Balance Shortfall Fee definition
Balance Shortfall Fee. The Company shall pay a balance shortfall fee for the preceding calendar quarter commencing June 1, 1997 at a rate per annum equal to the monthly average 91 day treasury bill rate in effect for the ▇▇▇▇ter multiplied by the average daily difference between $50,000 and the amount of aggregate free balances maintained by the Consolidated Group at the Bank for the quarter. Free balances shall mean balances in non-interest bearing accounts maintained by the Company or a Guarantor in excess of the amounts required to compensate the Bank for services rendered, determined in accordance with the Bank's standard system of analysis for similar accounts. Nothing contained herein shall require the Consolidated Group to maintain balances.