Common use of Monthly Minimum Fee Clause in Contracts

Monthly Minimum Fee. Buyer would not have entered into this Agreement and agreed to provide Seller with the factoring arrangements hereunder unless Seller guaranteed Buyer that the Factoring Fees paid to Buyer in each month would equal or exceed the Monthly Minimum Fee. In the event the Factoring Fees paid during any month is less than the Monthly Minimum Fee, then Seller shall pay to Buyer the amount of any deficiency (the Supplemental Fee), which shall be in addition to any other fees payable under this Agreement. The Supplemental Fee, if any, for any month shall be calculated and due and payable on the first business day of the succeeding month and shall be payable for each month during the current Term of this Agreement regardless of whether this Agreement is terminated prior to the expiration of the then current Term.