Deficit Sample Clauses
The 'Deficit' clause defines the circumstances and procedures for addressing a shortfall or negative balance in a specified account or financial arrangement. Typically, this clause outlines how deficits are calculated, who is responsible for covering the shortfall, and the timeline for rectification. For example, in a joint venture, if expenses exceed contributions, the deficit clause would specify how additional funds are to be provided by the parties. Its core practical function is to ensure that any financial gaps are promptly addressed, thereby maintaining the financial integrity of the agreement and preventing disputes over unpaid obligations.
Deficit. Charter School shall be responsible for all deficits.
Deficit. If a unit member has used more sick leave than has been earned and accrued, that deficit, in a dollar amount calculated from the equivalent daily rate for that member, shall be deducted from the final salary warrant due for the current academic year.
Deficit. It is the responsibility of DEGIRO to always make sure that the value of all positions in money and Financial Instruments, which DEGIRO and SPV hold with third parties for the account and risk of the customers of DEGIRO, corresponds with the value of all rights in money and Financial Instruments of all customers together towards DEGIRO and SPV. It nonetheless may occur that there is a deficit at a given moment in money in a certain currency or in certain Financial Instruments, which SPV holds for the customers of DEGIRO. This could for instance be caused by an error of DEGIRO or of a custodian or prime broker. It goes without saying that ▇▇▇▇▇▇ will attempt to find out at such time how the deficit was caused and will make an effort to undo the deficit as soon as possible. As long as there is a deficit which has not been allocated to one or more customers, the following applies in order to protect the customers of DEGIRO: if there is a deficit in a certain currency or in a certain Financial Instrument, which DEGIRO and SPV holds for the account and risk of the customers of DEGIRO, then DEGIRO will be entitled to divide this deficit over all customers of DEGIRO for whose account such currency or Financial Instrument is or should be held, pro rata to the total position of such currency of Financial Instrument that should be held for each of them. In case of a deficit, ▇▇▇▇▇▇ is entitled to suspend the execution of Instructions until there is sufficient clarity with respect to the deficit and the distribution or undoing thereof. If it becomes clear that the deficit is due to the failure of a customer of DEGIRO to provide sufficient collateral or funding for its investments, then DEGIRO will undo the deficit at its own expense. More information about the distribution of a deficit, can be found in the document Investment Services in the Investment Services Information.
Deficit. It is the responsibility of Finst to always make sure that the value of all positions in Digital Assets, which SPV holds for the account and risk of the clients of Finst, corresponds with the value of all rights in Digital Assets of all clients together towards SPV. It nonetheless may occur that there is a deficit at a given moment in certain Digital Assets, which SPV holds for the clients of Finst. This could for instance be caused by an error of Finst or of a third party used by ▇▇▇▇▇. It goes without saying that ▇▇▇▇▇ will attempt to find out at such time how the deficit was caused and will make an effort to undo the deficit as soon as possible. As long as there is a deficit which has not been allocated to one or more clients, the following applies in order to protect the clients of Finst: if there is a deficit in a certain Digital Asset, which SPV holds for the account and risk of the clients of Finst, then Finst will be entitled to divide this deficit over all clients of Finst for whose account such type of Digital Asset is or should be held, pro rata to the total position of such Digital Asset that should be held for each of them. In case of a deficit, ▇▇▇▇▇ is entitled to suspend the execution of relevant Instructions until there is sufficient clarity with respect to the deficit and the distribution or undoing thereof.
Deficit. The excess of the total of Operating Expenses over Income.
Deficit. The Client shall be liable for any Deficit resulting from losses and any cost, fee or expense (including legal costs) incurred by the Company, on a full indemnity basis, in relation to the purchase and/or sale of Investment Products pursuant to Clause 6.2 (Client's Failure to Settle).
Deficit. The Provider will be responsible for any operating shortfalls or extraordinary expenses. Any deficit will not be the responsibility of BC Housing.
Deficit. The Client shall be liable for any Deficit that may exist after the Company has exercised its rights under the Agreement, and any related cost and expense (including legal costs on a full indemnity basis) incurred by the Company. The Client shall immediately pay to the Company on demand an amount equal to such Deficit together with the Company's cost of funding such amount and interest at the rate determined by the Company from time to time, from the date of demand up to and including the date on which the Company receives actual and unconditional payment in full (after as well as before any judgment).
Deficit. A negative excess of the total Authorized Operating Expenses over Net Sales.
Deficit. The excess of the total of program expenses over program revenues.