Encashment. 18.1.1 The encashment services consider transportation (encashment) of the client-owned cash and valuables on the client’s demand.
18.1.2 The encashment service conditions are described in detail in the Annex #5-8 of this agreement, which is an inseparable part of this agreement;
18.1.3 In order to use the encashment services, the client has to submit an application to the bank according to the paragraph 1.2 of this agreement.
Encashment. You may terminate and encash the Plan and obtain the Encashment Value at any time subject to the following provisions:
(a) Any Exit Charge due and any outstanding Plan charges (as imposed by Clause 6), will be deducted from the Plan Value, if Plan is encashed before the Plan Maturity Date.
(b) If the Plan is encashed within 60 months from the commencement date of such Regular Contribution and Additional Regular Contributions (as the case may be), Metis reserves the right to cancel or deduct any Extra Allocation paid previously in respect such Regular Contribution and Additional Regular Contributions (as the case may be) from the relevant Initial Account for nil consideration.
(c) All Account Units will be encashed using the Bid Price for the corresponding Underlying Assets, after receipt by us of the proper written instructions and proof that you are the person legally entitled to the amounts payable under the Plan.
(d) Once the Encashment Value has been paid, we will not accept any further Contributions nor will we pay any further benefits and the Plan will terminate automatically. You will have no further rights to benefits or options under the Plan.
(e) We will pay out the Encashment Value or Withdrawal sum in USD or upon requested Currency (subject to our absolute discretion) by electronic transfer, within 60 calendar days after the Valuation Day provided we have received the settlement proceeds from the Manager, Issuer or Dealer of the relevant Underlying Asset.
(f) In exceptional circumstances, such as extreme stock market closure or to protect the interests of other Plan Owners, payments from a Plan may be delayed by Metis. In the event that this happens, we will do our best to minimize the delay and keep you informed of the likely length of delay.
(g) As the Plan Owner, you must meet the cost of payment. No interest is payable in respect of Encashment Value whatsoever.
Encashment. The Agreement includes the right to seek early repayment of outstanding claims on the Trust in case of balance of payments and reserve needs, and authorizes drawings by the Trustee to fund such encashment requests of other participating creditors to any of the Loan Accounts of the Trust. The right to encashment under the agreement is in all cases subject to the availability of resources under borrowing agreements of other participating creditors.
Encashment. We may accept a check or negotiable instrument for encashment. At our option, we may hold a corresponding amount in an account for a reasonable period of time, as determined by our Funds Availability Policy. If we do so, we will provide you with a notice of the hold and explain our reason for doing so. All checks presented must be of current date. We are not obligated and will not accept any check or other instrument for deposit or encashment when they are post-dated (dated after the date of presentment). We are not obligated to accept any checks or other instruments for deposit or encashment when those items are dated over six months old.
Encashment. You can elect to cancel your Plan for the Encashment Value. If we receive such written notice from you, we will pay you the Encashment Value of the Plan by selling all units in Plan Account under the Plan at the next Valuation Date after deducting any charges applicable in respect of the Plan and amounts owing to us.
Encashment. The Contributor shall have the right to seek early repayment of all or part of the principal amount of its outstanding claims on the Loan Account of the Trust pursuant to Section IV, paragraph 3(b) of the RST Instrument if the Contributor represents that the balance of payments and reserve position of the United Kingdom justify the early repayment, and the Trustee, having given this representation the overwhelming benefit of any doubt, agrees. Early repayment is in all cases subject to the availability of resources under borrowing agreements to the Loan Account of the Trust.
Encashment. The contributor shall have the right to seek early repayment of all or part of the Deposit (the “Encashed Deposit”) pursuant to Section VI, paragraph 5(e) of the RST Instrument, if the Contributor represents that the balance of payments and reserve position of the United Kingdom justifies the early repayment in advance of the Maturity Date and the Trustee, having given the representation the overwhelming benefit of any doubt, agrees. The Encashed Deposit amount may not exceed the Original Amount of the Deposit less any amount(s) repaid to the Contributor under this paragraph or paragraph 9 or transferred by the Contributor under paragraph 11 of this Deposit Agreement, or the Notional Value of the Deposit, whichever is lower. The Contributor agrees to restore an amount equivalent to the Encashed Deposit to the Deposit Account as soon as practicable in light of favorable developments in the United Kingdom’s balance of payments and reserve position, as evidenced by the inclusion of the United Kingdom’s currency in the Fund’s Financial Transactions Plan.
Encashment. Arrangements established to accommodate requests to cash the Borrower's cheques at the Lender's points of representation other than where the account is conducted. *** TEXT OMITTED AND FILED SEPARATELY CONFIDENTIAL TREATMENT REQUESTED
Encashment. Canada expressed the preference to have traditional provisions for immediate encashability of its claims under the Agreement in case of balance of payments need, so as to be in a position to treat its claims on the Fund as reserve assets. As the maximum amount of claims under the Agreement does not pose the same liquidity risks to the Fund as the Japan agreement, the Agreement provides for immediate encashability (Paragraph 9). Specifically, at the request of Canada the Fund will make an immediate early repayment at face value of all or a portion of the drawings outstanding under the Agreement if Canada represents that its balance of payments and reserve position justify such repayment and the Fund, having given this representation the overwhelming benefit of any doubt, determines that there is a need for the early repayment as requested by Canada in light of its balance of payments and reserve position. This full immediate encashment provision is consistent with many of the Fund’s previous bilateral borrowing agreements and the NAB.
Encashment