Contract Balance definition

Contract Balance means the amount calculated pursuant to Section 4.1.

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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.

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 and the 1998-1 Transaction, the "Principal Balance", as defined therein as of the date the related Underlying Transaction, respectively, closed, of any Contract.

Examples of Contract Balance in a sentence

• 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.

• 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.

• 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.

• 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.

• 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.

• 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.

• At the option of the Servicer, the obligations and responsibilities of the Servicer with respect to all of the Contracts shall terminate on any Payment Date on which the Aggregate Discounted Contract Balance is less than 10% of the Initial Aggregate Discounted Contract Balance so long as the Servicer deposits or causes to be deposited into the Collection Account the Repurchase Amount for each Contract.

• CDF will calculate such interest by multiplying the Daily Rate by the Daily Contract Balance (each as defined below).

• The "Daily Contract Balance" is the amount of the outstanding principal debt which Dealer owes to DFS on the Accounts Receivable Facility at the end of each day (including the amount of all Electronic Transfers authorized) after DFS has credited the payments which it has received on the Accounts Receivable Facility, subject to the terms of Section 3.8 herein.

• On any date of determination, the sum of the Discounted Contract Balance of each Eligible Contract (excluding all Defaulted Contracts, Casualty Loss Contracts, Early Termination Contracts and Contracts subject to a Warranty Event) included in the Asset Pool as of the date of such determination.

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.

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.

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.