Common use of Collateral Handling Fee Clause in Contracts

Collateral Handling Fee. So long as Borrower is in compliance with this Agreement and maintains an Adjusted Quick Ratio, tested monthly, greater than or equal to 1.35:1.00, there shall be no Collateral Handling Fee assessed. When Borrower maintains an Adjusted Quick Ratio, tested monthly, less than 1.35:1.00, Borrower will pay to Bank a collateral handling fee equal to 0.25% per month of the Financed Receivable Balance for each Financed Receivable outstanding based upon a 360 day year (the “Collateral Handling Fee”). This fee is charged on a daily basis and is equal to the Collateral Handling Fee divided by 30, multiplied by the number of days each such Financed Receivable is outstanding, multiplied by the outstanding Financed Receivable Balance. The Collateral Handling Fee is payable on the date when the Advance made based on such Financed Receivable is payable in accordance with Section 2.2.2 hereof. In computing Collateral Handling Fees under this Agreement, all Collections received by Bank shall be deemed applied by Bank on account of Obligations three (3) Business Days after receipt of the Collections. After an Event of Default, the Collateral Handling Fee will increase by an additional 0.50% effective immediately upon such Event of Default.

Collateral Handling Fee. So long as Borrower At all times that Borrower’s Net Cash is in compliance with this Agreement and maintains an Adjusted Quick Ratio, tested monthly, equal to or greater than or equal to 1.35:1.00Zero Dollars ($0.00), there Borrower shall be no not pay any Collateral Handling Fee assessed(as hereinafter defined). When Borrower maintains an Adjusted Quick Ratio, tested monthly, less than 1.35:1.00At all other times, Borrower will shall pay to Bank a collateral handling fee Collateral Handling Fee equal to 0.25% two-tenths of one percent (0.20%) per month Reconciliation Period of the Financed Receivable Balance for each Financed Receivable outstanding based upon a 360 three hundred sixty (360) day year (the “Collateral Handling Fee”). This fee The Collateral Handling Fee is charged on a daily basis and is equal to the Collateral Handling Fee divided by thirty (30), multiplied by the number of days each such Financed Receivable is outstanding, multiplied by the outstanding Financed Receivable Balance. The Collateral Handling Fee is payable on the date when the Advance made based on such Financed Receivable is payable repaid in accordance with Section 2.2.2 hereof2.12 of this Agreement. In computing Collateral Handling Fees under this Agreement, all Collections received by Bank shall be deemed applied by Bank on account of Obligations three (3) Business Days after upon receipt of the Collections. After Immediately upon the occurrence of an Event of Default, the Collateral Handling Fee will increase by an additional 0.50% effective immediately upon such Event of Default%.

Collateral Handling Fee. So long as Borrower At all times that Borrower’s Net Cash is in compliance with this Agreement and maintains an Adjusted Quick Ratio, tested monthly, equal to or greater than or equal to 1.35:1.00Zero Dollars ($0.00), there Borrower shall be no not pay any Collateral Handling Fee assessed(as hereinafter defined). When Borrower maintains an Adjusted Quick Ratio, tested monthly, less than 1.35:1.00At all other times, Borrower will shall pay to Bank a collateral handling fee Collateral Handling Fee equal to 0.25% two-tenths of one percent (0.20%) per month Reconciliation Period of the Financed Receivable Balance for each Financed Receivable outstanding based upon a 360 three hundred sixty (360) day year (the “Collateral Handling Fee”). This fee The Collateral Handling Fee is charged on a daily basis and is equal to the Collateral Handling Fee divided by thirty (30), multiplied by the number of days each such Financed Receivable is outstanding, multiplied by the outstanding Financed Receivable Balance. The Collateral Handling Fee is payable on the date when the Advance made based on such Financed Receivable is payable repaid in accordance with Section 2.2.2 hereof2.3 of this Exim Agreement. In computing Collateral Handling Fees under this Exim Agreement, all Collections received by Bank shall be deemed applied by Bank on account of Obligations three (3) Business Days after upon receipt of the Collections. After Immediately upon the occurrence of an Event of Default, the Collateral Handling Fee will increase by an additional 0.50% effective immediately upon such Event of Default%.