Control of Account Sample Clauses

Control of Account. The Participant: • Retains control of how and when Account assets are used. • May change the Designated Beneficiary. • May take Non-Qualified Withdrawals, subject to applicable federal and state income taxes on earnings and potentially a 10% additional federal tax on earnings. Page 19 Contributions Initial Contribution -$25 minimum (no minimum when funding an Account through payroll deduction or automated Contributions and in certain other circumstances). Page 17 Subsequent Contributions - No minimum. Maximum Contribution Limit $500,000 per Designated Beneficiary (adjusted periodically). Page 18 Qualified Withdrawals Assets in an Account that are used to pay for Qualified Higher Education Expenses (as defined herein, which term includes a limited amount of expenses for primary or secondary school tuition) of the Designated Beneficiary (or sibling of the Designated Beneficiary with respect to the repayment of qualified education loans.) Qualified Higher Education Expenses may differ for federal and state income tax purposes. Page 24 Investment Changes Once you have contributed to an Account in the Program and allocated your Contributions to one or more investment options, you may move any or all of your Account balance to one or more different investment options twice per calendar year, or if you change the Designated Beneficiary on your Account to a Member of the Family of the current Designated Beneficiary. Page 20 Investment Options 12 investment options, including 10 managed by BlackRock, as well as the Principal Plus Portfolio and the NextGen Savings Portfolio: • 2 Age-Based Diversified Portfolios • 5 Diversified Portfolios • 3 Single Fund Portfolios • 1 Principal Plus Portfolio • 1 NextGen Savings Portfolio Pages 28-29 Fees and Charges Total Annual Asset-Based Fees, which include Program fees and Underlying Fund expenses, vary based on the Portfolio option selected. *As a percentage of a Portfolio’s average annual net assets. • Other fees and charges may apply. • Underlying Fund expenses are subject to change, affecting Total Annual Asset-Based Fees. Pages 32-36 Investment Risks and Other Considerations • Assets in an Account are not guaranteed, and an Account may lose money. • Federal and state tax laws may change and may adversely affect certain tax advantages of an investment in the Program. • Investment options, Sub-Advisors, fees and expenses may change. • Contributions to an Account may affect the eligibility of the Designated Beneficiary or the...
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Control of Account. Pledgors acknowledge that Depository is the bank with which the Collateral Account is maintained pursuant to Section 9-104(a) of the Uniform Commercial Code and that Secured Party has control of the Collateral Account and Depository shall comply with the instructions originated by Secured Party directing the disposition of funds in the Collateral Account and any entitlement orders from Secured Party without further consent by the Pledgors. Secured Party is authorized to give instructions and entitlement orders to Depository as Secured Party deems necessary to effectuate this Agreement. Texas shall be deemed to be the location and jurisdiction (within the meaning of Section 9 304 of the Uniform Commercial Code) of Depository and the Collateral Account.
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Control of Account. The Agent agrees that it shall not exercise any right to take control of the Collection Accounts or the Lock-Box, or give any instructions to any depository bank or financial institution holding such accounts as to the disposition of funds in such accounts or as to any other matter relating to such accounts unless a Termination Event has occurred and is continuing.
Sample 1
Control of Account. The Company hereby authorizes and directs Depository Bank to comply, and Depository Bank agrees to comply, with instructions originated by Secured Party in accordance with this Agreement and the Security Agreement directing the disposition of funds from time to time in the Account or as to any other matters relating to the Account without further consent by the Company, but subject to the terms of this Agreement and the Security Agreement. Depository Bank shall permit transactions in the Account by notices given in accordance with Section 1 hereof (it being understood that the Depository Bank shall have no obligation to verify the accuracy of such notices) at the direction of the Company or the Company’s authorized representatives until such time as Secured Party delivers written notice (the “Notice of Exclusive Control”) to Depository Bank that (i) the Company has failed to pay any Obligation (as defined in the Security Agreement) when due, whether in cash or in kind as permitted pursuant to the Certificate of Designation, and such failure to pay continues for a period of at least five (5) Business Days, or a Liquidation Event has occurred with respect to the Company and (ii) Secured Party is thereby exercising exclusive control over the Account. The Company and Secured Party acknowledge and agree that Secured Party shall not be entitled to deliver a Notice of Exclusive Control until a Company fails to pay any Obligation (as defined in the Security Agreement) when due, whether in cash or in kind as permitted pursuant to the Certificate of Designation, and such failure to pay continues for a period of at least five (5) Business Days, or a Liquidation Event has occurred. Not later than the next business day after the date of receipt of the Notice of Exclusive Control with respect to items presented through the Federal Reserve System, local clearinghouses, or automated clearinghouses, and not later than the second business day after the date or receipt of the Notice of Exclusive Control with respect to items presented for payment or acceptance over the counter, Depository Bank will cease complying with orders or directions concerning disposition of funds in the Account initiated by the Company or the Company’s authorized representatives. Any Notice of Exclusive Control received after 2:00 p.m. New York time shall be deemed to have been received on the next business day. Depository Bank will use the Fedwire system to make any funds transfer from the Account t...
