Store Accounts Clause Samples

The Store Accounts clause establishes the procedures and requirements for maintaining and managing financial accounts related to a store's operations. Typically, this clause outlines how sales, expenses, and other financial transactions must be recorded, reported, and reconciled, often specifying the frequency of account statements and the responsibilities of each party in reviewing and correcting discrepancies. Its core practical function is to ensure transparency and accuracy in financial dealings between parties, thereby reducing the risk of disputes and facilitating smooth business operations.
Store Accounts. Depository accounts in depository institutions for, or on behalf of, the Borrower or any of its Subsidiaries and listed on Schedule 7.20 hereto (as such may be amended from time to time in accordance with the terms hereof).
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Store Accounts. The Loan Parties shall deposit all cash proceeds from sales of Inventory in every form, including, without limitation, cash and checks from each Store into the Store Account of such Loan Party used solely for such purpose in accordance with the then current practices of such Loan Party, but in any event no less frequently than once every Business Day. All collected funds on deposit in the Store Accounts shall be sent by wire transfer or other electronic funds transfer on each Business Day to the Blocked Accounts, except nominal amounts which are required to be maintained in such Store Accounts under the terms of such Loan Party’s arrangements with the bank at which such Store Accounts are maintained, and except as the Agent may otherwise agree.
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Store Accounts. The Seller will not open or close any Store Account, unless the Purchaser and its assigns shall have received prior notice of such change (including an updated Exhibit E) and a fully executed Bank Direction Agreement with respect to each new Store Account.
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Store Accounts. If the Boat Owner request a store account for the purpose of charging store goods and
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Store Accounts. Borrowers have granted a security interest to Lender in the Collateral, including, without limitation, all Inventory, Credit Card Receivables and other Accounts. Except as otherwise set forth in Section 2.3(b) hereof with respect to Credit Card Receivables and other Accounts, and except for cash on hand maintained at store locations in the ordinary course of Borrowers’ business and consistent with historical practices (but in an amount not to exceed $1,000 for any store location at the beginning of any Business Day), or as otherwise agreed by Lender in writing, all Proceeds of Inventory and other Collateral, upon receipt or collection, shall be deposited each Business Day into the collection Account No. xxxxx maintained by Borrowers with the Cash Management Bank (the “Collection Account”), or into a Store Account for transfer not less than once during each business week (except to the extent that Lender in its sole discretion agrees to less frequent transfers) from such Store Account to the Collection Account; provided that all Proceeds of Inventory and other Collateral in the Bank of America Collection Account shall be deposited each Business Day into the Collection Account. Funds so deposited are the Collateral of Lender, and may only be withdrawn from Store Accounts for deposit to the Collection Account. Borrowers and/or Lender shall cause the transfer of all collected funds in the Collection Account to be transferred by the Cash Management Bank to Lender on each Business Day for application by the Lender to the outstanding balance of the Line of Credit Usage. In the event there are no Obligations outstanding under the Line of Credit, Lender shall promptly transfer any excess funds to the Cash Management Bank for credit to the Borrowers’ Operating Account. Until deposited into a Store Account or the Collection Account, Borrowers will hold all such payments and Proceeds in trust for Lender without commingling with other funds or property. All deposits held in any Store Account or the Collection Account shall constitute Proceeds of Collateral and shall not constitute payment of Obligations.
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Store Accounts. The definition of “Store Accounts” shall be amended and restated in its entirety to read as follows:
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Store Accounts. The Loan Parties shall deposit all cash proceeds from sales of Inventory in every form, including, without limitation, cash and checks from each Store into the Store Account of such Loan Party used solely for such purpose in accordance with the then current practices of such Loan Party, but in any event no less frequently than once every Business Day. All collected funds on deposit in the Store Accounts shall be sent by wire transfer or other electronic
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Store Accounts. ­- (i) Maintenance of Priced Store Ledgers for Factory Stock (including components where desirable) and audit of medical store ledgers (ii) Audit of Local Purchase Bills and check of expendi­ture (and commitments) against allotment Valuation of Material Audit of material issues and allocation (on the basis of data furnished by the Management) of material charges. Verification of stock now entrusted to an independent staff under DGOF Association with the factory staff in the- Preparation and scrutiny of Indents, demands etc Preparation of budgets and periodical reports in MGO Form-7 (Ordnance Factories). Comparison of Store Ledger balance with Bin Card Balances
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Store Accounts. If the Boat Owner request a store account for the purpose of charging store goods and /or Marina services to said account a charge card must be placed on file with the Marina for the purpose of drafting automatic payments on the Monday following any account charges. An immediate suspension of said store account, and launch privileges, will be imposed in the event a payment is not secured on the designated billing date.
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Related to Store Accounts

  • Separate Accounts If the Fund has more than one series or portfolio, the Bank will segregate the assets of each series or portfolio to which this Agreement relates into a separate account for each such series or portfolio containing the assets of such series or portfolio (and all investment earnings thereon). Unless the context otherwise requires, any reference in this Agreement to any actions to be taken by the Fund shall be deemed to refer to the Fund acting on behalf of one or more of its series, any reference in this Agreement to any assets of the Fund, including, without limitation, any portfolio securities and cash and earnings thereon, shall be deemed to refer only to assets of the applicable series, any duty or obligation of the Bank hereunder to the Fund shall be deemed to refer to duties and obligations with respect to such individual series and any obligation or liability of the Fund hereunder shall be binding only with respect to such individual series, and shall be discharged only out of the assets of such series.

