Minimum Term Fee. An amount equal to the monthly Interest Rate multiplied by the Minimum Average Monthly Volume set forth on Schedule A multiplied by the number of months in the Initial Term or any Renewal Term provided that no Event of Default has occurred. Upon the occurrence and during the continuation of an Event of a Default arising under Section 11.1(ii) of this Agreement, the Minimum Term Fee shall be three percent (3.0%) multiplied by the Minimum Average Monthly Volume multiplied by the number of months... in the Initial Term or any Renewal Term. If an Event of a Default arises under Section 11.1(i), (iii), (iv) or (v) of this Agreement, and such Event of Default is not remedied or waived within 45 days of the date an officer of Seller becomes aware of such Event of Default (the MTF Waiver Period), commencing on the first day immediately following the MTF Waiver Period, the Minimum Term Fee shall be three percent (3.0%) multiplied by the Minimum Average Monthly Volume multiplied by the number of months in the Initial Term or any Renewal Term. Notwithstanding anything to the contrary contained herein, if the Purchaser determines that an Account from an Account Debtor previously approved by Purchaser in writing is not or is no longer an Eligible Account or refuses to purchase an Account from an Account Debtor previously approved by Purchaser in writing, the Minimum Average Monthly Volume will be reduced by the Face Amount of such Account and the Minimum Term Fee will be reduced by such Face Amount multiplied by the Interest Rate for a sixty day period.View More
