Administrative Management Fee means that certain servicing fee agreed to be paid by Borrowers in favor of the Agent pursuant to the Fee Letter for the purpose of compensating Agent for its day-to-day in-house administrative responsibilities in connection with the Advances and the Collateral.
Administrative Management Fee means the sum of $25,000.00 which shall be paid to CIT in accordance with Section 8, paragraph 8.5 hereof to offset the expenses and costs (excluding Out-of-Pocket Expenses and auditor fees) of CIT in connection with administration, record keeping, analyzing and evaluating the Collateral.
Administrative Management Fee means the sum of $25,000 per annum which shall be paid to the Agent for its own account in accordance with Section 8, Paragraph 8 hereof to offset the expenses and costs (excluding Out-of-Pocket Expenses) of the Agent in connection with record keeping, periodic examinations, analyzing and evaluating the Collateral.
Examples of Administrative Management Fee in a sentence
An Administrative Management Fee of $50,000 per year shall be payable by the SPV to CIT on the date of closing and annually thereafter.
On the Closing Date and on the first day of the month following the month in which each annual anniversary of the Closing Date occurs, the Company agrees to pay to CIT the Administrative Management Fee, which shall be fully earned when paid.
Borrower shall pay to CIT a Administrative Management Fee in the amount of $15,000 which shall be deemed fully earned as of the Closing Date and on each Anniversary Date thereafter.
The Borrower shall pay the Agent's standard charges and fees for any personnel engaged or employed by the Agent for reviewing the books and records of the Borrower and for verifying, testing, protecting, safeguarding, preserving or disposing of all or any part of the Collateral (which fees shall be in addition to the Administrative Management Fee and any Out-of-Pocket Expenses).
Administrative Management Fee shall mean the sum of $25,000.00 which shall be paid to CIT in accordance with Section 6, paragraph 6.5 hereof to offset the expenses and costs (excluding Out-of-Pocket Expenses and auditor fees) of CIT in connection with administration, record keeping, analyzing and evaluating the Collateral.
More Definitions of Administrative Management Fee
Administrative Management Fee means the administration fee which shall be paid to the Agent in accordance with the Agency Arrangement Letter.
Administrative Management Fee means the fee specified in Section 8, Paragraph 8.8 hereof to offset the expenses and costs (excluding Out-of-Pocket Expenses and auditor fees) of CIT in connection with administration, record keeping, analyzing and evaluating the Collateral.
Administrative Management Fee means the sum of Thirty-Five Thousand Dollars ($35,000.00) per annum which shall be paid to CIT in accordance with Section 8.8 hereof to offset the expenses and costs (excluding Out-of-Pocket Expenses and auditor fees) of CIT in connection with administration, record keeping, analyzing and evaluating the Collateral. Anniversary Date shall mean the date occurring three (3) years from the Closing Date and the same date in every year thereafter. Availability shall mean at any time the amount by which: (a) the Borrowing Base exceeds (b) the outstanding aggregate amount of all Obligations, including without limitation but without duplication, all Obligations with respect to Revolving Loans and Availability Reserves, including Availability Reserves in respect of Letters of Credit. Availability Reserve shall mean any reserve which CIT may reasonably require from time to time pursuant to this Financing Agreement, including without limitation, (a) for Letters of Credit pursuant to Section 5.1 hereof; (b) a reserve in the amount of $1,000,000 (the “Special Reserve”) if (x) the sum of Liquid Assets and Availability is less than $10,000,000 but greater than $5,000,000 and (y) the Blocked Account has not been activated by CIT as set forth in Section 3.4; and (c) such other reserves as CIT deems necessary in its reasonable judgment as a result of (x) negative forecasts and/or trends in the Company’s business, prospects, profits, operations or financial condition or (y) other issues, circumstances or facts that could reasonably be expected to otherwise negatively impact the Company, its business, prospects, profits, operations, financial condition or assets; provided that no Availability Reserve shall be imposed with respect to a reserve or reduction already applied against Availability pursuant to the definitions of Eligible Accounts Receivable or Dilution referred to herein. Borrowing Base shall mean (a) the lesser of (i) eighty-five percent (85%) of the Company’s aggregate outstanding Eligible Accounts Receivable, provided that such advance rate shall be reduced by one (1) percentage point for each whole or partial percentage point by which Dilution (for the immediately preceding three (3) month period) exceeds ten percent (10%) and (ii) fifty percent (50%) of the aggregate cash collections by the Company of its Trade Accounts Receivable over the immediately preceding three (3) full calendar months.
Administrative Management Fee means an amount equal to $10,000 per annum, payable in accordance with Section 8.7 of this Financing Agreement. Applicable Margin shall mean, with respect to (a) the Revolving Loans, 0.25% for Chase Bank Rate Loans and 2.50% for LIBOR Loans, and (b) Letters of Credit, 2.50%. Availability Reserve shall mean an amount equal to the sum (without duplication) of:
Administrative Management Fee means the sum of $24,000.00 which shall be paid to CIT in accordance with Section 8, paragraph 8.8 hereof to offset the expenses and costs (excluding Out-of-Pocket Expenses and auditor fees) of CIT in connection with administration, record keeping, analyzing and evaluating the Collateral.
Administrative Management Fee means an amount equal to $1,000 per month, payable in accordance with Section 8.7 of this Financing Agreement. Applicable Margin shall mean, from the Closing Date until the initial Adjustment Date, with respect to the Revolving Loans, 0.25% for Chase Bank Rate Loans and 2.50% for LIBOR Loans and for Letters of Credit, 3.00%. On the initial Adjustment Date, and on each subsequent Adjustment Date thereafter, the Applicable Margins for Chase Bank Rate Loans and LIBOR Loans shall be adjusted prospectively based on the Fixed Charge Coverage Ratio of the Company for the most recently completed four fiscal quarter period, in the following amounts: Financial Agreement — Pizza Inn Fixed Charge Coverage Ratio Chase Bank Rate Loans LIBOR Loans Less than 2.5 to 1.00 0.50 % 3.00 % Greater than or equal to 2.50 to 1.00 but less than 3.00 to 1.00 0.25 % 2.50 % Greater than or equal to 3.00 to 1.00 0.00 % 2.00 % All adjustments to the Applicable Margins shall be implemented by CIT based on the financial statements and related officer’s certificate for the relevant period delivered by the Company to CIT pursuant to Section 7.2(h)(ii) hereof, and shall take effect retroactively on the Adjustment Date immediately preceding the date of CIT’s receipt of such financial statements. Notwithstanding the foregoing: (a) no reduction in Applicable Margins shall occur on an Adjustment Date if a Default or an Event of Default shall have occurred and remain outstanding on such Adjustment Date or the date of CIT’s receipt of the financial statements on which such reduction is to be based; and (b) if the Company fails to deliver the financial statements on which any reduction in applicable margins is to be based within ten (10) days of the due date for such items set forth in Section 7.2(h)(ii), then effective as of the Adjustment Date immediately preceding the due date for such financial statements, the Applicable Margins shall increase to the highest margins set forth in the table above until the following Adjustment Date. Availability Reserve shall mean an amount equal to the sum of:
Administrative Management Fee has the meaning ascribed thereto in the Fee Letter.