Net Funds Employed definition

Net Funds Employed the amount equal to the total of: a) the Purchase Price of Purchased Accounts less the amount of the Reserve Account, b) the amount of the Reserve Shortfall, c) any unpaid fees due from Seller under this ARPA, and d) any unpaid reimbursable expenses due from Seller under this ARPA.

Net Funds Employed means the amount specified as such in the Commercial Terms.

Net Funds Employed means and is equal to an amount, which varies based on any given time period, the total amount of all advances that Purchaser makes to Seller under this Rider less the total amount that Purchaser receives from Account Debtors in payment of advances to the extent such total amount received exceeds, after applying Clearance Days, the Required Reserve Amount.

Examples of Net Funds Employed in a sentence

• During the thirty (30)-day period following the delivery of a Notice of Disagreement, Sellers and Purchaser shall seek in good faith to resolve in writing any differences that they may have with respect to the matters specified in the Notice of Disagreement and seek to agree on a final determination of the Closing Net Funds Employed, the Foreign Cash Amount and the Prepaids Amount.

• The “Final Purchase Price” shall be equal to (a) the Final Closing Net Funds Employed plus (b) the Closing Premium plus (c) the Final Foreign Cash Amount plus (d) the Final Prepaids Amount minus (e) the Estimated Total Post-Closing Bonus Payment.

• 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.

• Seller agrees to maintain at all times an Equity Advance (as defined below) of at least $1,000,000 (the "Minimum Equity Advance"); provided, however, the Minimum Equity Advance if the Net Funds Employed increases to $8,000,000 or $9,000,000 will be $1,250,000 and $1,500,000, respectively.

• Once authorization, approval, consent or waiver for the Transfer of any such asset, claim, right or benefit not Transferred at the Closing is obtained, Sellers shall or shall cause their relevant Affiliates to, Transfer such asset, claim, right or benefit to Purchaser (and to the extent such asset is an Account, Purchaser shall thereupon pay to Sellers the Closing Net Funds Employed that would have been associated with such Account had such Account been Transferred at the Closing).

More Definitions of Net Funds Employed

Net Funds Employed means an amount equal to (a) the gross face amount of a Receivable; minus (b) the net amount of accrued reserves and earned reserves with respect to such Receivable calculated in accordance with GAAP; provided that the “Net Funds Employed” amount shall not include any reserve for Allowance for Doubtful Accounts (as defined by GAAP).

Net Funds Employed means the sum of (i) the aggregate funds paid by CSI for Accounts that remain outstanding or for which the amount of such Accounts has not been paid to CSI plus (ii) all fees and other amounts owed by Seller to CSI pursuant to this Agreement.

Net Funds Employed as set forth on the Sample Closing Statement.

Net Funds Employed at any given time: the aggregate Purchase Price of all Purchased Accounts that have not been Closed minus any amounts held on behalf of Seller in the Reserve Account, plus (i) any unpaid fees or reimbursable expenses due from Seller under this ARPA and (ii) the amount of the Reserve Shortfall, if any.

Net Funds Employed means all Advances plus all Purchase Fees.

Net Funds Employed of any Portfolio Account as of any specific date means the face amount of all Funded Accounts with respect to such Portfolio Account, minus the reserves maintained by the Seller with respect to such Portfolio Account, minus any net balance due by the Seller to the applicable Customer with respect to such Portfolio Account, plus any net balance due by the applicable Customer to the Seller with respect to such Portfolio Account (reflected as a negative balance on each Customer’s settlement statement), in each case as calculated consistent with the terms of the applicable Portfolio Documents and the Portfolio Summary attached hereto as Schedule 3.1A.

Net Funds Employed means average daily balance outstanding against the available amount of such receivables less any discounts, reserve amounts, and/or allowances of any nature. A/R Funding shall pay Client, or credit Client with the purchase price of such receivables, less any monies remitted, paid, or otherwise advanced by A/R Funding for the account of Client or reserves. The Client hereby agrees that in the event the prime rate as published by The Wall Street Journal should increase above 3.25 percent, the rate increase shall be borne by the Client by proportionately adjusting the basic rate of 1.50 percent. A/R Funding will remit to Client on request, and shall have the privilege of remitting at any time, the proceeds of sales as they are made, or any amounts standing to Client’s credit. However, to protect A/R Funding against possible returns, claims, allowances, expense, or other items properly chargeable to Client’s account hereunder, A/R Funding may reserve an amount equal to sixty percent (60%) of the face amount of the receivables, which amount is considered reasonably necessary to cover such contingencies. Such reserve accounts shall never be less than sixty percent (60%) of the outstanding receivables. Within two (2) days of receiving payment, A/R Funding will make available to Client the reserves held on individual paid receivables less deductions by customers, any unpaid compensation, charges or expenses, and any invoices that A/R Funding has not been paid within 90 days of billing date or when A/R Funding determines the invoice to be in dispute or not payable, whichever is earliest. These amounts will be remitted to Client upon the next assignment of invoices. It is further understood and agreed by and between the parties hereto that the minimum amount to be purchased shall be the sum of $300,000.00 per calendar quarter. In the event the amount purchased in any calendar quarter should be less than $300,000.00, the discount rate stated herein, nevertheless, shall be calculated on the quarterly minimum sum herein stated. It is further understood and agreed that the maximum amount outstanding in unpaid invoices at any one time shall not exceed $4,000,000.00.