Funds Employed definition

Funds Employed means gross Factored Accounts outstanding on Factor's books less any balance outstanding in the Reserve Account to the credit of Company.
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Funds Employed as used herein, shall mean the aggregate amount of all outstanding Advances, Discounts, interest, fees, expenses and other indebtedness, liabilities and obligations owing by Seller to Greystone from time to time under this Agreement. All Funds Employed owing from time to time shall be due and payable by Seller on demand by Greystone.
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Funds Employed means the cumulative uncollected balance of the Purchase Price of all outstanding Purchased Accounts (which are not Closed) minus the balance in the Reserve Account.
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Examples of Funds Employed in a sentence

  • The term "Funds Employed", as used herein, shall mean the aggregate amount of all outstanding Advances, Discounts, interest, fees, expenses and other indebtedness, liabilities and obligations owing by Seller to Greystone from time to time under this Agreement.

  • Seller agrees to pay Greystone a facility fee equal to .50% of any increase in the Maximum Funds Employed, payable concurrently with any such increase.

  • The Estimated Net Funds Employed shall not be less than 80% of “Net Funds Employed” as set forth on the Sample Closing Statement.

  • As long as no Event of Default has occurred and is continuing, Seller agrees to consider Seller's requests for increases in the Maximum Funds Employed in increments of $1,000,000, up to an amount not to exceed $9,000,000.

  • Seller agrees to pay Greystone a facility fee equal to .50% of the Maximum Funds Employed concurrently with the execution hereof.

  • Seller agrees to maintain at all times an Equity Advance (as defined below) of at least $1,000,000 (the "Minimum Equity Advance"); provided, however, the Minimum Equity Advance if the Net Funds Employed increases to $8,000,000 or $9,000,000 will be $1,250,000 and $1,500,000, respectively.

  • All Funds Employed owing from time to time shall be due and payable by Seller on demand by Greystone.

  • If the Reserve Account should show a debit balance, such debit balance shall be added to gross Accounts Receivable outstanding in determining Funds Employed.

  • During the thirty (30)-day period following the delivery of a Notice of Disagreement, Sellers and Purchaser shall seek in good faith to resolve in writing any differences that they may have with respect to the matters specified in the Notice of Disagreement and seek to agree on a final determination of the Closing Net Funds Employed, the Foreign Cash Amount and the Prepaids Amount.

  • The Non-Utilisation Fee shall be calculated in accordance with the following formula: N% X F = NUF where: N% is the Non-Utilisation Fee Percentage F is the amount by which average Funds in Use during any calendar month are less than Net Funds Employed.


