Funds Employed definition

Funds Employed means the cumulative uncollected balance of the Purchase Price of all outstanding Purchased Accounts (which are not Closed) minus the balance in the Reserve Account.
Funds Employed means gross Factored Accounts outstanding on Factor's books less any balance outstanding in the Reserve Account to the credit of Company.
Funds Employed as used herein, shall mean the aggregate amount of all outstanding Advances, Discounts, interest, fees, expenses and other indebtedness, liabilities and obligations owing by Seller to Greystone from time to time under this Agreement. All Funds Employed owing from time to time shall be due and payable by Seller on demand by Greystone. (b)

Examples of Funds Employed in a sentence

  • Discount Fee Rate: Seller shall pay a discount rate to Purchaser on the Funds Employed at a variable per annum rate equal to the LIBOR Rate plus 7.0000% (the “Discount Fee Rate”).

  • The Performance Condition for Options will be RoAFE, or Return on Average Funds Employed.

  • The Non-Utilisation Fee shall be calculated in accordance with the following formula: N% X F = NUF where: N% is the Non-Utilisation Fee Percentage F is the amount by which average Funds in Use during any calendar month are less than Net Funds Employed.

  • If the Reserve Account should show a debit balance, such debit balance shall be added to gross Accounts Receivable outstanding in determining Funds Employed.

  • Seller shall pay a discount rate to Purchaser on the Funds Employed at a variable per annum rate equal to the LIBOR Rate plus 4.5000% (the “Discount Fee Rate”).

  • All Funds Employed owing from time to time shall be due and payable by Seller on demand by Greystone.

  • Seller agrees to pay Greystone a facility fee equal to .50% of any increase in the Maximum Funds Employed, payable concurrently with any such increase.

  • The “Final Purchase Price” shall be equal to (a) the Final Closing Net Funds Employed plus (b) the Closing Premium plus (c) the Final Foreign Cash Amount plus (d) the Final Prepaids Amount minus (e) the Estimated Total Post-Closing Bonus Payment.

  • If average daily Funds Employed reflect a credit balance, Factor shall credit the Reserve Account, as of the last day of the month, with interest on such average daily credit balance at a rate equal to three percent below the Prime Rate.

  • If average daily Funds Employed reflect a credit balance, Factor shall credit the Reserve Account, as of the last day of the month, with interest on such average daily credit balance at a rate equal to three percent below the Governing Rate.


