Funding of Account Sample Clauses

Funding of Account. Owner agrees to deposit moneys into the Account in the amount and to the extent that Project Revenues are insufficient to pay any operating expenses, including Personnel Compensation, hereunder. Manager shall notify Owner in writing as to the amount of any such insufficiency.
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Funding of Account. The APC Discount shall be contingent upon payment via Institutional account. There is no prepayment for this agreement in the RLSC account and no funds to draw from within the RLSC profile.
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Funding of Account. 8.2.1 Date on which Allocation Begins The Bank shall allocate to its Restricted Retained Earnings account an amount at least equal to the Regular Contribution Amount beginning on the REFCORP Termination Date. The Bank shall allocate amounts to the Restricted Retained Earnings account only through contributions from its Quarterly Net Income or Adjustments to Prior Net Income occurring on or after the REFCORP Termination Date, but nothing in the Retained Earnings Capital Plan Amendment shall prevent the Bank from allocating a greater percentage of its Quarterly Net Income or positive Adjustment to Prior Net Income to its Restricted Retained Earnings account than the percentages set forth in the Retained Earning Capital Plan Amendment.
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Funding of Account. The Collateral Agent will establish and maintain at its office at 79 Souxx Xxxx Xxxxxx, Xxxxxxxxx Xxxxx Department, Salt Lake City, Utah, as a blocked account in the name of the Collateral Agent and under the sole dominion and control of the Collateral Agent, a deposit account designated as "Snake River Voting Rights Payment Deposit Account." Deposits to the Payment Deposit Account shall be made pursuant to Section 3 of the Voting Rights Agreement. The Payment Deposit shall be returned to as set forth in Section 3(c) of the Voting Rights Agreement. Any interest received in respect of Investments of any amounts held in the Payment Deposit Account shall be delivered by the Collateral Agent to the Company on the last Business Day of each March, June, September and December; provided that such interest shall be retained in the Payment Deposit Account to the extent necessary to keep the amount held in the Payment Deposit Account above the minimum level called for in the Voting Rights Agreement; provided further that the Collateral Agent shall not deliver to the Company any such interest received in respect of Investments if an Event of Default or Default with respect to the Secured Obligations has occurred and is then continuing. If a Letter of Credit is part of the Payment Deposit, then prior to the date (the "Drawing Date") which is 30 days before the expiration of such Letter of Credit (or any replacement Letter of Credit issued pursuant to this Section 2(d)), Valhi shall cause to be issued in favor of the Collateral Agent a Letter of Credit to replace such expiring Letter of Credit or shall cause the expiration date of such Letter of Credit to be extended. If Valhi shall not have caused to be issued in favor of the Collateral Agent such replacement Letter of Credit or have caused such expiration date to be extended on or before the Drawing Date, the Collateral Agent shall draw upon the expiring Letter of Credit and deposit the proceeds thereof in the Payment Deposit Account to be held as part of the Payment Deposit.
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Funding of Account. Purchaser shall maintain an Account of no less than $10,750,000 to fund the purchase of the Warrants. Purchaser agrees to fund the Account fully on or before the Effective Date of the Company’s Registration Statement on Form F-1 in connection with the IPO. Other than for purposes of making Warrant purchases, no funds may be withdrawn from the Account prior to the Termination Date. Upon the earlier to occur of 46 days after the Effective Date or upon notification from the Underwriter that the over-allotment option will not be exercised for more than 375,000 Units, the Broker shall return to Purchaser an amount equal to (x) $2.00 multiplied by (y) the difference between 375,000 and the actual number of Warrants issued by the Company upon exercise of the over-allotment option.
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Funding of Account. On the Closing of the transactions contemplated by the Purchase Agreement, the Corporation shall deposit into the Expenditures Account three million U.S. dollars (US$3,000,000) which shall constitute the principal amount of the Expenditures Fund contemplated hereby. The Expenditures Fund shall be used only to fund the technical expenditures contemplated in Schedule A hereto and shall only be disbursed in the manner set forth in Section 3.
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Funding of Account. (a) Purchaser agrees to fund the Account with at least eleven million five hundred U.S. dollars (US$11,500,000) by depositing a cash amount of twelve billion Korean won (KRW12,000,000,000) and cash-equivalent securities and certificates of deposit equal to seven billion Korean won (KRW7,000,000,000) as set forth in Appendix B (the “Full Commitment”) no later than the Effective Date of the Company’s Registration Statement on Form F-1 in connection with the IPO (the “Effective Date”). Pursuant to Article 44-3 of the Korean Securities and Exchange Act, funds in the Account shall be deposited by Broker with the Korean Securities Finance Corporation (the “KSFC”) clearly identified by Broker as property of Purchaser, pursuant to a trust arrangement under the Korean Trust Act for the purpose of ensuring, among other things, that funds in the Account are protected from creditor claims of either the Broker or the KSFC. (b) On the date that is two weeks prior to the Commencement Date (the “Conversion Date”), a sufficient portion of the funds in the Account shall be converted to U.S. dollars so that the Account is funded with fully collected U.S. dollars in the amount of US$11,500,000. (c) At such time after (i) funds in the Account are converted into US$11,500,000, and (ii) the Commencement Date, any amounts (in U.S. dollars or Korean won) in excess of US$11,500,000 may be withdrawn from the Account and returned to Purchaser or its affiliates by Broker. (d) Broker shall provide to Underwriter an account statement for the Account, (i) no later than the Effective Date that evidences the Full Commitment is in the Account and available for Warrant purchases as of that date and (ii) the next business day following the Conversion Date that evidences the Full U.S. Dollar Commitment (as defined below) in the Account and (iii) no later than twenty-four hours prior to the Commencement Date that evidences the Full U.S. Dollar Commitment in the Account. Other than withdrawals by Broker for the sole purpose of payment for Warrant purchases and as provided in this Section 3, no funds may be withdrawn from the Account prior to the Termination Date. (e) Purchaser irrevocably covenants to ensure that the Account shall have no less than: (i) the Full Commitment, namely, US$11,500,000 (or its equivalent in Korean won or combination of U.S. dollars, Korean won and Certificates of Deposit) on the Effective Date; (ii) US$11,500,000 (in U.S. dollars) commencing on the date that is two wee...
Sample 1
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Funding of Account. Purchaser shall maintain an Account of no less than $10,750,000 to fund the purchase of the Warrants. Purchaser agrees to fund the Account fully within fourteen (14) days following the Effective Date of the Company’s Registration Statement on Form F-1 in connection with the IPO. Other than for purposes of making Warrant purchases, no funds may be withdrawn from the Account prior to the Termination Date.
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Funding of Account. The Trust shall have credited to the Account prior to the time the Bank must settle for any Securities delivered to the Account for purchase on any settlement day, sufficient immediately available funds to pay for such deliveries. Should the Trust fail to have sufficient immediately available funds in the Account to settle a transaction pursuant to the preceding sentence (a "Deficit"), the Bank may elect in its sole discretion (i) to reject the settlement of the transaction, (ii) to settle the transaction on behalf of the Trust and debit the Account (A) for the amount of such Deficit and (B) for the amount of the funding or other cost or expense incurred or sustained by the Bank for the Trust's failure to have sufficient immediately available funds in the Account by the applicable settlement deadline for the Bank, or (iii) to reverse the posting of the Securities made to the Account. The Bank reserves the right to reverse any erroneous or provisional entries to the Account retroactively to the date upon which the correct entry, or no entry, should have been made. The foregoing rights of the Bank are in addition to and not in limitation of any other rights or remedies available to it under this Agreement or otherwise. No prior action or course of dealing on the part of the Bank with respect to the settlement of Securities transactions on behalf of the Trust shall be used by or give rise to any claim or action by the Trust against the Bank for the Bank's refusal to pay or settle for a Securities transaction the Trust has not timely funded as required herein.
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Related to Funding of Account

