Target Balance. The Target Balance shall designated by Customer.
Target Balance. As used herein “Target balance” means the collected balance amount designated by Customer from time to time as a threshold balance to remain in Customer’s Account(s) , and which shall not be invested in any of the Commercial Sweep Services investment options.
Target Balance. The target balance to be maintained on the Debt Service Reserve Account prior to the First Repayment Date is EUR 57 million and thereafter such amount as is sufficient to service the amounts due and payable under the Facility during the following twelve (12) months, taking into consideration any amounts held in USD in accordance with Clause 11.5 (Currency) (the “Target Balance”). Any balance on the Equity Reserve Account from time to time will count towards the Target Balance. The Debt Service Reserve Account will be funded through
Target Balance. For purposes of this Agreement, the “Target Balance” shall mean a collected balance in the Account, of which the amount shall be listed on the Application, after the posting of all debits and credits to Company’s Account at the end of any Banking Day. The Target Balance may be modified by subsequent agreement between the parties from time to time and such modified amount shall thereafter be deemed to be the Target Balance. Authorized Automatic Transfers. Company hereby authorizes Bank to make transfers on behalf of Company between the Account and the Revolving Line during the term of this Agreement as follows: If, at the end of any Banking Day after completion of posting of all debits and credits to the Account, the collected balance therein shall be: Less than the Target Balance, then Bank is hereby authorized and directed to make an advance under the Revolving Line and transfer to the Account such funds as are required to cause the collected balance in the Account to equal the Target Balance; or In excess of the Target Balance, then Bank is hereby authorized and directed to transfer from the Account such funds as are required to cause the collected balance in the Account to equal the Target Balance and to apply such transferred funds to reduce the outstanding principal balance of the Revolving Line. Company acknowledges and agrees that any advance shall be limited to the maximum amount of credit available to the Company under the Revolving Line. WIRE TRANSFER SERVICES. Definitions. In addition to the defined terms in Part I above, the following terms will have the following meanings as used in this Subpart.
