Contract Balance definition

Contract Balance means the amount calculated pursuant to Section 3.1.
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Contract Balance means an amount equal to the annual base salary and car allowance that Executive would have earned from the Company had Executive continued his employment from the date the Executive's employment terminated through the Expiration Date (i.e., base salary and car allowance for two (2) years), using the rate of base salary and the car allowance in effect on the date on which the Executive received or gave written notice of his termination, plus an amount equal to two (2) times the sum of (i) an amount equal to the average of the Executive's two (2) most recent annual bonuses, if any, received under the Company's Incentive Compensation Plan prior to such notice of termination, and (ii) an amount determined by the Company from time to time in its sole discretion to be equal to the average annual cost for Company employees of obtaining medical, dental and vision insurance under COBRA, which annual amount is hereby initially determined to be $10,000.
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Contract Balance means, with respect to the 1995-1 Transaction and the 1996-1 Transaction, the "Outstanding Principal Balance" as defined therein as of the date the related Underlying Transaction, respectively, closed; and, with respect to the 1997-1 Transaction, the 1998-1 Transaction and the 1999-1 Transaction, the "Principal Balance", as defined therein as of the date the related Underlying Transaction, respectively, closed, of any Contract.
Sample 1

Examples of Contract Balance in a sentence

  • For purposes of this provision, the Contract Balance is defined as the total amount payable by City to Contractor as the Contract Price minus amounts already paid to Contractor, and minus any liquidated damages, credits, or backcharges to which City is entitled under the terms of the Contract.

  • Upon making a demand on this Bond, City will make the Contract Balance available to Surety for completion of the Work under the Contract.

  • Upon making a demand on this Bond for completion of the Work prior to acceptance of the Project, City will make the Contract Balance available to Surety for completion of the Work under the Contract.

  • In connection with the substitution of a Contract, if the Discounted Contract Balance of such Substitute Contract is less than the Discounted Contract Balance of the Predecessor Contract, the Contributor shall, on the date of substitution, deposit an amount equal to such difference into the Collection Account.

  • The Contractholder may direct TLIC to apply the entire Contract Balance to provide each Participant with an annuity pursuant to Article 5.

  • Each annual installment will be in an amount determined by dividing the then remaining Contract Balance by the number of installment payments remaining to be paid.

  • Therefore, the portion of the Contract Balance attributable to a Participant’s post-1986 Participant Account balance, to which the rules apply, includes earnings on Contributions made before January 1, 1987, Contributions made after December 31, 1986, and earnings thereon.

  • The Notes may be redeemed by the Issuer, in whole but not in part, at the Redemption Price on any Payment Date on which the Pool A Aggregate Discounted Contract Balance is less than 10% of the Pool A Aggregate Discounted Contract Balance as of the Closing Date and the Pool B Aggregate Discounted Contract Balance is less than 20% of the Pool B Aggregate Discounted Contract Balance as of the Closing Date.

  • Such interest will: (i) be computed based on a 360 day year; (ii) be calculated each day by multiplying the Daily Rate (as defined below) by the Daily Contract Balance (as defined below); and (iii) accrue from the date that DFS authorizes any Electronic Transfer (as defined in Section 3.10 herein) or otherwise makes an advance under the Accounts Receivable Facility until DFS receives the full and final payment of the principal debt which Dealer owes to DFS, subject to the terms of Section 3.8 herein.

  • Dealer agrees to pay interest to DFS on the Daily Contract Balance at a rate equal to the Prime Rate minus one-half of one percent (0.5%) per annum.


More Definitions of Contract Balance

Contract Balance means an amount equal to the annual base salary that the Executive would have earned from the Company had the Executive continued his employment from the date the Executive’s employment terminated through the Expiration Date (i.e., base salary for two (2) years), using the rate of base salary in effect on the date on which the Executive received or gave written notice of his termination, plus an amount equal to two (2) times the sum of (i) an amount equal to the average of the annual bonuses with respect to the Company’s two (2) most recently completed fiscal years, if any, determined to be payable and/or paid to the Executive under the Company’s the Executive Bonus Plan (or comparable bonus plan) prior to such notice of termination, and (ii) an amount determined by the Company from time to time in its sole discretion to be equal to the annual cost for the Executive of obtaining medical, dental and vision insurance under COBRA, which annual amount is hereby initially estimated to be $20,000.
Sample 1
Contract Balance means an amount equal to the annual base salary that the Executive would have earned from the Company had the Executive continued his employment from the date the Executive’s employment terminated through the Expiration Date (i.e., base salary for two (2) years), using the rate of base salary in effect on the date on which the Executive received or gave written notice of his termination (but without regard to any reduction in base salary constituting Good Reason), plus an amount equal to two (2) times the sum of (i) an amount equal to the average of the annual bonuses with respect to the Company’s two (2) most recently completed fiscal years, if any, determined to be payable and/or paid to the Executive under the Company’s Executive Bonus Plan (or comparable bonus plan) prior to such notice of termination, and (ii) an amount determined by the Company from time to time in its sole discretion to be equal to the annual cost for the Executive of obtaining medical, dental and vision insurance under COBRA, which annual amount is hereby initially estimated to be $20,000. For purposes of calculating Contract Balance under this Agreement in the event the Executive has been employed by the Company for a period which does not include two full annual bonus cycles, the average of the annual bonuses described in clause (i) above shall be deemed to be equal to (x) if clause (y) below does not apply, the Executive’s target bonus for the year of termination or (y) in the event that the Executive has been employed for a period which includes one (but not two) full annual bonus cycles prior to the termination of employment, the average of the earned annual bonus for the full bonus cycle during the Executive’s employment plus the Executive’s target bonus for the year of termination.
Sample 1
Contract Balance means, as of the applicable date of calculation (a) with respect to any Lease Contract, an amount equal to the sum of all due but uncollected scheduled Periodic Payments (including any balloon payments or mandatory final payments to the extent due thereunder), less income to be amortized over the remaining lease term, and (b) with respect to a Loan Contract, an amount equal to the sum of the outstanding principal balance of the obligations and all accrued and unpaid interest and all other amounts due under the related Loan Documentation, together with, in either case, any amounts due as reimbursement of costs and expenses and indemnity payments.
Sample 1