More Definitions of Funds Employed

Funds Employed means gross Accounts Receivable outstanding on Factor's books less any balance outstanding in the Reserve Account to the credit of Client. If the Reserve Account should show a debit balance, such debit balance shall be added to gross Accounts Receivable outstanding in determining Funds Employed. "Index Rate" shall mean the latest rate for 30-day dealer placed commercial paper (which for purposes hereof shall mean high grade unsecured notes sold through dealers by major corporations in multiples of $1,000), which normally is published in the "Money Rates" section of The Wall Street Journal (or if such rate ceases to be so published, as quoted from such other generally available and recognizable source as Lender may select). The Index Rate shall be determined (i) on the first business day immediately prior to the Closing Date and (ii) thereafter, on the last business day of each calendar month for calculation of interest for the following month. Interest will be calculated on a daily basis (computed on the actual number of days elapsed over a year of three hundred sixty (360) days) and shall be charged to the Reserve Account as of the last day of each month. If average daily Funds Employed reflect a credit balance, Factor shall credit the Reserve Account, as of the last day of the month, with interest on such average daily credit balance at a rate equal to three percent below the Governing Rate. The applicable Governing Rate for the balance of the calendar month during which this Agreement becomes effective shall be based on the Index Rate in effect on the last day of the month preceding the date of this Agreement and the applicable Governing Rate for each month thereafter shall be based on the Index Rate in effect on the last day of the preceding calendar month. On computing interest payable by Client under this Agreement and any supplement hereto, all Customer checks and other payments received by Factor shall be deemed applied to the Obligations two business days after the date of Factor's receipt.
Funds Employed. (meaning that the balance of the Unpaid Receivables Account exceeds the balance of the Reserve Account), then Client shall pay interest upon the average daily Funds Employed at the close of business each day at a per annum rate equal to (a) one percent (1%) over the Prime Rate or (b) five percent (5%), whichever is greater; PROVIDED, HOWEVER, that if an Event of Default (defined below) has occurred and is continuing, such interest rate shall be increased by three percent (3%) until such Event of Default is cured or waived by Factor. The "PRIME RATE" shall be defined as the per annum prime interest rate which normally is published in the "MONEY RATES" section of THE WALL STREET JOURNAL (or if such rate ceases to be published, as quoted from such other generally available and recognizable source as Factor may select). Interest shall be calculated on a daily basis (computed on the actual number of days elapsed over a year of three hundred sixty (360) days) and shall be charged to the Reserve Account as of the last day of each month. For the purpose of computing interest payable by Client under this Agreement and any supplement hereto, all customer checks and other payments received by Factor shall be deemed applied to the Obligations three (3) business days after being credited to Client consistent with the provisions of Section 10 of this Agreement.
Funds Employed means at any time the amount by which the balance of the Unpaid Receivables Account exceeds the balance of the Reserve Account. If the Reserve Account should show a debit balance, such debit balance shall be added to the balance of the Unpaid Receivables Account in determining Funds Employed. The "Index Rate" shall mean the latest rate for 30-day dealer placed commercial paper (which for purposes hereof shall mean high grade unsecured notes sold through dealers by major corporations in multiples of $1,000), which normally is published in the "Money Rates" section of The Wall Street Journal (or if such rate ceases to be published, as quoted from such other generally available and recognizable source as Factor may select). The Index Rate shall be determined (i) on the first business day immediately prior to the Effective Date (defined in Section 18 below) and (ii) thereafter, on the last business day of each calendar month for calculation of interest for the following month. Interest shall be calculated on a daily basis (computed on the actual number of days elapsed over a year of three hundred sixty (360) days) and shall be charged to the Reserve Account as of the last day of each month. For the purpose of computing interest payable by Client under this Agreement and any supplement hereto, all customer checks and other payments received by Factor shall be deemed applied to the Obligations two (2) calendar days after being credited to Client consistent with the provisions of Section 10 of this Agreement.
Funds Employed means as of any date of determination the sum of (a) the
Funds Employed. (i.e. gross accounts receivable outstanding on Factor's books less any balance outstanding in the Reserve Account to the credit of Client, or plus any debit balance in the Reserve Account as the case may be) shall not exceed $N/A without Factor's express written approval.
Funds Employed shall be defined as gross accounts receivable outstanding on Factor's books less any balance outstanding in the Reserve Account to the credit of Client. (If the Reserve Account should show a debit balance, such debit balance shall be added to gross accounts receivable outstanding in determining Funds Employed.) Prime Rate shall mean the published prime commercial loan interest rate charged by the First Union National Bank of North Carolina. Interest will be calculated on a daily basis (computed on the actual number of days elapsed over a year of 360 days) and shall be charged to Client's Reserve Account as of the last day of each month. If average daily Funds Employed reflect a credit balance, Factor shall credit Client's Reserve Account, as of the last day of the month, with interest on such average daily credit balance at a rate equal to three percent (3%) below the Prime Rate. In computing interest, all customer checks received by Factor shall be subject to bank clearance of three business days from the date of deposit.

Related to Funds Employed

  • Self-employed INDIVIDUAL Means an individual who has Earned Income for the taxable year from the trade or business for which the Plan is established; also, an individual who would have had Earned Income but for the fact that the trade or business had no net profits for the taxable year.

  • Surplus Employee is an employee who has been given notice of termination/layoff by the Company or an employee who may be displaced or who is displaced from his/her position.

  • Employed shall have their correlative meanings. The Committee in its sole discretion may determine (i) whether and when a Grantee’s leave of absence results in a termination of Employment (for this purpose, unless the Committee determines otherwise, a Grantee shall be treated as terminating Employment with the Firm upon the occurrence of an Extended Absence), (ii) whether and when a change in a Grantee’s association with the Firm results in a termination of Employment and (iii) the impact, if any, of any such leave of absence or change in association on Awards theretofore made. Unless expressly provided otherwise, any references in the Plan or any Award Agreement to a Grantee’s Employment being terminated shall include both voluntary and involuntary terminations.