  • 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.

  • Type of Account The Financial Institution agrees that each Collateral Account is, and will be maintained as, either (a) a “securities account” (as defined in Section 8-501 of the UCC) or (b) a “deposit account” (as defined in Section 9-102(a)(29) of the UCC).

  • Funding Account The Administrative Agent shall have received a notice setting forth the deposit account of the Borrower (the “Funding Account”) to which the Administrative Agent is authorized by the Borrower to transfer the proceeds of any Borrowings requested or authorized pursuant to this Agreement.

  • Funding of Advances (a) Subject to the satisfaction of the conditions precedent set forth in Section 6.2, the Borrower may request Advances hereunder by giving notice to the Facility Agent, each Agent and the Collateral Agent of the proposed Advance at or prior to 2:00 p.m., New York City time, at least one (1) Business Day prior to the proposed Advance Date. Such notice (herein called the “Advance Request”) shall be in the form of Exhibit C-1 and shall include (among other things) the proposed Advance Date and amount of such proposed Advance, and shall, if applicable, be accompanied by an Asset Approval Request setting forth the information required therein with respect to the Collateral Obligations to be acquired by the Borrower on the Advance Date (if applicable). The amount of any Advance shall at least be equal to the least of (w) the Dollar equivalent of $500,000 in an Eligible Currency, (x) the (1) Borrowing Base on such day minus (2) the Advances Outstanding on such day, (y) the (1) Facility Amount on such day minus (2) the Advances Outstanding on such day and (z) only in the case of Advances other than Dollar Advances, the (1) Foreign Currency Sublimit on such day minus (2) the Foreign Currency Advance Amount on such day, in each case, before giving effect to the requested Advance as of such date. Any Advance Request given by the Borrower pursuant to this Section 2.2, shall be irrevocable and binding on the Borrower. The Facility Agent shall have no obligation to lend funds hereunder in its capacity as Facility Agent. Subject to receipt by the Collateral Agent of an Officer’s Certificate of the Borrower confirming the satisfaction of the conditions precedent set forth in Section 6.2, and the Collateral Agent’s receipt of such funds from the Lenders, the Collateral Agent shall make the proceeds of such requested Advances available to the Borrower by deposit to such account as may be designated by the Borrower in the Advance Request in same day funds no later than 3:00 p.m., New York City time, on such Advance Date.