Sample 1
Control of Account. The Account shall be under the sole dominion and control of Creditor and shall be maintained by Bank in the name of "Labor Ready, Inc." Debtor shall not have any control over the use of, or any right to withdraw any amount from, the Account. Upon receipt of written instructions to do so from Creditor, the Bank shall immediately transmit by federal funds wire transfer all funds then on deposit in the Account to such other deposit account as Creditor may specify in such instructions.
Sample 1
Control of Account. The parties agree that this Agreement is, among other things, a “control” agreement under the UCC. Upon receipt by Bank of a notice purporting to be signed and sent by Lender in the form attached hereto as Exhibit A (a “Notice of Exclusive Control”), and without further consent by and without further notification to Company or any other person, Bank agrees to promptly comply with all notifications, orders, directives and instructions it receives from Lender (“Account Related Orders”), whether oral, written or electronic, with respect to the Account, including, without limitation, orders directing Bank to sell, transfer, redeem and take other action with respect to the property in the Account; provided, however, if Bank receives an order from any federal or state governmental authority (a “Government Order”) which conflicts with the Account Related Orders received from Lender, Bank is authorized to comply with the Government Order in such manner as it or its legal counsel deems appropriate. Bank may rely upon any instructions from any person that Bank reasonably believes to be an authorized representative of Lender, provided, however, Bank shall not be obligated to comply with any instructions received from an “assignee” of Lender unless and until Bank shall have received written notice from Lender of such assignment.
Sample 1
Control of Account. (a) The Account shall be under the sole dominion and control of Agent and shall be maintained by Bank in the name of “Protective Products International Corp.” From and after the Activation Date (as defined below), neither Company nor any other person or entity, through or under Company, shall have any control over the use of, or any right to withdraw any amount from, the Account.
Sample 1
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Control of Account. (a) Borrower agrees that the DACA Account and the funds contained therein are subject to the sole dominion, control and discretion of Lender. (b) Bank will comply with instructions directing the disposition of funds in the DACA Account originated by Borrower or its authorized representatives unless and until Bank receives a written notice from Lender that Lender is exercising exclusive control over the DACA Account (the “Notice of Exclusive Control”), which notice shall be substantially in the form attached hereto as Exhibit A. Upon Bank’s receipt of the Notice of Exclusive Control and passage of a reasonable time to act thereon following actual receipt thereof by Bank, Bank will comply with written instructions given to it by Lender directing disposition of funds in the DACA Account without further consent by Borrower or any other person. Except as otherwise required by law or with the prior written consent of Lender and Borrower, Bank will not agree with any third party to comply with instructions for disposition of funds in the DACA Account. In the event any conflicting instructions or demands are made upon Bank by Borrower or Lender as to any matter related to the DACA Account, Bank shall have the right to inter plead the proceeds of the DACA Account with the appropriate court and shall be entitled to recover its reasonable attorney fees and costs from the interpled fund. (c)
Sample 1
Control of Account. The Participant: ● Retains control of how and when Account assets are used. ● May change the Designated Beneficiary. ● May take Non-Qualified Withdrawals, subject to applicable federal and state income taxes on earnings and potentially a 10% additional federal tax on earnings. Page 11 Fees and Charges Total Annual Asset-Based Fees, which include Program fees and Underlying Fund expenses, vary based on the Portfolio option selected. Page 30 Range of Total Annual Asset-Based Fees* Client Direct Series Units 0.00% - 0.53% *As a percentage of a Portfolio’s average annual net assets. ● Other fees and charges may apply. ● Underlying Fund expenses are subject to change, affecting Total Annual Asset-Based Fees. Investment Risks and Other Considerations ● Assets in an Account are not guaranteed, and an Account may lose money. ● Federal and state tax laws may change and may adversely affect certain tax advantages of an investment in the Program. ● Investment options, Sub-Advisors, fees and expenses may change. ● Contributions to an Account may affect the eligibility of the Designated Beneficiary or the Participant for federal and state benefits, such as financial aid or Medicaid. Page 43 Federal Tax Treatment ● Account earnings accrue federal income tax-free. ● No federal income tax on Qualified Withdrawals. ● No federal gift tax on Contributions up to $17,000 per year ($34,000 for spouses electing to split gifts) or $85,000 over 5 years ($170,000 for spouses electing to split gifts) - subject to certain limitations. Amounts above these annual limits are not subject to gift tax unless, together with other gifts, they exceed lifetime limits on gifts excluded from gift tax. ● Contributions are generally considered completed gifts for federal gift and estate tax purposes. Page 35
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Related to Control of Account

