Minimum Operating Balance definition
Minimum Operating Balance means seven hundred and fifty thousand Dollars ($750,000) where the Vessel is not employed under an Acceptable Charter or two hundred and fifty thousand Dollars ($250,000) for the duration that the Vessel is employed under an Acceptable Charter.
Examples of Minimum Operating Balance in a sentence
Balance Evidence of the credit to the Earnings Account of the appropriate Minimum Operating Balance.
The Borrower shall ensure that from the Delivery Date and throughout the remainder of the Facility Period the appropriate Minimum Operating Balance remains credited to the Earnings Account.