Earnings Credit. Effective with the end of the 1993 Plan Year, the Company shall, at the end of each calendar quarter beginning with the second quarter of 1994, credit each reserve established and maintained pursuant to Section A.7 above with earnings pursuant to this Section A.8:
Earnings Credit. If an earnings credit accrues on your account, the Bank will periodically apply your accrued earnings credit to eligible Bank fees and expenses (unless the Bank otherwise indicates in writing). The amount of Earnings Credit received each month is based on your Average Collected Balance, multiplied by the current earnings credit rate in effect. The earnings credit rate is determined by the Bank and is set each month based on current market conditions. The rate is subject to change without notice to you. The Bank may debit your account (or any other account you maintain at the Bank) or invoice you for any amount by which the fees and expenses exceed the accrued earnings credit on your account. Facsimile or Mechanical Signatures Many customers use a facsimile or other mechanical signature, including a stamp, referred to herein as (“facsimile signature”) to execute agreements, authorize transactions, provide and authorize instructions and to indorse or otherwise complete other documents. If you use any form of facsimile signature in connection with any account, you agree to deliver a sample to us before you begin using it, and to execute and deliver agreements in a suitable form, if we so require. If you use a facsimile signature for any of these purposes, you are responsible for any such transactions, instructions or indorsements that appear to us to bear a signature that resembles the signature of a person authorized to sign on your account. When you use a facsimile signature in connection with any account, you agree you shall have the sole responsibility for maintaining security of the facsimile signature or device by which it is affixed, and you shall bear the entire risk for unauthorized use thereof, whether or not you are negligent, except as may be required by law. You agree that we may rely on facsimile signatures that resemble the appropriate original or any signature specimen given to us and that appears to have been made through an authorized medium, regardless of how the facsimile signature came to be placed on the item. We may rely on facsimile signatures, even if they were placed on agreements, transactions, instructions, items or otherwise without your knowledge or consent. We may pay items bearing facsimile signature, regardless of the persons to whom they are drawn or paid. A facsimile signature that resembles an authorized signer’s signature or any facsimile signature specimen is not considered a forgery or an unauthorized signature, and such...
Earnings Credit. Each month, the Service calculates the monthly average collected account balance net of deposit float and reserves (“investable balance”). Investable balances are then multiplied by the Bank’s Earnings Credit Rate (“Rate”) to determine your Earnings Credit, which is the credit that can offset all or part of your monthly fees and charges. The Rate is determined by the Bank, and is set each month based on market conditions, account balances, account services and market segment. You agree that this Rate is subject to change without prior notice to you. The Bank’s current Rate may be obtained by contacting us. Your Earnings Credit applies only to the current statement period. It does not accrue beyond the statement period, and any excess Earnings Credit is not credited to your account.
Earnings Credit. If an earnings credit accrues on your account, the Bank will periodically apply your accrued earnings credit to eligible Bank fees and expenses (unless the Bank otherwise indicates in writing). The amount of earnings credit received each month is based on your Average Positive Collected Balance, multiplied by the current earnings credit rate in effect (times the number of days in the month, divided by the number of days in the year). The earnings credit rate is determined by the Bank and is set each month based on current market conditions. The rate is subject to change without notice to you. The Bank may debit your account (or any other account you maintain at the Bank) or invoice you for any amount by which the fees and expenses exceed the accrued earnings credit on your account.
Earnings Credit. For the Fund's Check Issuance Demand Deposit Account, PFPC will calculate an earnings credit, net of the Federal Reserve requirement (currently 10%), based upon the 90-day Treasury Bill rate as published in the Wall Street Journal. PFPC will credit the Fund for 50% of the earnings credit. For the Purchase Account, there will be no earnings credit since PFPC advances funds to the custodial account prior to receiving full availability from the Federal Reserve.
Earnings Credit. Our Commercial Checking accounts do not earn interest, but provide you the ability to receive an earnings credit each statement cycle period. We calculate the amount of the earnings credit each statement cycle period in accordance with certain market conditions. We may change the manner in which we calculate the amount of your earnings credit at any time and without notice to you. The amount of the earnings credit may be used to offset certain monthly service charges. If the amount of your earnings credit in a particular statement cycle period is less than the amount of the monthly service charge for that statement cycle period your Commercial Checking account will be assessed the difference between the two as a service charge. If the amount of your earnings credit in a particular statement cycle period is greater than the amount of the monthly service charge for that statement cycle period your Commercial Checking account will not be assessed a monthly service charge for that statement cycle period. Excess earnings credit cannot be carried over to the next statement cycle period.
Earnings Credit. Applies to Commercial Analysis only: A monthly earnings credit will be calculated when the statement is produced. The earnings credit rate is adjusted monthly. The Bank reserves the right to adjust the earnings credit and may change the rate without notice. This calculation will use the average collected balance in the account reduced by a 10% Federal Reserve Bank requirement. The amount of the credit will be applied against the standard monthly fees. RATE INFORMATION. Applies to IOLTA only: The interest rate on your NJ IOLTA account is tiered. A flat rate will be applied to PA IOLTA and NY XXXX. The daily interest rate paid is based on your balance. You will be paid one interest rate each day on the full balance of the account. For NY XXXX accounts, you will be paid on the daily collected balance. At our discretion, we may change the interest rate on your account at any time. Interest will be compounded monthly. The interest will be posted to the account on the statement cycle date and then transferred to an IOLTA/XXXX remittance account, to be remitted monthly to the IOLTA/XXXX Fund for the applicable state. Interest begins to accrue on the business day that you make a deposit, whether the deposit is in cash or non-cash items (for example, checks). The account will earn interest on the daily balance in the account from banking day of deposit to banking day of withdrawal. BALANCE COMPUTATION METHOD. We use the daily balance method to calculate the interest on this account. This method applies a daily periodic rate to the principal in the account each day.
Earnings Credit. The amount calculated using the Average Investable Balance in your Account and applying an interest rate. This amount offsets against most standard service charges for Bank services used during the Analysis Period. If such charges are greater than the Earnings Credit, a net service charge is assessed. Such net service charge may be described as a Maintenance Fee on the statement of your Account.
Earnings Credit. Fees for services used by you may be assessed in full to your accounts or may be offset through account analysis by applying earnings credit to your service charges to determine a single monthly net service charge. Your earnings credit rate is established by us and will change from time to time. Your net service charge could be zero if your earnings credit equals or exceeds your total charges in a given month. Federal law prohibits us from paying excess earnings credit to you. If your earnings credit is not sufficient to offset the amount due hereunder, you agree to pay such amounts to us upon demand.
Earnings Credit. A balance credit equal to 75% of the 90 day CD rate in effect the last business day of each month will be applied to the Custodian Demand Deposit Account balance of each fund, net of check redemption service overdrafts, on a pro-rated basis against the fund’s custodian fee, excluding out-of-pocket expenses. The balance credit will be cumulative and carried forward each month. Any excess credit remaining at year-end (December 31) will not be carried forward.
