Non-Interest-Bearing Account Sample Clauses

Non-Interest-Bearing Account. For a period of one year from the date hereof, Borrower shall maintain a non-interest bearing deposit account with a minimum balance of $250,000.00 at Senior Bank.
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Non-Interest-Bearing Account. CalABLE will hold Excess Contributions (as previously described) and contributions that cannot be processed (e.g., if there is no identifiable Account to which the contribution should be credited) in a non-interest bearing account. While a contribution is being held in the non- interest bearing account, the contributor may contact CalABLE to claim the funds for a refund. With respect to an Excess Contribution by a third party, if CalABLE has already credited it to the Account (in the case of an Excess Contribution received after December 21 of a calendar year) or refunded it to the Beneficiary, CalABLE will not refund the Excess Contribution to the third party. After a certain period of time, states’ unclaimed property laws may require CalABLE to turn over funds held in the non-interest bearing account to the custody and control of the state of the last known residence of the Beneficiary. None of CalABLE, the Trust, the Board, the state of California, CalABLE’s service providers (including the Program Manager), or any federal or state entity or person, or any officials, directors, officers, employees, agents, representatives, subcontractors, affiliates, subsidiaries, or instrumentalities of the foregoing, will be responsible for any loss, damage, or expense incurred in connection with any funds held in the non-interest bearing account, funds that are refunded from the non-interest bearing account, or funds that are turned over under states’ unclaimed property laws. Maximum Account Balance. Contributions cannot be made over the Maximum Account Balance of $529,000; however, earnings may cause an Account to exceed this maximum. For so long as the assets in an Account are equal to or exceed the Maximum Account Balance, no additional contributions into the Account will be accepted. If the assets in an Account are less than the Maximum Account Balance, additional contributions into the Account will be accepted up to the Maximum Account Balance (subject to any other contribution limits). An Account may continue to grow and accrue earnings beyond the Maximum Account Balance. The Maximum Account Balance may be increased from time to time. You will be notified of any increase. How to Make Contributions. Contributions can be made to your Account only through any of the methods listed below. • Automated Clearing House Transfers (ACH). A contribution to an Account may be made by either a one-time or recurring ACH from a bank checking or savings account, which can be se...
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Non-Interest-Bearing Account. The Escrow Agent shall hold the Escrow Property to “Jxxx X. Xxxxxx, Esq., Attorney Trust Account”, a federally insured, non-interest-bearing IOLTA account until disbursed as provided herein.
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Non-Interest-Bearing Account. Before being invested in the next Main Trade (§ 5.6), funds of the Fund shall be deposited in a non-interest-bearing account in banks and/or brokerage firms selected by the General Partner (§ 3.1) and designated to Unicorn Pairs Fund, LP. Withdrawals from such accounts shall be made only by the General Partner or such other parties as may be approved by the General Partner.
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Non-Interest-Bearing Account. The Escrow Manager shall deposit the Escrow Funds and IR Cash into a non-interest bearing account held with the Bank Escrow Agent.
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Non-Interest-Bearing Account. The Escrow Agent shall deposit the Escrowed Funds in a non-interest-bearing account for the entire term of this Escrow Agreement.
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Non-Interest-Bearing Account. The Landlord shall not be required to keep the Deposit in an interest-bearing account. If the Landlord keeps the Deposit in an interest-bearing account, the Landlord shall receive all of the interest that accrues.
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Non-Interest-Bearing Account. Before being invested in the next Main Trade funds of the Fund shall be deposited in a non-interest-bearing account in banks and/or brokerage firms selected by the Investment Manager and designated to Arbtrust Venture LLC. Withdrawals from such accounts shall be made only by the Investment Manager or such other parties as may be approved by the Investment Manager.
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Related to Non-Interest-Bearing Account

