{"component": "clause", "props": {"groups": [{"size": 71, "snippet_links": [{"key": "the-interest", "type": "definition", "offset": [3, 15]}, {"key": "credit-card-account", "type": "clause", "offset": [48, 67]}, {"key": "page-1", "type": "definition", "offset": [144, 150]}, {"key": "in-lieu-of", "type": "clause", "offset": [167, 177]}], "snippet": "If the interest charge for all balances on your Credit Card account is less than $1.00, we will charge you the Minimum Interest Charge shown on page 1. This charge is in lieu of any interest charge.", "samples": [{"hash": "kaP5y0LllEq", "uri": "/contracts/kaP5y0LllEq#minimum-interest-charge", "label": "Credit Card Agreement", "score": 34.4647598267, "published": true}, {"hash": "ekygB41IZdy", "uri": "/contracts/ekygB41IZdy#minimum-interest-charge", "label": "Credit Card Agreement", "score": 34.080165863, "published": true}, {"hash": "atexQ47E8kU", "uri": "/contracts/atexQ47E8kU#minimum-interest-charge", "label": "Credit Card Agreement", "score": 34.080165863, "published": true}], "hash": "c027fb87c1cafa5a5a848ab73943b1de", "id": 1}, {"size": 23, "snippet_links": [{"key": "loan-fees", "type": "definition", "offset": [25, 34]}, {"key": "finance-charges", "type": "definition", "offset": [53, 68]}, {"key": "date-of", "type": "clause", "offset": [96, 103]}, {"key": "the-loan", "type": "clause", "offset": [104, 112]}, {"key": "subject-to", "type": "definition", "offset": [129, 139]}, {"key": "result-of-default", "type": "clause", "offset": [193, 210]}, {"key": "required-by-law", "type": "definition", "offset": [233, 248]}, {"key": "full-prepayment", "type": "clause", "offset": [274, 289]}, {"key": "this-note", "type": "clause", "offset": [293, 302]}, {"key": "obligation-to-pay", "type": "clause", "offset": [412, 429]}, {"key": "without-penalty", "type": "clause", "offset": [476, 491]}, {"key": "a-portion", "type": "definition", "offset": [499, 508]}, {"key": "amount-owed", "type": "definition", "offset": [516, 527]}, {"key": "early-payments", "type": "clause", "offset": [552, 566]}, {"key": "by-lender", "type": "clause", "offset": [594, 603]}, {"key": "in-writing", "type": "clause", "offset": [604, 614]}, {"key": "obligation-to-continue", "type": "clause", "offset": [647, 669]}, {"key": "payments-of-accrued", "type": "clause", "offset": [678, 697]}, {"key": "unpaid-interest", "type": "definition", "offset": [698, 713]}, {"key": "balance-due", "type": "definition", "offset": [754, 765]}], "snippet": "Borrower agrees that all loan fees and other prepaid finance charges are earned fully as of the date of the loan and will not be subject to refund upon early payment (whether voluntary or as a result of default), except as otherwise required by law. In any event, even upon full prepayment of this Note, Borrower understands that Lender is entitled to a minimum interest charge of $250.00. Other than Borrower's obligation to pay any minimum interest charge, Borrower may pay without penalty all or a portion of the amount owed earlier than it is due. Early payments will not, unless agreed to by Lender in writing, relieve Borrower of Borrower's obligation to continue to make payments of accrued unpaid interest. Rather, they will reduce the principal balance due.", "samples": [{"hash": "9awRpL78UCk", "uri": "/contracts/9awRpL78UCk#minimum-interest-charge", "label": "Loan and Security Agreement (Lifeminders Com Inc)", "score": 18.0, "published": true}, {"hash": "9E4fleuPJaR", "uri": "/contracts/9E4fleuPJaR#minimum-interest-charge", "label": "Business Loan Agreement (Erox Corp)", "score": 18.0, "published": true}, {"hash": "8naPcC8QT5L", "uri": "/contracts/8naPcC8QT5L#minimum-interest-charge", "label": "Credit Agreement (Mp3 Com Inc)", "score": 18.0, "published": true}], "hash": "b7885f31ccc7a4ecbc36f921b545226d", "id": 3}, {"size": 32, "snippet_links": [{"key": "total-interest-charges", "type": "definition", "offset": [7, 