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 sum of the Finance and Factoring Fees paid to Buyer in each month would be at least 0.0075 of the Maximum Credit (the "Monthly Minimum Fee"). In the event the aggregate Finance and 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"). The Supplemental Fee, if any, for any month shall be calculated and due and payable on the first business day of the succeeding month.
Appears in 1 contract
Samples: Special Power of Attorney (Intelligent Highway Solutions, Inc.)
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 sum of the Finance and Factoring Fees paid to Buyer in each month would be at least 0.0075 N/A (or N/A) of the Maximum Credit (the "Monthly Minimum Fee"). In the event the aggregate Finance and 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"). The Supplemental Fee, if any, for any month shall be calculated and due and payable on the first business day of the succeeding month.
Appears in 1 contract
Samples: Accounts Receivable and Trade Financing Purchase and Security Agreement (Sealife Corp)
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 sum of the Finance Fees and Factoring Fees paid to Buyer in each month would be at least 0.0075 one-quarter of one percent (.25%) of the Maximum Credit (the "Monthly Minimum Fee"). In the event the aggregate Finance Fees, and 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"). The Supplemental Fee, if any, for any month shall be calculated and due and payable on the first business day of the succeeding month.
Appears in 1 contract
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 sum of the Finance Fees and Factoring Fees paid to Buyer in each month would be at least 0.0075 of the Maximum Credit four thousand ------------- dollars ($4,000) (the "Monthly Minimum Fee"). In ------ the event the aggregate Finance Fees, and 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"). The Supplemental Fee, if any, for any month shall be calculated and due and payable on the first business day of the succeeding month.
Appears in 1 contract
Samples: Factoring Agreement (MRL Inc)
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 sum of the Finance Fees and Factoring Fees paid to Buyer in each month would be at least 0.0075 ONE HALF OF ONE percent (.5%) of the Maximum Credit (the "Monthly Minimum Fee"). In the event the aggregate Finance Fees, and 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"). The Supplemental Fee, if any, for any month shall be calculated and due and payable on the first business day of the succeeding month.
Appears in 1 contract
