Minimum Finance Charge definition

Minimum Finance Charge. If periodic rate Finance Charges are billed in any billing cycle, the minimum Billed Periodic Rate Finance Charge will be as shown on the Schedule. We may allocate your minimum Billed Periodic Rate Finance Charge among your various Balance Categories in the manner that we select from time to time. The “minimum Billed Periodic Rate Finance Charge” will appear on your statement as the “Minimum Interest Charge” under the Fees heading.
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Minimum Finance Charge is an amount equal to the amount of Finance Charges and Collateral Handling Fees Bank would have earned in any fiscal quarter if the principal amount of outstanding Advances during such quarter averaged Two Million Dollars ($2,000,000.00). For purposes of this calculation, the highest Applicable Rate in effect at any time during such quarter shall used in calculating the Minimum Finance Charge for the entire quarter.
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Minimum Finance Charge is Five Thousand Dollars ($5,000.00).
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Examples of Minimum Finance Charge in a sentence

  • In the event that the aggregate amount of Finance Charges earned by Bank in any Reconciliation Period is less than the Minimum Finance Charge, Borrower shall pay to Bank an additional Finance Charge equal to (i) the Minimum Finance Charge minus (ii) the aggregate amount of all Finance Charges earned by Bank in such Reconciliation Period.

  • Borrower will pay a finance charge (the "Finance Charge"), which is equal to the greater of (i) the Applicable Rate multiplied by the number of days in the Reconciliation Period multiplied by the outstanding average daily Financed Receivable Balance for that Reconciliation Period, or (ii) the Minimum Finance Charge, as and when same may be applicable.

  • Borrower will pay a finance charge (the "Finance Charge"), which is the greater of (i) the Applicable Rate times the number of days in the Reconciliation Period times the outstanding average daily Financed Receivable Balance for that Reconciliation Period or (ii) the Minimum Finance Charge.

  • In the event that the aggregate amount of Finance Charges and Collateral Handling Fees earned by Bank in any quarter is less than the Minimum Finance Charge, Borrowers shall pay to Bank an additional Finance Charge equal to (i) the Minimum Finance Charge minus (ii) the aggregate amount of all Finance Charges and Collateral Handling Fees earned by Bank in such quarter.

  • Unless a Streamline Period is in effect, in the event that the aggregate amount of Finance Charges earned by Bank in any Reconciliation Period is less than the Minimum Finance Charge, Borrower shall pay to Bank an additional Finance Charge equal to (i) the Minimum Finance Charge minus (ii) the aggregate amount of all Finance Charges and Collateral Handling Fees earned by Bank in such Reconciliation Period.


More Definitions of Minimum Finance Charge

Minimum Finance Charge is a minimum monthly Finance Charge of $7,500.00 payable to the Bank.
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Minimum Finance Charge is Four Thousand Dollars ($4,000.00).
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Minimum Finance Charge is a minimum monthly Finance Charge to be imposed beginning in the first full month of this Agreement, payable in arrears, of: (a) through, and including, April 30, 2005, Fourteen Thousand Dollars ($14,000.00), which amount shall increase to Twenty Two Thousand Five Hundred Dollars ($22,500.00) when the Cap is Twenty Five Million Dollars ($25,000,000.00) as of the 2004 Closing Date, and (b) as of, and subsequent to, May 1, 2005, Six Thousand Dollars ($6,000.00).” and inserting in lieu thereof the following:
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Minimum Finance Charge is Two Thousand Dollars ($2,000.00).
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Minimum Finance Charge appearing in Section 1 thereof and inserting in lieu thereof the following:
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Minimum Finance Charge is Five Thousand Dollars ($5,000.00), provided, however, for any Reconciliation Period during which no Advances were outstanding at any time under this Exim Agreement and no Credit Extensions were outstanding at any time under the Domestic Agreement, the Minimum Finance Charge shall be Three Thousand Dollars ($3,000.00).”
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Minimum Finance Charge means any minimum or fixed finance
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