  • Debit of Accounts Bank may debit any of Borrower’s deposit accounts, including the Designated Deposit Account, for principal and interest payments or any other amounts Borrower owes Bank when due. These debits shall not constitute a set-off.

  • Funding of Loans The Lenders agree that the Administrative Agent may assume that each Lender will fund timely its pro rata portion of each borrowing requested by the Borrowers in accordance with the terms of this Agreement and that the Administrative Agent may, in reliance upon such assumption, make available to the Borrowers a corresponding amount. In such event, if a Lender has not in fact made its share of the applicable borrowing available to the Administrative Agent, then the applicable Lender and the Borrowers severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount in immediately available funds with interest thereon, for each day from and including the date such amount is made available to the Borrowers to but excluding the date of payment to the Administrative Agent, at (a) in the case of a payment to be made by such Lender, the greater of the Federal Funds Rate or a rate determined by the Administrative Agent in accordance with banking industry customs and rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by the Administrative Agent in connection with the foregoing, and (b) in the case of a payment to be made by the Borrowers, the interest rate applicable to Adjusted Base Rate Borrowings. If the Borrowers and such Lender shall pay such interest to the Administrative Agent for the same or an overlapping period, the Administrative Agent shall promptly remit to the Borrowers the amount of such interest paid by the Borrowers for such period. If such Lender pays its share of the applicable borrowing to the Administrative Agent, then the amount so paid shall constitute such share included in the subject borrowing. Any payment by the Borrowers shall be without prejudice to any claim the Borrowers may have against a Lender that shall have failed to make such payment to the Administrative Agent.

  • Notice to Banks; Funding of Loans (a) Upon receipt of a Notice of Borrowing, the Agent shall promptly notify each Bank of the contents thereof and of such Bank's share (if any) of such Borrowing and such Notice of Borrowing shall not thereafter be revocable by the Borrower. (b) Not later than 1:00 P.M. (New York City time) on the date of each Borrowing, each Bank participating therein shall (except as provided in subsection (c) of this Section) make available its share of such Borrowing, in Federal or other funds immediately available in New York City, to the Agent at its address referred to in Section 10.01. Unless any applicable condition specified in Article 3 has not been satisfied, as determined by the Agent in accordance with Article 3, the Agent will make the funds so received from the Banks immediately available to the Borrower at the Agent's aforesaid address. (c) If any Bank makes a new Loan hereunder to the Borrower on a day on which the Borrower is to repay all or any part of an outstanding Loan from such Bank, such Bank shall apply the proceeds of its new Loan to make such repayment and only an amount equal to the difference (if any) between the amount being borrowed by the Borrower and the amount being repaid shall be made available by such Bank to the Agent as provided in subsection (b) of this Section, or remitted by the Borrower to the Agent as provided in Section 2.12, as the case may be. (d) Unless the Agent shall have received notice from a Bank prior to the date of any Borrowing (or, in the case of a Base Rate Borrowing, prior to Noon (New York City time) on the date of such Borrowing) that such Bank will not make available to the Agent such Bank's share of such Borrowing, the Agent may assume that such Bank has made such share available to the Agent on the date of such Borrowing in accordance with subsections (b) and (c) of this Section 2.04 and the Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank shall not have so made such share available to the Agent, such Bank and the Borrower severally agree to repay to the Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Agent, at (i) in the case of the Borrower, a rate per annum equal to the higher of the Federal Funds Rate and the interest rate applicable thereto pursuant to Section 2.07 and (ii) in the case of such Bank, the Federal Funds Rate. If such Bank shall repay to the Agent such corresponding amount, such amount so repaid shall constitute such Bank's Loan included in such Borrowing for purposes of this Agreement. If the Borrower shall have repaid such corresponding amount of such Bank, such Bank shall reimburse the Borrower for any loss on account thereof incurred by the Borrower.

