Minimum Monthly Shortfall definition
Minimum Monthly Shortfall means, in the event the aggregate amount of the Collateral Monitoring Fee plus the Daily Balance Fee paid by Seller to FSW in any calendar month is less than the Minimum Monthly Fee, such difference between the Minimum Monthly Fee and such Collateral Monitoring Fee actually paid by Seller to FSW during such applicable calendar month.
Examples of Minimum Monthly Shortfall in a sentence
If the aggregate amount of the Collateral Monitoring Fee and the Daily Balance Fee paid by Seller to FSW in any calendar month is greater than the Minimum Monthly Fee, then no Minimum Monthly Shortfall Fee will be owed by Seller to FSW for such calendar month.
In the event of a Minimum Monthly Shortfall, Seller agrees to pay the Minimum Monthly Shortfall within 15 days immediately following the last day of the month in which the Minimum Monthly Shortfall occurred.