Overdrawn Account. 7.1 If Person takes more crude helium from the Federal Helium System than it has in storage in the Federal Helium System (referred to as an overdrawn account), Person agrees as follows:
(a) Verbal notification from the United States that the storage account is overdrawn constitutes sufficient initial official notification. The United States will confirm the notification by subsequent mail or e-mail.
(b) Person will shut the valve connecting its facilities to the Federal Helium Pipeline, and keep it closed until notified by the United States that it can be opened.
(c) Person agrees to pay $5,000 to the United States as liquidated damages and to transfer to the United States’ ownership two times the volume of helium overdrawn.
(d) If Person overdraws its storage account for more than 30 days in a Contract Year, the United States may, at its discretion, declare Person ineligible to receive helium deliveries for a period of up to one year.
(e) The remedies provided in this Article are not in derogation of any other remedy available to the United States by law.
Overdrawn Account. 11.1 You must ensure that the Account does not become overdrawn.
11.2 The Account Issuer may, in its discretion, allow the Account to be overdrawn. The Account Issuer has no obligation to do so.
11.3 If for any reason the Account becomes overdrawn, you must immediately pay the debit balance of the Account to us in order to allow us to restore the Account to a credit balance.
Overdrawn Account. 1. Notwithstanding Article 6 of the General Agreement, in the event that SMBC Trust Bank at its discretion permits withdrawal exceeding the maximum permitted amount of withdrawal, the Depositor shall forthwith repay said excess (the "Excess") amount upon SMBC Trust Bank's demand.
2. The penalty interest rate applicable to the Excess shall be fourteen percent (14%) per annum, and the interest shall be calculated in such a manner as SMBC Trust Bank shall prescribe.
3. Any amount deposited or transferred to a Yen Checking Account, after SMBC Trust Bank permits a withdrawal as described in Paragraph 1 of this Article 4, shall be applied to cover the Excess.
4. In the event that either the Excess or the penalty interest provided for in Paragraph 2 of this Article 4 is not paid, SMBC Trust Bank may set off the same against any deposit or other obligation of SMBC Trust Bank owed to the Depositor regardless of the maturity date of said deposit or obligation.
5. In the event that there is any Excess, SMBC Trust Bank shall treat any Instruments, etc. deposited or transferred into a Yen Checking Account as the security for the Excess.
Overdrawn Account. If it happens that, the customer’s account overdraws by customer taking excess funds than correct entitlement, the Bank reserves the right to charge fees for the excess amount and customer shall be obliged to settle the excess amount including the fee charged in full.
Overdrawn Account. The Contractor may issue checks or/and other checks approved by the Bank from the designated check deposits account in the Bank since the execution of the Agreement. All overdrawn amounts in the designated account before execution will be repaid in accordance with this Overdrawn Contract.
Overdrawn Account.
7.1 This next section applies only between the United States and Person and addresses both overdraws of a monthly allocation (see 1.3) of Person’s total storage volume and overdraws during the final withdrawal of Person’s remaining Primary and Secondary Private Helium under this Contract (if Person’s final withdrawal occurs during the United States’ management of the Federal Helium System) and associated potential disconnection from the Federal Helium System.
(a) The United States will provide e-mail notification that the storage account is overdrawn.
(b) For any month for which companies are under an allocation, if Person overdraws more crude helium from the Federal Helium System than Person is allocated for that month, the United States will reduce delivery to Person in the next month by a volume equal to Person’s overdrawn volume.
(c) Upon notification by the United States, Person will shall work to rectify the overdraw of the monthly allocation and will not withdraw anymore until the United States notifies Person that Person may resume withdrawal.
(d) If overdraw is associated with shutting in of the meter and permanent disconnection from the Federal Helium System or Helium System, and if helium is overdrawn by more than 10 Mcf, Person agrees to pay $5,000 to the United States as liquidated damages.
(e) For overdraws other than those associated with (d), if Person overdraws its storage account for more than one monthly allocation period in a Contract Year, the United States may at its discretion, declare Person ineligible to receive helium deliveries for a period of up to three months. The fine noted in 7.1(d) only applies for overdraws described in (d).
(f) The remedies provided in this Article are not in derogation of any other remedy available to the United States, as applicable, by law.
