Balance Funded Amount definition

Balance Funded Amount means with respect to any Lender for any Balance Calculation Period, the average of the Qualifying Balances of such Lender for such Balance Calculation Period. As used in this paragraph, "Qualifying Balances" shall mean, with respect to any Lender, for any day the lesser of (a) the amount of such Lender's Loans on such day, and (b) the sum of the collected balances in all identified non-interest bearing accounts of the Borrowers maintained with such Lender less (i) amounts necessary to satisfy reserve and deposit insurance requirements and (ii) amounts required to compensate such Lender for services rendered in accordance with such Lender's system of charges for services to similar accounts.

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Balance Funded Amount means with respect to any Buyer for any Balance Calculation Period, the average of the Qualifying Balances of such Buyer for such Balance Calculation Period. As used in this paragraph, “Qualifying Balances” shall mean, with respect to any Buyer, for any day the lesser of (a) the amount of such Buyer’s outstanding Purchase Price on Open Transactions on such day, and (b) the sum of the collected balances in all identified non-interest bearing accounts of the Seller maintained with such Buyer less (i) amounts necessary to satisfy reserve and deposit insurance requirements and (ii) amounts required to compensate such Buyer for services rendered in accordance with such Buyer’s system of charges for services to similar accounts.

Balance Funded Amount shall have the meaning ascribed to that term in Section 1.03(a)(ii).

Examples of Balance Funded Amount in a sentence

Each Lender's Loans (exclusive of any past due principal) from time to time outstanding shall bear interest on each day outstanding at the Applicable Rate in effect on such day; provided, however, that the portion of such Lender's Loans which is equal to the Balance Funded Amount for such Lender computed for the immediately preceding Balance Calculation Period, shall bear interest on each day outstanding at the Balance Funded Rate.
Each Lender which has any Balance Funded Amount for any Balance Calculation Period shall provide Agent written notice of such Balance Funded Amount not later than two Business Days after the end of such Balance Calculation Period, and Agent shall be entitled to rely on the accuracy of such notice in calculating the interest accrued for such Balance Calculation Period.
FIRST UNION NATIONAL BANK, Trustee By: Authorized Officer CLASS A INCREMENTAL FUNDINGS AND REPAYMENTS Class A Principal Outstanding Maximum Incremental Amount Repaid Principal Class A Funded Amount Balance Funded Amount EXHIBIT A-2 FORM OF CLASS B CERTIFICATE THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT").
The Loans made under this Note (exclusive of any past due principal or interest) from time to time outstanding shall bear interest on each day outstanding at the Applicable Rate in effect on such day; provided, however, that interest on the part of the Loans equal to the Balance Funded Amount for the immediately preceding Balance Calculation Period shall bear interest on each day outstanding at the Balance Funded Rate.
Each Lender which has any Balance Funded Amount for any Balance Calculation Period shall provide Administrative Agent written notice of such Balance Funded Amount not later than two (2) Business Days after the end of such Balance Calculation Period, and Administrative Agent shall be entitled to rely on the accuracy of such notice in calculating the interest accrued for such Balance Calculation Period.
For any Lender which has a Balance Funded Amount, the Balance Funded Rate shall apply first to such Lender's Tranche D Loans, second to such Lender's Unadjusted Tranche C Loans, third to such Lender's Unadjusted Tranche B Portion, fourth to such Lender's Unadjusted Tranche A Portion, fifth to such Lender's Adjusted Tranche C Portion, sixth to such Lender's Adjusted Tranche B Portion, and last to such Lender's Adjusted Tranche A Portion.
For any Lender which has a Balance Funded Amount, the Balance Funded Rate shall apply first to such Lender's Tranche D Loans, second to such Lender's Tranche C Loans, third to such Lender's Unadjusted Tranche B Portion, fourth to such Lender's Unadjusted Tranche A Portion, fifth to such Lender's Adjusted Tranche B Portion, and last to such Lender's Adjusted Tranche A Portion.

More Definitions of Balance Funded Amount

Balance Funded Amount means with respect to any Lender for any Balance Calculation Period, the average of the Qualifying Balances of such Lender for such Balance Calculation Period. As used in this paragraph, "Qualifying Balances" shall mean, with respect to any Lender, for any day the lesser of (x) the amount of such Lender's Loans on such day, and (y) the sum of the collected balances in all identified non-interest bearing accounts of Borrower maintained with such Lender less (i) amounts necessary to satisfy reserve and deposit insurance requirements and (ii) amounts required to compensate 8 such Lender for services rendered in accordance with such Lender's system of charges for services to similar accounts.

Balance Funded Amount means with respect to any Buyer for any calendar month, the average of the Qualifying Balances of such Buyer for such calendar month.

Balance Funded Amount means with respect to the Base Rate Portion on any --------------------- Base Rate Payment Date under the Note, the average of the Qualifying Balances for each day during the period from and including the immediately preceding Base Rate Payment Date (but not including) to the Base Rate Payment Date in question. As used in this paragraph, "Qualifying Balances" ------------------- shall mean for any day the lesser of (x) the amount of the Base Rate Portion on such day, and (y) the sum of the collected balances in all identified non- interest bearing accounts of Borrower maintained with Lender less (i) amounts necessary to satisfy reserve and deposit insurance requirements and (ii) amounts required to compensate Lender for services rendered in accordance with Lender's system of charges for services to similar accounts.

Balance Funded Amount. With respect to any Lender for any Balance Calculation Period, the average of the Qualifying Balances of such Lender for such Balance Calculation Period.