  • Statement of Account 5.1 Sending periodic statement of account

  • Payment of Accounts (a) Company will irrevocably direct all of its present and future Account Debtors and other Persons obligated to make payments constituting Collateral to make such payments directly to the lockbox maintained by Company (the "Lockbox") with Xxxxx Fargo pursuant to the terms of the Clearing Account Agreement dated August , 2003 among the Company, Laurus and Xxxxx Fargo Bank, (the "Lockbox Agreement")or such other financial institution accepted by Laurus in writing as may be selected by Company (the "Lockbox Bank"). On or prior to the Closing Date, Company shall and shall cause the Lockbox Bank to enter into all such documentation acceptable to Laurus pursuant to which, among other things, the Lockbox Bank agrees to: (a) sweep the Lockbox on a daily basis and deposit all checks received therein to an account designated by Laurus in writing and (b) comply only with the instructions or other directions of Laurus concerning the Lockbox. All of Company's invoices, account statements and other written or oral communications directing, instructing, demanding or requesting payment of any Account of Company or any other amount constituting Collateral shall conspicuously direct that all payments be made to the Lockbox or such other address as Laurus may direct in writing. If, notwithstanding the instructions to Account Debtors, Company receives any payments, Company shall immediately remit such payments to Laurus in their original form with all necessary endorsements. Until so remitted, Company shall hold all such payments in trust for and as the property of Laurus and shall not commingle such payments with any of its other funds or property. Company shall pay Laurus five percent (5%) of the amount of any payment so received by Company and not delivered in kind to Laurus within five (5) Business Days following Company's receipt thereof. (b) At Laurus' election, following the occurrence of an Event of Default, Laurus may notify Company's Account Debtors of Laurus' security interest in the Accounts, collect them directly and charge the collection costs and expenses thereof to Company's account.

  • Principal Funding Account (a) The Trustee, or the Servicer, on its behalf, shall establish and maintain, in the name of the Trust, on behalf of the Trust, for the benefit of the Certificateholders, an Eligible Deposit Account (the "Principal Funding Account"), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Certificateholders. The Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Principal Funding Account and in all proceeds thereof. The Principal Funding Account shall be under the sole dominion and control of the Trustee for the benefit of the Certificateholders. If at any time the Principal Funding Account ceases to be an Eligible Deposit Account, the Transferor shall notify the Trustee, and the Trustee upon being notified (or the Servicer on its behalf) shall, within 10 Business Days, establish a new Principal Funding Account which meets the conditions specified in the definition of Eligible Deposit Account, and shall transfer any cash or any investments to such new Principal Funding Account. The Trustee or the Paying Agent, at the direction of the Servicer, shall (i) make withdrawals from the Principal Funding Account from time to time, in the amounts and for the purposes set forth in this Series Supplement, and (ii) on each Transfer Date (from and after the commencement of the Controlled Accumulation Period) prior to termination of the Principal Funding Account make a deposit into the Principal Funding Account in the amount specified in, and otherwise in accordance with, subsection 4.9(c). (b) Funds on deposit in the Principal Funding Account shall be invested at the direction of the Servicer by the Trustee or the Paying Agent in Permitted Investments. Funds on deposit in the Principal Funding Account on any Transfer Date, after giving effect to any withdrawals from the Principal Funding Account on such Transfer Date, shall be invested in such investments that will mature so that such funds will be available for withdrawal on or prior to the next succeeding Transfer Date. The Trustee or the Paying Agent shall maintain for the benefit of the Certificateholders possession of the negotiable instruments or securities, if any, evidencing such Permitted Investments. No Permitted Investment shall be disposed of prior to its maturity. On the Transfer Date occurring in the month following the commencement of the Controlled Accumulation Period, and on each Transfer Date thereafter with respect to the Controlled Accumulation Period, the Trustee or the Paying Agent, acting at the Servicer's direction given before each Transfer Date, shall transfer from the Principal Funding Account to the Finance Charge Account the Principal Funding Investment Proceeds, but not in excess of the Covered Amount, for application as Available Investor Finance Charge Collections applied pursuant to subsection 4.9(a). Any Excess Principal Funding Investment Proceeds shall be included as Available Investor Finance Charge Collections for such Transfer Date. An amount equal to any Principal Funding Investment Shortfall shall be deposited in the Finance Charge Account on each Transfer Date from the Accumulation Period Reserve Account to the extent funds are available pursuant to subsection 4.14(d) and included as Available Investor Finance Charge Collections for such Transfer Date. Principal Funding Investment Proceeds (including reinvested interest) shall not be considered part of the amounts on deposit in the Principal Funding Account for purposes of this Series Supplement.

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