Available Credit Balance definition

Available Credit Balance means, in relation to an Ancillary Facility, credit balances on any account of any Borrower of that Ancillary Facility with the Ancillary Lender making available that Ancillary Facility to the extent that those credit balances are freely available to be set off by that Ancillary Lender against liabilities owed to it by that Borrower under that Ancillary Facility.

Available Credit Balance means, in relation to an Ancillary Facility, credit balances on any account of any Borrower of that Ancillary Facility with the Ancillary Facility Lender making available that Ancillary Facility to the extent that those credit balances are freely available to be set off by that Ancillary Facility Lender against liabilities owed to it by that Borrower under that Ancillary Facility.

Available Credit Balance in relation to the Card Account means the amount by which the Credit Balance exceeds the aggregate of:

Examples of Available Credit Balance in a sentence

• Bank reserves the right to hold any payment that is intended to create or add to Organization’s Available Credit Balance unless and until Bank is satisfied that the payment was both made from a Commercial DDA and has cleared.

• From time to time, Bank may permit Organization to make a payment that creates or adds to Organization’s available Card Program credit balance (“Available Credit Balance”); this functionality may be referred to as “Overpay” or “Relay.” Nevertheless, Bank, in its sole and absolute discretion, may: (1) reject and return any payment (from any source) that is intended to create or add to Organization’s Available Credit Balance; and (2) not increase Organization’s Available Credit Balance.

• Organization understands and acknowledges that no interest can or shall be earned on any funds or payments that create or add to Organization’s Available Credit Balance.

• Bank will reduce the amount of Organization’s Available Credit Balance to the extent Organization incurs any new charges, Transactions, fees, or other amounts due Bank for any reason under the Agreement.

More Definitions of Available Credit Balance

Available Credit Balance in relation to the Account means the amount by which the Credit Balance exceeds the aggregate of:

Available Credit Balance means in respect of Your Facility Account, the difference between:

Available Credit Balance means in respect of a Linked Facility Account which is a Premium or Premium Deluxe Loan account, the difference between:

Available Credit Balance means, in relation to an Ancillary Facility, credit balances on any account of any Borrower of