  • Administration of Accounts You agree that You shall be solely responsible for management of Your Administrator account(s) and all Your Managed Apple IDs, including but not limited to: (i) the security and safeguarding of the user name and password associated with each account; (ii) the provision and/or removal of access by any of Your personnel or End Users to such account and any Content provided and/or stored in the Service; and (iii) the provision of appropriate documentation and guidelines to End Users about using the Managed Apple ID accounts.

  • Collection of Accounts 43 5.4 Payments ............................................................................. 44 5.5 Authorization to Make Loans .......................................................... 44 5.6

  • Location of accounts The Borrower shall promptly:

  • Change of Account Either party may change its account for receiving a payment or delivery by giving notice to the other party at least five Local Business Days prior to the scheduled date for the payment or delivery to which such change applies unless such other party gives timely notice of a reasonable objection to such change.

  • Control Account The Agent shall open and maintain on its books a control account in the name of the Borrower showing the advance of the Loan and the computation and payment of interest and all other sums due under this Agreement. The Borrower’s obligations to repay the Loan and to pay interest and all other sums due under this Agreement shall be evidenced by the entries from time to time made in the control account opened and maintained under this Clause 17.7 and those entries will, in the absence of manifest error, be conclusive and binding.

  • Removal of Accounts (a) Subject to the conditions set forth below, the Transferor may, but shall not be obligated to, designate Receivables from Accounts for deletion and removal ("Removed Accounts") from the Trust. On or before the fifth Business Day (the "Removal Notice Date") prior to the date on which the designated Removed Accounts will be reassigned by the Trustee to the Transferor (the "Removal Date"), the Transferor shall give the Trustee and the Servicer written notice that the Receivables from such Removed Accounts are to be reassigned to the Transferor.

  • Protection of Accounts The Servicer may transfer the Custodial Account or the Escrow Account to a different Qualified Depository from time to time. Such transfer shall be made only upon obtaining the consent of the Owner and the Master Servicer, which consent shall not be withheld unreasonably. The Servicer shall bear any expenses, losses or damages sustained by the Owner because the Custodial Account and/or the Escrow Account are not demand deposit accounts. Amounts on deposit in the Custodial Account and the Escrow Account may at the option of the Servicer be invested in Eligible Investments; provided that in the event that amounts on deposit in the Custodial Account or the Escrow Account exceed the amount fully insured by the FDIC (the "Insured Amount") the Servicer shall be obligated to invest the excess amount over the Insured Amount in Eligible Investments on the same Business Day as such excess amount becomes present in the Custodial Account or the Escrow Account. Any such Eligible Investment shall mature no later than the Determination Date next following the date of such Eligible Investment, provided, however, that if such Eligible Investment is an obligation of a Qualified Depository (other than the Servicer) that maintains the Custodial Account or the Escrow Account, then such Eligible Investment may mature on such Remittance Date. Any such Eligible Investment shall be made in the name of the Servicer in trust for the benefit of the Owner. All income on or gain realized from any such Eligible Investment shall be for the benefit of the Servicer and may be withdrawn at any time by the Servicer. Any losses incurred in respect of any such investment shall be deposited in the Custodial Account or the Escrow Account, by the Servicer out of its own funds immediately as realized.

  • Verification of Accounts Any of Lender's officers, employees, or agents shall have the right, at any time or times hereafter, in the name of Lender, any designee of Lender or in the name of the Borrowers, to verify the validity, amount or any other matter relating to any Accounts by mail, telephone, telegraph, or otherwise.

  • Crediting of Accounts If PFPC Trust in its sole discretion credits an Account with respect to (a) income, dividends, distributions, coupons, option premiums, other payments or similar items on a contractual payment date or otherwise in advance of PFPC Trust's actual receipt of the amount due, (b) the proceeds of any sale or other disposition of assets on the contractual settlement date or otherwise in advance of PFPC Trust's actual receipt of the amount due or (c) provisional crediting of any amounts due, and (i) PFPC Trust is subsequently unable to collect full and final payment for the amounts so credited within a reasonable time period using reasonable efforts or (ii) pursuant to standard industry practice, law or regulation PFPC Trust is required to repay to a third party such amounts so credited, or if any Property has been incorrectly credited, PFPC Trust shall have the absolute right in its sole discretion without demand to reverse any such credit or payment, to debit or deduct the amount of such credit or payment from the Account, and to otherwise pursue recovery of any such amounts so credited from the Fund. Nothing herein or otherwise shall require PFPC Trust to make any advances or to credit any amounts until PFPC Trust's actual receipt thereof. The Fund hereby grants a first priority contractual possessory security interest in and a right of setoff against the assets maintained in an Account hereunder in the amount necessary to secure the return and payment to PFPC Trust of any advance or credit made by PFPC Trust (including charges related thereto) to such Account.

  • Clearing Account If the Servicer finds it necessary to use a clearing account, the following guidelines must be followed:

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