  • Excluded Employee means an employee as defined in section 3527, subd. (b) of the Government Code (Ralph C. Dills Act) except those excluded employees who are designated managerial pursuant to section 18801.1 of the Government Code.

  • U.S. Employee means a person who is an employee of the Company (or of any Subsidiary) for purposes of section 422 of the Code.

  • Regularly employed means, with respect to an officer or employee of a person requesting or receiving a Federal contract, an officer or employee who is employed by such person for at least 130 working days within 1 year immediately preceding the date of the submission that initiates agency consideration of such person for receipt of such contract. An officer or employee who is employed by such person for less than 130 working days within 1 year immediately preceding the date of the submission that initiates agency consideration of such person shall be considered to be regularly employed as soon as he or she is employed by such person for 130 working days.

  • Gainfully employed means employed or self-employed;

  • Active Employee means a contributing member of the TRS who is employed by a public school and is not entitled to coverage under a plan provided under Insurance Code Chapter 1551 (Texas Em- ployees Group Benefits Act) or 1601 (State University Employees Uniform Insurance Benefits Act).

  • SpinCo Employee means any individual who, as of the Effective Time, is employed by or will be employed by Spinco or any member of the Spinco Group, including active employees and employees on vacation and approved leave of absence (including maternity, paternity, family, sick leave, qualified military service under the Uniformed Services Employment and Reemployment Rights Act of 1994, short- or long-term disability leave, leave under the Family Medical Leave Act and other approved leave).

  • Regular Employee is one who works on a full-time or part-time basis on regularly scheduled shifts of a continuing nature:

  • Continuing Employee has the meaning set forth in Section 6.7(a).

  • Relevant Employee means the Previous Contractor Employees, the Previous Contractor Third Party Employees and Previous Contractor Sub-contractor Employees;

  • Public employee means an individual holding a position by appointment or employment in the government of this state, in the government of 1 or more of the political subdivisions of this state, in the public school service, in a public or special district, in the service of an authority, commission, or board, or in any other branch of the public service, subject to the following exceptions:

  • Transferred Employee has the meaning set forth in Section 6.01(a).

  • Postponed Retirement Date means the first day of the month coincident with or next following a Participant’s date of actual retirement which occurs after his Normal Retirement Date.

  • Administrative employee means an employee who normally supervises persons engaged in office administration, construction, security or maintenance work who are represented by another trade union. This definition includes employees who share a community of interest with “supervisors”.

  • Designated Employee means an employee who has been designated by the school to receive complaints of hazing, harassment and bullying pursuant to subdivision 16 V.S.A. 570a(a)(7). The designated employees for each school building are identified in Appendix A of this policy.

  • Current Employee has the meaning set forth in Section 7.8(a).

  • Inactive Employee means an employee who is not actively at work due to approved leave of absence, short-term disability leave or military leave.

  • Senior Employee means a person who, at any time during the last twelve months of Executive’s period of employment hereunder:

  • Active Employment means you must be actively at work for the Sponsor:

  • Gainful employment means paid employment for not less than 30 hours in each week for a period of not less than 12 months;

  • Hired Employee has the meaning set forth in Section 6.1.6.

  • Junior Employee means an employee under the age of nineteen years, who is in receipt of less than the prescribed adult rate of wage.

  • Retained Employee does not include any individual who has a direct or an indirect ownership interest of at least five percent (5%) in the profits, equity, capital, or value of the Taxpayer, or a child, grandchild, parent, or spouse, other than a spouse who is legally separated from the individual, of any individual who has direct or indirect ownership interest of at least five percent (5%) of the profits, equity, capital or value of the Company.

  • Salaried Employee means an employee who is not covered by the Fair Labor Standards Act who regularly receives each pay period a predetermined amount constituting all or part of compensation. This base salary cannot be reduced because of variations in the quality or quantity of work performed.