29]}, {"key": "your-account", "type": "definition", "offset": [33, 45]}, {"key": "billing-cycle", "type": "definition", "offset": [52, 65]}, {"key": "the-interest", "type": "definition", "offset": [106, 118]}], "snippet": "If the total interest charges on your Account for a Billing Cycle are greater than zero but less than $1, the interest charge for that Billing Cycle will be $1.", "samples": [{"hash": "hJvcCxi044m", "uri": "/contracts/hJvcCxi044m#minimum-interest-charge", "label": "Credit Card Agreement", "score": 32.8072814941, "published": true}, {"hash": "dZIBxIGIMyd", "uri": "/contracts/dZIBxIGIMyd#minimum-interest-charge", "label": "Credit Card Agreement", "score": 32.2187004089, "published": true}, {"hash": "59Mo6pVQtbS", "uri": "/contracts/59Mo6pVQtbS#minimum-interest-charge", "label": "Business Credit Card Agreement", "score": 28.7022457123, "published": true}], "hash": "09c147fa0dcad1f8454aa72e88538157", "id": 2}, {"size": 21, "snippet_links": [{"key": "interest-payable", "type": "definition", "offset": [20, 36]}, {"key": "pursuant-to-section", "type": "clause", "offset": [37, 56]}, {"key": "the-borrowers", "type": "clause", "offset": [65, 78]}, {"key": "pay-to", "type": "definition", "offset": [85, 91]}, {"key": "lender-interest", "type": "definition", "offset": [96, 111]}, {"key": "calendar-quarter", "type": "definition", "offset": [141, 157]}, {"key": "during-the-term-of-this-agreement", "type": "clause", "offset": [190, 223]}, {"key": "amount-of-interest", "type": "clause", "offset": [312, 330]}, {"key": "day-of", "type": "clause", "offset": [398, 404]}], "snippet": "Notwithstanding the interest payable pursuant to Section 2.2(a), the Borrowers shall pay to the Lender interest of not less than $50,000 per calendar quarter (the \"Minimum Interest Charge\") during the term of this Agreement, and the Borrowers shall pay any deficiency between the Minimum Interest Charge and the amount of interest otherwise calculated under Sections 2.2(a) and 2.2(d) on the first day of January, April, July and October.", "samples": [{"hash": "jsXP2nGXJzU", "uri": "/contracts/jsXP2nGXJzU#minimum-interest-charge", "label": "Credit and Security Agreement (Nu Kote Holding Inc /De/)", "score": 18.0, "published": true}], "hash": "623254088da3cb59d021d7e71b2e7248", "id": 4}, {"size": 19, "snippet_links": [{"key": "interest-payable", "type": "definition", "offset": [20, 36]}, {"key": "pursuant-to-subsection", "type": "clause", "offset": [37, 59]}, {"key": "the-borrower-shall", "type": "clause", "offset": [65, 83]}, {"key": "pay-to", "type": "definition", "offset": [84, 90]}, {"key": "lender-interest", "type": "definition", "offset": [95, 110]}, {"key": "during-the-term-of-this-agreement", "type": "clause", "offset": [180, 213]}, {"key": "amount-of-interest", "type": "clause", "offset": [301, 319]}, {"key": "day-of", "type": "clause", "offset": [375, 381]}, {"key": "termination-date", "type": "definition", "offset": [406, 422]}], "snippet": "Notwithstanding the interest payable pursuant to subsection (a), the Borrower shall pay to the Lender interest of not less than $12,500 per quarter (the \"Minimum Interest Charge\") during the term of this Agreement, and the Borrower shall pay any deficiency between the Minimum Interest Charge and the amount of interest otherwise calculated under subsection (a) on the first day of each quarter and on the Termination Date.", "samples": [{"hash": "eZmb6Fh6KY6", "uri": "/contracts/eZmb6Fh6KY6#minimum-interest-charge", "label": "Credit and Security Agreement (Pro Dex Inc)", "score": 21.0, "published": true}, {"hash": "4PeOqXX4b91", "uri": "/contracts/4PeOqXX4b91#minimum-interest-charge", "label": "Credit and Security Agreement (Pro Dex Inc)", "score": 21.0, "published": true}], "hash": "faef5eec66e3eec9ed2896b9998425be", "id": 5}, {"size": 