Automated Sweep Program Sample Clauses

The Automated Sweep Program clause establishes a process by which excess funds in a designated account are automatically transferred, or "swept," to another account, typically to maximize interest earnings or maintain target balances. In practice, this means that at the end of each business day, any funds exceeding a specified threshold in a checking account might be moved to an investment or savings account, and vice versa if balances fall below a minimum. The core function of this clause is to optimize cash management for the account holder, ensuring funds are efficiently allocated without requiring manual intervention.