Minimum Balance Required Sample Clauses

The Minimum Balance Required clause sets a mandatory threshold for the lowest amount of funds that must be maintained in an account at all times. This clause typically applies to bank accounts, investment accounts, or other financial arrangements, and may specify consequences such as fees or account restrictions if the balance falls below the stated minimum. Its core practical function is to ensure that the account holder maintains a certain level of funds, which helps the financial institution manage risk and administrative costs.
Minimum Balance Required. 2.1 The minimum balance required to open a fixed time deposit shall be established by the Bank from time to time.
View SourceView Similar (3)
Minimum Balance Required. Minimum balance required to open an account established by the Bank from time to time.
View SourceView Similar (2)
Minimum Balance Required. A minimum balance of $25.00 is required in a Primary Share Account to obtain a card or access device.
View Source
Minimum Balance Required. The last sentence of Section 2(c) of Note B is hereby deleted in its entirety and replaced with the following: “Furthermore, as more particularly provided in the Loan Agreement, if the outstanding principal balance of this Note is at any time less than $50,000, Lender may demand immediate payment in full of this Note and may terminate the revolving facility it evidences.”
View Source
Minimum Balance Required. The minimum balance to open this account is $100.00. The account must maintain a balance of $500.00 to avoid a monthly fee of $10.00. Furthermore, if the account balance is less than $100.00 and has no activity for 60 consecutive days, the account will then be charged an additional $5.00 monthly inactive fee. When you signed your account signature card or adopted a resolution or a certificate of authority, you agreed to follow our rules and regulations, including any changes or additions we may make to them in the future. If your account signature card, resolution or certificate of authority does not contain an agreement to follow our rules and regulations, by continuing to use your account you agree to follow our rules and regulations. If there are any terms contained in your signature card, resolution or certificate of authority that are inconsistent with the terms of this Agreement, the terms of this Agreement shall control. Authorized Signers and Owners‌
View Source

Related to Minimum Balance Required

  • Minimum Balance Requirements To be a member and maintain Accounts with Us You must purchase 1 share in the Credit Union. The par value of a share in this Credit Union is $5.00. If the balance in Your primary share Account drops below 1 share ($5.00), at any time, We may, at Our option, close Your Account. Nonsufficient Funds Returns. Any share draft or pre-authorized transfer, or transaction made through the use of a debit card, or other electronic means, as is applicable (including any in-person transaction), that is presented to Us for payment on Your Account when Your Account lacks sufficient collected funds to pay any such item may, at Our option, be returned for nonsufficient funds or We may honor any such item and charge You a fee for doing so. Overdraft Balance Calculation. When processing transactions that debit or credit Your Account, We start each Business Day with Your final Account balance from the preceding Business Day. The final balance takes into account all of the debit and credit transactions that were settled that Business Day pursuant to Our Funds Availability Policy, as well as any other debits or credits to Your Account that were finally settled that day, as described above in the "Deposit of Items" and "Collection and Processing of Items" sections of the Account Agreement. This starting balance at the beginning of a Business Day (the preceding Business Day's final balance) is sometimes referred to as Your "actual balance."

  • Minimum Balance ▇▇▇▇▇▇▇▇ agrees to maintain a minimum balance of funds in the Settlement Account as Processor may specify to Merchant in writing from time to time.

  • Minimum Interest Coverage The Borrower will not permit the ratio of EBITDA to Consolidated Interest Expense as at any fiscal quarter end for the four fiscal quarters then ending to be less than 3.00 to 1.0.

  • Minimum Insurance Requirements Contractor shall procure and maintain for the duration of the contract insurance against claims for injuries or death to persons or damages to property which may arise from or in connection with the performance of the work hereunder and the results of that work by the Contractor, his agents, representatives, employees or sub-contractors. Coverage - Coverage shall be at least as broad as the following:

  • Coverage Minimum Requirement Commercial General Liability Insurance, including Bodily Injury, Personal Injury, Property Damage, Advertising Injury, and Medical Payments Each Occurrence General Aggregate $ 1,000,000 $ 2,000,000 Automobile Liability Insurance - Any Auto Each Occurrence General Aggregate $ 1,000,000 $ 2,000,000 Professional Liability $ 1,000,000 Workers Compensation Statutory Limits Employer’s Liability $ 1,000,000