14, "snippet_links": [{"key": "the-charge", "type": "clause", "offset": [29, 39]}, {"key": "the-fees", "type": "clause", "offset": [110, 118]}, {"key": "to-your-account", "type": "clause", "offset": [130, 145]}, {"key": "purchase-balance", "type": "definition", "offset": [163, 179]}, {"key": "unless-otherwise-stated", "type": "clause", "offset": [180, 203]}, {"key": "in-this-agreement", "type": "definition", "offset": [204, 221]}, {"key": "fee-limits", "type": "clause", "offset": [286, 296]}, {"key": "amount-allowed", "type": "clause", "offset": [326, 340]}, {"key": "to-charge", "type": "clause", "offset": [395, 404]}, {"key": "fee-amount", "type": "definition", "offset": [414, 424]}], "snippet": "If you are charged Interest, the charge will be no less than the Minimum Interest Charge listed in the chart. The fees that apply to your Account are shown in the purchase balance unless otherwise stated in this Agreement. If charging any fee shown in the chart would exceed first-year fee limits set by law, we may charge an amount allowed by law. If we do this, it does not affect our ability to charge the full fee amount later.", "samples": [{"hash": "deuieeqOw0b", "uri": "/contracts/deuieeqOw0b#minimum-interest-charge", "label": "Credit Card Agreement", "score": 23.8788509369, "published": true}, {"hash": "cIv9dbFYASy", "uri": "/contracts/cIv9dbFYASy#minimum-interest-charge", "label": "Credit Card Agreement", "score": 23.7583847046, "published": true}, {"hash": "iZx3Kkt57EE", "uri": "/contracts/iZx3Kkt57EE#minimum-interest-charge", "label": "Credit Card Agreement", "score": 23.754278183, "published": true}], "hash": "238f7a2e7ce12e8660adceb25891f083", "id": 10}, {"size": 16, "snippet_links": [{"key": "loan-fees", "type": "definition", "offset": [25, 34]}, {"key": "finance-charges", "type": "definition", "offset": [53, 68]}, {"key": "date-of", "type": "clause", "offset": [96, 103]}, {"key": "the-loan", "type": "clause", "offset": [104, 112]}, {"key": "subject-to", "type": "definition", "offset": [129, 139]}, {"key": "result-of-default", "type": "clause", "offset": [193, 210]}, {"key": "required-by-law", "type": "definition", "offset": [233, 248]}, {"key": "full-prepayment", "type": "clause", "offset": [274, 289]}, {"key": "this-note", "type": "clause", "offset": [293, 302]}, {"key": "obligation-to-pay", "type": "clause", "offset": [412, 429]}, {"key": "without-penalty", "type": "clause", "offset": [476, 491]}, {"key": "a-portion", "type": "definition", "offset": [499, 508]}, {"key": "amount-owed", "type": "definition", "offset": [516, 527]}, {"key": "early-payments", "type": "clause", "offset": [552, 566]}, {"key": "by-lender", "type": "clause", "offset": [594, 603]}, {"key": "in-writing", "type": "clause", "offset": [604, 614]}, {"key": "obligation-to-continue", "type": "clause", "offset": [647, 669]}, {"key": "make-payments", "type": "clause", "offset": [673, 686]}, {"key": "payment-schedule", "type": "clause", "offset": [697, 713]}, {"key": "balance-due", "type": "definition", "offset": [764, 775]}, {"key": "payments-marked", "type": "clause", "offset": [863, 878]}, {"key": "paid-in-full", "type": "clause", "offset": [880, 892]}, {"key": "without-recourse", "type": "clause", "offset": [896, 912]}, {"key": "if-borrower", "type": "clause", "offset": [936, 947]}, {"key": "lender-may", "type": "definition", "offset": [970, 980]}, {"key": "of-lender", "type": "clause", "offset": [1010, 1019]}, {"key": "borrower-will", "type": "clause", "offset": [1050, 1063]}, {"key": "to-lender", "type": "definition", "offset": [1112, 1121]}, {"key": "written-communications", "type": "definition", "offset": [1127, 1149]}, {"key": "disputed-amounts", "type": "definition", "offset": [1161, 1177]}, {"key": "payment-instrument", "type": "definition", "offset": [1208, 1226]}, {"key": "payment-in-full", "type": "definition", "offset": [1272, 