FPP Financing Charge definition
FPP Financing Charge. Prime Rate plus 1.50%; EXHIBIT A TO ADDENDUM TO AGREEMENT FOR WHOLESALE FINANCING FLEXIBLE PAYMENT PLAN ("FPP EXHIBIT A") (continued)
1. FPP Credit Line Fees, Rates and Repayment Terms (cont):
(i) FPP Working Capital Option ("WCO"): Outstanding advances authorized up to the amount of eligible collateral. Total Outstanding Indebtedness not to exceed the FPP credit line amount;
(j) WCO Term: 180 days;
FPP Financing Charge the rate set forth in Exhibit A.
Examples of FPP Financing Charge in a sentence
Finance charges for an Advance for a calendar month shall be equal to (i) one twelfth (1/12) of the FPP Financing Charge or applicable A/R Financing Charge multiplied by (ii) the Average Daily Balance of such Advance for the period when such finance charge accrues during such calendar month multiplied by (iii) the actual number of days during such calendar month when such finance charge accrues divided by (iv) thirty (30).