Common use of Authority PSL-Sourced Proceeds Account Clause in Contracts

Authority PSL-Sourced Proceeds Account. (a) Amounts deposited into the Authority PSL-Sourced Proceeds Account as provided in Section 3.1 shall be retained therein, except that (i) amounts on deposit therein may be transferred to the applicable depositary bank under the Deposit and Disbursement Agreement as provided in Sections 3.1(b)(ii) and 3.1(b)(iii), (ii) amounts may be withdrawn upon submission by the Calculation Agent of a request for disbursement for Processing Costs or Chargebacks as provided in Section 3.4 hereof, and

Appears in 5 contracts

Samples: Authority PSL Account Agreement, Authority PSL Account Agreement, Authority PSL Account Agreement

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