Non-utilisation fee. The Non-Utilisation Fee (if any) shall be calculated monthly, commencing on the Commencement Date. FGI shall debit the Non-Utilisation Fee to the Reserve Account on the last Business Day of each calendar month in which it accrues. The Non-Utilisation Fee shall be calculated in accordance with the following formula: N% X F = NUF where: N% is the Non-Utilisation Fee Percentage F is the amount by which average Funds in Use during any calendar month are less than Net Funds Employed. NUF is the Non-Utilisation Fee.
Appears in 2 contracts
Sources: Receivables Purchase Agreement (Ciber Inc), Receivables Purchase Agreement (Ciber Inc)