Processing Deposits Sample Clauses

Processing Deposits. Upon Client or Courier’s delivery of a Bag to Bank or Provider, Bank or Provider is authorized to open the Bag and verify the contents, and to credit the contents thereof for the benefit of the designated account of Client. If no account is designated, Bank may credit the deposit for the benefit of any account of Client’s. If the contents of the Bag do not conform to the deposit ticket, Bank will credit only those contents as are found therein that are in compliance with this Service Description and the Supporting Documents. If the aggregate amount of the contents of any Bag, as counted by Bank or Provider, is less than that reported on the deposit slip covering that Bag, Bank will debit the Client’s account by such difference. Client agrees that the record of Bank or Provider as to the contents of the Bag opened by Bank or Provider, including the amount of any Cash contained therein, shall be conclusive evidence of the contents of the Bag. Client agrees that Bank or Provider may endorse checks processed for deposit in a manner chosen by Bank or Provider (for example, "Credit to the Account of the Within Named Payee," "Payment Accepted Without Prejudice," or "Absence of Endorsement Guaranteed"). Bank is not responsible for payor bank acceptance or rejection of the endorsements used. If appropriate after processing, Bank will deposit checks and Cash into Client’s account with Bank and make such funds available to Client in accordance with Bank’s funds availability policy. Bank shall make funds available to Client by credit to Client’s account, and Client remains obligated for all adjustments resulting from adjustments to Client’s account. Neither Bank or Provider will be deemed a bailee, and the risk of damage, loss or shortage is expressly assumed by Client, and Bank and Provider shall have no liability for any such damage, loss or shortage. A notice of any discrepancy between the contents of the Bag and the deposit ticket will be delivered or otherwise made available to Client. Bank reserves the right to return nonconforming items to Client and Client agrees that Bank may charge Client’s account for the return costs. Alternatively, and at Bank’s discretion, Bank may require Client to arrange to pick-up nonconforming items. Client agrees to hold Bank and Provider harmless for any loss or shortage, including that the contents of the Bag fail to conform to the accompanying deposit slip. Client recognizes that in following the instructions of Client, Bank or ...
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Processing Deposits. New Participants. The initial Deposit for a new Participant will be credited to the Participant’s Account Value no later than two (2) Business Days after receipt, if the Deposit is received in good order (with all necessary information). If the Deposit cannot be applied as received, we will notify you and credit the Deposit to the Pending Allocation Account until we receive all necessary information.
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Processing Deposits. Existing Participants. Once we have received your Deposit and have validated your crediting and allocation instructions, we will apply your Deposits for existing Participants pursuant to those instructions as of the Business Day of receipt and validation. Deposits are processed on Business Days only. If a Deposit cannot be applied as received, we will credit the Deposit to the Pending Allocation Account until we receive all necessary information.
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Processing Deposits. When you make a deposit, we will act only as your collection agent and will not be responsible beyond the exercise of good faith and ordinary care. All deposits are provisionally credited subject to our receipt of final payment. If you deposit a check or transfer funds into your Account and the check or transfer is returned to us by the paying financial institution for any reason, you agree that we may deduct the amount of the check or transfer against your Account, without prior written notice to you. We may send the returned check or transfer back for collection a second time without notifying you, and you waive any notice of dishonor and protest. At our discretion, we may return, reject, and/or refuse to accept a deposit; for example, we may refuse to accept a transfer to your Account if we believe that accepting the transfer would cause us to violate any applicable law (e.g., sanctions related to the Office of Foreign Assets Control (“OFAC”) or cause your Account to exceed the applicable Maximum Deposit Limitation, discussed previously.
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Processing Deposits. Accepting or Cashing Items for Deposit We may accept, accept for collection only, refuse, or return all or part of any deposit. We may also impose any requirements or conditions before we accept a deposit, such as requiring an acceptable form of identification, an endorsement guarantee or requiring an item to be endorsed by all parties to whom the items are payable. For example, we may refuse an item for deposit if:  an item is made out to a payee not on your account (i.e., third party payee)  we cannot verify an endorsement on an item  it is a non-U.S. item  it is an item issued on a credit account (e.g., credit card convenience check)  it is a cash deposit made into consumer accounts by non- account owners We generally cannot verify that checks, money orders, cashier’s checks or other items are authentic, valid or issued against good funds at the time you ask us to cash or deposit them. If we accept an item for deposit:  we are not required to question the identity and authority of the person making the deposit  and your account is overdrawn, we may use the deposit to pay the overdraft and any fees due  and the deposit is not paid for any reason or is later determined to be unauthorized, we may charge your account for the amount of the deposit, even if this causes your account to be overdrawn You agree and warrant that:  you will not knowingly deposit an item into your account that you know is not authorized or does not contain an authorized signature of the person on whose account it is drawn;  you will not deposit with us or any other financial institution an item that has been previously or on the same day deposited using electronic deposit, such as through mobile banking or other deposit imaging service. If you make such a duplicate deposit, you agree to fully reimburse us for any Loss incurred; and  you will not deposit an ECI, which is an electronic image that has all the attributes of an electronic check but is not originally derived from a paper check. You further warrant that any item you deposit has been created from a paper check. If you create or deposit an ECI, you agree to indemnify us for any Loss resulting from a breach of these warranties and to fully reimburse us for any Loss incurred. Deposit Slips You may order your deposit slips through us or you may use an outside vendor. If you order through us, we may receive compensation from our vendor. If you use an outside vendor, your deposit slips must conform to our specification...
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Processing Deposits. You authorize any persons designated by CIBC to act as agents of you to remove each Client Wallet from the Depository, if applicable, to transport the Wallet for processing to a location away from the Depository location, and to open the Wallet, list the contents and present such contents to the appropriate CIBC officer or any person designated by CIBC; unless and until such contents are accepted for deposit by such last mentioned person on behalf of CIBC, such Wallet and contents shall be at your sole risk without liability on CIBC's part for safekeeping or otherwise howsoever and no deposit to the credit of your designated Bank Account shall be deemed to have been made.
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Processing Deposits. You authorize any persons with paragraph 1(h) above as if the Designate was the Authorized designated by CIBC to act as agents of you to remove each User referred to in that paragraph. Client Wallet from the Depository, if applicable, to transport the Wallet for processing to a location away from the
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Related to Processing Deposits

