Fund Remittance Sample Clauses

The Fund Remittance clause outlines the procedures and obligations for transferring funds between parties under an agreement. It typically specifies the timing, method, and currency of payments, as well as any required documentation or conditions that must be met before remittance occurs. By clearly defining how and when payments are to be made, this clause helps prevent disputes and ensures that financial transactions are conducted smoothly and transparently.
Fund Remittance. Such funds shall be remitted by the City to the Treasurer of the Union within fifteen (15) days after such deductions. The employee’s authorization for such deduction is revocable subject to the conditions outlined on the check-off authorization or upon termination of employment.
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Fund Remittance. Such funds shall be remitted by the Library District to the Union by the 20th day of every month. The employee's authorization for such deduction is revocable subject to the conditions outlined on the checkoff authorization or upon termination of employment.
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Fund Remittance. Fees and other charges for payments to be remitted by any party hereto to another party hereto under this Agreement shall be paid and borne by the paying party.
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Fund Remittance. Upon expiration or termination of this CONTRACT for any reason, the ACCDC shall promptly, but not more than sixty (60) days following termination or expiration, return to the RANGERS without charge all unspent monies reserved for the project under this agreement (including any interest earned on such funds) that are remaining after payment of items of actual costs incurred or obligated by the ACCDC prior to the date of termination or expiration.
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Fund Remittance. Upon expiration or termination of this CONTRACT for any reason, FOUNDATION shall promptly, but not more than sixty (60) days following termination, return to CITY without charge all unspent Hotel Occupancy Tax revenue (“HOT revenue”) after payment of items of actual costs incurred or obligated by FOUNDATION prior to the date of termination and, upon request, shall assign to CITY all contracts, rights, and claims relating to FOUNDATION work.
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Fund Remittance. Upon expiration or termination of this CONTRACT for any reason, BUREAU shall promptly, but not more than sixty (60) days following termination, return to the CITY without charge all unspent Hotel Occupancy Tax revenue (“HOT revenue”) as well as all other CITY contributed revenue funds; including the balance of the operating reserve; any unexpended balance remaining after payment of items of actual costs
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Related to Fund Remittance

  • Collection Account (a) On the Closing Date, the Master Servicer shall open and shall thereafter maintain a segregated account held in trust in the name of the Trustee (the “Collection Account”), entitled “Collection Account, U.S. Bank National Association, as Trustee, in trust for Holders of the HomeBanc Mortgage Trust 2006-1, Mortgage Pass-Through Certificates.” The Collection Account shall relate solely to the Certificates issued pursuant to this Agreement, and funds deposited in the Collection Account shall not be commingled with any other monies. (b) The Collection Account shall be an Eligible Account. If an existing Collection Account ceases to be an Eligible Account, the Master Servicer shall establish a new Collection Account that is an Eligible Account within ten (10) days and transfer all funds and investment property on deposit in such existing Collection Account into such new Collection Account. (c) The Master Servicer shall give to the Securities Administrator and the Trustee prior written notice of the name and address of the depository institution at which the Collection Account is maintained and the account number of such Collection Account. The Master Servicer shall take such actions as are necessary to cause the depository institution holding the Collection Account to hold such account in the name of the Trustee. On each Distribution Date, the entire amount on deposit in the Collection Account relating to the Mortgage Loans (subject to permitted withdrawals set forth in Section 5.07), other than amounts not included in Interest Funds or Principal Funds to be paid to Certificateholders for such Distribution Date, shall be applied to make the requested payment of principal and/or interest on each Class of Certificates. (d) The Master Servicer shall deposit or cause to be deposited in the Collection Account on the earlier of the applicable Distribution Date and one Business Day following receipt thereof, the following amounts received or payments made by the Master Servicer (other than in respect of principal of and interest on the Mortgage Loans due on or before the Cut-off Date): (i) all remittances from the Custodial Account to the Master Servicer pursuant to Section 4.03; (ii) all Monthly Advances made by the Servicer or the Master Servicer pursuant to Section 6.11 hereof and any payment in respect of Prepayment Interest Shortfalls paid by the Master Servicer pursuant to Section 5.16 hereof; and (iii) the Purchase Price of any Mortgage Loan repurchased by the Depositor or the Seller during the related Prepayment Period or any other Person and any Substitution Amount related to any Qualifying Substitute Mortgage Loan. (e) Funds in the Collection Account may be invested by the Master Servicer in Eligible Investments selected by and at the written direction of the Master Servicer, which shall mature not later than one Business Day prior to the next Distribution Date (or on the Distribution Date with respect to any Eligible Investment of the Master Servicer or any other fund managed or advised by it or any Affiliate) and any such Eligible Investment shall not be sold or disposed of prior to its maturity. All such Eligible Investments shall be made in the name of the Master Servicer in trust for the benefit of the Trustee and the Certificateholders. All income and gain net of the Trustee Fee, the Custodian Fee and any losses realized from any such investment of funds on deposit in the Collection Account shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time, subject to Section 5.07 and shall not be part of the Trust. The amount of any losses incurred in respect of any such investments shall be deposited in such Collection Account by the Master Servicer out of its own funds, without any right of reimbursement therefor, immediately as realized. The foregoing requirements for deposit in the Collection Account are exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments of interest on funds in the Collection Account and payments in the nature of late payment charges, assumption fees and other incidental fees and charges relating to the Mortgage Loans need not be deposited by the Master Servicer in the Collection Account and may be retained by the Master Servicer or the Servicer, as applicable, as additional servicing compensation. If the Master Servicer deposits in the Collection Account any amount not required to be deposited therein, it may at any time withdraw such amount from such Collection Account.