  • Interest Bearing Deposits Upon receipt of Proper Instructions directing the Custodian to purchase interest bearing fixed term and call deposits (hereinafter referred to collectively, as "Interest Bearing Deposits") for the account of the Fund, the Custodian shall purchase such Interest Bearing Deposits in the name of the Fund with such banks or trust companies (including the Custodian, any Subcustodian or any subsidiary or affiliate of the Custodian) (hereinafter referred to as "Banking Institutions") and in such amounts as the Fund may direct pursuant to Proper Instructions. Such Interest Bearing Deposits may be denominated in U.S. Dollars or other currencies, as the Fund may determine and direct pursuant to Proper Instructions. The Custodian shall include in its records with respect to the Assets of the Fund appropriate notation as to the amount and currency of each such Interest Bearing Deposit, the accepting Banking Institution and all other appropriate details, and shall retain such forms of advice or receipt evidencing such account, if any, as may be forwarded to the Custodian by the Banking Institution. The responsibilities of the Custodian to the Fund for Interest Bearing Deposits accepted on the Custodian's books in the United States shall be that of a U.S. bank for a similar deposit. With respect to Interest Bearing Deposits other than those accepted on the Custodian's books, (a) the Custodian shall be responsible for the collection of income as set forth in Section 2.15 and the transmission of cash and instructions to and from such accounts; and (b) the Custodian shall have no duty with respect to the selection of the Banking Institution or, so long as the Custodian acts in accordance with Proper Instructions and the terms and conditions of this Agreement, for the failure of such Banking Institution to pay upon demand. Upon receipt of Proper Instructions, the Custodian shall take such reasonable actions as the Fund deems necessary or appropriate to cause each such Interest Bearing Deposit account to be insured to the maximum extent possible by all applicable deposit insurers including, without limitation, the Federal Deposit Insurance Corporation.

  • 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.

  • Cash Account Except as otherwise provided in Instructions acceptable to Bank, all cash held in the Cash Account shall be deposited during the period it is credited to the Account in one or more deposit accounts at Bank or at Bank's London Branch. Any cash so deposited with Bank's London Branch shall be payable exclusively by Bank's London Branch in the applicable currency, subject to compliance with any Applicable Law, including, without limitation, any restrictions on transactions in the applicable currency imposed by the country of the applicable currency.

  • Pre-Funding Account On the Closing Date, the Depositor shall deposit in the Pre-Funding Account $0.00 (the “Pre-Funding Account Initial Deposit”) from the net proceeds of the sale of the Notes. On each Subsequent Transfer Date, if any, upon satisfaction of the conditions set forth in Section 2.03(b) with respect to such transfer, the Servicer shall instruct the Indenture Trustee to withdraw from the Pre-Funding Account (i) an amount equal to [RESERVED]% of the result of the aggregate Starting Principal Balance of the Subsequent Receivables transferred to the Trust on such Subsequent Transfer Date less the Yield Supplement Overcollateralization Amount with respect to such Subsequent Receivables as of the related Cutoff Date and (ii), on behalf of the Depositor, deposit into the Reserve Account a portion of such funds equal to the Reserve Account Subsequent Transfer Deposit with respect to such Subsequent Transfer Date and distribute the remainder to or upon the order of the Depositor as payment for such Subsequent Receivables. If the Pre-Funded Amount has not been reduced to zero on the Payment Date immediately following the calendar month in which the Funding Period, if any, ends, the Servicer shall instruct the Indenture Trustee to transfer from the Pre-Funding Account on such Payment Date any amount then remaining in the Pre-Funding Account to the Note Distribution Account for distribution in accordance with Section 8.02(g) of the Indenture.

  • Permitted Withdrawals from the Collection Account and Distribution Account (a) The Master Servicer may from time to time make withdrawals from the Collection Account for the following purposes:

  • Certificate Distribution Account The Certificate Distribution Account shall be established as a non-interest bearing trust account pursuant to Section 4.1 of the Sale and Servicing Agreement. Funds on deposit in the Certificate Distribution Account shall be held uninvested. The Certificateholders shall possess all beneficial right, title and interest in and to all funds on deposit from time to time in the Certificate Distribution Account and all proceeds thereof. Except as otherwise provided herein, in the Indenture or in the Sale and Servicing Agreement, the Certificate Distribution Account shall be under the sole dominion and control of the Certificate Paying Agent for the benefit of the Certificateholders. If, at any time, the Certificate Distribution Account ceases to be an Eligible Account, the Servicer on behalf of the Issuer, shall, within ten (10) Business Days (or such longer period) after becoming aware of the fact, establish a new Certificate Distribution Account as an Eligible Account and shall direct the Certificate Paying Agent to transfer any cash then on deposit in the Certificate Distribution Account to such new Certificate Distribution Account.

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