Fund Ownership Sample Clauses
The Fund Ownership clause defines who holds legal and beneficial ownership of the assets or interests within a fund. Typically, it specifies whether the fund itself, its investors, or a managing entity owns the underlying assets, and may outline how ownership interests are recorded and transferred. This clause is essential for clarifying rights to income, control, and distributions, thereby preventing disputes and ensuring all parties understand their stake in the fund.
Fund Ownership. Payments to Recipients (other than Fees) do not pass into ▇▇▇▇▇’▇ legal ownership at any time from payment initiation to successful delivery, including any subsequent refunds. FOR TEXAS RESIDENTS ONLY: To the extent that ▇▇▇▇▇ collects payment or payment instructions from you for transmission to Recipients, it does so on behalf of Evolve as Evolve’s limited payment collection agent. Accordingly, payment to Melio shall be considered the same as payment made directly by you to Evolve. Upon your delivery of funds to Melio, your payment obligation to Evolve is extinguished, and ▇▇▇▇▇ is responsible for remitting the received funds to Evolve. If ▇▇▇▇▇ fails to remit any such amounts it receives from you to Evolve, Melio is solely liable to Evolve for the funds, and you shall not have liability thereof. • ▇▇▇▇▇ uses a master bank account at Evolve that is held in Evolve’s name and owned by Evolve. The account title also shows that this account is for the benefit of customers of Melio. You ▇▇▇▇▇ ▇▇▇▇▇ the right to instruct Evolve on the use of funds in the account, including to receive funds from you and to then send funds to your Recipient based on your instructions. Evolve transfers all funds for the benefit of ▇▇▇▇▇’▇ customers upon ▇▇▇▇▇’▇ instructions.
Fund Ownership. The Fund will own its respective right, title, and interest, including Intellectual Property Rights, in and to the Fund Data. The Fund hereby grants BNYM a limited, nonexclusive, nontransferable license to access and use the Fund Data, and consents to BNYM’s permitting access to, transferring and transmitting Fund Data, all as appropriate to the Fund’s use of the Licensed Rights or as contemplated by the Documentation.
Fund Ownership. Payments to Recipients (other than Fees) do not pass into ▇▇▇▇▇’▇ legal ownership at any time from payment initiation to successful delivery, including any subsequent refunds. • ▇▇▇▇▇ uses a master bank account at Evolve Bank & Trust (Evolve) that is held in Evolve’s name. The account title also shows that this account is for the benefit of customers of Melio. ▇▇▇▇▇ has the right to instruct Evolve on the use of funds in the account, including to receive funds from you and to then send funds to your Recipient based on your instructions. Evolve transfers all funds for the benefit of ▇▇▇▇▇’▇ customers.
Fund Ownership. The Fund shall be a component part of the Federation, not a separate entity for tax purposes. Nothing in this Agreement may affect the Federation’s status as a qualified charitable organization within the meaning of Section 501(c)(3) and as an organization that is not a private foundation within the meaning of Section 509(a) of the Code. This Agreement will be interpreted in a manner consistent with the foregoing intention and in conformity with all applicable laws and regulations. The Federation will have the ultimate ownership, authority and control over all Fund property for the Federation’s charitable purposes.
Fund Ownership. Payments to Recipients (other than Fees) do not pass into Koverly’s legal ownership at any time from payment initiation to successful delivery, including any subsequent refunds. • Koverly uses bank accounts at each of the Banks that are established at Koverly’s request and held in the Banks’ name and for the benefit of customers of Koverly. You grant Koverly the right to instruct the Banks on the use of funds in the accounts, and authorize Bank(s) to process these instructions on your behalf, including to receive funds from you and to then send funds to your Recipient based on your instructions. The Banks process the transfer of all funds for the benefit of Koverly’s customers upon ▇▇▇▇▇▇▇’s instructions.
Fund Ownership. 3.3.1 Payments to Recipients (other than Fees) do not pass into ▇▇▇▇▇’▇ legal ownership at any time from payment initiation to successful delivery, including any subsequent refunds.
3.3.2 Melio uses a master bank account at Evolve Bank & Trust (Evolve) that is held in Evolve’s name. The account title also shows that this account is for the benefit of customers of Melio. ▇▇▇▇▇ has the right to instruct Evolve on the use of funds in the account, including to receive funds from you and to then send funds to your Recipient based on your instructions.Evolve transfers all funds for the benefit of ▇▇▇▇▇’▇ customers.