Daily Loan Balance definition

Daily Loan Balance means an amount calculated as of the end of each calendar day by subtracting (i) the cumulative principal amount paid by Agent to a Lender on the Loan from the Closing Date through and including such calendar day, from (ii) the cumulative principal amount on the Loan advanced by such Lender to Agent on the Loan from the Closing Date through and including such calendar day.

Daily Loan Balance means an amount calculated as of the end of each calendar day by subtracting (i) the cumulative principal amount paid by Agent to a Lender on a Loan from the Closing Date through and including such calendar day, from (ii) the cumulative principal amount on a Loan advanced by such Lender to Agent on that Loan from the Closing Date through and including such calendar day.

Daily Loan Balance has the meaning assigned to that term in subsection 9.8(A)(3).

Examples of Daily Loan Balance in a sentence

• Each Floor Plan Lender’s share of interest accruing each day on the Floor Plan Loans shall be based on such Floor Plan Lender’s Daily Loan Balance.

• Such Lender’s share of the Unused Line Fee payable under Section 3 of the Schedule for a month shall be an amount equal to (a)(i) such Lender’s Pro Rata Share of the Maximum Credit Limit during such month, less (ii) such Lender’s average Daily Loan Balance of the Loans for such month, multiplied by (b) the percentage specified regarding the Unused Line Fee in Section 3 of the Schedule.

• Each Lender’s share of interest accruing each day on the Loans shall be based on such Lender’s Daily Loan Balance.

• Such Lender's share of the Unused Line Fee described in subsection 2.3(A) shall be an amount equal to (a)(i) such Lender's average Revolving Loan Commitment during such month, less (ii) the sum of (x) such Lender's average Daily Loan Balance of the Revolving Loans, plus (y) such Lender's Pro Rata Share of the average daily aggregate amount of Letter of Credit Reserve, in each case for the preceding month, multiplied by (b) the percentage required by subsection 2.3(A).

• The Daily Loan Balance shall not be subject to Section 3.8 of this Agreement.

More Definitions of Daily Loan Balance

Daily Loan Balance is equal to the amount of the outstanding principal debt which Dealer owes to CDF on the Accounts Receivable Facility at the end of each day (including the amount of all Electronic Transfers authorized) after CDF has credited the payments which it has received on the Accounts Receivable Facility. The Daily Loan Balance shall not be subject to Section 3.8 of the Agreement. Such unused line fee shall be payable monthly in arrears and due pursuant to the monthly billing statement. Once received by CDF, a line fee shall not be refundable by CDF for any reason."

Daily Loan Balance means as of any day for any Floor Plan Lender, an amount calculated as of the end of that day by subtracting (a) the cumulative principal amount paid by the Administrative Agent to such Floor Plan Lender on account of Floor Plan Loans from the Effective Date through and including the date as of which the Daily Loan Balance is being determined from (b) the cumulative principal amount advanced by such Floor Plan Lender to the Administrative Agent for the benefit of the Borrowers to fund Floor Plan Loans made on and after the Effective Date through and including such date of determination. Notwithstanding the foregoing, each Floor Plan Lender hereby acknowledges that it shall only receive interest on an Eligible New/Rental Floor Plan Loan from the date that it advances funds with respect thereto and it will not participate in any discounts and/or subsidies received from any Tier 1 Manufacturer or Tier 2 Manufacturer; and

Daily Loan Balance has the meaning specified in Section 2.15(a)(i).

Daily Loan Balance means, for any day, the principal balance of the Inventory Loan outstanding as of the close of business of the Lender for such day after giving effect to all payments received made during such day. Note -- means the Inventory Note.

Daily Loan Balance is equal to 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. The Daily Loan Balance shall not be subject to Section 3.8 of the Agreement. Such unused line fee shall be payable monthly in arrears and due pursuant to the monthly billing statement. Once received by DFS, a line fee shall not be refundable by DFS for any reason."

Daily Loan Balance has the meaning assigned to that term in subsection 2.11(B).

Daily Loan Balance is defined in Section 8.6.