Company Account the current account of the Company in a credit institution, an account in an electronic payment system and other accounts.
Company Account. The Closed-End Servicer will establish and maintain, in the name of the Titling Trust, and with respect to the Closed-End Collateral Specified Interest, a Deposit Account to be designated as the “World Omni LT Company Account.” The Company Account shall be under the sole dominion and control of the Initial Beneficiary; provided, however, that, so long as World Omni shall remain the Closed-End Servicer or the Titling Trust Administrator, World Omni (acting in such capacity) shall have the right to make deposits to, and withdrawals from, such account, in a manner not inconsistent with the terms of this Closed-End Servicing Agreement and the other Basic Documents. Notwithstanding the foregoing, the rights of the Initial Beneficiary and the Closed-End Servicer with respect to control over the Company Account as set forth in this subsection (c) shall be subject to the right of the Closed-End Collateral Agent to exercise sole dominion and control over the Company Account, under the circumstances set forth in the Collateral Agency Agreement and the Company Account Agreement. No funds other than funds constituting Closed-End Warehouse Collections and any other amounts withdrawn from the Lease Funding Account and deposited therein, proceeds of such funds and Permitted Investments shall be deposited into the Company Account.
Company Account. As between Company and the Bank, Company is solely responsible for all losses due to transactions by a Sponsored Member, such as losses resulting from chargeback, fraud, bankruptcy, or similar events. To the extent there are insufficient funds in the Company Account to pay such expenses, Bank shall notify Company in writing of the deficiency and Company shall promptly deposit losses in the Company Account sufficient to pay those losses. Bank may setoff losses from amounts otherwise due Company hereunder; provided that, Company shall not be liable for (i) losses arising out negligent acts or omissions or misconduct of Bank, or breach by Bank of this Agreement and (ii) losses arising out of claims which are subject to indemnification by Bank under this Agreement.
Company Account. The Bank shall open and maintain in its trust department an account in the name of the Company, subject only to draft or order of the Bank, in which the Bank shall enter and carry all cash of the Company which is delivered to it.
Company Account. Company will at all times maintain sufficient available funds in the Company Account to pay the amount of all Entries, returned or reversed Debit Entries, Adjustment Entries, fees and other amounts which Company is obligated to pay Bank under this Agreement. Bank, in its sole discretion, may require Company to have sufficient available funds in Company Account to cover the amount of a Credit Entry prior to Bank’s transmittal of such Credit Entry to an ACH or Bank’s crediting of a Receiver’s account in the amount of an On-Us Entry. In the absence of such a requirement, Company will be obligated to have sufficient available funds in the Company Account at such time on a Settlement Date with respect to such Credit Entry, or in the case of an On-Us Entry, the date of crediting the Receiver’s account, as Bank, in its sole discretion, may determine. Bank, in its sole discretion, may defer any credit to the Company Account with respect to a Debit Entry until it has received final settlement for such Entry. Any credit provided prior to that time will be provisional and Bank will have the right to immediate payment by Company upon Bank’s receipt of notice that final settlement has not occurred. In addition, Bank will have the right to payment by Company of the amount of any returned or rejected Entry for which Company has previously received credit upon its receipt by Bank. Bank may, without prior notice or demand, obtain payment of any amount due and payable to it under this Agreement by debiting the Company Account, and may credit the Company Account for any amount to which Company is entitled under this Agreement. If there are insufficient funds available in the Company Account to pay amounts Company owes Bank under this Agreement, Company will pay any amounts due immediately upon demand, and Company agrees that Bank may debit any account maintained by Company with Bank or that Bank may set off against any amount it owes to Company, in order to obtain payment of Company’s obligation under this Agreement. Company grants to Bank a security interest in the Account(s) and in any other deposits, funds or accounts, established or maintained at Bank, and in all funds on deposit in the same (including proceeds of Entries and other funds pending settlement through the Account), to secure each of Company’s obligations under this Agreement. This security interest will survive termination of this Agreement.
Company Account. The Company Account will be opened for and on behalf of the Company to:
Company Account. A Participant may withdraw all of the value of his Company Account by filing a written notice with the Trustee; provided, however, that a Participant may not withdraw any Employer Contributions (or earnings thereon) which are treated as deferred salary contributions for purposes of satisfying the Actual Deferral Percentage test. In this event, however, he shall be deemed to have suspended participation in the Plan for a period of 6 months, and all deferred salary contributions shall be suspended. The effective date of such written notice shall be the date the notice is received by the Trustee or a date subsequent thereto if the Participant so states in the written notice.
Company Account. As between Company and the Bank, Company is solely responsible for all Losses with respect to the Merchant Program from whatever nature or source whether chargeback, fraud, bankruptcy, Losses on ACH transactions for Merchants or Company, or otherwise. To the extent there are insufficient funds in the Company Account to pay such expenses, Bank shall notify Company in writing of the deficiency and Company shall promptly deposit funds in the Company Account sufficient to pay those Losses, or Bank may utilize funds in the Company Reserve Account for this purpose. Bank may setoff Losses from amounts otherwise due Company hereunder; provided that, Company shall not be liable for Losses arising out of claims which directly result from Material breach by Bank of its obligations hereunder involving no Material failure by Company to perform its obligations hereunder and no Material failure by any of the third parties referred to in Section 2.1, Article III or Exhibit 2.2(H) to perform their obligations under the applicable agreements or the Rules, the ACH Rules or Applicable Law.
Company Account. Company will maintain an operating account with Bank (the “Company Account”) for the purpose of receiving discount rates, fees and other amounts due Company pursuant to the Sponsored Agreements. Bank shall transfer such amounts to the Company Account from the Settlement Account at the times mutually agreed upon but no less than monthly. Company will use its commercially reasonable efforts to maintain a positive balance in the Company Account at all times, provided, however, that in the event the Company fails to maintain a positive balance in the Company Account, Company shall pay interest to the Bank on the amount and for the duration of any negative balance in the Company Account at an interest rate equivalent to **** at such time. To the extent Company owes Bank fees under this Agreements, Bank may satisfy such obligations from the Settlement Account or the Company Account.
Company Account. Persons designated by Manager (and approved by the Company's Board of Directors) shall be authorized to draw checks or drafts upon and make withdrawals from a bank account in the name of the Company for Company expenditures up to such amount and according to procedures as may be determined by the Board of Directors of the Company.
