Maintenance of Funds. Federal, state, and local funds shall be maintained by the School according to existing federal and state mandates and practices including, without limitation, any FEFP Guidelines pursuant to Section1011.62, Florida Statutes. Separate funds and bank accounts shall be maintained where required for federal funds and state and local funds.
Maintenance of Funds. Borrower will maintain sufficient funds in the Account on the dates Bank enters debits authorized by this Agreement. If there are insufficient funds in the Account on the date Bank enters any debit authorized by this Agreement, the debit will be reversed.
Maintenance of Funds. The Sub Agent undertakes to hold all funds received on behalf of the Underwriting Agent in a separate designated Clients account or in a separate designated Insurers account, which shall be either a statutory trust account or a non-statutory trust account, operated in accordance with the FCA Client Assets Sourcebook (CASS) rules. The Sub Agent will supply to the Underwriting Agent on request a copy of the trust deed constituting the trust and thereafter copies of any amendments to such document as well as copies of all audits and accounts produced in relation to the trust. These funds may not be used by the Sub Agent for any purpose other than for the purpose of settling accounts with the Underwriting Agent (or other insurers with whom the Sub Agent does business) or premium refunds or claims to clients or any other transactions where expressly authorised by the Underwriting Agent. For the avoidance of doubt, and without prejudice to the generality of the foregoing, the Sub Agent may not invest these monies in any way without the prior written consent of the Underwriting Agent and the assets held in the above mentioned account may not be co-mingled with assets in respect of the Sub Agent’s general or operating account. Subject to adherence to these requirements, any interest earned on such monies held by the Sub Agent shall accrue to the Sub Agent.
Maintenance of Funds. County must maintain the funds in the segregated account until spent for any authorized purposes described in the Agreement.
Maintenance of Funds. From the date of Closing, Xxxxxx Xxxxx shall maintain in an account at a financial institution located in, and organized under the laws of, the United States or any State thereof cash or fully liquid cash equivalents having a market value at all times equal to or greater than the Seller Indemnification Cap until the later of (a) the one-year anniversary of the Closing and (b) the date that all claims of Purchaser made pursuant to ARTICLE 11 within such one-year period have been fully and finally resolved between the parties. At the request of Purchaser from time to time during such period, Xxxxxx Xxxxx shall promptly provide documentary evidence (for example, an account statement) to the Purchaser that assets of such value are being maintained in the a U.S. account and are available as required by this Section 7.5.
Maintenance of Funds. The Employer agrees to make periodic contributions to either its own related trust or to the Claim Administrator amounts sufficient to allow timely payment of claims under, or in connection with the Policy, the Plan, premiums for insurance, or reinsurance purchased in connection with the Plan, and any and all other obligations and expenses incurred in the operation of the Plan, including specifically those described within this Agreement. Any indebtedness of the Employer to Claims Administrator arising at any time shall constitute a lien upon any compensation or allowances due or to become due hereunder; and, should this Agreement be terminated and any indebtedness of the Employer to the Claims Administrator be outstanding, such indebtedness shall survive the termination of the Agreement.
Maintenance of Funds. Fiscal year-end balances in the Operation and Maintenance Account shall be carried over to the same accounts in the subsequent fiscal year, and shall be used for no other purpose than those designated for these accounts.
Maintenance of Funds. The Sub Agent undertakes to hold all funds received on behalf of the Underwriting Agent in a separate designated Clients account or in a separate designated Insurers account, which shall be either a statutory trust account or a non-statutory trust account, operated in accordance with the FCA Client Assets Sourcebook (CASS) rules. The Sub Agent will supply to the Underwriting Agent on request a copy of the trust deed constituting the trust and thereafter copies of any amendments to such document as well as copies of all audits and accounts produced in relation to the trust. These funds may not be used by the Sub Agent for any purpose other than for the purpose of settling accounts with the Underwriting Agent (or other insurers with whom the Sub Agent does business) or premium refunds or claims to clients or any other transactions where expressly authorised by the Underwriting Agent. For the avoidance of doubt, and without prejudice to the generality of the foregoing, the Sub Agent may not invest these monies in any way without the prior written consent of the Underwriting Agent and the assets held in the above mentioned account may not be co-mingled with assets in respect of the Sub Agent’s general or operating account. Subject to adherence to these requirements, any interest earned on such monies held by the Sub Agent shall accrue to the Sub Agent. of the final premiums, the Underwriting Agent may prepare and submit provisional accounts equivalent to the anticipated premiums. Please forward the nett amount due to be received by this office by 28th of each month, following the month of which the policy incepts or renews or is adjusted, unless such payment terms are specifically varied or otherwise stated on a specific policy. In the event the Sub Agent receives the premium after the time permitted for the client to pay the premium and provided the relevant contract of Insurance has not been validly cancelled, the Sub Agent shall pay that premium to the Underwriting Agent as soon as reasonably possible. Without releasing the Sub Agent from its obligations to make payments to the Underwriting Agent for any premiums which are due, the Underwriting Agent may, at its discretion, approach the clients directly to effect payment of any sums due. The Underwriting Agent reserves the right to withhold commission payable to the Sub Agent where premiums are overdue without genuine query. For the sake of clarification, a genuine query is one that was raised by the Sub Ag...
Maintenance of Funds. If at any time between the Effective Date and the fifth (5th) anniversary of the Effective Date, Executive shall, for any reason, cease to serve as Chairman and Chief Executive Officer of the Manager and as the individual primarily responsible for the management of the Funds’ investment portfolios (a “Triggering Event”), Executive may elect to withdraw investments in one of more of the Funds, provided that Executive (directly or through his Affiliates, other than AREP and its controlled Affiliates) shall, from the date of the Triggering Event until the later of (x) the fifth anniversary of the Effective Date and (y) the third anniversary of the Triggering Event (such later date, the “End Date”), maintain investments in one or more of the Funds in an aggregate amount equal to not less than $1 billion, and shall not withdraw such amount or any amounts earned with respect thereto (the “Icahn Fund Commitment”); provided that for purposes of this Section 6 only, if both a majority of the Board and a majority of the independent Directors, on the Board vote to terminate Executive's employment without cause, Executive shall not be subject to the Icahn Fund Commitment. For the avoidance of doubt, at the time of the Triggering Event, Executive may withdraw any investments of Executive or his Affiliates (other than AREP or its controlled Affiliates) in the Funds exceeding an aggregate of $1 billion. From and after the Triggering Event, the Icahn Fund Commitment shall be subject to a management fee of 2% and an incentive allocation of 20%. If at any time between the date of the Triggering Event and the End Date the value of the Icahn Fund Commitment is less than $1 billion, the management fee and incentive allocation assessed against the Icahn Committed Funds shall equal to the fees applicable if the value of the Icahn Fund Commitment were $1 billion.
Maintenance of Funds. Maintain the Funds in the form of Cash and Cash Equivalents, subject to the prior written consent of Lender.
