Open Account definition

Open Account means an account established for a Dealer by CNHi Capital pursuant to which CNHi Capital finances parts and other miscellaneous items or services sold to the Dealer.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Open Account means, in connection with the terms of purchase by a Loan Party or any Restricted Subsidiary of Equipment Inventory from a dealer, that such purchase is made on credit terms, on an unsecured basis, with payment by such Loan Party or Restricted Subsidiary expected to be made within 12 months of the date of purchase. The deferral of the purchase price of Equipment Inventory purchased on Open Account does not constitute Indebtedness unless and until such deferral extends 12 months or more after the date of purchase of such Equipment Inventory.

Open Account means any credit account that the borrower can currently utilize reported in the borrower’s credit report;

Examples of Open Account in a sentence

• The Open Account Fee and the Closed Account Fee shall be paid only with respect to accounts serviced directly by the Transfer Agent and not with respect to accounts serviced by third parties pursuant to omnibus account service or sub-accounting agreements, as provided in Section 2.04 of the Agreement.

• CNHi Capital shall establish from time to time interest rates and other charges applicable to financing and other services extended to Dealers under the Open Account and Wholesale Finance Plan terms.

• Unless other instructions are received by us on or before the settlement date, orders accepted by us may be placed in an Open Account in your name.

• The Open Account Fee will be billed monthly at a rate of 1/12 of the annual fee for each Fund account serviced during the month.

• Upon a Capital Default, or if for any reason CNHi Capital deems itself insecure with respect to financing being provided to a Dealer, CNHi Capital may place Dealer's Open Account on Stop Ship status.

More Definitions of Open Account

Open Account means the account established pursuant to Section 3.04 hereof.

Open Account is any account on the books of CFS representing record ownership of shares of a Fund which as of the first day of any calendar month has a share balance greater than zero. The Open Account fee shall be payable on a monthly basis, in an amount equal to 1/12 the per annum change.

Open Account means an Account that has not been closed by the Bank for risk, has not been closed by the Cardholder or has not been closed by the Bank for inactivity.

Open Account means an account that we agree to establish and maintain for you as part of the Bookkeeping Records. References to debits (charges) to the Open Account in this Agreement mean increases in the amounts you owe us (for example, when we pay a vendor’s invoice on your behalf the Open Account is debited or charged) and credits to the Open Account mean decreases in the amounts you owe us (for example, when Receipts are deposited in the Bank, such amount is credited to the Open Account).

Open Account means a shareholder account which has a balance at any time during a given month, a "closed account" shall mean an account that has a zero balance throughout any given month, and a "purged account" shall mean a closed account which the Fund has directed the Transfer Agent to remove from the System. In consideration of an Annual Per Account Fee per open account at the rates set forth below (charged on a monthly basis), plus payment by the Fund of out-of-pocket expenses in accordance with Appendix G hereto, the Transfer Agent shall provide the services provided for in this Agreement on any Fund Business Day, except as otherwise noted. Fund Annual Fee ---- ---------- MPAM Large Cap Stock Fund $12.78 MPAM Income Stock Fund MPAM Bond Fund MPAM Intermediate Bond Fund MPAM Short-Term U.S. Government Securities Fund MPAM Balanced Fund MPAM Mid Cap Stock Fund $11.51 MPAM Small Cap Stock Fund MPAM International Fund MPAM Emerging Markets Fund MPAM National Intermediate Municipal Bond Fund $17.84 MPAM National Short-Term Municipal Bond Fund MPAM Pennsylvania Intermediate Municipal Bond Fund

Open Account means any transaction, whether a single transaction

Open Account means an Account with an open balance.