Common use of Minimum Deposits Clause in Contracts

Minimum Deposits. To maintain average deposit balances of the Borrowers and their Affiliates held at the Lender of not less than Thirty Million Dollars ($30,000,000) in the aggregate (the “Deposit Level Target”), provided that the sole remedy of the Lender for the Borrowers’ failure to satisfy the Minimum Deposit Target shall be an increase in the Applicable Interest Rate Spread (as defined in the Credit Note) and the Applicable Nonusage Rate as provided herein.”

Appears in 2 contracts

Samples: Mortgage Warehouse Loan and Security Agreement, Mortgage Warehouse Loan and Security Agreement (Centerline Holding Co)

AutoNDA by SimpleDocs

Minimum Deposits. To maintain average deposit balances of the Borrowers and their Affiliates held at the Lender of not less than Thirty Million Dollars ($30,000,000) in the aggregate (the “Deposit Level Target”), provided that the sole remedy of the Lender for the Borrowers’ failure to satisfy the Minimum Deposit Target shall be an increase in the Applicable Interest Rate Spread (as defined in the Credit Note) and the Applicable Nonusage Rate as provided herein.

Appears in 1 contract

Samples: Mortgage Warehouse Loan and Security Agreement (Centerline Holding Co)

AutoNDA by SimpleDocs

Minimum Deposits. To maintain average deposit balances of the Borrowers and their Affiliates held at the Lender of not less than Thirty Fifteen Million Dollars ($30,000,00015,000,000) in the aggregate (the “Deposit Level Target”), provided that the sole remedy of the Lender for the Borrowers’ failure to satisfy the Minimum Deposit Target shall be an increase in the Applicable Interest Rate Spread (as defined in the Credit Note) and the Applicable Nonusage Rate as provided herein.”

Appears in 1 contract

Samples: Mortgage Warehouse Loan and Security Agreement (Centerline Holding Co)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!