Net Credit Balance definition
Net Credit Balance means the outstanding principal balance of a credit less the “net realizable value” of any “eligible collateral;”
Net Credit Balance means the aggregate of the Credit Balances of all Accounts within a Profile less the aggregate of all Casual Overdrafts on any Account within such Profile;
Examples of Net Credit Balance in a sentence
If there are two or more Accounts in the Profile earning the highest rate of interest, then as between such Accounts, such part of the Net Credit Balance of the Accounts in the Profile will be transferred to the Account in that Profile in descending order of account number.
After such application, Clause 3.2(a)(A) and 3.2(a)(B) shall apply to determine where the Aggregate Net Credit Balance will be automatically applied.
The Aggregate Net Credit Balance will be automatically applied to reduce the Actual Outstanding Mortgage Loan Prin- cipal in descending order from the Mortgage Loan Facility charging the highest rate of interest to the Mortgage Loan Facility charging the lowest rate of interest.