Clearing Accounts. The Fund shall open and/or maintain such bank account or accounts as shall reasonably be required by OSS for controlling payments, the disbursement of dividends, capital gains distributions and share redemption payments pursuant to the provisions hereof, and any other accounts deemed necessary by OSS or the Fund to carry out the provisions of this Agreement, with a bank or banks selected by OSS with the prior approval of the Fund's Board. Such account may be an omnibus account used for all Funds for which OSS or one of its subsidiaries acts as transfer agent. The Fund shall authorize officers or employees of OSS to act as authorized signatories to disburse funds held in such accounts. OSS shall be accountable to the Fund for the management of such accounts by OSS (and the funds at any time on deposit therein).
Clearing Accounts. (a) Each US$ Bank irrevocably authorizes the Administrative Agent and CASG to cause such Bank's Clearing Account to be debited as contemplated in Section 2.2 and to cause to be created an overdraft in such account if the balance in such Bank's Clearing Account on a particular Borrowing Date is less than the amount of the U.S. Loan to be made by such Bank on such day. In addition each US$ Bank irrevocably authorizes the Administrative Agent and CASG to cause such Bank's Clearing Account to be credited with its ratable share of payments received by the Administrative Agent from CFC. The Clearing Account of each US$ Bank shall be maintained at its own expense and free of charge to the Administrative Agent, CASG and CFC.
(b) The Administrative Agent may at any time in its sole discretion, upon prior notice to CFC and the US$ Banks, discontinue the use of ACH procedures in connection with U.S. R/C Loans made pursuant hereto, and the US$ Banks shall thereafter fund each U.S. Loan required to be made by them hereunder by making available the amount thereof to the Administrative Agent for the account of CFC at the office of the Administrative Agent set forth in Section 12.2 in funds immediately available to the Administrative Agent.
Clearing Accounts. (a) Each Borrower shall establish and maintain a segregated Eligible Account (individually or collectively, as the context may require, the “Clearing Account”) with the Clearing Bank in trust for the benefit of Lender in accordance with the terms hereof and of the Clearing Account Agreements, which Clearing Accounts shall be under the sole dominion and control of Lender. The Clearing Accounts shall be entitled “[APPLICABLE BORROWER], as pledgor, for the benefit of Cantor Commercial Real Estate Lending, L.P., as Secured Party – Clearing Account,” or such other name as required by Lender from time to time. Borrower (i) hereby grants to Lender a first priority security interest in the Clearing Accounts and all deposits at any time contained therein and the proceeds thereof, and (ii) will take all actions necessary to maintain in favor of Lender a perfected first priority security interest in the Clearing Accounts, including, without limitation, the execution of any account control agreement required by Lender. Borrower will not in any way alter, modify or close the Clearing Accounts and will notify Lender of the account numbers thereof. Except as may be expressly permitted in the Clearing Account Agreements, Lender and Servicer shall have the sole right to make withdrawals from the Clearing Accounts and all costs and expenses for establishing and maintaining the Clearing Accounts shall be paid by Borrower. All monies now or hereafter deposited into the Clearing Accounts shall be deemed additional security for the Debt.
(b) Borrower shall, or shall cause Manager to, deliver duly executed Tenant Direction Letters to all Tenants under Leases which shall instruct each such Tenant to deliver all Rents payable thereunder directly to the applicable Clearing Account. Borrower shall, and shall cause Manager to, deposit into each applicable Clearing Account within one (1) Business Day after receipt all amounts received by Borrower or Manager constituting Rents. The Clearing Account Agreements and Clearing Accounts for each Borrower shall remain in effect until the Loan has been repaid or defeased in full with respect to all of the Property owned by such Borrower.
(c) During any Cash Management Period, Borrower shall cause the Clearing Bank to transfer to the Cash Management Account in immediately available funds by Federal wire transfer all amounts on deposit in the Clearing Accounts once every Business Day. If a Cash Management Period has not occurred or ceases to exi...
Clearing Accounts. The Bank shall maintain cash clearing accounts necessary to settle amounts paid and received on the Accounts prior to their posting on the system of the An asterisk (*) indicates that certain information has been omitted from this agreement pursuant to a request for confidential treatment and has been filed separately with the Securities and Exchange Commission.
