Adjustment of Daily Amount Sample Clauses

Adjustment of Daily Amount. The Daily Amount is intended to represent the Monthly Percentage of Merchant’s receivables each calendar month. Xxxxxxxx is responsible for ensuring that the Daily Amount continues to represent such percentage. In any instance in which Xxxxxxxx believes the Daily Amount should be adjusted up or down, because Merchant’s receivables have increased or decreased, then Merchant may request, and upon proper proof, Purchaser shall make, an adjustment of the Daily Amount (“Adjusted Daily Amount”). Such adjustment shall remain in effect for either 14 days or until the last day of the month in which it was requested, whichever is sooner. Thereafter, the Daily Amount will revert back to the amount stated on the front page of this Agreement, unless Merchant requests, and provides proper proof, that a continued adjustment is warranted. In order to provide proper proof to verify that an Adjusted Daily Amount is warranted, Merchant must provide Purchaser with full copies of monthly bank statements from all bank accounts, and any other statements evidencing customer receipts. If requested, Merchant must also permit Purchaser to conduct a site inspection of Merchant’s business, including an inspection of Merchant’s credit card terminals.
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Adjustment of Daily Amount. Customer is responsible for ensuring that the Daily Amount continues to result in Purchaser receiving an amount of Future Receipts each month that is approximately equal to the Monthly Percentage of Customer’s Future Receipts. If Customer believes that its actual Future Receipts have increased or decreased such that Purchaser will be receiving an amount of Future Receipts each month that varies from the Monthly Percentage of Customer’s Future Receipts, then Customer shall request an adjustment of the Daily Amount (“Adjusted Daily Amount”) and send to the Designated Email (reconciliation@forwardfinancing. com) full copies of monthly bank statements from all bank accounts, and any other statements evidencing customer receipts, for the prior three months. If requested, Customer must also permit Purchaser to conduct a site inspection of Customer’s business, including an inspection of Customer’s credit card terminals. Provided that the information provided by the Customer supports the requested Adjusted Daily Amount, Purchaser shall make the adjustment for a period of 14 days. Thereafter, the Daily Amount will revert back to the amount stated under the “KEY TERMS” section of this Agreement unless Customer provides the same information on a monthly basis and the information demonstrates that a continued adjustment is warranted.
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Related to Adjustment of Daily Amount

  • Adjustment of Settlement Rate (a) Adjustments for Dividends, Distributions, Stock Splits, Etc.

  • Adjustment to Interest Rate Changes to the interest rate of any Credit Extension based on changes to the Prime Rate shall be effective on the effective date of any change to the Prime Rate and to the extent of any such change.

  • Price Adjustment Civil works contracts of long duration (more than 18 months) shall contain an appropriate price adjustment clause.

  • Market Adjustment The parties to this Agreement recognize the appropriateness of market pay adjustments in rare instances for compelling reasons. To effectuate judgments in such cases, the President and AAUP Chapter President, in consultation, shall each name three (3) individuals to a university Market Evaluation Committee. Deans may submit recommendations for market pay adjustments with supporting written reasons to the Committee. Said Committee shall consult with the President concerning proposed market pay adjustments reporting its advice not later than May 15 in each year. Upon the favorable recommendation of the President and the BOR President, market pay adjustments may be approved effective at the beginning of that pay period including September 1 of the following year. Not more than one (1) market pay adjustment per one hundred (100) full-time members, or fraction thereof, may be recommended in any contract year. A member’s salary may not be increased beyond the maximum for the rank. Funding for this program shall be governed by Article 12.10.2.

  • ADJUSTMENT FACTORS The Contractor will perform any or all Tasks in the Construction Task Catalog for the Unit Price appearing therein multiplied by the following Adjustment Factors. See the General Terms and Conditions for additional information.

  • Adjustment Date 6 Advance.......................................................................6 Affiliate.....................................................................6 Agreement.....................................................................6

  • Adjustment Factor The Bidder’s competitively bid price adjustment to the unit prices published in the Construction Task Catalog®.

