Common use of Interest Credit Clause in Contracts

Interest Credit. The Monetary Reserve shall be maintained as a separate account which shall bear interest at the rate negotiated from time to time between APX and the Depository and Clearing Agent. For purposes of the amount required to be maintained by the Participant as a Monetary Reserve Facility, on the tenth Business Day of each month, the Participant shall receive a credit in an amount equal to the interest earned on funds on deposit from time to time during the preceding calendar month Monetary Reserve Account. From and after such date, subject to Section 2.5, the Monetary Reserve Account shall include the amount of such interest credit as funds on deposit in the Monetary Reserve Account. Not less frequently than annually, APX shall direct the Depository and Clearing Agent to distribute to the Participant, to the extent that sufficient funds remain in the Monetary Reserve Account (and provided that after any such withdrawal the Participant would be in compliance with its requirement to maintain a Monetary Reserve Facility), an amount equal to the interest earned on funds held on deposit in the Monetary Reserve Account.

Interest Credit. The Monetary Reserve Account shall be maintained as a separate account which shall bear interest at the rate negotiated from time to time between APX and the Depository and Clearing Agent. For purposes of the amount required to be maintained by the Participant as a Monetary Reserve Facility, on the tenth Business Day of each month, the Participant shall receive a credit in an amount equal to the interest earned on funds on deposit from time to time during the preceding calendar month Monetary Reserve Account. From and after such date, subject to Section 2.5, the Monetary Reserve Account shall include the amount of such interest credit as funds on deposit in the Monetary Reserve Account. Not less frequently than annually, APX shall direct the Depository and Clearing Agent to distribute to the Participant, to the extent that sufficient funds remain in the Monetary Reserve Account (and provided that after any such withdrawal the Participant would be in compliance with its requirement to maintain a Monetary Reserve Facility), an amount equal to the interest earned on funds held on deposit in the Monetary Reserve Account.