Collections and Defaults Sample Clauses
The "Collections and Defaults" clause outlines the procedures and rights related to collecting payments and handling defaults under an agreement. It typically specifies what constitutes a default, such as missed payments or breaches of contract, and details the steps the creditor or service provider may take to recover owed amounts, including sending notices, charging late fees, or initiating legal action. This clause serves to protect the party owed money by providing clear remedies and processes in the event of non-payment, thereby reducing uncertainty and encouraging timely fulfillment of financial obligations.
Collections and Defaults. The Bank will use reasonable efforts to collect any funds which may to its knowledge become collectible arising from Portfolio Securities, including dividends, interest and other income, and to transmit to the Fund notice actually received by it of any call for redemption, offer of exchange, right of subscription, reorganization or other proceedings affecting such Securities. If Portfolio Securities upon which such income is payable are in default or payment is refused after due demand or presentation, the Bank will notify the Fund in writing of any default or refusal to pay within two business days from the day on which it receives knowledge of such default or refusal.
Collections and Defaults. The Bank will use all reasonable efforts to ------------------------ collect any funds that may to its knowledge become collectible arising from Portfolio Securities, including dividends, interest and other income, and to transmit to the Trust, on behalf of a Master Portfolio, notice actually received by the Bank of any call for redemption, offer of exchange, right of subscription, reorganization or other proceedings affecting such Portfolio Securities. If Portfolio Securities upon which such income is payable are in default or payment is refused after due demand or presentation, the Bank will notify the Trust, on behalf of a Master Portfolio, in writing of any default or refusal to pay within two business days from the day on which it receives knowledge of such default or refusal. In addition, the Bank will send the Trust a written report once each month showing any income on any Portfolio Security held by Bank on behalf of a Master Portfolio that is more than ten days overdue on the date of such report.
Collections and Defaults. The Bank will use reasonable efforts to collect any funds which may to its knowledge become collectible arising from Portfolio Securities, including dividends, interest and other income, and to transmit to the Fund notice actually received by it of any call for redemption, offer of exchange, right of subscription, reorganization or other proceedings affecting such Securities. If Portfolio Securities upon which such income is payable are in default or payment is refused after due demand or presentation, the Bank will notify the Fund in writing of any default or refusal to pay within two business days from the day on which it receives knowledge of such default or refusal. The Bank shall provide to the Fund a monthly report, in a form agreed to by the Bank and the Fund, listing, among other things, overdue or uncollected items.
Collections and Defaults. 13 11. Maintenance of Records and Accounting Services......................14
Collections and Defaults. The Bank will use all reasonable efforts to collect any funds which may to its knowledge become collectible arising from Portfolio Securities, including dividends, interest and other income, and to transmit to the Trust notice actually received by it of any call for redemption, offer of exchange, right of subscription, reorganization or other proceedings affecting such Securities. If Portfolio Securities upon which such income is payable are in default or payment is refused after due demand or presentation, the Bank will notify the Trust in writing of any default or refusal to pay within two business days from the day on which it receives knowledge of such default or refusal. In addition, the Bank will send the Trust a written report once each month showing any income on any Portfolio Security held by it which is more than ten days overdue on the date of such report and which has not previously been reported.
Collections and Defaults. The Bank will use reasonable efforts to ------------------------ collect any funds which may to its knowledge become collectible arising from Portfolio Securities, including dividends, interest and other income, and to transmit to the Fund notice actually received by it of any call for redemption, offer of exchange, right of subscription, reorganization or other proceedings affecting such Securities. If Portfolio Securities upon which such income is payable are in default or payment is refused after due demand or presentation, the Bank will notify the Fund in writing of any default or refusal to pay in accordance with the time limits set forth in the SLA.
Collections and Defaults. The Bank will use reasonable efforts to collect any funds which may to its knowledge become collectible arising from Portfolio Securities (including dividends, interest, and other income) and to transmit to a Fund notice received by it of any call for redemption, offer of exchange, right of subscription, reorganization, or other proceedings affecting such Portfolio Securities. If Portfolio Securities upon which such income is payable are in default or payment is refused after due demand or presentation, the Bank will promptly notify the Fund of any such default or refusal to pay.
Collections and Defaults. The Bank will use all reasonable efforts to collect any funds which to its knowledge become collectible arising from Portfolio Securities, including
Collections and Defaults. The Bank will use all reasonable effort to ------------------------ collect any funds which may to its knowledge become collectible arising from Portfolio Securities, including dividends, interest and other income, and to transmit to the Trust notice actually received by it of any call for redemption, offer of exchange, right of subscription, reorganization or other proceedings affecting such Securities. If Portfolio Securities upon which such income is payable are in default or payment is refused after due demand or presentation, the Bank will notify the Trust in writing of any default or refusal to pay within two business days from the day on which it receives knowledge of such default or refusal. In addition, the Bank will send the Trust a written report once each month showing any income on any Portfolio Security held by it which is more than ten days overdue on the date of such report and which has not previously been reported.
Collections and Defaults. The Bank will use all reasonable efforts to collect any funds which may to its knowledge become collectible arising from Portfolio Securities, including dividends, interest and other income, and to transmit to the Trust notice actually received by it of any call for redemption, offer of exchange, right of subscription, reorganization or other proceedings affecting such Securities. Absent the default of the payer of such income, the Bank will credit the Trust with the appropriate amount if such income remains past due beyond a specified number of days. The exact number of days may be agreed upon and modified from time to time by written agreement between the Bank and the Trust. Such agreement will be attached to this Agreement as Schedule B. If Portfolio Securities upon which such income is payable are in default or payment is refused after due demand or presentation, the Bank will notify the Trust in writing of any default or refusal to pay within two business days from the day on which it receives knowledge of such default or refusal. In addition, the Bank will send the Trust a written report once each month showing any income on any Portfolio Security held by it which is more than ten days overdue on the date of such report.