Common use of Minimum Interest Clause in Contracts

Minimum Interest. In the event the aggregate amount of interest earned by the Revolving Lenders in connection with the Revolving Loans in any month (such period, the “Minimum Interest Period”, which period shall begin on the Closing Date and continue with each month thereafter until the earlier of the Maturity Date or the date this Agreement is terminated) is less than $75,000 (exclusive of any collateral monitoring fees, Unused Line Fees, or any other fees and charges hereunder) (“Minimum Interest”), Borrower shall pay to Agent, for the ratable account of the Revolving Lenders, upon demand by Agent, an amount equal to the (A) Minimum Interest minus (B) the aggregate amount of all interest earned by Revolving Lenders (exclusive of any collateral monitoring fees, Unused Line Fees, or any other fees and charges hereunder) in such Minimum Interest Period. The amount of Minimum Interest charged shall be prorated for any partial Minimum Interest Period. Borrower shall not be entitled to any credit, rebate, or repayment of any Minimum Interest pursuant to this Section 2.06(g) notwithstanding any termination of this Agreement or the suspension or termination of any Lenders obligation to make loans and advances hereunder. Agent may deduct amounts owing by Borrower under this Section 2.06(g) by debiting the Designated Account. Agent shall provide Borrower written notice of deductions made from the Designated Account pursuant to the terms of this Section 2.06(g).

Minimum Interest. In the event the aggregate amount of interest earned by the Revolving Lenders in connection with the Revolving Loans Line in any month (such period, the “Minimum Interest Period”, ,” which period shall begin on the Closing Effective Date and continue with each month thereafter until the earlier of the Revolving Line Maturity Date or the date this Agreement is terminated) is less than $75,000 the amount of interest that would have been earned by the Revolving Lenders if Borrower had average outstanding Advances during the Minimum Interest Period in an amount equal to twenty percent (20%) of the average Availability Amount during such Minimum Interest Period (exclusive of any collateral monitoring fees, Unused Line Feesunused line fees, or any other fees and charges hereunder) (, the “Minimum Interest”), Borrower shall pay to Agent, Agent for the ratable account benefit of the Lenders holding Revolving LendersLine Commitments, upon demand by Agent, an amount equal to the (Ai) Minimum Interest minus (Bii) the aggregate amount of all interest earned by the Lenders in respect of the Revolving Lenders Line (exclusive of any collateral monitoring feesCollateral Monitoring Fees, Unused Revolving Line FeesFacility Fee, or any other fees and charges hereunder) in such Minimum Interest Period. The amount of Minimum Interest charged shall be prorated for any partial Minimum Interest Period. Borrower shall not be entitled to any credit, rebate, or repayment of any Minimum Interest pursuant to this Section 2.06(g2.3(d) notwithstanding any termination of this Agreement or the suspension or termination of any Lenders the Lender’s obligation to make loans and advances hereunder. Agent may deduct amounts owing by Borrower under this Section 2.06(g2.3(d) by debiting pursuant to the Designated Accountterms of Section 2.5(c). Agent shall provide Borrower written notice of deductions made from the Designated Deposit Account pursuant to the terms of this Section 2.06(g2.3(d).

Minimum Interest. In the event the aggregate amount of interest earned by Bank under the Revolving Lenders in connection with the Revolving Loans Line in any month (such period, the “Minimum Interest Period”, ,” which period shall begin on the Closing Effective Date and continue with each month thereafter until the earlier of the Revolving Line Maturity Date or the date this Agreement is terminated) is less than $75,000 the Minimum Interest Amount (exclusive inclusive of any collateral monitoring fees, Unused Line Fees, fees and float charges but exclusive of any unused line fees or any other fees and charges hereunder) (“Minimum Interest”), Borrower Co-Borrowers shall pay to Agent, for the ratable account of the Revolving LendersBank, upon demand by AgentBank, an amount equal to (i) the (A) Minimum Interest Amount minus (Bii) the aggregate amount of all interest earned by Bank under the Revolving Lenders Line (exclusive inclusive of any collateral monitoring fees, Unused Line Fees, fees and float charges but exclusive of any unused line fees or any other fees and charges hereunder) in such Minimum Interest Period. The amount of Minimum Interest charged shall be prorated for any partial Minimum Interest Period. Borrower Co-Borrowers shall not be entitled to any credit, rebate, or repayment of any Minimum Interest pursuant to this Section 2.06(g2.3(d) notwithstanding any termination of this Agreement or the suspension or termination of any Lenders Bank’s obligation to make loans and advances hereunder. Agent Bank may deduct amounts owing by Borrower Co-Borrowers under this Section 2.06(g2.3(d) by debiting pursuant to the Designated Accountterms of Section 2.5(c). Agent Bank shall provide Borrower Co-Borrowers written notice of deductions made from the Designated Deposit Account pursuant to the terms of this Section 2.06(g2.3(d).

