Safekeeping of Funds Sample Clauses

Safekeeping of Funds. So far as is allowed by Applicable Law, the Trustee shall control and hold in trust, in such form and manner as may be necessary to impress a trust thereon as against any creditor or creditors of the Beneficiaries, all funds held pursuant to the terms hereof until such funds are disbursed or otherwise dealt with in accordance with the terms and conditions of this Agreement.
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Safekeeping of Funds. The Bank shall hold all funds deposited in --------------------- the Escrow Account in safekeeping until (i) the release of the Escrowed Funds to Customer pursuant to Section 5 below, or (ii) the return of the Escrowed Funds to the Investors pursuant to Sections 7 and 8 below. Additionally, the Bank will:
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Safekeeping of Funds. The General Partner shall have fiduciary responsibility for the safekeeping of all funds of ASAC and the General Partner shall not employ such funds in any manner except for the benefit of ASAC. All funds of ASAC not otherwise invested shall be deposited in one or more accounts maintained in such banking institution as the General Partner shall determine in the name of ASAC and not in the name of the General Partner. ASAC’s funds shall not be commingled with funds of any other Person nor shall such funds be employed by the General Partner as compensating balances other than in respect of ASAC’s borrowings.
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Safekeeping of Funds. 22 ARTICLE XI AMENDMENTS AND MEETINGS 22
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Safekeeping of Funds. 7.1 All Portfolio Securities held by the Custodian on behalf of a Fund from time to time in its capacity as Custodian shall be held in trust for such Fund in a separate account with the Custodian or a sub-custodian or other financial institution selected by the Custodian.
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Safekeeping of Funds. The Bank shall hold all funds deposited in the Escrow Account in safekeeping until (i) the release of the Escrowed Funds to Customer pursuant to Section 5 below, or (ii) the return of the Escrowed Funds to the Investors pursuant to Sections 7 and 8 below. Additionally, the Bank will: (a) allow the administrators of the states listed in Schedule A the right to inspect and make copies of the records of the Bank at any reasonable time wherever the records are located; (b) notify the administrators of such states in writing upon the release of the Escrowed Funds pursuant to Sections 5 and 8 below; (c) release and return the Escrowed Funds to the Investors with interest and without any deductions for expenses, including expenses of the Bank, in the event that the subscriptions for the Shares are insufficient to meet the minimum offering amount within the time specified in this Agreement 5. Escrow Release (a) At such time as the conditions for the release of the Escrowed Funds shall have been met, as described in Section (b) below (the "Escrow Release"), the Bank shall immediately release and deliver the Escrowed Funds to Customer. (c) As a condition to the release of the Escrowed Funds to Customer, (i) the total amount of the Escrowed Funds must equal or exceed Two Million Dollars ($2,000,000); and (ii) Customer must provide the Bank with a certificate, executed by the Customer under penalties of perjury, that it has received subscriptions for the minimum number of Shares as set forth in its prospectus. 6.
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Safekeeping of Funds. The Board of Directors shall have the responsibility for the safekeeping of all funds of the REIT and the Subsidiary and the Board of Directors shall not employ such funds in any manner except for the benefit of the REIT or the Subsidiary, as the case may be. All funds of the REIT not otherwise invested shall be deposited in one or more accounts maintained in such banking institution as the Board of Directors shall determine in accordance with Article 5 of the Partnership Agreement. All withdrawals from the REIT's accounts shall be made upon checks or instructions signed by the Board of Directors in accordance with Article 5 of the Partnership Agreement. The REIT's funds shall not be commingled with the funds of any other Person nor shall such funds be employed by the Board of Directors as compensating balances other than in respect of the REIT's borrowings.
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Safekeeping of Funds. The Escrow Agent will keep the Escrow Funds, segregated in the Escrow Account until the Escrow Agent releases the Escrow Funds to the Issuer or returns them to the Investors under the terms of this Agreement. Unless the Administrator directs to the contrary, the Escrow Agent will hold the funds deposited in the Escrow Account as directed by the Issuer in a federally insured IOLTA maintained with a bank or financial institution. The Escrow Agent shall be responsible for prudent processing, safeguarding, and accounting for the funds and information entrusted to it by investors and Issuer. Escrow Funds are not assets of the Issuer and are not subject to judgment or creditors’ claims against the Issuer until the Escrow Funds are released to the Issuer under this Agreement.
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Safekeeping of Funds. The General Partner shall have fiduciary responsibility for the safekeeping of all funds of the Fund and the General Partner shall not employ such funds in any manner except for the benefit of the Fund. All funds of the Fund not otherwise invested shall be deposited in one or more accounts maintained in such banking institution as the General Partner shall determine in the name of the Fund and not in the name of the General Partner. All withdrawals from the Fund’s accounts shall be made upon checks or instructions signed by the General Partner (or by electronic transfer authorized electronically by an authorized person of the General Partner). The Fund’s funds shall not be commingled with the funds of any other Person nor shall such funds be employed by the General Partner as compensating balances other than in respect of the Fund’s borrowings.
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Related to Safekeeping of Funds

