Common use of Minimum Monthly Charge Clause in Contracts

Minimum Monthly Charge. For any month in which the Administrative Fee paid by Borrower to Lender hereunder is less than the Minimum Monthly Charge, the difference shall be added to Obligations as of the first day of the following month, until the date on which all Obligations have been fully repaid (whether or not this Agreement has heretofore been terminated).

Appears in 2 contracts

Sources: Loan Agreement (Photoloft Com), Loan Agreement (Nhancement Technologies Inc)

Minimum Monthly Charge. For any full month in which the Administrative sum of interest and the Collateral Management Fee paid earned by Borrower to Lender hereunder is less than the Minimum Monthly Charge, Lender shall debit the difference shall be added to the Obligations as of the first day of the following month, until the date on which all Obligations have been fully repaid (whether or not this Agreement has heretofore been terminated).

Appears in 1 contract

Sources: Loan and Security Agreement (Scolr Inc)