  • Initial Deposits On the Closing Date and on each Addition Date thereafter, the Servicer will deposit (in immediately available funds) into the Collection Account all Collections received after the applicable Cut-Off Date and through and including the Closing Date or Addition Date, as the case may be, in respect of Eligible Assets being transferred to and included as part of the Collateral on such date.

  • Establishment of Custodial Account; Deposits in Custodial Account The Seller shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts (collectively, the “Custodial Account”), titled “PrimeLending, in trust for Redwood Residential Acquisition Corporation as Purchaser of Mortgage Loans and various Mortgagors.” Such Custodial Account shall be an Eligible Account established with a commercial bank, a savings bank or a savings and loan association (which may be a depository affiliate of the Seller) which meets the guidelines set forth by the FHFA, Fxxxxx Mxx or Fxxxxxx Mac as an eligible depository institution for custodial accounts. The Custodial Account shall not be transferred to any other depository institution without the Purchaser’s approval, which shall not unreasonably be withheld. In any case, the Custodial Account shall be insured by the FDIC in a manner which shall provide maximum available insurance thereunder and which may be drawn on by the Seller. The Seller shall deposit in the Custodial Account on a daily basis, and retain therein the following payments and collections received or made by it subsequent to the related Cut-off Date (other than in respect of principal and interest on the Mortgage Loans due on or before the related Cut-off Date):

  • Custodial Accounts It is agreed that all accounts opened under the Uniform Gift to Minors Act (UGMA), the Uniform Transfers to Minors Act (UTMA), or similar state statutes will be properly created and that all property so transferred will be done in compliance with such applicable statutes. There will be good faith reliance upon the instructions given, representations made and actions taken by a transferor or custodian. Further, the custodian represents and warrants that the assets in the account belong to the minor and that all such assets, whether or not transferred out of the UGMA or UTMA account, will only be used for the benefit of the minor.