Clearing Accounts. Following the Closing, Buyer, or one of its subsidiaries or affiliates, shall monitor the Clearing Account and shall, upon identifying funds deposited in the Clearing Account after Closing (that were not otherwise delivered to Buyer pursuant to Section 5.14) relating to the Client Accounts (the “Client Funds”), make a request to Xx. Xxxxxx and Xx. Xxxxxx (or their respective successor designees) for HTC to transfer the Client Funds to Buyer. HTC shall, as soon as reasonably practicable after receiving such a request from Buyer, deliver to Buyer Account, via wire transfer of immediately available funds, the Client Funds.
Clearing Accounts. During the term of this Agreement, Schwab will carry, for purposes of clearing transactions in open-end investment company shares, or shares of a series or class thereof (hereinafter referred to as “mutual funds” or a “Fund”), one or more brokerage clearing accounts, which may contain multiple sub-accounts, of Correspondent (the “Clearing Accounts”) on an omnibus or other basis on behalf of Correspondent’s customers, as defined in Rule 15c3-3(a)(l) of the Securities Exchange Act of 1934 (the “1934 Act”), including the customers of introducing brokers clearing through Correspondent on a fully disclosed basis (“Initial Correspondents”) (collectively, “Customers”). References herein to Clearing Accounts shall be deemed to include the Customer sub-accounts (hereinafter, “Customer Sub-Accounts”).
Clearing Accounts. Schwab will carry the Clearing Accounts on an omnibus or other basis on behalf of Correspondent’s customers. Schwab shall designate each of the Clearing Accounts with Correspondent’s name “for the Exclusive Benefit of Customers”, Correspondent’s tax identification number, and an account number. The account numbers will be the means of identification when the parties are transacting in the Clearing Accounts.
Clearing Accounts. (a) Obligors shall establish and maintain with respect to each Property, with one or more depository institutions reasonably satisfactory to Lender, an account for the receipt of Rents, including without limitation credit card receivables (each, a "Clearing Account"). Each Clearing Account shall be an Eligible Account in the name of Obligors as debtor and Lender as secured party. Obligors shall cause such depository institutions to forward monthly statements of such accounts to Lender. Funds in the Clearing Accounts shall not be commingled with any other monies at any time.
(b) Obligors hereby covenant to cause all Rents (including, without limitation, proceeds of business interruption insurance and credit card receivables) and all other moneys, cash, rights to deposit or savings accounts or other items of legal tender obtained from or for use in connection with the ownership or operation of the Properties to be deposited in the respective Clearing Accounts within 24 hours of receipt by the applicable Property Manager.
(c) Obligors shall make no withdrawals from the Clearing Accounts, and Obligors shall not permit disbursement of any funds therefrom; provided, that on a daily basis, Obligors shall be required under the Clearing Account Agreement to cause the balance of such Clearing Accounts to be remitted into the Deposit Account.
(d) On or prior to the Closing Date, Obligors shall execute and deliver to Lender, and cause each bank in which a Clearing Account is located to execute and deliver to Lender, a Clearing Account Agreement. In the event any bank in which a Clearing Account is located fails to comply therewith, Obligors will promptly move such Clearing Account to a bank which satisfies the applicable requirements set forth in the definition of Eligible Account and which will promptly execute and deliver to Lender such a Clearing Account Agreement.
Clearing Accounts. 4.1 In order to facilitate the settlement of monetary transactions and the payment of all fees incurred hereunder, Customer agrees to establish and maintain a Clearing Account with a financial institution acceptable to Elan. Customer agrees to maintain at all times in such Clearing Account an amount sufficient to pay all fees incurred hereunder, including the fees established in Exhibit B attached hereto. Customer agrees to promptly notify Elan of any errors or differences in settlement of accounts within ninety (90) days of such error or difference for any such discrepancies to be investigated by Elan, and to thereafter be subject to adjustment.
4.2 Customer agrees that all settlements to Customer’s Clearing Account shall be subject to final audit by Elan, and Customer agrees that Elan may, upon notice to Customer, charge or credit Customer’s Clearing Account for any deficiencies, overages, or other amounts due Elan pursuant to this Agreement. Additionally, Customer agrees that Elan may deduct any such amounts from settlement funds due to Customer under and pursuant to this Agreement, prior to Elan’s settling such funds to the Clearing Account.
Clearing Accounts. (Verrechnungskonten);