More Definitions of Funds Employed

Funds Employed means as of any date of determination the sum of (a) the
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Funds Employed means gross Accounts Receivable outstanding on Factor's books less any balance outstanding in the Reserve Account to the credit of Client. If the Reserve Account should show a debit balance, such debit balance shall be added to gross Accounts Receivable outstanding in determining Funds Employed. "Index Rate" shall mean the latest rate for 30-day dealer placed commercial paper (which for purposes hereof shall mean high grade unsecured notes sold through dealers by major corporations in multiples of $1,000), which normally is published in the "Money Rates" section of The Wall Street Journal (or if such rate ceases to be so published, as quoted from such other generally available and recognizable source as Lender may select). The Index Rate shall be determined (i) on the first business day immediately prior to the Closing Date and (ii) thereafter, on the last business day of each calendar month for calculation of interest for the following month. Interest will be calculated on a daily basis (computed on the actual number of days elapsed over a year of three hundred sixty (360) days) and shall be charged to the Reserve Account as of the last day of each month. If average daily Funds Employed reflect a credit balance, Factor shall credit the Reserve Account, as of the last day of the month, with interest on such average daily credit balance at a rate equal to three percent below the Governing Rate. The applicable Governing Rate for the balance of the calendar month during which this Agreement becomes effective shall be based on the Index Rate in effect on the last day of the month preceding the date of this Agreement and the applicable Governing Rate for each month thereafter shall be based on the Index Rate in effect on the last day of the preceding calendar month. On computing interest payable by Client under this Agreement and any supplement hereto, all Customer checks and other payments received by Factor shall be deemed applied to the Obligations two business days after the date of Factor's receipt.
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Funds Employed means at any time the amount by which the balance of the Unpaid Receivables Account exceeds the balance of the Reserve Account. If the Reserve Account should show a debit balance, such debit balance shall be added to the balance of the Unpaid Receivables Account in determining Funds Employed. The "Index Rate" shall mean the latest rate for 30-day dealer placed commercial paper (which for purposes hereof shall mean high grade unsecured notes sold through dealers by major corporations in multiples of $1,000), which normally is published in the "Money Rates" section of The Wall Street Journal (or if such rate ceases to be published, as quoted from such other generally available and recognizable source as Factor may select). The Index Rate shall be determined (i) on the first business day immediately prior to the Effective Date (defined in Section 18 below) and (ii) thereafter, on the last business day of each calendar month for calculation of interest for the following month. Interest shall be calculated on a daily basis (computed on the actual number of days elapsed over a year of three hundred sixty (360) days) and shall be charged to the Reserve Account as of the last day of each month. For the purpose of computing interest payable by Client under this Agreement and any supplement hereto, all customer checks and other payments received by Factor shall be deemed applied to the Obligations two (2) calendar days after being credited to Client consistent with the provisions of Section 10 of this Agreement.
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Funds Employed. (meaning that the balance of the Unpaid Receivables Account exceeds the balance of the Reserve Account), then Client shall pay interest upon the average daily Funds Employed at the close of business each day at a per annum rate equal to (a) one percent (1%) over the Prime Rate or (b) five percent (5%), whichever is greater; PROVIDED, HOWEVER, that if an Event of Default (defined below) has occurred and is continuing, such interest rate shall be increased by three percent (3%) until such Event of Default is cured or waived by Factor. The "PRIME RATE" shall be defined as the per annum prime interest rate which normally is published in the "MONEY RATES" section of THE WALL STREET JOURNAL (or if such rate ceases to be published, as quoted from such other generally available and recognizable source as Factor may select). Interest shall be calculated on a daily basis (computed on the actual number of days elapsed over a year of three hundred sixty (360) days) and shall be charged to the Reserve Account as of the last day of each month. For the purpose of computing interest payable by Client under this Agreement and any supplement hereto, all customer checks and other payments received by Factor shall be deemed applied to the Obligations three (3) business days after being credited to Client consistent with the provisions of Section 10 of this Agreement.
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Funds Employed shall be defined as gross accounts receivable outstanding on Factor's books less any balance outstanding in the Reserve Account to the credit of Client. (If the Reserve Account should show a debit balance, such debit balance shall be added to gross accounts receivable outstanding in determining Funds Employed.) Prime Rate shall mean the published prime commercial loan interest rate charged by the First Union National Bank of North Carolina. Interest will be calculated on a daily basis (computed on the actual number of days elapsed over a year of 360 days) and shall be charged to Client's Reserve Account as of the last day of each month. If average daily Funds Employed reflect a credit balance, Factor shall credit Client's Reserve Account, as of the last day of the month, with interest on such average daily credit balance at a rate equal to three percent (3%) below the Prime Rate. In computing interest, all customer checks received by Factor shall be subject to bank clearance of three business days from the date of deposit.
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Related to Funds Employed

  • Self-employed INDIVIDUAL Means an individual who has Earned Income for the taxable year from the trade or business for which the Plan is established; also, an individual who would have had Earned Income but for the fact that the trade or business had no net profits for the taxable year.

  • Employed shall have their correlative meanings. The Committee in its sole discretion may determine (i) whether and when a Grantee’s leave of absence results in a termination of Employment (for this purpose, unless the Committee determines otherwise, a Grantee shall be treated as terminating Employment with the Firm upon the occurrence of an Extended Absence), (ii) whether and when a change in a Grantee’s association with the Firm results in a termination of Employment and (iii) the impact, if any, of any such leave of absence or change in association on Awards theretofore made. Unless expressly provided otherwise, any references in the Plan or any Award Agreement to a Grantee’s Employment being terminated shall include both voluntary and involuntary terminations.

  • Actively Employed – means the employee has been at work and performing assigned duties for at least 80 percent of the work days over the previous 12 months.

  • Excluded Employee means an employee as defined in section 3527, subd. (b) of the Government Code (Ralph C. Dills Act) except those excluded employees who are designated managerial pursuant to section 18801.1 of the Government Code.

  • U.S. Employee means a person who is an employee of the Company (or of any Subsidiary) for purposes of section 422 of the Code.