Funds in Use definition

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

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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 Non-Utilisation Fee shall be calculated in accordance with the following formula: N% X F = NUF where: N% is the Non-Utilisation Fee Percentage F is the amount by which average Funds in Use during any calendar month are less than Net Funds Employed.

• A▇▇▇▇▇▇▇▇ may debit the Repurchase Price to the Client’s Funds in Use Account or require that it be otherwise paid to A▇▇▇▇▇▇▇▇.

• The Client agrees that a certificate in writing made up from the books of the Bank, and signed by an officer of the Bank of the status of "manager", stating the balances of Funds in Use or Retention shall be sufficient evidence of such balances, and of all other matters set out in such certificate, without it being necessary for the Bank to produce any books or vouchers to verify the same, in the absence of manifest error.

• Such Discount will be payable on demand and, to the extent not actually paid, will be compounded monthly in arrears and debited to the Over Advance Payment Account or the Funds in Use as described in paragraph 2.1(b) (Interest).

• For administrative convenience Venture may calculate the Discount Charge by reference to the Funds in Use at the end of each day.

• Such entitlement is recorded by the crediting of the amount received (less the Service Fee) to Funds in Use with a corresponding reduction in Total Outstandings and adjustment to Retention.

• These accounts will include a Sales Ledger Account, a Funds in Use Account and such other accounts as A▇▇▇▇▇▇▇▇ consider appropriate.

More Definitions of Funds in Use

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 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 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 total amount of payments (including prepayments) made by

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

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