Average Contract Balance definition

Average Contract Balance the amount determined by dividing: (a) the sum of the Daily Contract Balances (as defined in Section 2.1.1) for a billing period; by, (b) the actual number of days in such billing period.
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Average Contract Balance the amount determined by dividing: (a) the sum of the Daily Contract Balances (as defined in Section 2.1.1) for a billing period; by, (b) the actual number of days in such billing period. "Default": the events or occurrences enumerated in Section 6. "Entity": any individual, association, firm, corporation, partnership, limited liability company, trust, governmental body, agency or instrumentality whatsoever. "Government Accounts": Accounts due and payable to a U.S. county, state or federal governmental body, agency or instrumentality; or body, agency or instrumentality of the District of Columbia. "Guarantor": a guarantor of any of the Obligations. "Inventory": all of Dealer's presently owned and hereafter acquired goods which are held for sale or lease. "Obligations": all liabilities and indebtedness now or hereafter arising, owing, due or payable from Dealer to DFS (and any of its subsidiaries and affiliates), including any third party claims against Dealer satisfied or acquired by DFS, whether primary or secondary, joint or several, direct, contingent, fixed or otherwise, and whether or not evidenced by instruments or evidences of indebtedness, and all covenants, agreements (including consent to binding arbitration), warranties, duties and representations, whether such Obligations arise under this Agreement, the Other Agreements or any other agreements previously, now or hereafter executed by Dealer and delivered to DFS or by operation of law. "Other Agreements": all security agreements (including the Agreement for Wholesale Financing), mortgages, leases,
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Average Contract Balance means the sum of the Daily Contract Balances for such month, divided by the number of days in such month.
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Examples of Average Contract Balance in a sentence

  • For purposes hereof, the term "Average Contract Balance" shall mean the sum of the Daily Contract Balances for such month, divided by the number of days in such month.

  • Borrower agrees to pay DFS, for DFS' own account, for its services in acting as Agent hereunder, a monthly administration fee (the "Administration Fee) in an amount equal to one half of one PERCENT (.5%) per annum of the "Average Contract Balance" (as defined below).


More Definitions of Average Contract Balance

Average Contract Balance the amount determined by dividing: (a) the sum of the Daily Contract Balances (as defined in SECTION 2.1.1) for a billing period; by, (b) the actual number of days in such billing period. "DEFAULT": the events or occurrences enumerated in SECTION 6. "ENTITY": any individual, association, firm, corporation, partnership, limited liability company, trust, governmental body, agency or instrumentality whatsoever. "GUARANTOR": a guarantor of any of the Obligations. "INVENTORY": all of Dealer's presently owned and hereafter acquired goods which are held for sale or lease. "OBLIGATIONS": all liabilities and indebtedness now or hereafter arising, owing, due or payable from Dealer to DFS (and any of its subsidiaries and affiliates), including any third party claims against Dealer satisfied or acquired by DFS, whether primary or secondary, joint or several, direct, contingent, fixed or otherwise, and whether or not evidenced by instruments or evidences of indebtedness, and all covenants, agreements (including consent to binding arbitration), warranties, duties and representations, whether such Obligations arise under this Agreement, the Other Agreements or any other agreements previously, now or hereafter executed by Dealer and delivered to DFS or by operation of law. "OTHER AGREEMENTS": all security agreements (including the Agreement for Wholesale Financing), mortgages, leases, instruments, documents, guarantees, schedules, certificates, contracts and similar agreements heretofore, now or hereafter executed by Dealer and delivered to DFS or delivered by or on behalf of Dealer to a third party and assigned to DFS by operation of law or otherwise. "PRIME RATE": the rate of interest which Chase Manhattan Bank publicly announces from time to time as its prime rate or reference rate; provided, however, that for purposes of this Agreement, the interest rate charged to Dealer will at no time be computed on a Prime Rate of less than Six percent ( 6% per annum. The Prime Rate will change and take effect for purposes of this Agreement on the day that Chase Manhattan Bank announces any change in its Prime Rate or reference rate. AR000010 8/97 1
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Related to Average Contract Balance

  • Average Contribution Percentage means the average of the Contribution Percentages of the Eligible Participants in a group.

