Average Monthly Balance definition
Average Monthly Balance means, with respect to any Indebtedness incurred by the Issuer or its Restricted Subsidiaries under a revolving credit facility, the quotient of (x) the sum of each Individual Monthly Balance for each fiscal month ended on or prior to such date of determination and included in the Reference Period divided by (y) 12, and (c) “Individual Monthly Balance” means, with respect to any Indebtedness incurred by the Issuer or its Restricted Subsidiaries under a revolving credit facility during any fiscal month of the Issuer, the quotient of (x) the sum of the aggregate outstanding principal amount of all such Indebtedness at the end of each day of such fiscal month divided by (y) the number of days in such fiscal month.
Average Monthly Balance shall be calculated monthly by adding together the daily aggregate unpaid principal balance of all Pending mortgage loans and pools of mortgage loans under all Early Funding Agreements in the aggregate, with that sum divided by the number of days in such month. The Average Monthly Balance shall be calculated by ▇▇▇▇▇▇ Mae using data from ▇▇▇▇▇▇ Mae’s internal systems for tracking early funding transactions. The data from these internal systems will be conclusive and binding upon PHH and ▇▇▇▇▇▇ Mae, absent manifest error.
Average Monthly Balance means the amount derived from adding the ending outstanding balance under the Revolving Line for each day in the month and dividing by the number of days in the month.
Examples of Average Monthly Balance in a sentence
An unused fee equal to 0.50% per annum of the difference between the amount of the Revolving Line as in effect from time to time and the Average Monthly Balance in each month, which fee shall be payable monthly in arrears on the first day of each month and shall be nonrefundable.
Average Monthly Balance – The average monthly balance is calculated by adding the Average Daily Balance for each month that the account was open during the year and dividing the figure by the number of months the account was open.
The Months for which such charges shall be paid, together with the bid Average Monthly Balance and the bid Commodity Charge which shall be used to calculate such charges are specified in Appendix A.
Access Checking N/A N/A N/A None in an office $500 online $5,000 in Combined Average Monthly Balance.
Average Monthly Balance (AMB): The Fund’s AMB for a month is equal to the sum of all of the Fund’s daily uninvested daily cash balances for the calendar month, less 10% reserves, divided by the actual number of days in the calendar month.
More Definitions of Average Monthly Balance
Average Monthly Balance means the average
Average Monthly Balance means, with respect to any Indebtedness incurred by the Issuer or the Restricted Subsidiaries under a revolving credit facility, the quotient of (i) the sum of each Individual Monthly Balance for each fiscal month ended on or prior to the relevant date of determination and included in the applicable Reference Period divided by (ii) 12.
Average Monthly Balance means the average monthly balance of public deposits held by the depository during any 12 calendar months. The average monthly balance of the previous 12 calendar months shall be determined by adding the average daily balance for the reported month and the average daily balances for the 11 months preceding that month and dividing the total by 12.
Average Monthly Balance means, as of any date of determination, with respect to any Indebtedness under the ABL Facility or any other revolving credit facility, the quotient of (x) the sum of each Individual Monthly Balance for each fiscal month ended during the most recently completed Test Period divided by (y) 12; provided that (i) if any Indebtedness under the ABL Facility or any other revolving credit facility is incurred during such Test Period to finance a Permitted Acquisition, an Investment or a Restricted Payment, the Individual Monthly Balance for each fiscal month included in such Test Period and ended prior to the date of the incurrence of such Indebtedness shall be increased by the aggregate principal amount of all such Indebtedness incurred to finance such Acquisition, Investment or Restricted Payment, as the case may be, and the Average Monthly Balance shall be calculated using each such Individual Monthly Balance as so increased and (ii) if any Indebtedness under the ABL Facility or any other revolving credit facility is repaid with the net cash proceeds of a Disposition during such Test Period, each Individual Monthly Balance for a fiscal month included in such Test Period and ended prior to the date of the repayment of such Indebtedness shall be decreased by the aggregate principal amount of such Indebtedness so repaid; provided further, that any adjustments required to be made pursuant to the preceding proviso shall be set forth in reasonable detail in the Compliance Certificate with respect to the applicable Test Period delivered pursuant to Section 6.02(a) (and, to the extent any other certificate setting forth the Total Leverage Ratio is required to be delivered hereunder, in such other certificate). Notwithstanding the foregoing, the Individual Monthly Balance for each of the fiscal months set forth in the table below shall be deemed to be the amount set forth in such table opposite such fiscal month:
Average Monthly Balance means the average monthly balance of public deposits held, before deducting deposit insurance, by the depository during any 12 calendar months. The average monthly balance of the previ- ous 12 calendar months must be determined by adding the average daily balance before deducting deposit insurance for the reported month and the average daily balances before deducting deposit insurance for the 11 months preceding that month and dividing the total by 12.
Average Monthly Balance means the summation of each day-end balance in Emirates NBD Skywards Savings Account for each month divided by the number of calendar days for that month
Average Monthly Balance. The average monthly balance is calculated by adding the Average Daily Balance for each month that the account was open during the year and dividing the figure by the number of months the account was open. Partial months are included and count as full months for this calculation. We use the average monthly balance to determine eligibility for bonus interest rates available on certain savings accounts. Business Day: For electronic funds transfer and funds availability purposes, our business days are Monday through Friday except for federal public holidays. For all other purposes in this Agreement, our business days include Monday through Friday on days that we are open. We may close for federal public holidays, either on the date of the holiday or near the date of the holiday, or for other reasons. Principal Balance (Collected Balance): The balance for the account, less the portion of funds deposited for which we have not received credit based on our funds availability schedule. All interest-bearing deposit accounts accrue interest daily on the “collected balance” in the account. Consumer Deposit Account: Any deposit account primarily for personal, family, or household purposes. These accounts are usually owned by one or more individuals, or in trust for one or more individuals, or for the benefit of one or more individuals.