Accrued Balance definition
Examples of Accrued Balance in a sentence
Recipient may elect to redeem the Note and pay the Accrued Balance, in whole or in part (whether by stated maturity, by acceleration or otherwise) without penalty or premium, subject to providing MLSC with thirty (30) days’ written notice of proposed redemption.
Borrower shall pay to Lender on the Maturity Date the Outstanding Principal Balance (including the Accrued Balance), all interest which has accrued through and including the Maturity Date, the Repayment Premium, if any, and all other amounts due hereunder and under the Note, the Pledge Agreement, the TL Participation Agreement and the other Loan Documents.
Employees may accrue annual vacation credits to an amount not to exceed the Maximum Accrued Balance as set forth Exhibit “B.” Permanent Employees who leave City employment in good standing, and who are subsequently rehired within twenty-four (24) months of their termination date, shall have their prior City service counted in determining length of service for vacation accrual.
Employees shall cease to accrue additional vacation when their accumulated vacation leave balance is equal to the Maximum Accrued Balance identified for their accrual rate, as set forth in Exhibit “D.” Accrual shall commence again when the balance drops below the maximum.
If the Executive shall continue in the employment of the Bank until December 31, 2016, the Bank agrees upon such retirement that it will pay to the Executive the total Accrued Balance of $188,563.00, plus interest at the rate of 5 percent per annum in accordance with Exhibit A, payable to Executive in equal monthly payments of $2,000.00 each, commencing on the 31st day of January, 2017, and on the last day of each consecutive month thereafter, with a final payment paid on December 31, 2027.
All Rent (other than Supplemental Rent payable to Persons other than Lessor, which shall be payable to such other Persons in accordance with written instructions furnished to Lessee by such Persons) and the Prior Accrued Balance and interest thereon shall be paid by Lessee to Lessor at such address or account in the United States as may be designated in writing by Lessor to Lessee from time to time.
The benefit under this Section 2.2 is the vested amount, determined in accordance with the schedule set forth in Section 2.2.2, of the Accrued Balance, determined as of the date of the Executive’s Termination of Employment.
The foregoing provision shall be applicable for so long as any Accrued Balance is outstanding on the Note.
The Early Termination Annual Benefit amount is determined by calculating a fixed annuity which is payable in 15 annual equal installments, crediting interest on the unpaid balance of the Accrued Balance at an annual rate of 9 percent, compounded monthly.
Lessee may prepay, in whole or in part, the Prior Accrued Balance along with any accrued and unpaid interest thereon, without any penalty or premium.