Daily Balance

Example Definitions of "Daily Balance"
Daily Balance. Shall mean the amount determined by taking the amount of the Credit owed at the beginning of a given day, adding any new Credit advanced or incurred on such date, and subtracting any payments or collections which are deemed to be paid and are applied by Bank in reduction of the Credit on that date under the provisions of this Agreement.
Found in MEADOWBROOK INSURANCE GROUP INC contract
Daily Balance. Shall mean the principal amount determined by taking the amount of the Credit owed at the beginning of a given day, adding the principal amount of any new Credit advanced or incurred on such date, and subtracting any payments or collections which are deemed to be paid and are applied by Bank in reduction of the Credit on that date under the provisions of this Agreement.
Found in Andalay Solar, Inc. contract
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