Deficit definition

Deficit means an excess of liabilities and reserves of a fund over its assets.

Deficit means total annual revenues minus total annual expenditures.

Deficit means a situation for any fund of a municipality in which, at the end of a fiscal year, total expenditures, including an accrued deficit, exceeded total revenues for the fiscal year, including any surplus carried forward.

Examples of Deficit in a sentence

• As a result of the aforementioned notification by the Municipality, where there is a Deficit, WSW will not oblige the Municipality to provide loans to WSW in accordance with Clause [5(5)(a)] of this Agreement if the Deficit is the result of a Guarantee Payment pursuant to a guarantee obligation entered into by WSW in connection with a Secured Loan and that Secured Loan was entered into after the effective date referred to in the preceding sentence.

• In order to avoid a Deficit as a result of which Municipalities must provide loans to WSW, WSW will make every effort to do whatever is necessary to collect the Liability from Participants.

• The total amount of loans that the Municipalities have to provide to WSW under the Backstop Agreements in the event of a Deficit.

• Each Deficit Notice will in any event contain (i) an estimate of the amount of the loans to be provided by the Municipality to WSW on a monthly basis under this Agreement, (ii) a statement of the dates on which such loans are to be provided and (iii) the bank account number into which the amounts are to be deposited.

• WSW sends the Municipality a Deficit Notice when a Forecast shows a Deficit.

More Definitions of Deficit

Deficit means a unit of measure generated when a

Deficit means the occurrence when expenditures exceed revenues.

Deficit shall have the meaning set forth in Section 2.2 hereof.

Deficit has the meaning given in Section 8.2(a).

Deficit means the amount by which actual expenses exceeds the event fee. (1.1.3 e))

Deficit means the net excess of expenditure over income;

Deficit means the aggregate amounts in USD in respect of each Fiscal Quarter since a Performance Fee last became due and payable, not including the Fiscal Quarter in respect of which a calculation is being made, by which the Benchmark Return for each such Fiscal Quarter exceeds the Return for that Fiscal Quarter (if any).