  • Year-End Adjustment If necessary, on or before the last day of the first month of each fiscal year, an adjustment payment shall be made by the appropriate party in order that the amount of the investment advisory fees waived or reduced and other payments remitted by the Adviser to the Fund or Funds with respect to the previous fiscal year shall equal the Excess Amount.

  • Purchase Price Credit Adjustments If on any day: (a) the Outstanding Balance of a Receivable purchased from any Originator is: (i) reduced as a result of any defective or rejected or returned goods or services, any cash discounts, any volume discounts or any adjustment or otherwise by such Originator or any Affiliate thereof (other than as a result of a charge-off of such Receivable or cash Collections applied to such Receivable), (ii) reduced or canceled as a result of a setoff in respect of any claim by any Person (whether such claim arises out of the same or a related transaction or an unrelated transaction), (iii) reduced on account of the obligation of such Originator or any Affiliate thereof to pay to the related Obligor any rebate or refund, or (iv) less on the date of its sale then the amount reflected in the applicable Purchase Report, or (b) any of the representations and warranties set forth in Sections 2.1(i), (j), (l), (r), (s), (t), (u) and the second sentence of Section 2.1(q) hereof is not true when made or deemed made with respect to any such Receivable, then, in such event, Buyer shall be entitled to a credit (each, a “Purchase Price Credit”) against the Purchase Price otherwise payable to the applicable Originator hereunder equal to (x) in the case of clauses (a)(i) – (iv) above, the amount of such reduction or cancellation or the difference between the actual Outstanding Balance and the amount reflected in the applicable Purchase Report, as applicable, and (y) in the case of clause (b) above, the amount of the Outstanding Balance of such Receivable, which shall be reconveyed by the Buyer to the applicable Originator following receipt of such amount. If such Purchase Price Credit exceeds the Original Balance of the Receivables originated by the applicable Originator on any day, such Originator shall pay the remaining amount of such Purchase Price Credit in cash immediately, provided that if the applicable Termination Date has not occurred, such Originator shall be allowed to deduct the remaining amount of such Purchase Price Credit from any indebtedness owed to it under its Subordinated Note.

  • CPI Adjustment At the end of the first Lease year (as hereinafter defined) and every Lease year thereafter (including any renewal periods) the Base Rental provided for in Paragraph 3 above shall be adjusted by adding to Base Rental the "Add-on Factor". The one (1) year periods are each hereinafter referred to as an "Adjustment Period". As used herein, the "Add- on Factor" shall mean the "Add-on Sum" minus "Net Base Rental"; "Add-on Sum" shall mean a sum determined by multiplying the "Net Base Rental" by the "Adjustment Factor"; "Net Base Rental" shall mean the Base Rental described above minus Initial Basic Cost, and "Adjustment Factor" shall mean a fraction, the numerator of which is the "CPI" published immediately preceding the applicable anniversary date and the denominator of which is the "CPI" published immediately preceding the commencement date of the term of this Lease. "CPI" shall mean the United States Average (1982-84 '" 100), as published bi-monthly (or if the same shall no longer be published bi-monthly, on the most frequent basis available) by the Bureau of Labor Statistics, U.S. Department of Labor (but if such is subject to adjustment later, the later adjusted index shall be used). The Adjusted Rental shall be the new Base Rental of the Premises effective as of the first day of the applicable Adjustment Period. Notwithstanding the foregoing calculation, the yearly percentage rent adjustment pursuant to this Paragraph 9 shall in no event be less than FIVE percent (5%) per year. Tenant shall continue payment of the Base Rental in effect for the expiring Adjustment Period until notified by Landlord of any increase in such Base Rental. Such notification shall include a memorandum showing the calculations used by Landlord in determining the new Base Rental. On the first day of the calendar month immediately succeeding receipt of such notice, Tenant shall commence payment of the new Base Rental spedfied in the notice, and shall also pay to Landlord with respect to the month(s) already expired, the excess of the required monthly rentals spedfied in the notice over the monthly amounts actually paid by Tenant.

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