Minimum Payment Requirement Clause Samples
The Minimum Payment Requirement clause establishes the lowest amount that must be paid by a party, typically on a recurring basis, regardless of usage or other variables. In practice, this means that even if the actual amount owed based on activity or consumption is less than the specified minimum, the obligated party must still pay at least the minimum amount. This clause ensures a predictable revenue stream for the receiving party and protects against underpayment, thereby reducing financial uncertainty.
Minimum Payment Requirement. 2% of the outstanding balance, subject to a minimum of $10.00.
Minimum Payment Requirement. Each calendar month, the Borrower is required to pay to DJS, DSI and PTA, in the aggregate, a minimum payment of $1,083,000 in the aggregate on account of the Term Note Obligations and/or the Post-Closing Cash Obligations, as the case may be.
Minimum Payment Requirement. You may pay the entire balance owed at any time, without penalty, or you may pay some lesser amount. At a minimum, however, you must pay the Minimum Payment Due as is reflected on your billing statement, and we must receive that payment on or before the Payment Due Date shown on each billing statement. The Payment Due Date will be the same day of each calendar month (although if the Payment Due Date is not a Business Day, we will treat any payment received by us by 5:00 p.m. Eastern Time on the next Business Day as having been made on the Payment Due Date). See “Receipt and Credit of Payments,” below. If your Minimum Payment Due is not received by your Payment Due Date, you will be charged a Late Payment Fee (see “Fees” in Section 16, below). If the “New Balance” shown on your monthly billing statement is less than $25.00, your Minimum Payment Due will be the New Balance. If the New Balance is $25.00 or more, your Minimum Payment Due will be equal to any amount that is past due on your Credit Account plus the greater of (i) $25.00 or
Minimum Payment Requirement. 6.1 During the first year of this Agreement, the Minimum Payment shall be $200,000.00.
6.2 At the expiration of each year of this Agreement, the Minimum Payment for the next following year of this Agreement shall be determined in accordance with the following formula: N = A x B ----- C where N is the Minimum Payment for the next following year of this Agreement. A is the Minimum Payment for the first year of this Agreement. B is the CPI index figure last published prior to the commencement of the next following year of this Agreement. C CPI index figure last published prior to the commencement of this Agreement.
6.3 If at the end of any year the Distributor has failed to achieve the Minimum Payment, the Distributor shall pay System Builder Software the Minimum Payment less the total amount of Initial License Fees paid by the Distributor to System Builder Software during the year pursuant to clause 7.
6.4 Within 30 days after the expiration of such calendar year System Builder Software shall by notice in writing to the Distributor confirm details of any amount payable by the Distributor under clause 6.3 and the Distributor shall pay such amount to System Builder Software within 14 days of receipt of the notice.
6.5 From time to time, System Builder Software and the Distributor shall review the method of determining the Minimum Payment requirement and may vary same by mutual agreement.
Minimum Payment Requirement. Business agrees to pay to Lender the Minimum Payment every 90 days beginning at the end of the Cancellation Period and ending when the Total Payment Amount has been delivered to Lender. The Minimum Payment is due in each 90-day period that the Account is open, irrespective of the amount paid in any previous 90-day period. The Minimum Payment is 5% of the Total Payment Amount for loans expected to be repaid in 12 months or more and 10% of the Total Payment Amount for loans expected to be repaid in less than 12 months (based on Your PayPal account history).
Minimum Payment Requirement. Your minimum payment is 2% of your outstanding balance that does not exceed your credit limit, plus any amount exceeding your credit limit, or $20.00 whichever is greater.