  • Asset Balance means, for any Payment Date, the Pool Balance as of the beginning of the current Collection Period.

  • Target Balance has the meaning set forth in Section 6.1I(1) hereof.

  • New Balance This means the total outstanding balance on your account. It will be listed on each statement as the “New Balance”.

  • Adjusted Pool Balance means, on the Closing Date, an amount equal to:

  • Average Daily Balance means the balance sum computed by dividing the sum of the balance outstanding on each day from the first day of the next Billing Period by the number of days in that Billing Period. For the purpose of computation, each day’s balance is determined by adjusting the Total New Balance with payments, credit, cash withdrawal, purchases of goods and/or services obtained on the Sales Drafts and/or Cash Withdrawal Drafts received by Maybank before the Closing Date of each Billing Period;

  • Cash Balance means, at any date of determination, the unencumbered and otherwise unrestricted cash and Cash Equivalents of the NCLC Group.

  • Class Balance With respect to any Class of Certificates, at any time, the aggregate of the Certificate Balances of all Outstanding Certificates of such Class.

  • Scheduled Balance Not applicable.

  • Debit Balance means, as of any date, the dollar amount, if any, representing the accrued aggregate Annual Charge not deducted from the Liquid Balance.

  • Adjusted Principal Balance As to any Distribution Date and any Class of Class B Certificates, the greater of (A) zero and (B) (i) the Principal Balance of such Class with respect to such Distribution Date minus (ii) the Adjustment Amount for such Distribution Date less the Principal Balances for any Classes of Class B Certificates with higher numerical designations.

  • Average Monthly Compensation means the quotient determined by dividing the sum of the Employee’s then current Base Salary (as defined in Section 4.1 hereof) and the greater of the most recently paid Incentive Compensation (as defined in Section 4.2 hereof) or the average of Incentive Compensation paid over the three most recent years by twelve.

  • Minimum Balance means, at any time, an amount that equals the product of: (a) the average Borrowing Base (or, if less on any given day, the Revolving Loan Commitment) during the immediately preceding month multiplied by (b) the Minimum Balance Percentage for such month.

  • Unpaid Balance of any Receivable means at any time the unpaid principal amount thereof.

  • Average Excess Availability means, with respect to any period, the sum of the aggregate amount of Excess Availability for each Business Day in such period (calculated as of the end of each respective Business Day) divided by the number of Business Days in such period.

  • Interest Valuation Date means each date set out in the table below in the column entitled “Interest Valuation Dates”.

  • Minimum Dilution Reserve Percentage means, at any time of determination, the product (expressed as a percentage and rounded to the nearest 1/100th of 1%, with 5/1000th of 1% rounded upward) of (a) the average of the Dilution Ratios for the twelve (12) most recent Fiscal Months, multiplied by (b) the Dilution Horizon Ratio.

  • Minimum Cash Balance means $10,000,000 minus (i) $500,000, (ii) any amounts to be paid to holders of Allowed Ongoing Trade Claims of New Permian Corp., and (iii) any amounts to be paid to holders of Allowed Cure Amounts pursuant to Section 8.4(ii).

  • Class X Notional Balance With respect to any Distribution Date (and the related Accrual Period) the aggregate principal balance of the regular interests in REMIC 3 as specified in the Preliminary Statement hereto.

  • Component Balance With respect to any Component and any Distribution Date, the Initial Component Balance thereof on the Closing Date, (A) plus any increase in the Component Balance of such Component pursuant to Section 4.02 due to the receipt of Subsequent Recoveries, (B) minus the sum of all amounts applied in reduction of the principal balance of such Component and Realized Losses allocated thereto on previous Distribution Dates.

  • Cash Balances means cash in hand or credited to any account with a financial institution and securities which are readily convertible into cash;

  • Final Average Earnings means the earnings used to determine benefits under this Plan as further described in Article 7.