Low Usage Fee definition
Examples of Low Usage Fee in a sentence
If you fail to purchase your Minimum Volume Requirement, we may, at our option, terminate this Agreement and cease delivery of propane to you, adjust the daily price of the propane we deliver to you, charge you a Low Usage Fee, and/or increase your Tank Rent to reflect your low usage.
In consideration of the Revolving Commitments, the Borrower agrees to pay to the Administrative Agent for the ratable benefit of the Lenders a low usage fee (the "Low Usage Fee") equal to the Applicable Percentage per annum on the outstanding Obligations for any day that the average outstanding Obligations for such day do not exceed an amount equal to twenty-five percent (25%) of the Aggregate Revolving Committed Amount.
The Low Usage Fee shall be payable quarterly in arrears on the last Business Day of each March, June, September and December for the immediately preceding calendar quarter (or portion thereof) beginning with the first such date to occur after the Closing Date (as well as on the Termination Date).