Target Ledger Balance definition
Target Ledger Balance means the balance designated on a Target Balance Account Service Enrollment Form to be maintained in a Subsidiary Account at the close of business each Business Day.
Target Ledger Balance means Zero Dollars ($0.00), or such other dollar amount which the parties agree shall be the Target Ledger Balance that is to remain in the Operating Account as of the end of each Business Day.
Target Ledger Balance means $100,000, or such other dollar amount which the parties agree shall be the Target Ledger Balance that is to remain in the Operating Account as of the end of each Business Day. The Lender may (but will not be required to) reject an incoming wire transfer: (i) that does not contain the ▇▇▇▇▇ Fargo Payment Identification Code; (ii) if the Lender believes that the Borrower is not entitled to the wire transfer; (iii) if at the time the Lender received the wire transfer, the Revolving Advance facility has been terminated for any reason by the Lender of by the Borrower, or the Borrower has terminated its use of Ready Remit; or (iv) if at the time the Lender receives the wire transfer, the Lender is not permitted by law to accept wire transfers or other credits sent to the Borrower. The Lender shall undertake reasonable efforts to promptly notify the Borrower of any rejected incoming wire transfer. If the Lender uses Ready Remit, then payments received by wire transfer directly into the lender's general account shall be applied to Indebtedness advanced on the Revolving Note as provided herein, but the amount of principal paid shall continue to accrue interest through the end of the first Business Day following the Business Day that the payment was applied to the Revolving Note.
Examples of Target Ledger Balance in a sentence
If the Lender offers to make the Loan Manager service available to the Borrowers, and the Borrowers agree to utilize the Loan Manager service, then the Borrowers hereby authorize and direct the Lender, subject to Availability, to advance funds each Business Day in an amount sufficient to restore the Ledger Balance of the Operating Account to the Target Ledger Balance.
More Definitions of Target Ledger Balance
Target Ledger Balance means $100,000, or such other dollar amount which the parties agree shall be the Target Ledger Balance that is to remain in the Operating Account as of the end of each Business Day.