Average Deposit Balance definition

Average Deposit Balance means the average of the daily balances of the Deposits (not including (a) Deposits that would become subject to escheat pursuant to applicable law in the calendar year in which the Closing occurs in the absence of further contact by the holder of such Deposit or its representative, (b) collateralized Deposits, (c) municipal Deposits, (d) Brokered Deposits, (e) Certificates of Deposit that are in denominations of $100,000 or more, except for those Certificates of Deposit set forth on Schedule 1.1(a), an update to which schedule shall be delivered to Purchaser by Seller not less than two (2) Business Days prior to the Closing Date, provided that such Schedule shall not include any Certificates of Deposit that are Brokered Deposits, and (f) the Excluded ▇▇▇/▇▇▇▇▇ Plan Deposits) for the thirty (30) calendar days ending the Business Day before the Closing Date.
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Average Deposit Balance means the average of the daily balances of the Deposits for the ten (10) days ending as of the close of business on the Closing Date or on the date of the Waiver Election, if any; provided that with respect to Deposits booked at Branches (including in-store Branches at Albertson's, Inc.) that are to be closed, consolidated with another branch of HNB or Purchaser, or divested, where the written notice thereof provided for in Section 4.2 is first sent to Deposit account holders prior to the Effective Time, for purposes of calculating the Average Deposit Balance, the average daily balance of such Deposits shall be deemed to be the balance of such Deposits on the day such notice is first sent to such holders. Notwithstanding the foregoing, no Deposits booked at any Branch to be closed, consolidated or divested in connection with the transactions contemplated by this Agreement that are moved, reopened or otherwise transferred to any other Branch shall be counted more than once for purposes of calculating the Average Deposit Balance.
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Average Deposit Balance means the average of the daily closing balances of the Deposits on each calendar day during the thirty (30) day period ending on (and including) the day prior to February 15, 2001.
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Examples of Average Deposit Balance in a sentence

  • Seller shall deliver to Purchaser on the date of the calculation of the Average Deposit Balance and on the Closing Date, a list in electronic format reasonably acceptable to Purchaser of all Deposits, as of such dates, used to calculate the Average Deposit Balance and the name, address and tax identification number of the applicable Deposit holder.

  • In a Base Rate Month, interest shall accrue at the Fixed Rate for such month; provided, however, that to the extent that Bank's Average Advances exceeds Bank's Average Deposit Balance in any calendar month, as determined as of the last day of such calendar month, the amount of such excess shall bear interest for such month at the rate per annum equal to the lesser of (a) the sum of the Base Rate and one and three quarters percent (1.75%) or (b) the Maximum Rate.

  • The Borrower agrees to pay to the Bank an annual fee in an amount equal to 0.5% of the Commitment ("Annual Fee"), if Borrower fails to maintain an Aggregate Average Deposit Balance with the Bank of at least Thirty Five Million Dollars ($35,000,000.00).

  • Sellers shall deliver to Purchaser on the date of the calculation of the Average Deposit Balance and on the Closing Date, a list in electronic format reasonably acceptable to Purchaser (it being understood and agreed that the electronic format previously provided by Sellers to Purchaser shall be deemed to be reasonably acceptable to Purchaser) of all Deposits, as of such dates, used to calculate the Average Deposit Balance and the name, address and social security numbers of the applicable Deposit holder.

  • Notwithstanding the foregoing, Borrower shall not be obligated to pay a Non-Utilization Fee for any Fiscal Quarter in which the Borrower and its Affiliates maintain aggregate Minimum Average Deposit Balance with Bank of not less than 120% of the Committed Sum.


More Definitions of Average Deposit Balance

Average Deposit Balance. The average daily balance of funds maintained in Borrower’s deposit account with Lender over a one-month period for purposes of determining the LIBOR Interest Rate Spread or Base Rate Spread, as applicable, measured monthly on a trailing basis.”
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