RECEIPT AND DISBURSEMENT OF CASH Sample Clauses

RECEIPT AND DISBURSEMENT OF CASH. A. Custodian shall open and maintain a custody account (the "Account") in the name of VCA-11, subject only to draft or order by Custodian acting pursuant to the terms of this Agreement. Custodian shall hold in the Account all cash received by it from, or for the account of, VCA-11. B. Custodian shall make payments of cash for the account of VCA-11 only (i) for the purchase of securities for the portfolio of VCA-11 upon the delivery of such securities to Custodian, either registered in the mane of VCA-11 of Custodian's nominee referred to in Section 2 below or in bearer form or proper form for transfer, or by Federal Reserve book-entry delivery to Custodian's account for the benefit of VCA-11; (ii) to another Prudential bank for the purpose of making payments to VCA-11 participants or beneficiaries of participants in accordance with their respective contracts as a result of the withdrawal of all or a portion of an accumulation account, an election to purchase an annuity or the payment of a death benefit provided for under the contract; (iii) to Prudential, as a result of the election by a VCA-11 participant or a beneficiary of a participant to transfer all or a portion of his accumulation account to a companion variable or fixed-dollar contract; (iv) to Prudential, upon withdrawal by Prudential or all or part of the proportionate interest in VCA-11 then held by it; (v) for the payment of interest, dividends, taxes, advisory, management or supervisory fees or operating and administrative expenses (including, without limitation, fees and expenses payable to Prudential and fees for legal, accounting and auditing services); (vi) for payments in connection with the conversion, exchange or surrender of securities owned or subscribed to be VCA-11 held by or to be delivered to Custodian; (vii) to any other custodian of the securities or property of VCA-11, or (viii) for other proper account purposes. Before making any such payment, Custodian shall receive (and may rely upon) an officers' certificate, defined in Section 10 below, requesting such payment and stating that it is for a purpose permitted under the terms of items (i) through(vii) of this subsection B, and also, in respect of item (viii), upon receipt of an officers' certificate and a certified copy of a resolution of the VCA-11 Committee specifying the amount of such payment, setting forth the purpose for which such payment is to be made, declaring such purpose to be a proper account purpose and naming th...
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RECEIPT AND DISBURSEMENT OF CASH. 3.1 The Custodian shall open and maintain the Deposit Account for the Company’s Cash held by it. All such Cash shall be held by the Custodian in trust for the Company and shall not form part of the Custodian’s separate assets and the Company shall, in the event of the insolvency or bankruptcy of the Custodian or any similar or analogous event, be entitled to recover the Cash free and clear of all encumbrances and claims of whatsoever nature and howsoever arising against the Custodian by any third party. The Custodian shall be responsible for the safe custody of all Cash so received. 3.2 Upon receipt of Web Instructions, Wire Instructions or Paper Instructions, as appropriate, the Custodian shall make payments of Cash out of the Company’s Deposit Account (to the extent that there is sufficient Cash in the Deposit Account) and shall credit Cash received by the Custodian for the benefit of the Company to the Deposit Account as follows: (a) in connection with the subscription of Investments to be credited to the Securities Account; (b) in connection with the purchase of Investments to be credited to the Securities Account; (c) in connection with the redemption of Investments held in the Securities Account; and (d) in connection with the sale of investments held in the Securities Account; (e) in connection with the transfer of Cash to any successor custodian upon the termination of this Agreement; and (f) for any other proper purpose as determined by the Company or the Manager and agreed to by the Custodian. 3.3 The Custodian is hereby authorized to endorse and collect all checks, drafts or other orders for the payment of money received by it for the Company’s Deposit Account and shall make arrangements for the collection and receipt of all cash distributions and other payments with respect to Investments held hereunder and all other payments due to the Company in respect thereof. Any such collections made by the Custodian shall be paid by the Custodian into the Deposit Account. 3.4 The Custodian shall in its books identify Cash held by it pursuant to this Agreement as being held for the account of the Company and shall (and shall require each agent, delegate or sub-custodian to) segregate in its books and records (and, in the case of any agent, delegate or sub-custodian, hold in a customer account acceptable to the Custodian and the Company) any Cash which is held by it for the Company’s account from cash held by it for the account of others.
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RECEIPT AND DISBURSEMENT OF CASH. A. Custodian shall open and maintain a custody account (the "Account") in the name of VCA-2, subject only to draft or order by Custodian acting pursuant to the terms of this Agreement. Custodian shall hold in the Account all cash received by it from or for the account of VCA-2. B. Custodian shall make payments of cash for the account of VCA-2 only (i) for the purchase of securities for the portfolio of VCA-2 upon the delivery of such securities to Custodian, either registered in the name of VCA-2, or in bearer form or proper form for transfer, or by Federal Reserve book-entry delivery to Custodian's account for the benefit of VCA-2;
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RECEIPT AND DISBURSEMENT OF CASH a. Bank shall open and maintain a separate Deposit Account for the Bond Account, in the name of the Bond Account, subject only to actions by Bank acting pursuant to the terms of this Agreement. Bank shall hold in such accounts, subject to the provisions hereof, all Cash received by it from or for the Bond Account. All Cash held by Bank hereunder shall be subject to withdrawal and deposit by Bank from time to time on behalf of the Bond Account for the purpose of consummating the purchases or sales, as the case may be, of designated securities, solely upon Bank's receipt of express directions in the form of Authorized Instructions in accordance with the provisions of Section 20. Such directions shall include, but are not limited to: (1) the execution and delivery of foreign currency contracts on behalf of the Bond Account; (2) the debiting or crediting of currency accounts (United States or foreign) of the Bond Account held by Bank, pursuant to this Agreement as of settlement date or such other date as specified in such instructions; (3) the purchase of securities, options on securities, futures contracts, options on futures contracts, or other property for the Bond Account but only (i) upon the delivery of such securities or other property or evidence of title for such options on securities, futures contracts or options on futures contracts to Bank, registered in the name of CREF or of the nominee of Bank referred to in Section 10 hereof or in proper form for transfer; (ii) in the case of repurchase agreements for securities entered into between the CREF on behalf of the Bond Account and the Bank, or another bank, or a broker-dealer which is a member of the National Association of Securities Dealers ("NASD") against delivery of the securities either in certificate form or through an entry crediting Bank's account at the Federal Reserve Bank with such securities or against delivery of the receipt evidencing purchase by the Bond Account of securities owned by Bank along with written evidence of the agreement by Bank to repurchase such securities from the Bond Account; or (iii) in the case of a purchase affected through a Securities Depository in accordance with the provisions of
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Related to RECEIPT AND DISBURSEMENT OF CASH