  • Establishment of Custodial Accounts; Deposits in Custodial Accounts The Seller shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts, in the form of time deposit or demand accounts. The creation of any Custodial Account shall be evidenced by a Custodial Account Letter Agreement in the form of Exhibit 7. The Seller shall deposit in the Custodial Account on a daily basis, and retain therein the following payments and collections received by it subsequent to the Cut-off Date, or received by it prior to the Cut-off Date but allocable to a period subsequent thereto, other than in respect of principal and interest on the Mortgage Loans due on or before the Cut-off Date:

  • Withdrawals From the Custodial Account The Servicer shall, from time to time, withdraw funds from the Custodial Account for the following purposes:

  • Reserve Accounts All reserves, escrows and deposit accounts required under the Loan Documents and all cash, checks, drafts, certificates, securities, investment property, financial assets, instruments and other property held therein from time to time and all proceeds, products, distributions or dividends or substitutions thereon and thereof;

  • 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.

  • Lockboxes To the extent items deposited to a Collateral Account have been received in one or more post office lockboxes maintained for Company by Bank (each a “Lockbox”) and processed by Bank for deposit, Company acknowledges that Company has granted Secured Party a security interest in all such items (the “Remittances”). During the term of this Agreement, neither Company nor Servicer will have any right or ability to instruct Bank regarding the receipt, processing or deposit of Remittances, and Secured Party alone will have the right and ability to so instruct Bank. Company, Servicer and Secured Party acknowledge and agree that Bank’s operation of each Lockbox, and the receipt, retrieval, processing and deposit of Remittances, will at all times be governed by Bank’s Master Agreement for Treasury Management Services or other applicable treasury management services agreement, and by Bank’s applicable standard lockbox Service Description.

  • Disbursement Account 12.1 The Lender is obligated to keep the bank account information provided on the Platform up to date. The account shall be managed by a bank within the Single Euro Payment Area (hereinafter “SEPA”).

  • Establishment of Escrow Account; Deposits in Escrow Account With respect to those Mortgage Loans on which the Servicer or any Sub-Servicer collects Escrow Payments, if any, the Servicer shall, and shall cause the Sub-Servicer to, segregate and hold all funds collected and received pursuant to each such Mortgage Loan which constitute Escrow Payments separate and apart from any of its own funds and general assets and shall establish and maintain one or more Escrow Accounts, in the form of trust accounts. Such Escrow Accounts shall be established with a commercial bank, a mutual savings bank or a savings and loan association the deposits of which are insured by the FDIC in a manner which shall provide maximum available insurance thereunder, and which may be drawn on by the Servicer. The Servicer shall give notice to the Trustee of the location of any Escrow Account, and of any change thereof, prior to the use thereof. Nothing in this paragraph shall be deemed to require the Servicer to collect Escrow Payments in the absence of a provision in the related Mortgage requiring such collection. The Servicer shall deposit, or cause to be deposited, in any Escrow Account or Accounts on a daily basis, and retain therein, (i) all Escrow Payments collected on account of any Mortgage Loans, for the purpose of effecting timely payment of any such items as required under the terms of this Agreement and (ii) all amounts representing proceeds of any hazard insurance policy which are to be applied to the restoration or repair of any Mortgaged Property. The Servicer shall make withdrawals therefrom only to effect such payments as are required under this Agreement, and for such other purposes as are set forth in Section 5.11. The Servicer shall be entitled to retain any interest paid on funds deposited in the Escrow Account by the depository institution other than interest on escrowed funds required by law to be paid to the related Mortgagor and, to the extent required by law, the Servicer shall pay interest on escrowed funds to the related Mortgagor notwithstanding that the Escrow Account is non-interest-bearing or that interest paid thereon is insufficient for such purposes.

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