Cleared funds. For the purpose of this Bank Agreement, Subscription Payments shall constitute "Cleared Funds" in accordance with the following: (a) if paid by wire transfer, such funds shall constitute Cleared Funds on the date received by the Bank; (b) if paid by check drawn on a New York Clearing House Bank, such funds shall constitute Cleared Funds on the second Business Day following the date received by the Bank; and (c) if paid by check drawn on any bank other than a New York Clearing House Bank, such funds shall constitute Cleared Funds on the third Business Day following the date received by the Bank.
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Samples: Bank Agreement (Grand Court Lifestyles Inc), Bank Agreement (Grand Court Lifestyles Inc), Bank Agreement (Grand Court Lifestyles Inc)
Cleared funds. For the purpose of this Bank Agreement, Subscription Payments shall constitute "Cleared Funds" in accordance with the following:
(a) if paid by wire transfer, such funds shall constitute Cleared Funds on the date received by the Bank;:
(b) if paid by check drawn on a New York Clearing House Bank, such funds shall constitute Cleared Funds on the second Business Day following the date received by the Bank; and
(c) if paid by check drawn on any bank other than a New York Clearing House Bank, such funds shall constitute Cleared Funds on the third Business Day following the date received by the Bank.
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