Finance Fees definition

Finance Fees shall have the meaning set forth in Section 2.1.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Finance Fees the product of the Finance Rate (if applicable, as provided in Schedule A) multiplied by Balance Subject to Finance Fees,

Finance Fees means fees that the Corporation is to pay to Target pursuant to the Target Agreement equal to the greater of $2,500 or 1/2 of 1% on funds raised between $500,000 and $5,000,000 from Deferred Plans pursuant to this Offering and 1/4 of 1% on funds raised from Deferred Plans pursuant to this Offering that are in excess of $5,000,000;

Examples of Finance Fees in a sentence

• Such accrued Finance Fees shall be netted against the Reserve as described in Section 3.3.

• Notwithstanding the foregoing, if any Customer Payment is subsequently dishonored or Purchaser does not receive good funds for any reason, the amount of such uncollected Customer Payment shall be included in the Obligations as if such Customer Payment had not been received, and Finance Fees shall accrue thereon, and the credit to the Obligations shall be reversed.

• Notwithstanding the foregoing, if any Customer Payment is subsequently dishonored or Purchaser does not receive good funds for any reason, the amount of such uncollected Customer Payment shall be included in the Account Balance as if such Customer Payment had not been received, and Finance Fees shall accrue thereon, and the credit to the specific Purchased Account shall be reversed.

• All computations of Finance Fees shall be calculated on the basis of a three hundred and sixty (360) day year.

• The employee’s Department Director shall be responsible (consistent with City-wide standards) for determining when the employee meets the criteria for advancement to a higher level within the multi-level classification.

• To allow for application of payments and for purposes of computing Finance Fees, all payments shall be applied to the Obligations on that number of business days identified on Schedule 1 after payments are received by Purchaser (the "Customer Payments").

• If any amount owed by Seller hereunder is not paid when is due, including any amounts due under Section 3.3, Chargeback Amounts, professional fees and expenses under Section 10 and any other Obligations, such amounts shall bear interest at a per annum rate equal to the rate used to calculate the Finance Fees, annualized, until Payment in good funds in the full of all such obligations.

• Purchaser shall deliver to Seller after each Settlement Date, a statement of Seller's account which shall include an accounting of the transactions for that Settlement Period, including the amount of all Finance Fees, Administrative Fees, Adjustments, Chargeback Amounts, Customer Payments and Purchased Accounts.

• Purchaser shall deliver to Seller after each Settlement Date, a statement of Seller's account which shall include an accounting of the transactions of the Settlement Period, including the amount of all Finance Fees, Administrative Fees, Adjustments, Chargeback Amounts, Customer Payments and Purchased Accounts.

• Buyer shall prepare and send to Seller after the close of business for each calendar month, an accounting of the transactions for that calendar month, including the amount of all Purchased Receivables, all Collections, Adjustments, Factoring Fees, and Finance Fees.

More Definitions of Finance Fees

Finance Fees. Prime Rate plus six percent (6.0%) per annum All

Finance Fees shall have the meaning set forth in Section 2.1. "Maximum Commitment" shall have the meaning set forth in Section 1.2.

Finance Fees is defined in Section 3.7(f).