Minimum Loan Fee Clause Samples
The Minimum Loan Fee clause establishes the lowest fee that must be paid by the borrower for obtaining a loan, regardless of the loan amount or duration. In practice, this means that even if the calculated fee based on the loan terms would be less, the borrower is still obligated to pay at least the specified minimum fee. This clause ensures that the lender receives a guaranteed baseline compensation for processing and providing the loan, protecting them from incurring administrative costs without adequate remuneration.
Minimum Loan Fee. In the event the average closing daily unpaid balances of all Loans hereunder during any calendar month is less than the Minimum Average Monthly Loan Amount, Borrowers shall pay to Lender a minimum loan fee at a rate per annum equal to the Contract Rate on the amount by which the Minimum Average Monthly Loan Amount exceeds such average closing daily unpaid balances. Such fee shall be charged to Borrower’s account on the first day of each month with respect to the prior month.
Minimum Loan Fee. The first sentence in Section 2.9.1 of the Agreement is hereby deleted and replaced by the following: “The Borrower shall pay to the Bank a minimum loan fee of Seventeen Thousand Five Hundred Dollars ($17,500.00) (the “Minimum Loan Fee”).”
Minimum Loan Fee. In the event the average closing daily unpaid balances of all Loans hereunder during any calendar month is less than the Minimum Average Monthly Loan Amount, Borrowers shall pay to Lender a minimum loan fee at a rate per annum equal to the Contract Rate on the amount by which the Minimum Average Monthly Loan Amount exceeds such average closing daily unpaid balances. Such fee shall be charged to ▇▇▇▇▇▇▇▇’s account on the first day of each month with respect to the prior month. The Minimum Loan Fee is not payable during the period commencing the Effective Date of the Twenty-First Amendment until June 30, 2023. Thereafter, payment thereof shall resume by Borrower.
Minimum Loan Fee. If for any Contract Year, the average ---------------- daily unpaid balance of the Revolving Advances is less than $2,500,000 then as of the first Business Day of the next succeeding Contract Year or the last day of the third Contract Year, Borrower shall pay to Agent for its benefit and for the ratable benefit of the Lenders a fee equal to the product of (a) 2.5% times (b) such difference.
Minimum Loan Fee. In the event the average closing daily unpaid balances of all Loans hereunder and all Ace Loans and Consolidated Loans during any calendar month is less than the Minimum Average Monthly Loan Amount, Borrower shall pay to Lender a minimum loan fee at a rate per annum equal to the Contract Rate on the amount by which the Minimum Average Monthly Loan Amount exceeds such average closing daily unpaid balances. Such fee shall be calculated on the basis of a year of 360 days and actual days elapsed and such fee shall be charged to Borrower's account on the first day of each month with respect to the prior month. Notwithstanding the foregoing, in the event that a fee shall be due to Lender under the foregoing provision in the Ace Agreement or the Consolidated Agreement, then the total of such fee and the fee due hereunder shall not exceed the amount of the fee due hereunder.
Minimum Loan Fee. In the event the average closing daily unpaid balance of all Advances hereunder during any calendar month is less than the Minimum Loan Amount, the Borrowers shall pay to the Lender a minimum loan fee (the "Minimum Loan Fee") at a rate per annum equal to the Floating Rate on the amount by which the Minimum Loan Amount exceeds such average closing daily unpaid balance. Such fee shall be calculated on the basis of a year of 360 days and actual days elapsed.
Minimum Loan Fee. In the event the average closing daily unpaid balances of all Revolving Advances during any calendar month is less than $1,500,000, the Borrower shall pay the Lender a fee at a rate per annum equal to the Floating Rate applicable to Revolving Advances on the amount by which $1,500,000 exceeds such average closing daily unpaid balances. Such fee shall be fully earned and payable and charged to the Borrower’s account on the first day of each month with respect to the prior month.