  • Deposit and Disbursement Accounts Disclosure Schedule (3.19) lists all banks and other financial institutions at which any Credit Party maintains deposit or other accounts as of the Closing Date, including any Disbursement Accounts, and such Schedule correctly identifies the name, address and telephone number of each depository, the name in which the account is held, a description of the purpose of the account, and the complete account number therefor.

  • Accounts and Disbursements The Custodian shall establish and maintain a separate account for each Portfolio and shall credit to the separate account all moneys received by it or a Sub-Custodian for the account of such Portfolio and shall disburse, or cause a Sub-Custodian to disburse, the same only: 1. In payment for Securities purchased for the Portfolio, as provided in Section 7 hereof; 2. In payment of dividends or distributions with respect to the Shares of such Portfolio, as provided in Section 11 hereof; 3. In payment of original issue or other taxes with respect to the Shares of such Portfolio, as provided in Section 12(c) hereof; 4. In payment for Shares which have been redeemed by such Portfolio, as provided in Section 12 hereof; 5. In payment of fees and in reimbursement of the expenses and liabilities of the Custodian attributable to the Fund, as provided in Sections 5 and 16(h) hereof; 6. Pursuant to Instructions setting forth the name of the Portfolio and the name and address of the person to whom the payment is to be made, the amount to be paid and the purpose for which payment is to be made.

