Automatic Sweep; Payments Sample Clauses

Automatic Sweep; Payments. Within thirty (30) days following the date of this Agreement, the Borrower shall establish and maintain all of its primary deposit accounts with the Bank and shall establish a cash management relationship with the Bank such that all payments and Collateral proceeds shall be swept to the Revolving Loan on a daily basis. All items presented for payment in Borrower’s primary operating account with the Bank, to the extent that proceeds in such account are insufficient to honor such payment, shall be deemed to be requests by the Borrower for advances under the Revolving Loan and, subject to availability under the Borrowing Base, the Bank shall make advances under the Revolving Loan into the Borrower’s operating account in the amount necessary to fund such items. Immediately, upon the receipt of all checks, drafts, cash and other remittances in payment of any Inventory sold or in payment or on account of the Borrower’s accounts, contracts, contract rights, notes, bills, drafts, acceptances, general intangibles, choses in action and all other forms of obligations, the Borrower will deliver same to the Bank accompanied by a remittance report in form specified by the Bank. Said proceeds shall be delivered to the Bank in the same form received, except for the endorsement of the Borrower where necessary to permit collection of the items, which endorsement the Borrower agrees to make. The Bank will credit (conditioned upon final collection) all such payments against the principal or interest due under the Revolving Loan. For the purpose of computing interest with respect to advances under the Revolving Loan and determining the unused Revolving Loan Commitment in calculation of the Unused Fee, the Borrower shall receive immediate credit for payments received by wire transfer, but any items requiring clearance or payment shall not be considered to have been credited against any advances under the Revolving Loan until two (2) Business Days after receipt by the Bank of any such items. The order and method of application shall be in the sole discretion of the Bank and any portion of such funds which the Bank elects not to apply shall be paid over from time to time by the Bank to the Borrower. The Bank will at all times have the right to require the Borrower to (i) enter into a lockbox arrangement with the Bank for the collection of such remittances and payments, or (ii) maintain its primary deposit accounts at the Bank, or, in the alternative, at another financial institut...
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Related to Automatic Sweep; Payments

  • Automatic Payments You can agree with a seller who accepts PayPal to use PayPal as the payment method for future purchases with that seller. This agreement is between you and the seller and allows you to pay the seller on a one-time, regular or sporadic basis. Depending on the seller you wish to pay, you might also be able to directly instruct PayPal to make future payments to the seller on your behalf on a one-time, regular or sporadic basis. Examples of automatic payments that can be arranged by you either with a seller or with PayPal include those that PayPal calls a “billing agreement,” "subscription," "recurring payment,” “reference transaction,” "preauthorised transfer" or "preapproved payment." You authorise and instruct PayPal to pay the third party (or another person they direct) amounts from your payment method for the amounts you agree to owe and as presented to PayPal by that third party. You may cancel an automatic payment up to 3 business days before the date of the next scheduled payment from your account settings or by contacting us. Once you contact PayPal to cancel an automatic payment, all future automatic payments under your agreement with that seller will be stopped. If you cancel an automatic payment, you may still owe the seller money for the purchase or have additional obligations to the seller for any goods or services that you receive but have not paid for. If you have authorised an automatic payment and PayPal performs currency conversion for an automatic payment transaction, PayPal will use the transaction exchange rate (including PayPal's currency conversion fee) in effect at the time the automatic payment transaction is processed.

  • Automatic Recurring Payments You may use the xxxx payment function to arrange for the automatic payment of bills that have a fixed frequency and amount. Once your automatic xxxx payment arrangements are established, we will make the payments without further requests by you. If the payment due date for an automatic payment falls on a weekend or holiday, the payment may be made the following business day.

  • Payments from the Gross Settlement Amount The Administrator will make and deduct the following payments from the Gross Settlement Amount, in the amounts specified by the Court in the Final Approval:

  • Payments on Early Termination For the purpose of Section 6(e) of this Agreement:

  • Rollovers of Settlement Payments From Bankrupt Airlines If you are a qualified airline employee who has received a qualified airline settlement payment from a commercial airline carrier under the approval of an order of a federal bankruptcy court, you are allowed to roll over up to 90 percent of the proceeds to your Traditional IRA, within 180 days after receipt of such amount, or by a later date if extended by federal law. If you make such a rollover contribution, you may exclude the amount rolled over from your gross income in the taxable year in which the airline settlement payment was paid to you. If you are a qualified airline employee who has received a qualified airline settlement payment from a commercial airline carrier under the approval of an order of a federal bankruptcy court in a case filed after September 11, 2001, and before January 1, 2007, you are allowed to roll over any portion of the proceeds into your Xxxx XXX within 180 days after receipt of such amount, or by a later date if extended by federal law. For further detailed information and effective dates you may obtain IRS Publication 590-A, Contributions to Individual Retirement Arrangements (IRAs), from the IRS or refer to the IRS website at xxx.xxx.xxx.

  • Reallocation to a Class with an Equal Salary Range Maximum 1. If the employee meets the skills and abilities requirements of the position, the employee remains in the position and retains existing appointment status.

  • Termination Payments In the event of termination of the Executive’s employment during the Employment Period, all compensation and benefits set forth in this Agreement shall terminate except as specifically provided in this Section 8.

  • Additional Fee on Late Payments For any payments thirty (30) calendar days or more overdue under this Agreement, Registry Operator shall pay an additional fee on late payments at the rate of 1.5% per month or, if less, the maximum rate permitted by applicable law.

  • When Must Distributions from a Xxxxxxxxx Education Savings Account Begin? Distribution of a Xxxxxxxxx Education Savings Account must be made (or otherwise will be deemed made) no later than 30 days from the earlier of the beneficiary’s death or attainment of age 30. A distribution from a Xxxxxxxxx Education Savings Account may be rolled over to another beneficiary’s Xxxxxxxxx Education Savings Account according to the requirements of Section (4). Note that the Economic Growth and Tax Relief Reconciliation Act of 2001 waives the distribution age limitation if the beneficiary of the Xxxxxxxxx Education Savings Account is a “Special Needs” student.

  • Distributions; Xxxxxx Xxx Guaranty On or before each Determination Date (or as soon thereafter as is reasonably practicable), Xxxxxx Mae shall calculate the Lower Tier Distribution Amount for the current calendar month. On each Distribution Date, Xxxxxx Xxx shall withdraw from the Certificate Account the portion of the Lower Tier Distribution Amount distributable thereon and shall make the distributions to the Holders of the related Lower Tier Regular Classes in the respective amounts and in the applicable manner determined pursuant to Section 2.02. In the event that the amount on deposit in the Certificate Account on any Distribution Date shall be less than the applicable portion of the Lower Tier Distribution Amount distributable thereon, Xxxxxx Mae shall provide from its own funds the amount of any such insufficiency. In addition, in the event that (i) the applicable portion of the Lower Tier Distribution Amount shall be insufficient to pay all interest due and payable on the related Lower Tier Regular Classes on such Distribution Date or (ii) such Distribution Date is a Final Distribution Date for any Class and the distribution on such Distribution Date of the applicable portion of the Lower Tier Distribution Amount will not be sufficient to reduce the Class Balance of such Class to zero on such Final Distribution Date, then Xxxxxx Xxx shall (a) withdraw from the Certificate Account, such amount as shall be necessary to remedy such insufficiency and (b) to the extent that funds in the Certificate Account shall be insufficient therefor, apply its own funds towards remedying the same.

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