Annual Balance Clause Samples

Annual Balance. If Project Manager Costs over the course of a 12-month funding period are less than the $150,000 annual deposit, then the remaining balance at the end of the 12-month period will be credited against the $150,000 deposit for the following 12-month period. For example, if in the first 12 months of this MOU, Project Manager Costs total $130,000, then the $20,000 remaining Deposit balance will be credited against the second-year deposit, and PacifiCorp would only be required to pay an additional $130,000 for the second 12-month period.
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Related to Annual Balance

  • Principal Balance Each Receivable had a remaining Principal Balance as of the Cutoff Date of not less than $500.

  • Remaining Principal Balance At the Cutoff Date the Principal Balance of each Receivable set forth in the Schedule of Receivables is true and accurate in all material respects.

  • Outstanding Principal Balance Each Receivable has an outstanding principal balance of at least $500.

  • Original Class B Principal Balance The Original Class B Principal Balance is $7,500,485.88.

  • Minimum Balance ▇▇▇▇▇▇▇▇ agrees to maintain a minimum balance of funds in the Settlement Account as Processor may specify to Merchant in writing from time to time.