Common use of Depositor Placement Review Clause in Contracts

Depositor Placement Review. (a) Each Business Day, your aggregate principal balance that will be in Deposit Accounts after that day’s ICS Settlement will be provisionally allocated to Destination Institutions. The amount allocated will reflect your Program Balance as of the last ICS Settlement, plus any Program Deposit that will occur at the day’s ICS Settlement, minus any Program Withdrawal that will occur at the day’s ICS Settlement. The allocation may provide that previously-deposited funds will be removed from a Destination Institution and deposited in another Destination Institution.

Depositor Placement Review. (a) Each Business Day, your aggregate principal balance that will be in Deposit Accounts at Destination Institutions after that day’s ICS Settlement will be provisionally allocated to Destination Institutions. The amount allocated will reflect your Program Balance as of the last ICS Settlement, plus any Program Deposit that will occur at the day’s ICS Settlement, minus any Program Withdrawal that will occur at the day’s ICS Settlement. The allocation may provide that previously-previously- deposited funds will be removed from a one or more Destination Institution Institutions and deposited in another one or more other Destination InstitutionInstitutions.

Depositor Placement Review. (a) Each Business Day, your aggregate principal balance that will be in Deposit Accounts at Destination Institutions after that day’s ICS Settlement will be provisionally allocated to Destination Institutions. The amount allocated will reflect your Program Balance as of the last ICS Settlement, plus any Program Deposit that will occur at the day’s ICS Settlement, minus any Program Withdrawal that will occur at the day’s ICS Settlement. The allocation may provide that previously-deposited funds will be removed from a one or more Destination Institution Institutions and deposited in another one or more other Destination InstitutionInstitutions.