Common use of Unused Line Payment Clause in Contracts

Unused Line Payment. If, for any month, the average outstanding Revolving Credit Advances (the "Average Revolving Amount") are less than the Capital Availability Amount, the Company shall pay to Laurus at the end of such month a payment (calculated on a per annum basis) in an amount equal to one half percent (0.50%) per annum of the amount by which the Capital Availability Amount exceeds the Average Revolving Amount. Notwithstanding the foregoing, any unpaid fees shall be immediately due and payable upon termination of this Agreement.

Appears in 3 contracts

Samples: Security Agreement (Digital Angel Corp), Security Agreement (Digital Angel Corp), Security Agreement (Digital Angel Corp)

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Unused Line Payment. If, for any month, the average outstanding Revolving Credit Advances (the "Average Revolving Amount") are less than do not equal the Capital Availability Amount, the Company shall pay to Laurus at the end of such month a payment (calculated on a per annum basis) in an amount equal to one half percent (0.50%) per annum 0.20% of the amount by which the Capital Availability Amount exceeds the Average Revolving Amount. Notwithstanding the foregoing, any unpaid fees shall be immediately due and payable upon termination of this Agreement.

Appears in 1 contract

Samples: Security Agreement (Spacedev Inc)

Unused Line Payment. If, for any month, the average outstanding Revolving Credit Advances (the "Average Revolving Amount") are less than do not equal the Capital Availability Amount, the Company Companies shall pay to Laurus at the end of such month a payment (calculated on a per annum basis) in an amount equal to one half percent (0.50%) per annum 0.40% of the amount by which the Capital Availability Amount exceeds the Average Revolving Amount. Notwithstanding the foregoing, any unpaid fees shall be immediately due and payable upon termination of this Agreement.

Appears in 1 contract

Samples: Purchase and Security Agreement (Jmar Technologies Inc)

Unused Line Payment. If, for any month, the average outstanding Revolving Credit Advances (the "Average Revolving Amount") are less than the Capital Availability Amount, the Company shall pay to Laurus at the end of such month a payment (calculated on a per annum basis) in an amount equal to one half percent (0.50%) per annum of the amount by which the Capital Availability Amount exceeds the Average Revolving Amount. Notwithstanding the foregoing, any unpaid fees shall be immediately due and payable upon termination of this Agreement.

Appears in 1 contract

Samples: Security Agreement (Digital Angel Corp)

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Unused Line Payment. If, for any month, the average outstanding Revolving Credit Advances (the "Average Revolving Amount") are less than the Capital Availability Amount, the Company shall pay to Laurus at the end of such month a payment (calculated on a per annum basis) in an amount equal to one half percent (0.50%) per annum 0.40% of the amount by which the Capital Availability Amount exceeds the Average Revolving Amount. Notwithstanding the foregoing, any unpaid fees fee shall be immediately due and payable upon termination of this Agreement.

Appears in 1 contract

Samples: Security Agreement (Artemis International Solutions Corp)

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