  • Receipt and Disbursement of Money PFPC Trust, acting upon Written Instructions, shall open and maintain a separate account for each separate Portfolio of the Fund (each an "Account") and shall maintain in the Account of a particular Portfolio all cash and other assets received from or for the Fund specifically designated to such Account. PFPC Trust shall make cash payments from or for the Account of a Portfolio only for: (i) purchases of securities in the name of a Portfolio, PFPC Trust, PFPC Trust's nominee or a sub-custodian or nominee thereof as provided in sub-section (j) and for which PFPC Trust has received a copy of the broker's or dealer's confirmation or payee's invoice, as appropriate; (ii) purchase or redemption of Shares of the Fund delivered to PFPC Trust; (iii) payment of, subject to Written Instructions, interest, taxes (provided that tax which PFPC Trust considers is required to be deducted or withheld "at source" will be governed by Section 14(h)(iii)(B) of this Agreement), administration, accounting, distribution, advisory and management fees which are to be borne by a Portfolio; (iv) payment to, subject to receipt of Written Instructions, the Fund's transfer agent, as agent for the shareholders, of an amount equal to the amount of dividends and distributions stated in the Written Instructions to be distributed in cash by the transfer agent to shareholders, or, in lieu of paying the Fund's transfer agent, PFPC Trust may arrange for the direct payment of cash dividends and distributions to shareholders in accordance with procedures mutually agreed upon from time to time by and among the Fund, PFPC Trust and the Fund's transfer agent; (v) payments, upon receipt of Written Instructions, in connection with the conversion, exchange or surrender of securities owned or subscribed to by the Fund and held by or delivered to PFPC Trust; (vi) payments of the amounts of dividends received with respect to securities sold short; (vii) payments to PFPC Trust for its services hereunder;

  • Costs and Disbursements (a) Except as otherwise provided in this Agreement or in the Schedules to this Agreement, a Recipient of Services shall pay to the Provider of such Services a monthly fee for the Services (or category of Services, as applicable) (each fee constituting a “Service Charge” and, collectively, “Service Charges”), which Service Charges shall be agreed to by the Parties from time to time and generally determined in a manner consistent with the methodology used by HBIO for assessing fees with respect to the HXXX Business; provided further that to the extent the Service Charge for a particular Service is accrued on an hourly basis, such Service Charge shall be paid monthly by the Recipient and include the aggregate amount of the hourly charges for the immediate preceding month. During the term of this Agreement, the amount of a Service Charge for any Services (or category of Services, as applicable) may increase to the extent of: (i) any increases mutually agreed to by the Parties, (ii) any Service Charges applicable to any Additional Services or New Services, and (iii) any increase in the rates or charges imposed by any third-party provider that is providing Services. Together with any monthly invoice for Service Charges, the Provider shall provide the Recipient with documentation to support the calculation of such Service Charges. (b) Recipient shall reimburse Provider for all reasonable out-of-pocket costs and expenses incurred by Provider or its Affiliates in connection with providing the Services to the extent that such costs and expenses are not reflected in the Service Charge for such Services; provided, however, that any such cost or expense not consistent with historical practice between the Parties and exceeding $2,500 per month, for any Service (including business travel and related expenses) shall require advance approval of the Recipient. Any authorized travel-related expenses incurred in performing the Services shall be incurred and charged to Recipient in accordance with Provider’s then applicable business travel policies. (c) The Recipient shall pay the amount of each such invoice by wire transfer (or such other method of payment as may be agreed between the Parties) to the Provider within thirty (30) days of the receipt of each such invoice, including appropriate documentation as described herein, as instructed by the Provider. In the absence of a timely notice of billing dispute in accordance with the provisions of Article IX of this Agreement, if the Recipient fails to pay such amount by the due date, the Recipient shall be obligated to pay to the Provider, in addition to the amount due, interest at an annual default interest rate of three percent (3%), or the maximum legal rate whichever is lower (the “Interest Payment”), accruing from the date the payment was due through the date of actual payment. (d) Subject to the confidentiality provisions set forth in Section 11.03, each Party shall, and shall cause their respective Affiliates to, provide, upon ten (10) days’ prior written notice from the other Party, any information within such Party’s or its Affiliates’ possession that the requesting Party reasonably requests in connection with any Services being provided to such requesting Party by an unaffiliated third-party provider, including any applicable invoices, agreements documenting the arrangements between such third-party provider and the Provider and other supporting documentation; provided, however, that each Party shall make no more than one such request during any fiscal quarter.

