Minimum Monthly Interest definition

Minimum Monthly Interest has the meaning set forth in Section 3 of the Schedule.

Minimum Monthly Interest is defined in Section 2.3(h).”

Minimum Monthly Interest means for any Monthly Period the amount (if any) by which $4,000 exceeds the Finance Charge for that Monthly Period.

Examples of Minimum Monthly Interest in a sentence

• On the Determination Date preceding each Distribution Date, the Servicer shall determine an amount (the “Collateral Interest Shortfall”) equal to (x) the aggregate Collateral Minimum Monthly Interest for such Distribution Date minus (y) the aggregate amount of funds allocated and available to pay such Collateral Minimum Monthly Interest on such Distribution Date.

• Said float charge is not included in interest for purposes of computing Minimum Monthly Interest (if any) under this Agreement.

• Regardless of the amount of Obligations that may be outstanding from time to time, Borrower shall pay Silicon minimum monthly interest during the term of this Agreement in the amount set forth on the Schedule (the "Minimum Monthly Interest").

• Collateral Minimum Monthly Interest shall be calculated on the basis of a 360-day year consisting of twelve 30-day months.

• On the Determination Date preceding each Distribution Date, the Servicer shall determine an amount (the "Collateral Interest Shortfall") equal to (x) the aggregate Collateral Minimum Monthly Interest for such Distribution Date minus (y) the aggregate amount of funds allocated and available to pay such Collateral Minimum Monthly Interest on such Distribution Date.

More Definitions of Minimum Monthly Interest

Minimum Monthly Interest. An amount equal to the Interest Rate described above charged against an outstanding daily loan balance of TWENTY PERCENT (20%) OF THE MAXIMUM DOLLAR AMOUNT during Year 1; an amount equal to the Interest Rate described above charged against an outstanding daily loan balance of THIRTY PERCENT (30%) OF THE MAXIMUM DOLLAR AMOUNT during Year 2; an amount equal to the Interest Rate described above charged against an outstanding daily loan balance of FORTY PERCENT (40%) OF THE MAXIMUM DOLLAR AMOUNT during Year 3 and thereafter.

Minimum Monthly Interest. Shall be based on a minimum monthly average loan outstanding of $1,600,000 through March 31, 1999.

Minimum Monthly Interest. (Section 1.2): An amount not less than the interest that would be payable based upon a daily Loan balance of $1,000,000.00.

Minimum Monthly Interest means at any point of determination an amount equal to the applicable interest rate as set forth in Section 2.3(a) of this Agreement multiplied by the lesser of (i) the maximum available Borrowing Base, or (ii) Ten Million Dollars ($10,000,000).

Minimum Monthly Interest is one twelfth of the product of (a) $1,000,000 multiplied by (b) the sum of (i) the Prime Rate in effect at the time of determination plus (ii) 1.75%.

Minimum Monthly Interest. An amount equal to the interest that would have accrued had the daily aggregate outstanding balance of all Loans been equal to fifty percent (50%) of the Maximum Dollar Amount.

Minimum Monthly Interest is an amount equal to the amount interest Bank would have earned (exclusive of any collateral monitoring fees, unused line fees, or any other fees and charges hereunder) in any month if Borrower’s Advances outstanding during such month period averaged Three Million Three Hundred Thirty Three Thousand Three Hundred Thirty Three and 33/100 Dollars ($3,333,333.33).