Minimum Interest. In the event the aggregate amount of interest earned by the Revolving Line Lenders in connection with the Revolving Loans Line in any month (such period, the “Minimum Interest Period”, ,” which period shall begin on the Closing Date January 1, 2020 and continue with each month thereafter until the earlier of the Revolving Line Maturity Date or the date this Agreement is terminated) is less than $75,000 the amount of interest that would have been earned by the Revolving Line Lenders if Borrower had average outstanding Advances during the Minimum Interest Period in an amount equal to twenty-five percent (exclusive 25.0%) of the Revolving Line (inclusive of any collateral monitoring feesfees and float charges, Unused Line Fees, or and exclusive of any other fees and charges hereunder) (“Minimum Interest”), Borrower shall pay to Agent, for the ratable account of the Revolving Lenders, upon demand by Agent, an amount equal to the (Ai) Minimum Interest minus (Bii) the aggregate amount of all interest earned by Revolving Line Lenders (exclusive inclusive of any collateral monitoring feesfees and float charges, Unused Line Fees, or and exclusive of any other fees and charges hereunder) in such Minimum Interest Period. The amount of Minimum Interest charged shall be prorated for any partial Minimum Interest PeriodPeriod upon termination of this Agreement. Borrower shall not be entitled to any credit, rebate, or repayment of any Minimum Interest pursuant to this Section 2.06(g2.4(d) notwithstanding any termination of this Agreement or the suspension or termination of any Lenders Agent’s obligation to make loans and advances hereunder. Agent may deduct amounts owing by Borrower under this Section 2.06(g2.4(d) by debiting the from Borrower’s Designated Deposit Account. Agent shall provide Borrower written notice of deductions made from the Designated Deposit Account pursuant to the terms of this Section 2.06(g2.4(d).

Minimum Interest. In the event the aggregate amount of interest earned by the Revolving Lenders in connection with the Revolving Loans Bank in any month (such period, the “Minimum Interest Period”, which ,” with the initial period shall begin beginning on the Closing Fifth Amendment Effective Date and continue continuing with each month thereafter until the earlier of the Revolving Line Maturity Date or the date this Agreement is terminated) is less than the amount of interest which would have accrued if the average daily outstanding balance of the Revolving Line during such month had been Ten Million Dollars ($75,000 10,000,000) (exclusive of any collateral monitoring fees, Unused Line Feesunused line fees, or any other fees and charges hereunder) (“Minimum Interest”), Borrower shall pay to Agent, for the ratable account of the Revolving LendersBank, upon demand by AgentBank, an amount equal to (i) the (A) Minimum Interest minus (Bii) the aggregate amount of all interest earned by Revolving Lenders Bank (exclusive of any collateral monitoring fees, Unused Line Feesunused line fees, or any other fees and charges hereunder) in such Minimum Interest Period. The amount of Minimum Interest charged shall be prorated for any partial Minimum Interest Period. Borrower shall not be entitled to any credit, rebate, or repayment of any Minimum Interest pursuant to this Section 2.06(g2.3(g) notwithstanding any termination of this Agreement or the suspension or termination of any Lenders Bank’s obligation to make loans and advances hereunder. Agent Bank may deduct amounts owing by Borrower under this Section 2.06(g2.3(g) by debiting pursuant to the Designated Accountterms of Section 2.3(f). Agent Bank shall provide Borrower written notice of deductions made from the Designated Deposit Account pursuant to the terms of this Section 2.06(g2.3(g).