Minimum Monthly Interest. In the event the aggregate amount of interest earned by Bank in any calendar month (exclusive of any collateral monitoring fees, unused line fees, or any other fees and charges hereunder) is less than interest calculated based upon $2,000,000 outstanding under the Revolving Line with respect to each month (the “Minimum Monthly Interest”), Borrower shall pay Bank an amount, payable on the last day of such month, in an amount equal to the (i) Minimum Monthly Interest minus (ii) the aggregate amount of all interest earned by Bank (exclusive of any unused line fees, or any other fees and charges hereunder) in such month.” 6. The Loan Agreement shall be amended by deleting the following Section 5.7 thereof, entitled “Subsidiaries; Investments”:
Appears in 3 contracts
Sources: Loan and Security Agreement (Meru Networks Inc), Term Loan and Security Agreement (Meru Networks Inc), Term Loan and Security Agreement (Meru Networks Inc)