Receipt and Disbursement of Funds. (a) The Custodian shall open and maintain a separate account or accounts in the name of each Fund of the Trust, subject only to draft or order by the Custodian acting pursuant to the terms of this Agreement. The Custodian shall hold in safekeeping in such account or accounts, subject to the provisions hereof, all funds received by it from or for the account of the Trust. The Trust will deliver or cause to be delivered to the Custodian all funds owned by the Trust, including cash received for the issuance of its shares during the period of this Agreement. The Custodian shall make payments of funds to, or for the account of, the Trust from such funds only:
(i) for the purchase of securities for the portfolio of the Trust upon the delivery of such securities to the Custodian (or to any bank, banking firm or trust company doing business in the United States and designated by the Custodian as its sub-custodian or agent for this purpose or any foreign bank qualified under Rule 17f-5 of the Investment Company Act of 1940 and acting as sub-custodian), registered (if registerable) in the name of the Trust or of the nominee of the Custodian referred to in Section 8 or in proper form for transfer, or, in the case of repurchase agreements entered into between the Trust and the Custodian or other bank or broker dealer (A) against delivery of the securities either in certificate form or through an entity crediting the Custodian's account at the Federal Reserve Bank with such securities or (B) upon delivery of the receipt evidencing purchase by the Trust of securities owned by the Custodian along with written evidence of the agreement by the Custodian bank to repurchase such securities from the Trust;
(ii) for the payment of interest, dividends, taxes, management or supervisory fees, or operating expenses (including, without limitation, Board of Trustees' fees and expenses, and fees for legal, accounting and auditing services) and for redemption or repurchase of shares of the Trust;
(iii) for payments in connection with the conversion, exchange or surrender of securities owned or subscribed to by the Trust held by or to be delivered to the Custodian;
(iv) for the payment to any bank of interest on all or any portion of the principal of any loan made by such bank to the Trust;
(v) for the payment to any person, firm or corporation who has borrowed the Trust's portfolio securities the amount deposited with the Custodian as collateral for such borrowing upon the delivery of...
Receipt and Disbursement of Funds. Upon satisfaction of the conditions set forth in the Transaction Agreement, Samsung will make a deposit with the Agent (such initial deposit together with the earnings thereon, the “Deposit”) an amount of money sufficient to pay the purchase price of all Staktek Stock that Samsung is obligated to purchase from Tendering Shareholders. The Agent shall hold the Deposit in trust for the benefit of the Tendering Shareholders in a segregated fund, invest it as jointly directed by Staktek and Samsung and, upon receipt of a joint direction from Samsung and Staktek, disburse from the Deposit the amounts specified in such joint direction to the payees specified therein. When all such disbursements have been made, the Agent shall disburse the remainder of the Deposit to Samsung.
Receipt and Disbursement of Funds. Shurgard shall cause the establishment of depository bank accounts and interest-bearing bank accounts in the name of the Company and the Subsidiaries at banks approved by the Company; provided, further, that if such accounts have already been established in the name of Shurgard with respect to a Property prior to the contribution of such Property to the relevant Asset Company, then Shurgard may as soon as reasonably possible following the contribution of such Property to the relevant Asset Company cause the bank account to be changed to the name of the relevant Subsidiary instead of the name of Shurgard. Shurgard shall deposit or cause employees to deposit in the depository accounts all receipts and moneys arising from the operation of the Properties or otherwise received for and on behalf of the Subsidiaries. Shurgard may set-up a cash pooling system within the Company and/or the Subsidiaries in order to optimise the Company’s and/or the Subsidiaries’ treasury management. The invoicing of customers of each of the Properties shall be done through a specific structure set-up by Shurgard. Shurgard shall establish and be responsible for administering a policy (consistent with its compliance programs on other properties it owns or manages) for specifying the identity of the persons authorized to initiate payments on such bank accounts, and shall be responsible to the Company and the Subsidiaries for any losses arising from Shurgard’s handling of such funds. However, Shurgard shall not be responsible for losses due to uncollectible rents, nor for losses resulting from theft or unlawful acts of third persons (except to the extent Shurgard or its employees fraud, gross negligence, wilful misconduct or default under this Agreement contributed to such losses).
