Current Account Statement definition

Current Account Statement means a computer generated and controlled accounting and settlement statement created for each calendar month by the tenth Business Day of the month following which statement reflects intercompany charges and pro rations of charges for goods and services which include, without limitation, i) charges to ITEC for A) ITEC Paid Interest Charges, B) payments on account of Retail Accounts breach of warranty and other charges in respect of unauthorized sales of Retail Accounts pursuant to Section G or Article III and charge-backs in respect of Wholesale Accounts pursuant to Section A.5 of Article IV, C) the Retail Account Service Charge, D) the Dealer Open Account Service Charge, E) the Retail Accounts Adjustment, F) overpayments by NFC based on overestimates of Wholesale Contracts and Retail Accounts transferred to it, G) Dealer Repossession Loss H) Excess Discount, if any calculated pursuant to Article VII hereof and I) such other charges as the parties may agree to in writing; ii) charges reasonably allocable to NFC for A) underpayments by NFC based on underestimates of Wholesale Contracts and Retail Accounts transferred to it, B) accounting fees for independent auditing firms C) mainframe computer charges, D) publication subscriptions, E) Limited Liability Fee, F) promotional expenses, G) meeting expenses, H) car and equipment rental expenses, I) computer hardware and software acquisition expenses, J) telecommunications expenses, K) training expenses, L) real estate rental expenses, M) moving expenses, N) management retirement objective benefit expenses, O) allocated travel expenses, P) health and welfare expenses, Q) releases of the Reserve pursuant to paragraph 3 of Article VII.A, R) a refund of ITEC Paid-Interest Charges in respect of interest credits made by ITEC to Dealers’ Open Accounts purchased by NFC during the month and S) such other charges as the parties may agree to in writing.
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Examples of Current Account Statement in a sentence

  • The Customer is obliged to reimburse the Bank for the expenses incurred in connection with the preparation and issuance of the Current Account Statement to the Customer, if it is prepared or issued more often or is issued in a different way than specified in the Agreement and causes additional costs to the Bank.

  • Final Adjustments to reflect actual activity shall be made through adjustments to the Current Account Statement.

  • The Retail Account Service Charge shall be accounted for under the Current Account Statement and paid by ITEC to NFC on each Current Account Settlement Date.

  • The Dealer Open Account Service Charge shall be charged through the Current Account Statement for the relevant month and paid on the relevant Current Account Settlement Date by ITEC to NFC.

  • If the Client does not submit written objections regarding the content of such Current Account statement, does not submit any notice or other references within 1(one) Banking Day after the date the Bank has issued the Current Account Statement, it is considered that the Client has agreed and confirmed the correctness of the content of such documents.

  • If, at the end of any month, the amount of the Reserve exceeds the result of multiplying x) and y) in the preceding paragraph, NFC will release the amount of such excess from the Reserve and pay it to ITEC as part of the Current Account Statement on the next Current Account Settlement Date.

  • The Client is obliged to regularly check the correctness of banking transactions, listed in statements, and maximum within 1(one) Banking Day from the date of Current Account Statement issuance to notify the Bank in writing of all discovered discrepancies or errors in the Current Account statements and other documents, or about unacceptance (not confirmation) of the final balance on the Current Account.

  • Eurofactor will be entitled to modify and/or correct any Current Account Statement addressed to a Client or to the CMI, as applicable.

  • Current Account Statement that is active (current account used for project transactions) for the last 3 (three) months 6.

  • Each Current Account Statement will be binding upon the Client in question or the CMI, as applicable, except in the event of proven error or a justified challenge received by Eurofactor within one month following the date of sending of the Statement.

Related to Current Account Statement

  • Account Statement means a periodic statement of the transactions credited or debited to an Account;

  • Monthly Statement The statement delivered to the Certificateholders pursuant to Section 4.06.

  • City Ledger Report means a list submitted by the Contractor indicating on a daily basis its total number of sleeping room nights rented as well as the total number for sleeping rooms removed from its available inventory or rentals, for purposes of repair.

  • Audited Accounts means the audited accounts of the Company and of each of the Subsidiaries and the audited consolidated group accounts of the Group for the financial period ended on the Balance Sheet Date;

  • Current Account means a form of demand deposit wherefrom withdrawals are allowed any number of times depending upon the balance in the account or up to a particular agreed amount and will also include other deposit accounts which are neither Savings Deposit nor Term Deposit.