COLLECTION OF INCOME AND PRINCIPAL Sample Clauses

COLLECTION OF INCOME AND PRINCIPAL. The Custodian shall from time to time take necessary action(s) to collect dividends, interest payments, payments made on account of called and matured Financial Assets, and any other payments with respect to such Financial Assets deposited into or held or maintained in the Custody Account, when such payments shall become owing; provided that so long as Custodian's actions are in compliance with the standard of care set forth in Section 7.17, Custodian shall not be responsible for failure to receive payment of (or late payment of) distributions with respect to Financial Assets or other property held in the Custody Account. Upon receipt of such funds collected hereunder, Custodian will use its best efforts to deposit such collected funds into the Custody Account on the same business day upon which such collected funds are received by the Custodian. Accordingly, in making collections of income or principal hereunder, the Custodian may to the extent necessary or required by any applicable law of any sovereign body, including the United States, or a State, and solely to such extent, execute on behalf of the Fund certificates or other like documents. All cash shall be held and maintained in the Custody Account subject to further instruction from the Fund. In the event the Custody Account is credited by the Custodian in anticipation of the Custodian's collection of monies, and the Custodian is unable to collect such monies, the Fund agrees that it shall promptly upon telephonic notice from the Custodian, return an amount equal to the amount so credited and not collected to the Custodian in immediately available funds.
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COLLECTION OF INCOME AND PRINCIPAL. The Securities Intermediary shall collect income and principal becoming due on the assets in the Securities Account, but shall be under no responsibility or duty to undertake collection efforts or to instigate or participate in any legal proceedings or to retain counsel in an effort to accomplish such collection. The Securities Intermediary shall advise the Owner and the Trustee within a reasonable time of any non-payment of principal or income. Any income received shall be disposed of as set forth in the Pledge Agreement and the Disbursement Agreement.
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COLLECTION OF INCOME AND PRINCIPAL. CSTC shall collect the income when paid on Property and principal of Property when paid on maturity, redemption, sale or otherwise and invest it in accordance with Section 4. CSTC shall make reasonable efforts to diligently collect income and principal of which CSTC has received actual notice in accordance with normal industry practices. CSTC shall be under no duty to take any action to effect collection of any amounts with respect to which payment is in default or if payment is refused after due demand. CSTC shall notify the Authorized Person of any default or refusal to pay.
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COLLECTION OF INCOME AND PRINCIPAL. The Trustee will collect the income when paid on Trust Assets and principal of Trust Assets when paid on maturity, redemption, sale or otherwise and invest it in accordance with Articles 2 and 3. The Trustee will make reasonable efforts to diligently collect income and principal of which the Trustee has received actual notice in accordance with normal industry practices. The Trustee will be under no duty to take any action to effect collection of any amounts with respect to which payment is in default, or if payment is refused after due demand. The Trustee will notify the Company or the investment manager appointed in accordance with Article 2.4 (an “Investment Manager”) of any default or refusal to pay.
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COLLECTION OF INCOME AND PRINCIPAL. The Company shall collect income and principal becoming due on the assets in the Accounts but shall be under no responsibility or duty to undertake collection efforts or to instigate or participate in any legal proceedings or to retain counsel in an effort to accomplish such collection. The Company shall advise Owner and the Trustee within a reasonable time of any non-payment of principal or income. Any income received shall be disposed of as set forth in the Pledge Agreement.
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Related to COLLECTION OF INCOME AND PRINCIPAL

  • Collection of Income The Custodian shall use reasonable commercial efforts to collect all income and other payments with respect to the Foreign Assets held hereunder to which the Portfolios shall be entitled and shall credit such income, as collected, to the applicable Portfolio. In the event that extraordinary measures are required to collect such income, the Fund and the Custodian shall consult as to such measures and as to the compensation and expenses of the Custodian relating to such measures.

  • Disposition of Income During the term of this Trust, all income received by the Trust, net of expenses and taxes, shall be accumulated and reinvested.

  • Collection of Income and Other Payments (A) collect and receive for the account of each Portfolio, all income, dividends, distributions, coupons, option premiums, other payments and similar items, included or to be included in the Property, and, in addition, promptly advise each Portfolio of such receipt and credit such income, as collected, to each Portfolio's custodian account; (B) endorse and deposit for collection, in the name of the Fund, checks, drafts, or other orders for the payment of money; (C) receive and hold for the account of each Portfolio all securities received as a distribution on the Portfolio's securities as a result of a stock dividend, share split-up or reorganization, recapitalization, readjustment or other rearrangement or distribution of rights or similar securities issued with respect to any securities belonging to a Portfolio and held by PFPC Trust hereunder; (D) present for payment and collect the amount payable upon all securities which may mature or be, on a mandatory basis, called, redeemed, or retired, or otherwise become payable on the date such securities become payable; and (E) take any action which may be necessary and proper in connection with the collection and receipt of such income and other payments and the endorsement for collection of checks, drafts, and other negotiable instruments.

