Net Debit Balance definition

Net Debit Balance means, on any Calendar Day, the aggregate amount of debit balances in the Accounts outstanding on such Business Day net of any credit balances (other than short sale proceeds) in the Accounts. For the avoidance of doubt, if the amount calculated by the foregoing sentence results in a net credit balance, the Net Debit Balance shall be zero. For the purposes of calculating the aggregate net amount of the Net Debit Balance, Pershing will convert any debit and credit balances denominated in non-USD currencies into USD.
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Net Debit Balance means the difference between the aggregate cleared credit balances (if any) on all the current accounts held by the Company with any Overdraft Facility Lender (excluding trust accounts) and the aggregate of the cleared debit balances on the Company’s current accounts with such Overdraft Facility Lender;
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Examples of Net Debit Balance in a sentence

  • At any time, Pershing may (i) require Client to repay any outstanding Net Debit Balance upon demand, (ii) modify the Margin Methodology without prior notice, and (iii) adjust the rates, fees and charges applicable to Client without prior notice.

  • Pershing reserves the right to charge interest based on an alternative Reference Rate upon five (5) Business Day's prior written notice if ▇▇▇▇▇▇▇▇'▇ actual out-of-pocket costs to facilitate a Net Debit Balance financing exceeds the rate charged or credited to Client.

  • The amount to be financed by JHFS will be equal to the estimated Net Debit Balance determined jointly by JHCC and PSI by 11:00 a.m., New York time.

  • If the amount exceeds the Net Debit Balance, PSI will credit JHCC at the **.

  • John ▇▇▇c▇▇▇ ▇▇▇edom Securities Corporation ("JHFS") will finance JHCC's customer and firm Net Debit Balance.

  • The interest charged on the Net Debit Balance will be debited to the JHCC firm account monthly.

  • The Net Debit Balance is the net of JHCC's (customer and firm) cash and margin debits, free credits, customer and firm short account credit balances covered by excess inventory and Money Market Fund suspense accounts.

  • If the Net Debit Balance exceeds the amount sourced by JHCC, the difference will be charged to JHCC at **.

  • Pershing reserves the right to charge interest based on an alternative Reference Rate upon five (5) Business Day’s prior written notice if P▇▇▇▇▇▇▇’▇ actual out-of-pocket costs to facilitate a Net Debit Balance financing exceeds the rate charged or credited to Client.

  • Pershing reserves the right to charge interest based on an alternative Reference Rate upon five (5) Business Day’s prior written notice if Pershing’s actual out-of-pocket costs to facilitate a Net Debit Balance financing exceeds the rate charged or credited to Client.