RLT Fee definition
Examples of RLT Fee in a sentence
As used herein, "average monthly outstandings" means the sum of the outstanding amount of the RLT Advances on each day during the month (or portion thereof for which the unused RLT Fee is being computed) with respect to which the Unused RLT Fee is being computed, divided by the number of days in that month (or portion thereof).
In connection with the RLT, Lender has earned and Borrower shall pay to Lender on or before the closing of the RLT a non-refundable RLT Fee (the "RLT Fee") in the amount of $1,000.00.
If the unused RLT Fee is being computed for less than a full month, the percentage used in clause (C) above shall be computed on a daily basis for the number of days for which the fee is being computed.
For each month (or portion thereof), the unused commitment fee shall be equal to (A) the RLT Amount minus (B) the "average monthly outstandings" for the month (or portion thereof) with respect to which the Unused RLT Fee is being computed, with the resulting number multiplied by (C) one-twelfth (1/12th) of the rate per annum set forth above.
Prior to the RLT Termination Date, an unused RLT fee (the "Unused RLT Fee") computed at the rate of one-quarter of one percent (.25%) per annum on the unused portion of the RLT Amount, calculated from the date of the RLT Note shall be payable monthly in arrears.