  • Safekeeping The Servicer (or its Affiliates, but only in accordance with the second following sentence) shall hold the Receivable Files for the benefit of the Issuing Entity and the Indenture Trustee and maintain such accurate and complete accounts, records and computer systems pertaining to each Receivable File as shall enable the Issuing Entity to comply with this Agreement. In performing its duties as custodian, the Servicer shall act with reasonable care, using that degree of skill and attention that the Servicer exercises with respect to the receivable files relating to all comparable equipment receivables that the Servicer services for its Affiliates or others. The Servicer, in its capacity as custodian, may at any time delegate its duties as custodian to any Affiliate of the Servicer; provided, that no such delegation shall relieve the Servicer of its responsibility with respect to such duties and the Servicer shall remain obligated and liable to the Issuing Entity, the Depositor and the Indenture Trustee for its duties hereunder as if the Servicer alone were performing such duties. The Servicer shall conduct, or cause to be conducted, periodic audits of the Receivable Files and the related accounts, records and computer systems, in such a manner as shall enable the Issuing Entity or the Indenture Trustee to verify the accuracy of the Servicer’s record keeping. The Servicer shall promptly report to the Issuing Entity and the Indenture Trustee any material failure on its part, or its Affiliate’s part, to hold the Receivable Files and maintain its accounts, records and computer systems as herein provided and promptly take appropriate action to remedy any such failure. Nothing herein shall be deemed to require an initial review or any periodic review by the Issuing Entity, the Trustee or the Indenture Trustee of the Receivable Files.

  • Disbursement of Funds No later than 1:00 p.m. (local time at the place of funding) on the date specified in each Notice of Borrowing, each Lender will make available its Pro Rata Share of Loans, to fund the Borrowing requested to be made on such date in Dollars, Euro or Sterling, as the case may be, and in immediately available funds, at the Payment Office (for the account of such non-U.S. office of the Administrative Agent as the Administrative Agent may direct in the case of Eurocurrency Loans) and the Administrative Agent will make available to the Borrower at its Payment Office the aggregate of the amounts so made available by the Lenders not later than 2:00 p.m. (local time in the place of payment). Unless the Administrative Agent shall have been notified by any Lender at least one Business Day prior to the date of Borrowing that such Lender does not intend to make available to the Administrative Agent such Lender’s portion of the Borrowing to be made on such date, the Administrative Agent may assume that such Lender has made such amount available to the Administrative Agent on such date of Borrowing and the Administrative Agent may, but shall not be required to, in reliance upon such assumption, make available to the Borrower a corresponding amount. If such corresponding amount is not in fact made available to the Administrative Agent by such Lender on the date of Borrowing, the Administrative Agent shall be entitled to recover such corresponding amount on demand from such Lender. If such Lender does not pay such corresponding amount forthwith upon the Administrative Agent’s demand therefor, the Administrative Agent shall promptly notify the Borrower and, if so notified, the Borrower shall immediately pay such corresponding amount to the Administrative Agent. The Administrative Agent shall also be entitled to recover from the Borrower interest on such corresponding amount in respect of each day from the date such corresponding amount was made available by the Administrative Agent to the Borrower to the date such corresponding amount is recovered by the Administrative Agent, at a rate per annum equal to the rate for Base Rate Loans or Eurocurrency Loans, applicable to the Type of Loan to which such corresponding amount related, for the period in question; provided, however, that any interest paid to the Administrative Agent in respect of such corresponding amount shall be credited against interest payable by the Borrower to such Lender under Section 3.1 in respect of such corresponding amount. Any amount due hereunder to the Administrative Agent from any Lender which is not paid when due shall bear interest payable by such Lender, from the date due until the date paid, at the Federal Funds Rate for amounts in Dollars (and at the Administrative Agent’s cost of funds for amounts in Euros or Sterling or any other Alternative Currency) for the first three days after the date such amount is due and thereafter at the Federal Funds Rate (or such cost of funds rate) plus 1%, together with the Administrative Agent’s standard interbank processing fee. Further, such Lender shall be deemed to have assigned any and all payments made of principal and interest on its Loans, amounts due with respect to its Letters of Credit (or its participations therein) and any other amounts due to it hereunder first to the Administrative Agent to fund any outstanding Loans made available on behalf of such Lender by the Administrative Agent pursuant to this Section 2.7 until such Loans have been funded (as a result of such assignment or otherwise) and then to fund Loans of all Lenders other than such Lender until each Lender has outstanding Loans equal to its Pro Rata Share of all Loans (as a result of such assignment or otherwise). Such Lender shall not have recourse against the Borrower with respect to any amounts paid to the Administrative Agent or any Lender with respect to the preceding sentence; provided, that such Lender shall have full recourse against the Borrower to the extent of the amount of such Loans such Lender has been deemed to have made pursuant to the preceding sentence. Nothing herein shall be deemed to relieve any Lender from its obligation to fulfill its Commitment hereunder or to prejudice any rights which the Borrower may have against the Lender as a result of any default by such Lender hereunder.

  • Payment of Funds No federal appropriated funds have been paid or will be paid by or on behalf of the parties to any person for influencing or attempting to influence an officer or employee of any federal agency, a Member of Congress, an officer or employee of Congress, or an employee of a Member of Congress in connection with the awarding of any federal contract, the making of any federal grant, the making of any federal loan, the entering into of any cooperative agreement, and the extension, continuation, renewal, amendment, or modification of any federal contract, grant, loan, or cooperative agreement.

  • Investment of Funds NCPS will not commingle Escrow Funds received by it in escrow with funds of others and shall not invest such Escrow Funds. The Escrow Funds will be held in a non-interest bearing account.

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