Administrative Management Fee definition

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.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Administrative Management Fee means the sum of $37,500.00 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

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.
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).
On the first day of the month following the Closing Date and on the first day of each month thereafter, the Companies agree 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.
Administrative Management Fee shall mean an amount equal to Two Thousand Eighty-Three and 33/100 Dollars ($2,083.33) per month, payable to the Agent exclusively in accordance with Section 8.7 of this Financing Agreement.

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 set forth in Section 1 of the Agreement is amended and restated to read in its entirety as follows:

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 has the meaning set forth in Schedule 6.2(b).

Administrative Management Fee means an amount equal to $1,500 per month, payable to the Agent exclusively in accordance with Section 8.7 of this Financing Agreement.

Administrative Management Fee means the sum of $100,000 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."