Minimum Deposit. If the Borrowers shall fail to maintain with the Bank during any calendar quarter non-interest bearing deposits having net collected balances, after charges to compensate Bank for services rendered to Borrowers, of an aggregate amount of $250,000, the Borrowers shall pay to the Bank a fee equal to the amount of such deficit multiplied by a rate per annum equal to the sum of the average daily Wall Street Journal Prime Rate plus 3.00%.
Appears in 3 contracts
Sources: Loan Modification Agreement (Coffee Holding Co Inc), Loan Modification Agreement (Coffee Holding Co Inc), Loan and Security Agreement (Coffee Holding Co Inc)