Reserve Fee definition

Reserve Fee means the non-refundable fee of four percent (4%) of each Loan, or such other amount, if any, as the Authority shall determine in connection with each Series of Bonds used to finance Education Loans, paid by the Borrower to the Authority out of the proceeds of each such Loan at the time of disbursement thereof.
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Examples of Reserve Fee in a sentence

  • Customer agrees to pay to Terminal (i) the Base Storage Fee and the Tank Cleaning Reserve Fee, payable in advance each month, (ii) Ancillary and Additive Services Fees incurred during the previous month, payable each month, and (iii) Excess Storage Fees incurred in a given calendar year payable in January of each year.

  • Then the affordability of this monthly amount, plus the amount of the Repair Reserve Fee, for the Homeowner has been analyzed and, if necessary, the Land Use has been reduced to an amount considered to be affordable for Homeowner.

  • For clarification hereunder, the Tank Cleaning Reserve Fee shall be paid by Customer to Terminal and is in lieu of Terminal separately charging Customer to clean the storage tanks upon required inspections or at the end of the Initial Term or Renewal Term, whichever is applicable.

  • The Reserve Fee will not be reduced if the End User does not use any or all the Reserve Capacity for any billing period.

  • A $5 Advance from Automatic Cash Reserve Fee is charged to the line of credit for each transfer, limited to one automatic transfer per day.

  • The Homeowner shall pay a monthly Lease Fee in the amount of thirty dollars ($30.00) to be paid in return for the continuing right to possess, occupy and use the Leased Land, plus (b) a Repair Reserve Fee of $10 to be held by the CLT and used for the purpose of preserving the physical quality of the Home for the long term in accordance with Section 7.6 below.

  • Dealer shall refund to the Credit Union the Dealer Reserve Fee if, within 90 days of the execution of a Contract: (1) the Contract is paid in full, or 2) the vehicle is repossessed due to nonpayment of the Contract.

  • Either party may elect to discontinue the establishment of Credit Exception Accounts upon thirty (30) days written notice to the other party, provided however that any such discontinuance shall not affect: (i) the coverage of existing Credit Exception Accounts by the Reserve Fee Account; nor (ii) Bank’s right to require the establishment of a reserve against such Accounts pursuant to Section 4.2 of this Agreement.

  • The Reserve Fee and On- Demand Fee, if any, may be different on a per unit basis.

  • In the event the last surviving Member dies or involuntarily vacates the Unit, beginning on the first day of the next calendar month, the level of service under this Agreement shall be reduced to the Service Center Base Fee and Capital Reserve Fee only.

Related to Reserve Fee

  • Reserve Interest Rate With respect to any Interest Determination Date, the rate per annum that the Trustee determines to be either (i) the arithmetic mean (rounded upwards if necessary to the nearest whole multiple of 1/16%) of the one-month U.S. dollar lending rates which New York City banks selected by the Trustee are quoting on the relevant Interest Determination Date to the principal London offices of leading banks in the London interbank market or (ii) in the event that the Trustee can determine no such arithmetic mean, the lowest one-month U.S. dollar lending rate which New York City banks selected by the Trustee are quoting on such Interest Determination Date to leading European banks.

  • Reserve Draw Amount shall have the meaning specified in subsection 4.12(c).

  • Reserve Fund means the account designated as such, and established and maintained pursuant to Section 4.01.

  • Reserve Funds means the Tax and Insurance Escrow Fund, the Replacement Reserve Fund, the Required Repair Fund (if any), or any other escrow fund established by the Loan Documents.

  • Replacement Reserve Monthly Deposit shall have the meaning set forth in Section 7.3.1 hereof.