  • FEES AND DISBURSEMENTS The fees for Services shall be in accordance with the fee schedule as agreed upon between the Client and the Customs Broker, as amended from time to time (the “Fees”). (a) Disbursements incurred by the Customs Broker on behalf of the Client shall be reimbursed to the Customs Broker by the Client.

  • Notice of Borrowing and Disbursement The Swingline Lender will make Swingline Loans available to the Borrower on any Business Day upon request made by the Borrower not later than 2:00 P.M. (Charlotte, North Carolina time) on such Business Day. A notice of request for Swingline Loan borrowing shall be made in the form of Schedule 2.1(b)(i) with appropriate modifications. Swingline Loan borrowings hereunder shall be made in minimum amounts of $100,000 and in integral amounts of $100,000 in excess thereof.

  • Additional Advances and Disbursements; Costs of Enforcement If any Event of Default exists, Mortgagee and each of the Lenders shall have the right, but not the obligation, to cure such Event of Default in the name and on behalf of Mortgagor in accordance with the Credit Agreement. All sums advanced and expenses incurred at any time by Mortgagee or any Lender under this Section, or otherwise under this Mortgage or any of the other Credit Documents or applicable law, shall bear interest from the date that such sum is advanced or expense incurred if not repaid within five (5) days after demand therefor, to and including the date of reimbursement, computed at the rate or rates at which interest is then computed on the Indebtedness, and all such sums, together with interest thereon, shall be secured by this Mortgage. Mortgagor shall pay all expenses (including reasonable attorneys’ fees and expenses) of or incidental to the perfection and enforcement of this Mortgage and the other Credit Documents, or the enforcement, compromise or settlement of the Indebtedness or any claim under this Mortgage and the other Credit Documents, and for the curing thereof, or for defending or asserting the rights and claims of Mortgagee or the Lenders in respect thereof, by litigation or otherwise.

  • Duties as Collateral and Disbursing Agent Without limiting the generality of clause (a) above, the Administrative Agent shall have the sole and exclusive right and authority (to the exclusion of the Lenders and L/C Issuers), and is hereby authorized, to (i) act as the disbursing and collecting agent for the Lenders and the L/C Issuers with respect to all payments and collections arising in connection with the Loan Documents (including in any proceeding described in Section 9.1(e)(ii) or any other bankruptcy, insolvency or similar proceeding), and each Person making any payment in connection with any Loan Document to any Secured Party is hereby authorized to make such payment to the Administrative Agent, (ii) file and prove claims and file other documents necessary or desirable to allow the claims of the Secured Parties with respect to any Obligation in any proceeding described in Section 9.1(e)(ii) or any other bankruptcy, insolvency or similar proceeding (but not to vote, consent or otherwise act on behalf of such Secured Party), (iii) act as collateral agent for each Secured Party for purposes of the perfection of all Liens created by such agreements and all other purposes stated therein, (iv) manage, supervise and otherwise deal with the Collateral, (v) take such other action as is necessary or desirable to maintain the perfection and priority of the Liens created or purported to be created by the Loan Documents, (vi) except as may be otherwise specified in any Loan Document, exercise all remedies given to the Administrative Agent and the other Secured Parties with respect to the Collateral, whether under the Loan Documents, applicable Requirements of Law or otherwise and (vii) execute any amendment, consent or waiver under the Loan Documents on behalf of any Lender that has consented in writing to such amendment, consent or waiver; provided, however, that the Administrative Agent hereby appoints, authorizes and directs each Lender and L/C Issuer to act as collateral sub-agent for the Administrative Agent, the Lenders and the L/C Issuers for purposes of the perfection of all Liens with respect to the Collateral, including any deposit account maintained by a Loan Party with, and cash and Cash Equivalents held by, such Lender or L/C Issuer, and may further authorize and direct the Lenders and the L/C Issuers to take further actions as collateral sub-agents for purposes of enforcing such Liens or otherwise to transfer the Collateral subject thereto to the Administrative Agent, and each Lender and L/C Issuer hereby agrees to take such further actions to the extent, and only to the extent, so authorized and directed.

