Common use of Holding Balance Clause in Contracts

Holding Balance. i. Funds denominated in EUR, USD, GBP, CAD, SEK and CHF may be maintained in the Payment Account without restriction. ii. Funds denominated in all other currencies up to a maximum and including EUR 500,000 in equivalence, may be maintained in the Payment Account for a maximum period of seventy‐five (75) days. Funds denominated in all other currencies exceeding in equivalence EUR 500,000 may be maintained in the Payment Account for a maximum period of five (5) days. The Account Holder shall be responsible for all risks (including without limitation, fluctuations in the value of currency held) associated with maintaining Holding Balances in one or more currencies. iii. If Finductive does not receive a timely Instruction for the disposition of any funds denominated in a currency other than those mentioned in (i) above, prior to the expiry of the stipulated period, Finductive may, unless otherwise agreed in writing: a) convert the Aged Holding Balance into the equivalent EUR amount at the applicable exchange rate; and/or b) return any remaining funds from the Aged Holding Balance to the Account Xxxxxx’s notified account.

Holding Balance. i. Funds denominated in EUR, USD, GBP, CAD, SEK and CHF may be maintained in the Payment Account without restriction. ii. Funds denominated in all other currencies up to a maximum and including EUR 500,000 in equivalence, may be maintained in the Payment Account for a maximum period of seventy‐five seventy-five (75) days. Funds denominated in all other currencies exceeding in equivalence EUR 500,000 may be maintained in the Payment Account for a maximum period of five (5) days. The Account Holder shall be responsible for all risks (including without limitation, fluctuations in the value of currency held) associated with maintaining Holding Balances in one or more currencies. iii. If Finductive does not receive a timely Instruction for the disposition of any funds denominated in a currency other than those mentioned in (i) above, prior to the expiry of the stipulated period, Finductive may, unless otherwise agreed in writing: a) convert the Aged Holding Balance into the equivalent EUR amount at the applicable exchange rate; and/or b) return any remaining funds from the Aged Holding Balance to the Account Xxxxxx’s notified account.