Average Term definition

Average Term means the average remaining term of the written contracts for the placement of Installed Phones; provided that, in calculating the term of any such contract, (a) an Installed Phone without a written contract shall be treated as if there is a contract with no remaining term; (b) any renewal term at the option of CCI shall be considered part of the term; (c) any contract which automatically renews unless the other party gives notice of its intention to terminate the contract or permit it to expire, shall be deemed to terminate as if such notice is given at the earliest permissible date; and (d) such calculation shall be weighted to take into account the number of telephones under each such contract.

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Average Term means, on any day, that period (expressed in days) equal to the weighted average number of days (based on aging categories) that the Portfolio Receivables are outstanding until paid in full as shall be calculated by Servicer as set forth in the most recent Periodic Report in accordance with the provisions thereof; provided, however, that if the Agent shall disagree with any such calculation, the Agent may recalculate the Average Term for such day, which calculation shall, absent manifest errors, be conclusive.

Average Term means the average remaining term of the written contracts for the placement of the Seller Phones; provided that, in making such calculation (a) a Seller Phone without a written contract shall be treated as if there is a contract with no remaining term; (b) any renewal at the option of the Seller shall be considered part of the term; (c) any contract which automatically renews unless the other party gives notice of its intention to terminate the contract or permit it to expire, shall be deemed to terminate as if such notice is given at the earliest permissible date; and (d) such calculation shall be weighted to take into account the number of telephones under each such contract.

Examples of Average Term in a sentence

Except as specifically provided in the next succeeding sentence, the Revolving Loans shall accrue interest at the Weighted Average Term Debt Rate plus three percent (3.0%) per annum, or the maximum interest rate allowable by law, if and to the extent applicable, whichever is lower.
If at the Closing Date the Average Term is less than 46 months, then the Consideration (as adjusted pursuant to Sections 1.4(a) and (b)) shall be further adjusted by multiplying it by a fraction, the numerator of which is the Average Term and the denominator of which is 46.
The Parties further acknowledge and agree that any disputed amounts which remain outstanding past their due date under the relevant Service Contract shall be taken into account for the purposes of calculating the Weighted Average Term.
The Average Term as of Closing will be 34 months, or such lesser number as shall be used to adjust the Consideration pursuant to Section 1.4(c) hereof.
If at the Closing Date the Average Term is less than 34 months, then the Consideration (as adjusted pursuant to Sections 1.4(a) and (b)) shall be further adjusted by multiplying it by a fraction, the numerator of which is the Average Term and the denominator of which is 34.
Section 5.1 In the event that the Weighted Average Term for settlement of outstanding invoices issued by Provider Group Companies to Recipient Group Companies pursuant to the Service Contracts exceeds [*****] from the date of invoice (as supported by reasonable evidence) (the “Delayed Invoice(s)”), the Provider shall have the right to notify the Recipient in writing of any such delay in settlement (the “Delay Notice”).

More Definitions of Average Term

Average Term means, with respect to any issue of general obligation refunding bonds, the product obtained by multiplying the principal amount of such general obligation refunding bonds maturing or subject to sinking fund installments in each bond year by the term of such general obligation refunding bonds, and dividing the sum of the amounts thus obtained by the aggregate principal amount of such issue of general obligation refunding bonds.