Cash Management Program. Xxxxxx has established a Cash Management Program as described herein ("CMP"). To reduce the amount of interest payable to Lender, Borrower may make payment to Lender of funds pursuant to the CMP, which shall be held by Lender as cash collateral ("CMP Funds"). By making payment of CMP Funds, Borrower warrants and represents to Lender that such CMP Funds belong to, and are the property of, Borrower, and that such CMP Funds are unencumbered. It shall be conclusively presumed that such CMP Funds are not subject to claim or lien of any kind whatsoever. Upon demand by Xxxxxx, Borrower shall provide to Lender documentation of the source of funds used to make payment of CMP Funds. Each payment of CMP Funds shall be in an amount not less than the CMP Minimum Payments set forth in the Operative Schedule 1.
Cash Management Program. DriveWealth offers automatic investment or deposit (“sweep”) of available free credit (cash) balances in your Account pursuant to the terms of our cash management program. The sweep program available to your Account may vary based on the elections available through Introducing Firm, and by opening the Account you are agreeing to the selected cash management program. DriveWealth charges Introducing Firm fees for the services that we provide to Introducing Firm. DriveWealth may receive compensation from your decision to transact in certain securities. You understand that Introducing Firm may select the Cash Management Program available for your Account and, as a result, DriveWealth may earn compensation on your available free credit balances. More information on DriveWealth’s compensation is available in our Form CRS. By participating in a sweep program you authorize DriveWealth to deposit or invest available free credit balances, and to withdraw funds from or liquidate shares in, your sweep option pursuant to the terms of the cash management program elected for your Account. If available cash balances in your Account are not swept for any reason, available cash balances will not be invested, and we are not required to pay interest on such cash balances. DriveWealth’s current sweep options, the yields associated with the sweep options, and eligibility requirements are available in the Cash Management Program Disclosure Statement - Bank Sweep. DriveWealth will notify you in writing if new Cash Management Programs are made available or there are material changes to the offered Cash Management Programs.
Cash Management Program. DriveLoyalty offers automatic investment or deposit (“sweep”) of available free credit (cash) balances in your Account pursuant to the terms of our cash management program and by opening the Account you are agreeing to the selected cash management program. DriveLoyalty and/or its Affiliates charge fees for these services and we may earn compensation on your available free credit balances and may receive compensation from your decision to transact in certain securities. More information on DriveWealth’s compensation is available in our Form CRS. By participating in a sweep program you authorize DriveLoyalty to deposit or invest available free credit balances, and to withdraw funds from or liquidate shares in, your sweep option pursuant to the terms of the cash management program elected for your Account. If available cash balances in your Account are not swept for any reason, available cash balances will not be invested, and we are not required to pay interest on such cash balances. DriveLoyalty’s current sweep options, the yields associated with the sweep options, and eligibility requirements are available in the Cash Management Program Disclosure Statement - Bank Sweep. We will notify you in writing if new Cash Management Programs are made available or there are material changes to the offered Cash Management Programs.
