred to as the "Balances Deficiency"), the Company Borrower will pay such each Lender a fee (the "Balances Deficiency Fee") for said Balance Calculation Period on the Balances Deficiency at a per annum rate equal to 1.25% below the average daily Reference Floating Reserve-Adjusted Eurodollar Rate in effect during said Balance Calculation Period; and provided provided, further, that if the amount by which the weighted average Reserve- Reserve-Adjusted Balances maintained by the Company Borrower with any such Lender for any Balance Calculation Period exceeds the weighted average daily aggregate unpaid principal balance of the Fixed Rate Advances Borrowings (other than Designated Fixed Rate Borrowings) owed to such Lender during such Balance Calculation Period (such excess being defined herein as the "Balances Surplus"), then such Balances Surplus, or, if the Company Borrower and such the Lender shall so agree, the charges reduction benefit earnings credit for such Balances Surplus (as determined by such Lender), may be carried forward and applied to succeeding Balance Calculation Periods (but not to any Balance Calculation Period occurring in any subsequent calendar year, unless the Borrower and such Lender shall otherwise agree in writing); and provided, further, that if the Borrower and any Lender so agree in writing, the Borrower may obtain a lower fixed rate from such Lender for Fixed Rate Borrowings (other than Designated Fixed Rate Borrowings) by maintaining additional Reserve-Adjusted Balances with such Lender; (ii) with respect to Reference Alternate Base Rate AdvancesBorrowings, the Reference Alternate Base Rate plus the Applicable Margin, as adjusted automatically on and as of the effective date of any change in the Reference Alternate Base Rate;; and (iii) with respect to Floating Eurodollar Rate Borrowings the Floating Adjusted Eurodollar Rate plus the Applicable Margin, as adjusted automatically on and as of the effective date of any change in the Floating Reserve-Adjusted Eurodollar Rate.