Net Debit definition

Net Debit. As defined in the Working Cash Sweep Agreement.
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Net Debit. As defined in the Working Cash Sweep Agreement. --------- Note: A Revolving Credit Note or a Term Note. ---- Obligations: Collectively, (i) all unpaid principal and accrued and unpaid ----------- interest under the Loans, (ii) all accrued and unpaid Fees hereunder or under any of the other Loan Documents, (iii) all obligations (contingent or matured) due the Bank pursuant to draws on Letters of Credit, (iv) any other amounts due hereunder or under any of the other Loan Documents, including all reimbursements, indemnities, Fees, costs, expenses, prepayment premiums, and other obligations of the Borrower or any Subsidiary to the Bank or any indemnified party hereunder and thereunder, (v) all other existing and future obligations of the Borrower or any Subsidiary to the Bank for the payment of money under any other agreement or instrument between the Borrower or any Subsidiary and the Bank or among the Borrower or any Subsidiary, the Bank and any other Person, including without limitation any Interest Hedge Agreement, and (vi) all reasonable out-of-pocket costs and reasonable expenses incurred by the Bank in connection with this Agreement and the other Loan Documents, including but not limited to the reasonable fees and expenses of the Bank's counsel.
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Examples of Net Debit in a sentence

  • At any time, Pershing may (i) require Client to repay any outstanding Net Debit Balance upon demand, (ii) modify the Margin Methodology without prior notice, and (iii) adjust the rates, fees and charges applicable to Client without prior notice.

  • Pershing reserves the right to charge interest based on an alternative Reference Rate upon five (5) Business Day's prior written notice if ▇▇▇▇▇▇▇▇'▇ actual out-of-pocket costs to facilitate a Net Debit Balance financing exceeds the rate charged or credited to Client.

  • If the amount exceeds the Net Debit Balance, PSI will credit JHCC at the **.

  • For any Business Day when the sum of all Credits and Debits transferred to or from the Account is a negative number ("Net Debit"), Bank shall direct Trustee to transfer to Bank assets from the Customer's Trust in an amount equal to the Net Debit for that Business Day.

  • John ▇▇▇c▇▇▇ ▇▇▇edom Securities Corporation ("JHFS") will finance JHCC's customer and firm Net Debit Balance.

  • The interest charged on the Net Debit Balance will be debited to the JHCC firm account monthly.

  • In the event that the assets transferred to the Account from the Customer's Trust under this Working Cash Sweep Agreement are insufficient to cover the Net Debit, Bank shall, on behalf of Customer, make an advance equal to the amount of (a) the remaining amount of the Net Debit, or (b) the amount, if any, available under the Line of Credit.

  • Pershing reserves the right to charge interest based on an alternative Reference Rate upon five (5) Business Day’s prior written notice if P▇▇▇▇▇▇▇’▇ actual out-of-pocket costs to facilitate a Net Debit Balance financing exceeds the rate charged or credited to Client.

  • Pershing reserves the right to charge interest based on an alternative Reference Rate upon five (5) Business Day’s prior written notice if Pershing’s actual out-of-pocket costs to facilitate a Net Debit Balance financing exceeds the rate charged or credited to Client.

  • In the event that the assets transferred ------------------ into the Parent Account from the Customer's Trust under the Working Cash Sweep Agreement are insufficient to cover the Net Debit, the Bank shall on behalf of the Borrower advance an amount equal to the lesser of (i) the remaining amount of the Net Debit or (ii) the Revolving Credit Commitment.

Related to Net Debit

  • Net Debt is calculated by adding short-term and long-term debt and subtracting cash and liquid assets.

  • Net Debt to EBITDA Ratio means the ratio of Net Debt to EBITDA for the then most recently concluded fiscal year, subject to adjustments for Asset Dispositions and investments made during the period.

  • Total Net Debt means, at any time, the aggregate amount of all obligations of members of the Group for or in respect of Borrowings at that time but:

  • Funds Flow Statement means a funds flow statement in agreed form.

  • Fiscal Month means each calendar month.