Common use of Monitoring Fee Clause in Contracts

Monitoring Fee. Beginning on August 1, 2014, and on the first day of each month thereafter until this Agreement shall be terminated and all obligations, liabilities and indebtedness of Customer hereunder and of its Affiliates under Affiliate Account Purchase Agreements have been paid in full, Customer shall, and shall cause each of its Affiliates party to an Affiliate Account Purchase Agreement to, jointly and severally, pay to WFBC a monthly monitoring fee equal to $400,000, the amount of which fee shall be increased by $100,000 per month commencing September 1, 2014 (the “Increase Commencement Date”) and on the first day of each month thereafter; provided, that, (i) the monitoring fee for August 2014 shall be due in two equal installments of $200,000 each, with the first such installment due on August 1, 2014 and the second such installment (the “Deferred August Portion”) due on August 31, 2014, (ii) in the event the Customer delivers to WFBC the commitment letter referred to, and by no later than the date set forth, in Section 6.32 of this Agreement, (x) the Deferred August Portion shall be waived and (y) the Increase Commencement Date shall be October 1, 2014. The Customer acknowledges that WFBC may charge such monthly monitoring fee to the Customer’s Collected Reserve Account or to the Collected Reserve Account (as defined in the applicable Affiliate Account Purchase Agreement) under an Affiliate Account Purchase Agreement as WFBC may see fit in its discretion.”

Monitoring Fee. Beginning on August 1, 2014, and on the first day of each month thereafter until this Agreement shall be terminated and all obligations, liabilities and indebtedness of Customer hereunder and of its Affiliates under Affiliate Account Purchase Agreements have been paid in full, Customer shall, and shall cause each of its Affiliates party to an Affiliate Account Purchase Agreement to, jointly and severally, pay to WFBC a monthly monitoring fee equal to $400,000, the amount of which fee shall be increased by $100,000 per month commencing September 1, 2014 (the “Increase Commencement Date”) and on the first day of each month thereafter; provided, that, (i) the monitoring fee for August 2014 shall be due in two equal installments of $200,000 each, with the first such installment due on August 1, 2014 and the second such installment (the “Deferred August Portion”) due on August 31, 2014, (ii) in the event the Customer delivers to WFBC the commitment letter referred to, and by no later than the date set forth, in Section 6.32 6.33 of this Agreement, (x) the Deferred August Portion shall be waived and (y) the Increase Commencement Date shall be October 1, 2014. The Customer acknowledges that WFBC may charge such monthly monitoring fee to the Customer’s Collected Reserve Account or to the Collected Reserve Account (as defined in the applicable Affiliate Account Purchase Agreement) under an Affiliate Account Purchase Agreement as WFBC may see fit in its discretion.”