  • Payments of Principal If an Early Amortization Period has not begun, on the Expected Final Payment Date, or on each Payment Date for an Early Amortization Period, and if the Indenture Trustee has received the Monthly Investor Report by the related Determination Date, the Indenture Trustee (based on the information in the Monthly Investor Report) will withdraw an amount up to the aggregate Note Balance of Series 20 - from the Series 20 - Principal Funding Account for payment in the following order of priority: (i) to the Noteholders of [the][each Class of] Class A Notes, [pro rata based on the principal amount of each Class of Class A Notes,] until the Note Balance of [the][each Class of] Class A Notes is reduced to zero, (ii) to the Noteholders of Class B Notes, until the Note Balance of the Class B Notes is reduced to zero, (iii) to the Noteholders of the Class C Notes, until the Note Balance of the Class C Notes is reduced to zero and (iv) to the Noteholders of the Class D Notes, until the Note Balance of the Class D Notes is reduced to zero.

  • Collection of Items We act only as your agent and we are not responsible for handling items for deposit or collection beyond the exercise of ordinary care. We are not liable for the negligence of any correspondent or for loss in transit, and each correspondent will only be liable for its own negligence. We may send any item for collection. Items drawn on an institution located outside the United States are handled on a collection basis only. You waive any notice of nonpayment, dishonor, or protest regarding items we purchase or receive for credit or collection to your account. We reserve the right to pursue collection of previously dishonored items at any time, including giving a payor financial institution extra time beyond any midnight deadline limits.

  • Protection of Investments 1. All investments made by investors of either Contracting Party shall enjoy, in the territory of the other contracting party fair and equitable treatment. 2. Subject to the measures necessary for the maintenance of public order, such investments will enjoy a constant protection and security, excluding any unjustified or discriminatory measure which could adversely affect, in law or in fact, management, maintenance, use, enjoyment or disposal of such investments.

  • COLLECTION OF CHARGES 16.1 A Sector Association may request the consent of the Administrator to collect charges due from Operators to the Administrator in respect of facilities under the charging scheme. 16.2 If a Sector Association wishes to collect charges due from an Operator to the Administrator under the charging scheme, the Sector Association may serve a notice in writing on the Administrator by the last working day in February in the calendar year in which the charges fall due. 16.3 A notice served under Rule 16.2 must specify the facilities in respect of which the Sector Association intends to collect charges, being not fewer than 50% of the facilities covered by an umbrella agreement. 16.4 Following receipt of the notice, the Administrator must: 16.4.1 consent to the Sector Association collecting charges; or 16.4.2 refuse consent to the Sector Association collecting charges, giving reasons for the decision. 16.5 If the Administrator consents to the Sector Association collecting charges the Sector Association must: 16.5.1 itemise charges separately in any invoices that it issues in respect of charges; 16.5.2 collect and remit all charges collected to the Administrator without deduction or set off by the last working day in September in each year; 16.5.3 prepare an annual report to the Administrator by the last working day in October in the year in which it has collected charges setting out which Operators it has collected charges from and which Operators have failed to pay charges due to the Sector Association. 16.6 A Sector Association must not actively pursue any outstanding charges after the last working day in September in any year in which they fall due. If a Sector Association receives charges after this date the Sector Association must accept the payment and remit this to the Environment Agency along with information identifying the Operator making the payment. 16.7 If a Sector Association fails to comply with any of its obligations under this Rule the Administrator may serve a notice on the Sector Association that consent to the Sector Association continuing to collect charges is withdrawn at the expiry of 20 working days from the date of the notice.

  • Application of Insufficient Payments If at any time insufficient funds are received by and available to the Administrative Agent to pay fully all amounts of principal, unreimbursed LC Disbursements, interest and fees then due hereunder, such funds shall be applied (i) first, towards payment of interest and fees then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of interest and fees then due to such parties, and (ii) second, towards payment of principal and unreimbursed LC Disbursements then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of principal and unreimbursed LC Disbursements then due to such parties.

  • Payment of Debt or Delinquency to the State Pursuant to §§2107.008 and 2252.903, Texas Government Code, Contractor agrees any payments owing to Contractor under this Agreement may be applied directly toward any debt or delinquency Contractor owes the State of Texas or any agency of the State of Texas, regardless of when it arises, until paid in full.

  • Past Due Accounts Accounts that are not paid within the earlier of sixty (60) days following its due date or ninety (90) days following its original invoice date;

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