Minimum Credit Balance Clause Samples

The Minimum Credit Balance clause sets a required minimum amount of credit that must be maintained in an account or under an agreement. In practice, this means the account holder or party must ensure their balance does not fall below a specified threshold, which may be periodically reviewed or adjusted. This clause helps ensure ongoing financial stability and reduces the risk of default or insufficient funds for obligations under the contract.
Minimum Credit Balance. A minimum credit balance of HK$100,000.00 or an equivalent amount in the currencies of United States Dollars and other foreign currency that are offered by the Company (e.g. USD13,000.00) or such amount as may from time to time be prescribed in the Banking Ordinance (Chapter 155 of the Laws of Hong Kong) as the minimum sum of a deposit that can be taken by a deposit taking company in the Hong Kong Special Administrative Region (HKSAR) of the People’s Republic of China shall at all times be maintained in each Deposit Account.
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Minimum Credit Balance. The Guarantor shall following delivery of the Ship under the Shipbuilding Contract and at all times thereafter while that Ship is subject to a Mortgage, maintain a minimum credit balance of $750,000 on the Earnings Account relating to that Ship."; (b) the definition of, and references throughout each Guarantee to, the Loan Agreement, the Master Agreements and any of the other Finance Documents shall be construed as if the same referred to the Loan Agreement, the Master Agreements and those Finance Documents as amended and supplemented by this Agreement; (c) the definition of, and references throughout each of the Guarantees to, each Mortgage shall be construed as if the same referred to that Mortgage as amended and supplemented by the relevant Mortgage Addendum (if any); and (d) by construing references throughout each Guarantee to "this Guarantee", "hereunder" and other like expressions as if the same referred to that Guarantee as amended and supplemented by this Agreement.
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Minimum Credit Balance. The Borrower shall procure that, on and from the Delivery Date of each Ship and at all times thereafter while that Ship is subject to a Mortgage, there shall be maintained a minimum credit balance of $750,000 on the Earnings Account relating to that Ship.". (q) During the Waiver Period the requirement of the Borrower to comply with the minimum security covenant set out in clause 15.1 of the Loan Agreement shall be reduced to 120 per cent. of the Loan and, for the avoidance of doubt, at the end of the Waiver Period the figure of 130 per cent. of the Loan shall apply once more. (r) Schedule 3 Part B shall be amended by the insertion of the following new paragraph below paragraph 8 and above the final paragraph of such Schedule, which shall read as follows:
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Related to Minimum Credit Balance

  • Maximum Credit Patheon's liability for Active Materials calculated in accordance with this Section 2.2 for any Product in a Year will not exceed, in the aggregate, the Maximum Credit Value set forth in Schedule D to a Product Agreement.

  • Credit Balances No interest or other amount will be paid by us on any credit balance on the Unallocated Account.

  • 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.

  • FUNDING AVAILABILITY This Contract is contingent upon the continued availability of funding. If funds become unavailable through the lack of appropriations, legislative or executive budget cuts, amendment of the Appropriations Act, state agency consolidation, or any other disruptions of current appropriations, DFPS will reduce or terminate this Contract.

  • Minimum Cash Balance Licensee shall fund the Facility Checking Account --------------------- with an initial amount equal to $25,000.00 and thereafter Licensee shall provide the working capital required by Section I(H) of this Agreement