Related to Contract Balance

  • Asset Balance means, for any Payment Date, the Pool Balance as of the beginning of the current Collection Period.

  • Debit Balance means, as of any date, the dollar amount, if any, representing each of: (1) the aggregate Annual Charge, accrued in accordance with Section 3.4(g)(i); and (2) any Leveraged Principal Amount (together with any pro rata Interest Amounts determined in accordance with Section 3.4(g)(ii), if applicable), as reduced by any distributions recorded from ML Ventures Units recorded in a Participant’s Account in accordance with Section 3.4(e).

  • Unpaid Balance of any Receivable means at any time the unpaid principal amount thereof.

  • Target Balance has the meaning set forth in Section 6.1I(1) hereof.

  • New Balance This means the total outstanding balance on your account. It will be listed on each statement as the “New Balance”.

  • Credit Balance means the funds remaining and due to a Student after such Student’s loans and other financial aid remittances, including but not limited to Title IV Higher Education Act program funds, have been credited to the Student’s account at School.

  • Legal Balance means the amount of indebtedness legally owed by an Obligor with respect to a Loan, including principal and accrued and unpaid interest, late fees, attorneys' fees and expenses, taxes, insurance premiums, and similar charges, if any.

  • Component Balance With respect to any Component and any Distribution Date, the Initial Component Balance thereof on the Closing Date, (A) plus any increase in the Component Balance of such Component pursuant to Section 4.02 due to the receipt of Subsequent Recoveries, (B) minus the sum of all amounts applied in reduction of the principal balance of such Component and Realized Losses allocated thereto on previous Distribution Dates.

  • Class Balance With respect to any Class of Certificates, at any time, the aggregate of the

  • Current Balance in relation to a Loan at any relevant date, means the aggregate principal balance of the Loan at such date (but avoiding double counting) including the following:

  • Total Contract Value means contract value plus statutory dues like GST etc. and any other amount payable under contract.

  • Scheduled Balance Not applicable.

  • Pool Balance means, as of any date, the aggregate Principal Balance of the Receivables (exclusive of all Administrative Receivables for which the Servicer has paid the Administrative Purchase Payment, Warranty Receivables for which the Seller has paid the Warranty Purchase Payment and Defaulted Receivables) as of the close of business on such date.

  • Original Balance means, with respect to any Receivable coming into existence after the Initial Cutoff Date, the Outstanding Balance of such Receivable on the date it was created.

  • Account Balance means, with respect to a Participant, an entry on the records of the Employer equal to the sum of (i) the Deferral Account balance, (ii) the Company Contribution Account balance, and (iii) the Company Restoration Matching Account balance. The Account Balance shall be a bookkeeping entry only and shall be utilized solely as a device for the measurement and determination of the amounts to be paid to a Participant, or his or her designated Beneficiary, pursuant to this Plan.

  • Loan Group Balance As to each Loan Group, the aggregate of the Stated Principal Balances of the Mortgage Loans in such Loan Group that were Outstanding Mortgage Loans at the time of determination.

  • Lease Balance means, as of any date of determination, the sum of (a) the Equity Balance (if same has not been paid as of such date)

  • Class X Notional Balance With respect to any Distribution Date (and the related Accrual Period) the aggregate principal balance of the regular interests in REMIC 3 as specified in the Preliminary Statement hereto.

  • Scheduled Balances Not applicable.

  • Time balance means the sum of the principal amount financed and the finance charge.

  • Fund balance is the value of the Accumulation Fund, determined pursuant to Section 1.4.

  • Average Contract Value means the higher of (inclusive of carbon tax but exclusive of goods and services tax) the (i) average of the total amount payable by the Consumer to the Retailer based on the average electricity consumption of three (3) months (before the date of termination) or (ii) the total amount payable by the Consumer to the Retailer based on the Declared Monthly Consumption.

  • Initial Component Balance As specified in the Preliminary Statement.

  • Vapor balance system means a combination of pipes or hoses which create a closed system between the vapor spaces of an unloading tank and a receiving tank such that vapors displaced from the receiving tank are transferred to the tank being unloaded.

  • Annual Contract Value or “ACV” means the net subscription fee for one (1) year as defined in the Order Form for a specific Customer.

  • Planned Balance Not applicable.