Charged Account definition
Examples of Charged Account in a sentence
Further, except as otherwise provided in subsection (a)(vi) the amount of any payment or benefit provided for by this Section shall not be reduced by any compensation earned by the Executive as the result of employment by another employer, retirement benefits, by offset against any amount claimed to be owed by the Executive to the Company, or otherwise.
This deferral will only apply, however, if the Borrower deposits in the Charged Account an amount equal to the amount which it would otherwise have been obliged to repay (save to the extent the prepayment obligation will be discharged by an amount already standing to the credit of the Charged Account).
Amounts standing to the credit of the Charged Account shall bear interest at a rate considered by the Account Bank (acting reasonably) to be a fair market rate.
Company, at its option shall have the right to perform or expend any reasonable amount required to cure default and seek reimbursement or rental credits for actual expenses expended to cure such breach, upon Company first giving written notice to Authority of its intent to do so.
All payments to be made by the Borrower to the Lenders shall be made by 14:00 p.m. on the relevant date of payment in same day funds by the Borrower to the Borrower Charged Account.