Eligible Balances means all funds of or maintained by Borrower (and, if applicable, Borrower's Subsidiaries) in demand deposit or time deposit accounts at a Designated Bank, minus balances to support float, reserve requirements and any other reductions that may be imposed by governmental authorities from time to time.
Eligible Balances means, for any calendar day and Lender, the sum (which for any day that is not a Business Day is deemed for this definition to be that sum as determined as of the close of business on the preceding Business Day) of collected balances as of the close of business on that day in all identified non- interest bearing demand deposit accounts or money market zero reserve accounts of or maintained by Co-Borrowers with such Lender.
Eligible Balances means, for any calendar day and any Depositary, the sum (which for any day that is not a Business Day is deemed for this definition to be that sum as determined as of the close of business on the preceding Business Day) of collected balances as of the close of business on that day in all identified non-interest bearing demand deposit accounts or money market zero reserve accounts of or maintained by Borrower with that Depositary. "ELIGIBLE-COMMITTED-B/C-PAPER LOAN" is defined in SCHEDULE 4.1.
Examples of Eligible Balances in a sentence
Upon the giving of such Notice, the obligation of such Lender to charge interest at the Balance Funded Rate based on Borrowers’ Eligible Balances shall be immediately suspended for the duration of such illegality and with respect to Advances bearing interest at the Balance Funded Rate, each such Advance of such Lender shall bear interest at the applicable Interest Rate described in Exhibit H.
Under the Bank Sweep, Eligible Balances are automatically swept by VBS into interest-bearing deposit accounts (“Deposit Accounts”) at one or more Program Banks.
Each Business Day (as defined below), VBS will sweep the Eligible Balances in Your Account to the Program Bank(s).
After the end of each calendar month, the Lender will calculate the interest due for the applicable month, by electing a portion ("Balance Funded Portion") of the Applicable Advances which is equal to the lesser of (a) the Applicable Advances outstanding during such month or (b) the average amount of Eligible Balances on deposit with a Designated Bank during such month.
Your periodic VBS Account statement will summarize account activity related to the Bank Sweep, including Your ending balance, as well as deposit, withdrawal, and interest information related to Your Eligible Balances at Program Banks for the period covered.
More Definitions of Eligible Balances
Eligible Balances means all funds of or maintained by Borrower (and, if applicable, Borrower's Subsidiaries) in demand deposit or time deposit accounts at a Designated Bank, minus balances to support float, reserve requirements and any other reductions that may be imposed by governmental authorities from time to time. "Eligible Loan" means a Single Family Mortgage Loan that satisfies the conditions and requirements set forth in Exhibit H. "Eligible Mortgage Pool" means a Mortgage Pool for which (a) an Approved Custodian has issued its initial certification, (b) there exists a Purchase Commitment covering the Agency Security to be issued on the basis of that certification and (c) the Agency Security will be delivered to Lender. "Equity Interests" means all shares, interests, participations or other equivalents, however, designated, of or in a Person (other than a natural person), whether or not voting, including common stock, membership interests, warrants, preferred stock, convertible debentures and all agreements, instruments and documents convertible, in whole or in part, into any one or more of the foregoing. "ERISA" means the Employee Retirement Income Security Act of 1974 and all rules and regulations promulgated under that statute, as amended, and any successor statute, rules, and regulations. "ERISA Affiliate" means any trade or business (whether or not incorporated) that is a member of a group of which Borrower is a member and that is treated as a single employer under Section 414 of the Internal Revenue Code. "Event of Default" means any of the conditions or events set forth in Section 10.1. "Excess Buydown" has the meaning set forth in Section 3.4. "Exchange Act" means the Securities Exchange Act of 1934 and all rules and regulations promulgated under that statute, as amended, and any successor statute, rules and regulations. "Exclusionary List" means the list by that name published and updated periodically by Lender on the www.gmacresidentialfunxxxx.xxx xxxxxxx. "Xxxxxxx X" means Exhibit B, as applicable to the type of Eligible Loan against which a Warehousing Advance is to be made. "Existing Agreement" means the Warehousing Credit and Security Agreement dated as of August 1, 2003, as amended, between Borrower and Lender. "Fair Market Value" means, at any time for an Eligible Loan or a related Pledged Security (if the Eligible Loan is to be used to back a Pledged Security) as of any date of determination, the market price for such Eligible Loan or Pledged Securit...
Eligible Balances means the amount of net, unrestricted, collected, deposits of Borrower maintained in operating and money market accounts with Bank as determined after Bank deducts float and balances it requires under its normal practices as compensation for maintaining such accounts.
Eligible Balances added in Third Amendment (2/24/96) pg. 2.
Eligible Balances. High LTV Mortgage Loan," "Home Equity Loan," "`Maturity Date," "Mortgage," "Mortgage Note Amount'. and "Warehousing Promissory Note" in their entirety, replacing them with the following definitions:
Eligible Balances. Home Equity Loan," "Maturity Date," "Mortgage," "Mortgage Note Amount," "Nonconforming Mortgage Loan" and "Second Mortgage Loan" in their entirety, replacing them with the following definitions:
Eligible Balances means all funds of or maintained by the Company and its ----------------- Subsidiaries in accounts at a Designated Bank, less balances to support fees, interest or other amounts that would otherwise be payable to the Designated Bank, reduction in interest payable under the RFC Conduit Credit Agreement or other loan agreements to which the Company and the Lender are parties, float, reserve requirements, Federal Deposit Insurance Corporation insurance premiums and such other reductions as may be imposed by governmental authorities from time to time.
Eligible Balances. Fair Market Value," "Home Equity Loan," "Maturity Date," "Mortgage," "Mortgage Note Amount," "Second Mortgage Loan" and "Warehousing Advance" in their entirety, replacing them with the following definitions: