Processing Applications, Account Maintenance Forms and Transactions Sample Clauses

Processing Applications, Account Maintenance Forms and Transactions. Jefferson National shall process and input all Phoenix Contract applications, account maintenance requests and account-related transactions provided to Jefferson National (such services performed by Jefferson National, the "Processing Services"). Jefferson National shall perform such Processing Services in accordance with its Rule 38a-1 compliance policies and procedures as described in Section 3.11 of this Agreement and shall, if and as required by Applicable Law, verify the identity of any actual or prospective contract holder that has made Phoenix Contract application, account maintenance request or account-related transaction request by using the non-public personal information of such actual or prospective contract holder, including but not limited to, such actual or prospective contract holder's address, date of birth, social security number, and other clerical and administrative information (such Jefferson National verification processes for actual or prospective contract holders, the "Identity Checks"). PLIC and PHLVIC expressly disclaim any responsibility on the part of themselves or any of their Affiliates to perform the Identity Checks. The Parties acknowledge that PLIC and PHLVIC are solely responsible for performing background checks on, and appointing in applicable states, any and all agents that are permitted to solicit applications for and sell the Phoenix Contract. PLIC and PHLVIC, as applicable, shall provide sufficient information to Jefferson National to establish such agents in Jefferson National's administrative system.
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  • Account Verification Whether or not a Default or Event of Default exists, Agent shall have the right at any time, in the name of Agent, any designee of Agent or any Borrower, to verify the validity, amount or any other matter relating to any Accounts of Borrowers by mail, telephone or otherwise. Borrowers shall cooperate fully with Agent in an effort to facilitate and promptly conclude any such verification process.

  • Apportionment, Application and Reversal of Payments Principal and interest payments shall be apportioned ratably among the Lenders (according to the unpaid principal balance of the Loans to which such payments relate held by each Lender) and payments of the fees shall, as applicable, be apportioned ratably among the Lenders. All payments shall be remitted to the Agent and all such payments not relating to principal or interest of specific Loans, or not constituting payment of specific fees, and all proceeds of Accounts or other Collateral received by the Agent, shall be applied, ratably, subject to the provisions of this Agreement, first, to pay any fees, indemnities or expense reimbursements then due to the Agent from the Borrower; second, to pay any fees or expense reimbursements then due to the Lenders from the Borrower; third, to pay interest due in respect of all Revolving Loans, including Non-Ratable Loans and Protective Advances; fourth, to pay or prepay principal of the Non-Ratable Loans and Protective Advances; fifth, to pay or prepay principal of the Revolving Loans (other than Non-Ratable Loans and Protective Advances) and sixth, to the payment of any other Obligation including any amounts relating to Bank Products due to the Agent or any Lender or any of their Affiliates by the Borrower. Notwithstanding anything to the contrary contained in this Agreement, unless so directed by the Borrower, or unless an Event of Default has occurred and is continuing, neither the Agent nor any Lender shall apply any payments which it receives to any LIBOR Revolving Loan, except (a) on the expiration date of the Interest Period applicable to any such LIBOR Rate Loan, or (b) in the event, and only to the extent, that there are no outstanding Base Rate Revolving Loans. The Agent shall promptly distribute to each Lender, pursuant to the applicable wire transfer instructions received from each Lender in writing, such funds as it may be entitled to receive, subject to a Settlement delay as provided for in Section 2.2(j). The Agent and the Lenders shall have the continuing and exclusive right to apply and reverse and reapply any and all such proceeds and payments to any portion of the Obligations.

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