Common use of Minimum Deposit Clause in Contracts

Minimum Deposit. The Borrower shall maintain with Bank average collected demand deposit balances equal to $50,000.00 (the "Minimum Deposit"). Furthermore, if the Borrower does not maintain the Minimum Deposit, Borrower shall pay to Bank, on a quarterly basis, a deficiency fee equal to the Contract Rate plus three percent (3.0%) multiplied by the difference between (i) Borrower's actual average collected balances maintained with the Bank during such period and (ii) the Minimum Deposit. The Borrower shall maintain its main operating account and all other business accounts with the Bank.

Minimum Deposit. The Borrower shall maintain with Bank average collected demand deposit balances equal to $50,000.00 250,000.00 (the "Minimum Deposit"). Furthermore, if the Borrower does not maintain the Minimum Deposit, Borrower shall pay to Bank, on a quarterly basis, a deficiency fee equal to the Contract Rate plus three percent (3.0%) multiplied by the difference between (i) Borrower's actual average collected balances maintained with the Bank during such period and (ii) the Minimum Deposit. The Borrower shall maintain its main operating account and all other business accounts with the Bank unless otherwise expressly authorized by the Bank.