Low balance account definition

Low balance account means a customer account with a balance equal to two times the toll rate normally paid by the customer or less.
Sample 1
Low balance account means a deposit account: (a) which is not (i) a Share Repurchase Account, (ii) any Loan Parties' primary operating or deposit account, or (iii) an account identified on Schedule 5.21(d)(i) or in any Perfection Certificate which was in existence prior to October 16, 2012 (other than the U.S. Bank National Association account with an account number ending in 71798), and (b) with an account balance which when combined with the account balances in all other Low Balance Accounts does not exceed $200,000 in the aggregate at any time.
Sample 1

Examples of Low balance account in a sentence

  • Low balance account fee capIf your account balance is less than $6,000 at the end of the financial year, the total combined amount of administration fees, investment fees and indirect costs charged to you is capped at 3% of the account balance.

  • Low balance account statements for elementary students will be sent home weekly.

  • Low balance account: Any Trust Account which historically, generally based upon 12 consecutive months of activity, has an average daily balance of $5,000 Three Thousand Five Hundred ($3,500) Dollars or less (or such other amount as the IOLTA Board announces from time to time) will be exempt from being an IOLTA Account.

  • Low balance account fee capIf your account balance is less than $6,000 at the end of the financial year, the total combined amount of administration fees, investment fees and indirect costs charged to you is capped at 3% of the account balance.If you only hold an account for part of the financial year the 3% cap will apply to you on a pro rata basis and will be calculated on the earlier of the last day of the financial year or the last day on which you are a member of the fund.

  • Low balance account: Any custodial account which historically, generally based upon 12 consecutive months of activity, has an average daily balance of three thousand five hundred ($3,500) Dollars or less will be exempt from being a MJ-IOTA account.

  • Low balance account: Any Trust Account which historically, generally based upon 12 consecutive months of activity, has an average daily balance of Three Thou- sand Five Hundred ($3,500) Dollars or less (or such other amount as the Board announces from time to time) will be exempt from being an IOLTA Account.

  • Low balance account: Any pooled fiduciary account which historically, generally based upon 12 consecutive months of activity, has an average daily balance of Three Thousand Five Hundred ($3,500) Dollars or less will be exempt from being an IOLTA account.

Related to Low balance account

  • Aggregate Account means, with respect to each Participant, the value of all accounts maintained on behalf of a Participant, whether attributable to Employer or Employee contributions, subject to the provisions of Section 9.2.

  • Principal Accumulation Account Balance means, for any date of determination, the principal amount, if any, on deposit in the Principal Accumulation Account on such date of determination.

  • Accumulation Account The account designated as such, established and maintained pursuant to Section 5.01(a)(iii) of the Trust Sale and Servicing Agreement.

  • Excess Loss Account has the meaning set forth in Treas. Reg. Section 1.1502-19.

  • Distribution Account Deposit Date As to any Distribution Date, 12:30 p.m. Pacific time on the Business Day immediately preceding such Distribution Date.

  • Distribution Accounts Collectively, the Upper-Tier REMIC Distribution Account, the Lower-Tier REMIC Distribution Account, the Excess Interest Distribution Account (and in each case any subaccount thereof), all of which may be subaccounts of a single Eligible Account.

  • Interest Collection Subaccount The meaning specified in Section 10.2(a).

  • Note Account As defined in the Indenture.

  • Surplus Account has the meaning assigned to it in Section 3.02(a).

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];

  • Class Balance With respect to any Class of Certificates, at any time, the aggregate of the Certificate Balances of all Outstanding Certificates of such Class.

  • Interest Collection Account A sub-account of the Collection Account created and maintained on the books and records of the Securities Intermediary entitled “Interest Collection Account” in the name of the Borrower and subject to the Lien of the Collateral Agent for the benefit of the Secured Parties.

  • Excess Funds Subaccount is defined in Section 8.02(a) of the Indenture.

  • Targeted Accumulation Reserve Subaccount Deposit means, with respect to any Distribution Date during the Accumulation Reserve Funding Period, an amount equal to (i) 0.5% of the Outstanding Dollar Principal Amount of the Class A(2022-2) Notes as of the close of business on the last day of the related Due Period or (ii) any other amount designated by the Calculation Agent on behalf of the Issuer.

  • Principal Funding Account Balance means, with respect to any date of determination, the principal amount, if any, on deposit in the Principal Funding Account on such date of determination.

  • Specified Reserve Account Balance means, for any Payment Date, an amount equal to 1.00% of the Pool Balance as of the Cut-Off Date; provided, however, on any Payment Date after the Notes are no longer Outstanding following payment in full of the principal and interest on the Notes, the “Specified Reserve Account Balance” shall be $0.

  • Excess Reserve Fund Account The separate Eligible Account created and maintained by the Securities Administrator pursuant to Sections 3.07(b) and 3.07(c) in the name of the Securities Administrator for the benefit of the Regular Certificateholders and designated "Wells Fargo Bank, National Association in trust for registered Holders xx Xxrgan Stanley Capital I Inc. Trust 2006-HE2, Mortgage Pass-Through Cerxxxxxxtxx, Xxxies 2006-HE2." Funds in the Excess Reserve Fund Account shall be held in trust for the Regular Certificateholders for the uses and purposes set forth in this Agreement. Amounts on deposit in the Excess Reserve Fund Account shall not be invested.

  • Reserve Account Withdrawal Amount means, with respect to any Distribution Date, the lesser of (x) any shortfall in the amount of Available Funds available to pay the amounts specified in clauses (i) through (xvii) of Section 5.7(a) (taking into account application of Available Funds to the priority of payments specified in Section 5.7(a) and ignoring any provision hereof which otherwise limits the amounts described in such clauses to the amount of funds available) and (y) the amount on deposit in the Reserve Account on such Distribution Date prior to application of amounts on deposit therein pursuant to Section 5.8.

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Insurance Account shall have the meaning set forth in Section 8.6 hereof.

  • Tax Account shall have the meaning set forth in Section 8.6 hereof.

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.

  • Principal Distribution Account means the account by that name established and maintained pursuant to Section 4.1 of the Sale and Servicing Agreement.

  • Excess Funding Account shall have the meaning specified in subsection 4.2(d).

  • Interest Reserve Account As defined in Section 3.4(d).

  • Liquidity Reserve Account shall have the meaning set forth in Section 8.2(A)(iii).