No Negative Balance. Notwithstanding the provisions of Clause 3.1 (Instructions from the Cash Manager) but subject to Clause 3.3(a), amounts shall only be withdrawn from the Transaction Account or the GIC Account to the extent that such withdrawal does not cause the Transaction Account or the GIC Account, as the case may be, to have a negative balance and for the avoidance of doubt, the Account Bank shall be under no obligation to monitor the Bank Accounts for this purpose. No liability shall attach to the Account Bank if there are insufficient funds to make a payment in whole or part.
Appears in 3 contracts
Samples: Account Agreement, Account Agreement, Bank Account Agreement
No Negative Balance. Notwithstanding the provisions of Clause 3.1 (Instructions from the Cash Manager) but subject to Clause 3.3(a)) above, amounts shall only be withdrawn from the Transaction Account or the GIC Account to the extent that such withdrawal does not cause the Transaction Account or the GIC Account, as the case may be, to have a negative balance and for the avoidance of doubt, the Account Bank shall be under no obligation to monitor the Bank Accounts for this purpose. No liability shall attach to the Account Bank if there are insufficient funds to make a payment in whole or part.
Appears in 2 contracts
Samples: Account Agreement, www.ybs.co.uk
No Negative Balance. Notwithstanding the provisions of Clause 3.1 (Instructions from the Cash Manager) but subject to Clause 3.3(a) (Bank Charges), amounts shall only be withdrawn from the Transaction Account or the GIC Account to the extent that such withdrawal does not cause the Transaction Account or the GIC Account, as the case may be, to have a negative balance and for the avoidance of doubt, the Account Bank shall be under no obligation to monitor the Bank Accounts for this purpose. No liability shall attach to the Account Bank if there are insufficient funds to make a payment in whole or part.
Appears in 1 contract
Samples: Account Agreement
No Negative Balance. Notwithstanding the provisions of Clause 3.1 (Instructions from the Cash Manager) but subject subjec t to Clause 3.3(a)) above, amounts shall only be withdrawn from the Transaction Account or the GIC Account to the extent that such withdrawal does not cause the Transaction Account or the GIC Account, as the case may be, to have a negative balance and for the avoidance of doubt, the Account Bank shall be under no obligation to monitor the Bank Accounts for this purpose. No liability shall attach to the Account Bank if there are insufficient funds to make a payment in whole or part.
Appears in 1 contract
Samples: Bank Account Agreement
