Common use of MINIMUM BORROWING FEE Clause in Contracts

MINIMUM BORROWING FEE. A minimum borrowing fee equal to the excess, if any, of (i) interest which would have been payable in respect of each period set forth in Section 6(e)(i) of Schedule A if, at all times during such period, the principal balance of the Loans was equal to the Minimum Loan Amount over (ii) the actual interest payable in respect of such period, which fee shall be fully earned as of the last day of such period and payable on the date set forth in Section 6(e)(ii) of Schedule A and on the Maturity Date, commencing with the immediately following period.

Appears in 9 contracts

Samples: Loan and Security Agreement (Urban Juice & Soda Co LTD /Wy/), Loan and Security Agreement (Duramed Pharmaceuticals Inc), Loan and Security Agreement (Athey Products Corp)

AutoNDA by SimpleDocs

MINIMUM BORROWING FEE. A minimum borrowing fee equal to the excess, if any, of (i) interest which would have been payable the amount that the Minimum Loan Amount set forth in Section 4 of Schedule A exceeds the actual average Loan balance in respect of each period set forth in Section 6(e)(i) of Schedule A if, at all times during such period, the principal balance of the Loans was equal to the Minimum Loan Amount over multiplied by (ii) the actual interest payable average annual Interest Rate as set forth in respect Section 3 of such periodSchedule A, which fee shall be fully earned as of the last day of such period and payable on the date set forth in Section 6(e)(ii) of Schedule A and on the Maturity Date, commencing with the immediately following period.

Appears in 1 contract

Samples: Loan and Security Agreement (Clinicor Inc)

AutoNDA by SimpleDocs

MINIMUM BORROWING FEE. A minimum borrowing fee equal to the excess, if any, of (i) interest which would have been payable in respect of each period set forth in Section 6(e)(i6(d)(i) of Schedule A if, at all times during such period, the principal balance of the Loans was equal to the Minimum Loan Amount over (ii) the actual interest payable in respect of 5 6 such period, which fee shall be fully earned as of the last day of such period and payable on the date set forth in Section 6(e)(ii6(d)(ii) of Schedule A and on the Maturity Date, commencing with the immediately following period.

Appears in 1 contract

Samples: Loan and Security Agreement (First Wave Marine Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.