1287]}, {"key": "other-conditions", "type": "definition", "offset": [1333, 1349]}, {"key": "satisfaction-of", "type": "clause", "offset": [1376, 1391]}, {"key": "pacific-western", "type": "definition", "offset": [1442, 1457]}, {"key": "national-bank", "type": "definition", "offset": [1458, 1471]}], "snippet": "Borrower agrees that all loan fees and other prepaid finance charges are earned fully as of the date of the loan and will not be subject to refund upon early payment (whether voluntary or as a result of default), except as otherwise required by law. In any event, even upon full prepayment of this Note, Borrower understands that Lender is entitled to a minimum interest charge of $100.00. Other than Borrower's obligation to pay any minimum interest charge, Borrower may pay without penalty all or a portion of the amount owed earlier than it is due. Early payments will not, unless agreed to by Lender in writing, relieve Borrower of Borrower's obligation to continue to make payments under the payment schedule. Rather, early payments will reduce the principal balance due and may result in Borrower's making fewer payments. Borrower agrees not to send Lender payments marked \"paid in full\", \"without recourse\", or similar language. If Borrower sends such a payment, Lender may accept it without losing any of Lender's rights under this Note, and Borrower will remain obligated to pay any further amount owed to Lender. All written communications concerning disputed amounts, including any check or other payment instrument that indicates that the payment constitutes \"payment in full\" of the amount owed or that is tendered with other conditions or limitations or as full satisfaction of a disputed amount must be mailed or delivered to: Pacific Western National Bank, \u2587\u2587\u2587\u2587\u2587\u2587\u2587 Hills Office, \u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587, \u2587\u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587, \u2587\u2587 \u2587\u2587\u2587\u2587\u2587.", "samples": [{"hash": "jKfwku6oDIy", "uri": "/contracts/jKfwku6oDIy#minimum-interest-charge", "label": "Business Loan Agreement (Kennedy Wilson Inc)", "score": 20.0, "published": true}, {"hash": "3tTIzfhVCUV", "uri": "/contracts/3tTIzfhVCUV#minimum-interest-charge", "label": "Business Loan Agreement (Kennedy Wilson Inc)", "score": 20.0, "published": true}], "hash": "b0cedaa058509632588b512c5671ea57", "id": 6}, {"size": 15, "snippet_links": [{"key": "full-prepayment", "type": "clause", "offset": [24, 39]}, {"key": "this-note", "type": "clause", "offset": [43, 52]}, {"key": "obligations-to-pay", "type": "clause", "offset": [161, 179]}, {"key": "without-penalty", "type": "clause", "offset": [226, 241]}, {"key": "a-portion", "type": "definition", "offset": [249, 258]}, {"key": "early-payments", "type": "clause", "offset": [297, 311]}, {"key": "agreed-to-by", "type": "definition", "offset": [329, 341]}, {"key": "in-writing", "type": "clause", "offset": [349, 359]}, {"key": "obligation-to-continue", "type": "clause", "offset": [392, 414]}, {"key": "payments-of-accrued", "type": "clause", "offset": [423, 442]}, {"key": "unpaid-interest", "type": "definition", "offset": [443, 458]}, {"key": "balance-due", "type": "definition", "offset": [508, 519]}, {"key": "payments-marked", "type": "clause", "offset": [556, 571]}, {"key": "paid-in-full", "type": "clause", "offset": [573, 585]}, {"key": "without-recourse", "type": "clause", "offset": [589, 605]}, {"key": "if-borrower", "type": "clause", "offset": [629, 640]}, {"key": "borrower-will", "type": "clause", "offset": [743, 756]}, {"key": "amount-owed", "type": "definition", "offset": [793, 804]}, {"key": "to-lender", "type": "definition", "offset": [805, 814]}, {"key": "written-communications", "type": "definition", "offset": [820, 842]}, {"key": "disputed-amounts", "type": "definition", "offset": [854, 