Excess Funds definition

Excess Funds shall have the meaning set forth in Section 2(l) of this Agreement.

Excess Funds means, on any Additional Payment Date, the amount of funds then existing in the Deposit Account (including any Net Operating Income due on the applicable Additional Payment Date), less an amount equal to the sum of three regularly scheduled payments of principal and interest due on this Note;

Excess Funds means, as of any date of determination and with respect to any Conduit Lender, funds of such Conduit Lender not required, after giving effect to all amounts on deposit in its commercial paper account, to pay or provide for the payment of (i) all of its matured and maturing commercial paper notes on such date of such determination and (ii) the principal of and interest on all of its loans outstanding on such date of such determination.

Examples of Excess Funds in a sentence

• Any departure by Bank from the foregoing requirement regarding Excess Funds shall not constitute a waiver by Bank or an obligation of Bank to depart from this requirement at any other time.

• Funds that are posted to the Sweep Account but are not yet available funds are not included in Excess Funds.

• Funds that are posted to the Master Account but are not yet available funds are not included in Excess Funds.

• The minimum transfer of Excess Funds from the Master Account to the Premium Yield Account is $1,000, and transfers of Excess Funds will be made in increments of $1,000.

• When the balance of available funds in a Sweep Account exceeds the “Target Balance” for that Sweep Account (as separately agreed to by Bank and Customer), Bank is hereby authorized and directed to withdraw the amount of the excess (as further defined below, the “Excess Funds”) on behalf of Customer, and transfer the Excess Funds to the Money Market Account and/or the Line of Credit, in accordance with the Treasury Management Services Enrollment/Application.

More Definitions of Excess Funds

Excess Funds as of any date of determination and with respect to any Conduit Lender, funds of such Conduit Lender not required, after giving effect to all amounts on deposit in its commercial paper account, to pay or provide for the payment of (i) all of its matured and maturing commercial paper notes on such date of such determination, (ii) the principal of and interest on all of its loans outstanding on such date of such determination and (iii) and other amounts in accordance with its commercial paper notes and applicable transaction documents.

Excess Funds has the meaning set forth in Section 2(u) hereof.

Excess Funds. With respect to the Reserve Fund and for any Distribution Date, the amount by which (a) the Yield Maintenance Agreement Payments for prior Distribution Dates exceed (b) the amount actually paid from the Reserve Fund with respect to (i) Yield Maintenance Amounts for such prior Distribution Dates and (ii) Yield Maintenance Amount Shortfalls for such prior Distribution Dates.

Excess Funds has the meaning given such term in Section 2.07.

Excess Funds shall have the meaning specified in Section 9.11(a).

Excess Funds means any funding amount remaining obligated on a contract at the time of contract closeout that is not needed to pay for contract performance or for contract adjustments (see DLAM 7010.02, Encl. 3, Table 1 for valid reasons funds should remain obligated). Excess funds are a subset of “unliquidated obligation(s).”

Excess Funds means the excess of (a) the aggregate projected value of such Conduit Purchaser's assets and other property (including cash and cash equivalents), over (b) the sum of (i) the sum of all scheduled payments of principal, interest and other amounts payable on publicly or privately placed indebtedness of such Conduit Purchaser for borrowed money, plus (ii) the sum of all other liabilities, indebtedness and other obligations of such Conduit Purchaser for borrowed money or owed to any credit or liquidity provider, together with all unpaid interest then accrued thereon, plus (iii) all taxes payable by such Conduit Purchaser to the Internal Revenue Service, plus (iv) all other indebtedness, liabilities and obligations of such Conduit Purchaser then due and payable, but the amount of any liability, indebtedness or obligation of such Conduit Purchaser shall not exceed the projected value of the assets to which recourse for such liability, indebtedness or obligation is limited. Excess Funds shall be calculated once each Business Day.