Average Monthly Balance means, with respect to any Indebtedness incurred by the Issuer or its Restricted Subsidiaries under a revolving credit facility, the quotient of (x) the sum of each Individual Monthly Balance for each fiscal month ended on or prior to such date of determination and included in the Reference Period divided by (y) 12, and (c) “Individual Monthly Balance” means, with respect to any Indebtedness incurred by the Issuer or its Restricted Subsidiaries under a revolving credit facility during any fiscal month of the Issuer, the quotient of (x) the sum of the aggregate outstanding principal amount of all such Indebtedness at the end of each day of such fiscal month divided by (y) the number of days in such fiscal month.
Average Monthly Balance means, with respect to any Indebtedness incurred by the Issuer or its Restricted Subsidiaries under a revolving facility, the quotient of (x) the sum of each Individual Monthly Balance for each fiscal month ended on or prior to such date of determination and included in the Reference Period divided by (y) 12, and (c) “Individual Monthly Balance” means, with respect to any Indebtedness incurred by the Issuer or its Restricted Subsidiaries under a revolving credit facility during any fiscal month of the Issuer, the quotient of (x) the sum of the aggregate outstanding principal amount of all such Indebtedness at the end of each day of such fiscal month divided by (y) the number of days in such fiscal month.
Average Monthly Balance shall be calculated monthly by adding together the daily aggregate unpaid principal balance of all Pending mortgage loans and pools of mortgage loans under all Early Funding Agreements in the aggregate, with that sum divided by the number of days in such month. The Average Monthly Balance shall be calculated by Xxxxxx Mae using data from Xxxxxx Mae’s internal systems for tracking early funding transactions. The data from these internal systems will be conclusive and binding upon PHH and Xxxxxx Mae, absent manifest error.
Examples of Average Monthly Balance in a sentence
Average monthly balance is defined as the average of each day-end balance for the month.
The credit union’s total assets measured by the average of quarter-end balances of the current and three preceding calendar quarters;(2) Average monthly balance.
Gross credit exposure before credit risk mitigation * Average monthly balance represents the average of the sum of twelve-month end balance for the year ended 31 December 2020.
Average monthly balance of short term debt for the test year and the most recently available twelve (12) month period, and the utility's current cost for short term debt.
The credit union’s total assets measured by the average of quarter-end balances of the current and three preceding cal- endar quarters;(ii) Average monthly balance.
More Definitions of Average Monthly Balance
Average Monthly Balance means the amount derived from adding the ending outstanding balance under the Revolving Line for each day in the month and dividing by the number of days in the month.
Average Monthly Balance means, with respect to any Indebtedness incurred by the Issuer or the Restricted Subsidiaries under a revolving credit facility, the quotient of (i) the sum of each Individual Monthly Balance for each fiscal month ended on or prior to the relevant date of determination and included in the applicable Reference Period divided by (ii) 12.
Average Monthly Balance means the average
Average Monthly Balance means the average monthly balance of public deposits held by the depository during any 12 calendar months. The average monthly balance of the previous 12 calendar months shall be determined by adding the average daily balance for the reported month and the average daily balances for the 11 months preceding that month and dividing the total by 12.
Average Monthly Balance means, as of any date of determination, with respect to any Indebtedness of the Borrower and/or its Restricted Subsidiaries under a revolving credit facility, the quotient of (a) the sum of each Individual Monthly Balance for each fiscal month ended on or prior to such date of determination and included in the Relevant Reference Period divided by (b) 12; provided that (i) if any Indebtedness under a revolving credit facility is incurred during the Relevant Reference Period ended on or prior to such date of determination to finance an Acquisition, an Investment or any other Restricted Payment (which incurrence shall be notified to the Administrative Agent as required by Section 6.02(h)), each Individual Monthly Balance for a fiscal month included in such Relevant Reference Period and ended prior to the date of the respective incurrence of such Indebtedness shall be increased by the aggregate principal amount of all such Indebtedness incurred to finance such Acquisition, Investment or Restricted Payment, as the case may be, and the Average Monthly Balance shall be calculated using each such Individual Monthly Balance as so increased and (ii) if any Indebtedness under a revolving credit facility is repaid with the net cash proceeds of a Material Disposition during the Relevant Reference Period ended on or prior to such date of determination (and is notified to the Administrative Agent pursuant to a certificate delivered pursuant to Section 6.02(h)), each Individual Monthly Balance for a fiscal month included in such Relevant Reference Period and ended prior to the date of the respective repayment of such Indebtedness shall be decreased by the aggregate principal amount of such Indebtedness so repaid (it being understood that a notice delivered in good faith by a Responsible Officer of the Borrower pursuant to Section 6.02(h), and any judgment made in good faith by a Responsible Officer of the Borrower that no notice is required to be delivered pursuant to the terms of Section 6.02(h) in connection with a given incurrence or repayment of Indebtedness under a revolving credit facility (e.g., because proceeds of a revolving credit facility are not then being applied to finance an Acquisition, Investment or other Restricted Payment), shall be conclusive for purposes of any determination of an increase or decrease of the Average Monthly Balance pursuant to this proviso).
Average Monthly Balance means the average monthly balance of public deposits held, before deducting deposit insurance, by the depository during any 12 calendar months. The average monthly balance of the previ- ous 12 calendar months must be determined by adding the average daily balance before deducting deposit insurance for the reported month and the average daily balances before deducting deposit insurance for the 11 months preceding that month and dividing the total by 12.
Average Monthly Balance means the summation of each day-end balance in Emirates NBD Skywards Savings Account for each month divided by the number of calendar days for that month