Receipt and Disbursement of Funds. Payments to the Authority shall be received at its principal executive office. The Treasurer or other designee shall safeguard and invest funds in accordance with the Authority's current Investment Policy. All disbursements (via check or electronic funds transfer) issuing funds of the Authority (for other than the payment of claims) shall require the signatures or approvals of the Treasurer and Chairperson, Vice Chairperson, or other Director or designee as approved by the Board. A register of all checks or electronic funds transfers issued since the last Board meeting shall be provided at each Board meeting and approved by the Board.
Receipt and Disbursement of Funds. (a) Upon receipt of a Notice of Borrowing, the Administrative Agent shall promptly notify each Lender of the contents thereof and of such Lender's share (if any) of such Borrowing and such Notice of Borrowing shall not thereafter be revocable by the Borrower furnishing such notice.
(b) Not later than 12:00 Noon (New York City time) on the date of each Borrowing, each Lender participating therein shall make available its share of such Borrowing, in Federal or other funds immediately available in New York City, to the Administrative Agent for account of the applicable Borrower, at the Agent's account specified on Schedule 1 (or to such other account as the Agent shall advise the Lenders in writing). Unless the Agent determines that any applicable condition specified in Section 4 has not been satisfied, the Agent will make the funds so received from the Lenders available to the Borrower by depositing the same, in immediately available funds, in an account of the Borrower designated by such Borrower.
(c) Unless the Agent shall have received notice from a Lender prior to the time of any Borrowing that such Lender will not make available to the Agent such Lender's share of such Borrowing, the Agent may assume that such Lender has made such share available to the Agent on the date of such Borrowing in accordance with subsection (b) of this Section and the Agent may, in reliance upon such assumption, make available to the applicable Borrower on such date a corresponding amount. If and to the extent that such Lender shall not have so made such share available to the Agent, such Lender and such Borrower severally agree to repay to the Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to such Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of such Borrower, a rate per annum equal to the higher of the Federal Funds effective Rate and the interest rate applicable thereto pursuant to Section 2.4(a) and (ii) in the case of such Lender, the Federal Funds Effective Rate. If such Lender shall repay to the Agent such corresponding amount, such amount so repaid shall constitute such Lender's Credit Loan included in such Borrowing for purposes of this Agreement.
Receipt and Disbursement of Funds. The Partnership is authorized to receive funds from any source. Funds shall be disbursed only by approval of the Board.
Receipt and Disbursement of Funds. The Venture Bank Account shall be used solely for the purpose of the receipt and disbursement of funds as aforesaid and for no other purpose, it being the express intention of the Venturers that under no circumstances shall the funds to be received or disbursed as required herein be co-mingled with any other funds of the Venturers. RECORDS AND BOOKS OF ACCOUNT
Receipt and Disbursement of Funds. The board of directors may designate such other officer or officers who, in addition to or instead of the president or treasurer, shall be authorized to receive and receipt for all moneys due and payable to the Chapter from any source whatever, to endorse for deposit checks, drafts, notes, or other negotiable instruments, and to give full discharges and receipts therefor. Funds of the Chapter may be deposited in such bank or banks as the president or board of directors may from time to time designate or with such other Chapters, firms, or individuals as the board of directors may from time to time designate.
Receipt and Disbursement of Funds. Prior to the delivery to the Custodian of any Property, the Client agrees to provide the Custodian with settlement instructions for the counterparties that the Custodian will frequently deliver to or receive funds from on behalf of the Client, containing the information requested in Appendix 9. To facilitate the Client’s cash instruction process, the Custodian will enter the settlement instructions into its database. The Client then agrees to issue Instructions to the Custodian specifying (i) any changes to the cash counterparties’ settlement instructions, and (ii) settlement instructions with which the Client may use from time to time.
Receipt and Disbursement of Funds. The Trustee shall receive all contributions from the Employer and disburse the Trust in accordance with the provisions of the Agreement and the terms of this Trust Agreement.