870]}, {"key": "payment-instrument", "type": "definition", "offset": [901, 919]}, {"key": "the-payment", "type": "clause", "offset": [940, 951]}, {"key": "payment-in-full", "type": "definition", "offset": [965, 980]}, {"key": "other-conditions", "type": "definition", "offset": [1026, 1042]}, {"key": "satisfaction-of", "type": "clause", "offset": [1069, 1084]}, {"key": "minnesota-bank", "type": "definition", "offset": [1135, 1149]}], "snippet": "In any event, even upon full prepayment of this Note, \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 understands that Lender is entitled to a minimum interest charge of $10.00. Other than Borrower\u2019s obligations to pay any minimum interest charge, Borrower may pay without penalty all or a portion of the amount earlier than it is due. Early payments will not, unless agreed to by \u2587\u2587\u2587\u2587\u2587\u2587 in writing, relieve \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 of \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2019s obligation to continue to make payments of accrued unpaid interest. Rather, early payment will reduce the principal balance due. \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 agrees not to send Lender payments marked \u201cpaid in full\u201d, \u201cwithout recourse\u201d, or similar language. If Borrower sends such a payment, \u2587\u2587\u2587\u2587\u2587\u2587 may accept it without losing any of \u2587\u2587\u2587\u2587\u2587\u2587\u2019s rights under this Note, and Borrower will remain obligated to pay any further amount owed to Lender. All written communications concerning disputed amounts, including any check or other payment instrument that indicates that the payment constitutes \u201cpayment in full\u201d of the amount owed or that is tendered with other conditions or limitations or as full satisfaction of a disputed amount must be mailed or delivered to: Minnesota Bank & Trust, \u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587, \u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587, \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587, \u2587\u2587 \u2587\u2587\u2587\u2587\u2587.", "samples": [{"hash": "6fplimCoDXE", "uri": "/contracts/6fplimCoDXE#minimum-interest-charge", "label": "Revolving Credit Note (Air T Inc)", "score": 29.4832305908, "published": true}, {"hash": "2xhT8iWufLP", "uri": "/contracts/2xhT8iWufLP#minimum-interest-charge", "label": "Term Note (Air T Inc)", "score": 29.4832305908, "published": true}, {"hash": "9nFZzbyTLQW", "uri": "/contracts/9nFZzbyTLQW#minimum-interest-charge", "label": "Revolving Credit Note (Air T Inc)", "score": 28.2676258087, "published": true}], "hash": "b12b7e236277031aa556fff21cbf7d70", "id": 8}, {"size": 15, "snippet_links": [{"key": "finance-charge", "type": "clause", "offset": [41, 55]}, {"key": "billing-period", "type": "clause", "offset": [88, 102]}, {"key": "periodic-interest", "type": "definition", "offset": [114, 131]}], "snippet": "There will be a minimum interest charge (finance charge) of fifty cents ($.50) for each billing period in which a periodic interest charge is payable on your Purchases Account.", "samples": [{"hash": "ugszDASh2p", "uri": "/contracts/ugszDASh2p#minimum-interest-charge", "label": "Mcu Visa Platinum Cardholder Agreement", "score": 34.4974784851, "published": true}, {"hash": "lxE08ie4o03", "uri": "/contracts/lxE08ie4o03#minimum-interest-charge", "label": "Visa Cardholder Agreement", "score": 34.1214027405, "published": true}, {"hash": "bWw9Qp3kjPB", "uri": "/contracts/bWw9Qp3kjPB#minimum-interest-charge", "label": "Mcu Visa Platinum Cardholder Agreement", "score": 27.3436012268, "published": true}], "hash": "5fb6da5ad696cdb33ee89c655ad135c1", "id": 7}, {"size": 14, "snippet_links": [{"key": "the-total", "type": "clause", "offset": [3, 12]}, {"key": "charges-for", "type": "clause", "offset": [29, 