Funds in Use definition

Funds in Use means the debit balance, if any, on the Current Account.

Funds in Use. The debit balance, if any, on the Current Account arrived at by aggregating all Prepayments made by Venture to the Client which have been debited to a Current Account (together with all sums treated as Prepayments by virtue of clause 9(5)) and deducting therefrom the aggregate of Debts transferred to the Current Account in accordance with clause 7(2).

Funds in Use means, the aggregate amount of:

Examples of Funds in Use in a sentence

• The Reports sent to you each month include a Statement of Account reflecting transactions in three sections: Accounts Receivable, Client Position Account and Funds In Use.

• Interest will be credited as of the last day of each month based on the daily credit balances in your Funds In Use account for that month, at a rate three percent (3%) per annum below the Chase Prime Rate being used to calculate interest for the period.

• Discounting Charge will be payable monthly, calculated as the percentage stipulated in the Agreement of the Funds In Use from time to time.

• Interest will be credited as of the last day of each month based on the daily credit balances in your Funds In Use account for that month, at a rate four percent (4%) per annum below the Chase Prime Rate being used to calculate interest for the period.

• The Lender shall be entitled to charge the Companies’ Funds In Use Account at the rate provided for herein when due until all Obligations have been paid in full.

More Definitions of Funds in Use

Funds in Use means the total amount of payments (including prepayments) made by

Funds in Use means any excess, for the time being, of (a) total Prepayments made in respect of Debts, plus any outstanding Administration Charge and Discounting Charge and any Service Charges to the extent that they have not been deducted in calculating the Prepayments, over (b) the total amount of cleared funds received by the Bank in relation to Debts;

Funds in Use means the account of the Client with the Bank maintained for the purposes of this Agreement;

Funds in Use or "FIU" means the total amount of payments (including Prepayments) made by the Bank to the Client in respect of Debts, plus Service Charges, Discounting Charges and other fees, charges and commissions and all other sums owing or payable by the Client to the Bank under this Agreement, but less the total amount of clear funds received by the Bank towards discharge of Debts, and less the payments in clear funds actually received by the Bank from the Client under this Agreement, which will be reflected as the balance(s) in the Discounting Account(s);

Funds in Use means the excess, for the time being, of all Purchase Price payments plus the Administration Charge and the Service Charge to the extent that they are not deducted in calculating the Purchase Price over the total amount of cleared funds received by the Bank in relation to Debts;

Funds in Use means, at any time, in relation to the Receivables Purchase Facility only, the aggregate amount of:

Funds in Use means the debit balance (if any) on the Payment Account;