Cumulative Balance definition

Cumulative Balance means during a fiscal year period, the sum of all Surplus Amounts, less all Deficit Amounts. If the Cumulative Balance is negative at the end of a fiscal year, then the negative balance is carried forward as the opening balance of the next fiscal year.
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Examples of Cumulative Balance in a sentence

  • Increase/ Cumulative Balance Outstanding Total Assets (Decrease) Date the Loan by $ $ $ ------------- --------- ----------- ------------- Further, the Borrower hereby represents and warrants that: Proceeds from the advance shall be limited to conform with the usage specified in the Agreement, and The Borrower is in compliance with all the terms and conditions in the Agreement.

  • If at the end of each such full calendar quarter and Expiration Period (as applicable) there is a Net Cumulative Balance owing by the Meridian Group (or any of them or any of their subsidiaries or affiliates) to Orion (or any of its subsidiaries and affiliates), such Net Cumulative Balance shall be accrued on the books and records of the Parties but shall not be payable until fifteen days after the CIT Maturity Date (collectively, the “Accrued Meridian Obligations”).

  • If at the end of each such calendar quarter and Expiration Period (as applicable) there is a Net Cumulative Balance owing by Orion (or any of its subsidiaries and affiliates) to the Meridian Group (or any of them or any of their subsidiaries or affiliates), such Net Cumulative Balance shall be accrued on the books and records of the Parties but shall not be payable until fifteen days after the CIT Maturity Date (collectively, the “Accrued Orion Obligations”).

  • If such inspection confirms that the Triton Rig Assets do not meet the Asset Put Condition, then the Meridian Group shall satisfy the unpaid Net Cumulative Balance and Other Meridian Obligations by making the Meridian Cash Payment described in Section 1.3.3(a)(i) above.