40]}, {"key": "the-account", "type": "clause", "offset": [134, 145]}, {"key": "in-lieu-of", "type": "clause", "offset": [159, 169]}], "snippet": "If the total of the interest charges for all balances is less than $1.50, then a Minimum Interest Charge of $1.50 will be assessed on the Account. This fee is in lieu of any interest charge.", "samples": [{"hash": "e9QrJD9Dnae", "uri": "/contracts/e9QrJD9Dnae#minimum-interest-charge", "label": "Credit Card Agreement", "score": 35.9437828064, "published": true}, {"hash": "4NkgSi7GFA4", "uri": "/contracts/4NkgSi7GFA4#minimum-interest-charge", "label": "Credit Card Agreement", "score": 34.4272117615, "published": true}, {"hash": "5o5AQz7pdOE", "uri": "/contracts/5o5AQz7pdOE#minimum-interest-charge", "label": "Credit Card Agreement", "score": 34.3655357361, "published": true}], "hash": "3e20b2b1505ed90114819c61afda04bb", "id": 9}], "next_curs": "CmASWmoVc35sYXdpbnNpZGVyY29udHJhY3RzcjwLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IiBtaW5pbXVtLWludGVyZXN0LWNoYXJnZSMwMDAwMDAwYQyiAQJlbhgAIAA=", "clause": {"size": 517, "parents": [["amount-and-terms-of-the-credit-facility", "Amount and Terms of the Credit Facility"], ["interest-charges", "Interest Charges"], ["interest-minimum-interest-charge-default-interest-rate-application-of-payments-participations-usury", "Interest Minimum Interest Charge Default Interest Rate Application of Payments Participations Usury"], ["interest-minimum-interest-charge-default-interest-participations-usury", "Interest; Minimum Interest Charge; Default Interest; Participations; Usury"], ["using-your-account", "Using Your Account"]], "title": "Minimum Interest Charge", "children": [["prepayment", "Prepayment"], ["amount-of-minimum-payment", "Amount of Minimum Payment"], ["application-of-payments", "Application of Payments"], ["balance-transfers", "BALANCE TRANSFERS"], ["purchases", "PURCHASES"]], "id": "minimum-interest-charge", "related": [["interest-charges", "Interest Charges", "Interest Charges"], ["minimum-interest-coverage-ratio", "Minimum Interest Coverage Ratio", "Minimum Interest Coverage Ratio"], ["interest-expense-coverage-ratio", "Interest Expense Coverage Ratio", "Interest Expense Coverage Ratio"], ["minimum-interest-coverage", "Minimum Interest Coverage", "Minimum Interest Coverage"], ["minimum-consolidated-interest-coverage-ratio", "Minimum Consolidated Interest Coverage Ratio", "Minimum Consolidated Interest Coverage Ratio"]], "related_snippets": [], "updated": "2026-06-18T06:05:23+00:00", "also_ask": ["What is the strategic rationale for including a minimum interest charge in this agreement?", "Which essential elements must be drafted to ensure the minimum interest charge is enforceable?", "What are the primary legal risks or potential invalidity issues with minimum interest charges?", "How do minimum interest charge provisions compare across relevant jurisdictions or industry standards?", "What arguments or evidence have courts found persuasive when upholding or striking down minimum interest charges?"], "drafting_tip": "Specify the minimum interest amount, clarify its calculation method, and state its application period to ensure transparency, prevent disputes, and facilitate enforceability.", "explanation": "A Minimum Interest Charge clause sets a baseline amount of interest that must be paid by a borrower, regardless of how low the calculated interest might otherwise be. For example, even if the interest accrued on a loan for a given period is less than a specified minimum (such as $1 or $2), the borrower is still required to pay at least that minimum amount. This clause ensures that the lender receives a guaranteed minimum return on the credit extended, preventing situations where very low balances or short billing cycles would result in negligible or no interest payments."}, "json": true, "cursor": ""}}