  • Disbursement (a) Each Loan shall be made by the relevant Lender from such Lender’s branch or affiliate identified as its Applicable Lending Office. (b) The failure of any Lender to make any Loan to be made by it on the Borrowing Date therefor shall not relieve any other Lender of its obligation to make its Loan or Loans on such date, but neither any Lender nor the Administrative Agent shall be responsible for the failure of any other Lender to make a Loan to be made by such other Lender. (c) The Administrative Agent may, but shall not be required to, advance on behalf of any Lender the amount of such Lender’s Loan to be made on a Borrowing Date, unless such Lender shall have notified the Administrative Agent prior to such Borrowing Date that it does not intend to make such Loan on such date. If the Administrative Agent makes any such advance, the Administrative Agent shall be entitled to recover the amount so advanced on demand from the Lender on whose behalf such advance was made and, if such Lender does not pay the Administrative Agent the amount of such advance on demand, the Borrower agrees promptly to repay such amount to the Administrative Agent. Until such amount is repaid to the Administrative Agent by such Lender or the Borrower, such advance shall be deemed for all purposes to be a Loan made on such Borrowing Date by the Administrative Agent. The Administrative Agent shall be entitled to recover from the Lender or the Borrower, as the case may be, interest on the amount advanced by it for each day from the Borrowing Date therefor until repaid to the Administrative Agent, at a rate per annum equal to the Federal Funds Effective Rate until the third Business Day after the date of the advance and, thereafter, at the rate per annum equal to the relevant rate on Loans made on the relevant Borrowing Date.

  • Deemed Disbursements Upon the occurrence and during the continuation of any Event of Default of the type described in clauses (b) through (d) of Section 8.1.9 with respect to any Obligor (other than Subsidiaries that are not Material Subsidiaries) or, with notice from the Administrative Agent acting at the direction of the Required Lenders, upon the occurrence and during the continuation of any other Event of Default, (a) an amount equal to that portion of all Letter of Credit Outstandings attributable to the then aggregate amount which is undrawn and available under all Letters of Credit issued and outstanding shall, without demand upon or notice to the Borrower or any other Person, be deemed to have been paid or disbursed by the applicable Issuer under such Letters of Credit (notwithstanding that such amount may not in fact have been so paid or disbursed); and (b) upon notification by the Administrative Agent to the Borrower of its obligations under this Section, the Borrower shall be immediately obligated to reimburse the applicable Issuer for the amount deemed to have been so paid or disbursed by such Issuer. Any amounts so payable by the Borrower pursuant to this Section shall be deposited in cash with the Administrative Agent and held as collateral security for the Obligations in connection with the Letters of Credit issued by the applicable Issuer. At such time as the Events of Default giving rise to the deemed disbursements hereunder shall have been cured or waived, the Administrative Agent shall return to the Borrower all amounts then on deposit with the Administrative Agent pursuant to this Section, together with accrued interest at the Federal Funds Rate, which have not been applied to the satisfaction of such Obligations.

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