Float Factor definition
Float Factor means the number of days described in Schedule 2.
Examples of Float Factor in a sentence
Provided, however; that (a) for the purpose of computing interest hereunder such items shall be applied by Lender on account of the Revolving Loans the number of days equal to the Float Factor described in Schedule 2 after same have been deposited into the Concentration Account, and (b) no such item received by Lender shall constitute payment to Lender unless such item is actually collected by the bank at which Lender maintains its Concentration Account, presently, Wilmington Trust FSB.