Examples of Maximum Revolving Amount in a sentence
In the event the average closing daily unpaid balances of all Revolving Advances hereunder during any calendar month is less than the Maximum Revolving Amount, Borrower shall pay to Lender a fee at a rate per annum equal to three-eighths of one percent (.375%) on the amount by which the Maximum Revolving Amount exceeds such average daily unpaid balance.
After each such partial reduction, the commitment fees payable hereunder shall be calculated upon the Maximum Revolving Amount as so reduced.
Any partial reduction in the Maximum Revolving Amount shall be effective during the remainder of the Commitment Period.
Borrowers shall pay to Lender, as a consideration for the Revolving Credit Commitment, a commitment fee from the Closing Date to and including the last day of the Commitment Period, payable monthly, at a rate per annum equal to (i) thirty-seven and one-half (37.50) basis points, multiplied by (ii) (A) the average daily Maximum Revolving Amount in effect during such month, minus (B) the average daily Revolving Credit Exposure during such month.
Papers NumberedNotice of Motion - Affidavits - Exhibits.........................................