  • Business Accounts If you are a business, any authorized user of your business is authorized on such terms, conditions, and agreements as we may require to: • enter into this Agreement, as amended from time to time; • access each account of yours in any manner and for any purpose available through the Service, whether now available or available at some time in the future; and • use any Online banking service in any manner and for any purpose available through the Service, whether now available or available at some time in the future.

  • Collection Accounts (a) On behalf of the Trustee, each Servicer shall establish and maintain, or cause to be established and maintained, one or more separate Eligible Accounts (each such account or accounts, a "Collection Account"), held in trust for the benefit of the Trustee. On behalf of the Trustee, each Servicer shall deposit or cause to be deposited in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such Servicer's receipt thereof, and shall thereafter deposit in the related Collection Account, in no event more than two Business Days after the deposit of such funds into the clearing account, as and when received or as otherwise required hereunder, the following payments and collections received or made by it subsequent to the Cut-off Date (other than in respect of principal or interest on the related Mortgage Loans due on or before the Cut-off Date), or payments (other than Principal Prepayments) received by it on or prior to the Cut-off Date but allocable to a Due Period subsequent thereto: (i) all payments on account of principal, including Principal Prepayments, on the Mortgage Loans; (ii) all payments on account of interest (net of the related Servicing Fee) on each Mortgage Loan; (iii) all Insurance Proceeds and Condemnation Proceeds to the extent such Insurance Proceeds and Condemnation Proceeds are not to be applied to the restoration of the related Mortgaged Property or released to the related Mortgagor in accordance with the express requirements of law or in accordance with Accepted Servicing Practices and Liquidation Proceeds; (iv) any amounts required to be deposited pursuant to Section 3.12 in connection with any losses realized on Permitted Investments with respect to funds held in the related Collection Account; (v) any amounts required to be deposited by such Servicer pursuant to the second paragraph of Section 3.13(a) in respect of any blanket policy deductibles; (vi) all proceeds of any Mortgage Loan repurchased or purchased in accordance with this Agreement; and (vii) all Prepayment Charges collected or paid (pursuant to Section 3.07(a)) by such Servicer. The foregoing requirements for deposit in the Collection Accounts shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments in the nature of late payment charges, NSF fees, reconveyance fees, assumption fees and other similar fees and charges need not be deposited by each Servicer in the related Collection Account and shall, upon collection, belong to the applicable Servicer as additional compensation for its servicing activities. In the event a Servicer shall deposit in the related Collection Account any amount not required to be deposited therein, it may at any time withdraw such amount from its Collection Account, any provision herein to the contrary notwithstanding. (b) Funds in the Collection Accounts may be invested in Permitted Investments in accordance with the provisions set forth in Section 3.12. Each Servicer shall give notice to the Trustee of the location of the related Collection Account maintained by it when established and prior to any change thereof in accordance with Section 3.07(f).

  • Cash Accounts The Custodian will open and maintain in the name of the Client one or more cash deposit accounts (each a “Cash Account”) in such currencies as may be required in connection with the investment activity of the Client.

  • Investment Accounts Schedule 2 sets forth under the headings “Securities Accounts” and “Commodity Accounts”, respectively, all of the Securities Accounts and Commodity Accounts in which such Grantor has an interest. Except as disclosed to the Administrative Agent, such Grantor is the sole entitlement holder of each such Securities Account and Commodity Account, and such Grantor has not consented to, and is not otherwise aware of, any Person (other than the Administrative Agent) having “control” (within the meanings of Sections 8-106 and 9-106 of the UCC) over, or any other interest in, any such Securities Account or Commodity Account or any securities or other property credited thereto, except for, subject to the relevant Control Agreement, the account bank party to such Control Agreement; (a) Schedule 2 sets forth under the heading “Deposit Accounts” all of the Deposit Accounts in which such Grantor has an interest and, except as otherwise disclosed to the Administrative Agent, such Grantor is the sole account holder of each such Deposit Account and such Grantor has not consented to, and is not otherwise aware of, any Person (other than the Administrative Agent) having either sole dominion and control (within the meaning of common law) or “control” (within the meaning of Section 9-104 of the UCC) over, or any other interest in, any such Deposit Account or any money or other property deposited therein, except for, subject to the relevant Control Agreement, the account bank party to such Control Agreement; and (b) Except as otherwise permitted under Section 5.6 and Section 5.7, such Grantor has taken all actions necessary or desirable to: (i) establish the Administrative Agent’s “control” (within the meanings of Sections 8-106 and 9-106 of the UCC) over any Certificated Securities (as defined in Section 9-102 of the UCC); (ii) establish the Administrative Agent’s “control” (within the meanings of Sections 8-106 and 9-106 of the UCC) over any portion of the Investment Accounts constituting Securities Accounts, Commodity Accounts, Securities Entitlements or Uncertificated Securities (each as defined in Section 9-102 of the UCC); (iii) establish the Administrative Agent’s “control” (within the meaning of Section 9-104 of the UCC) over all Deposit Accounts other than Exempt Accounts; and (iv) deliver all Instruments (as defined in Section 9-102 of the UCC) to the Administrative Agent to the extent required hereunder, provided, that the Administrative Agent shall not send a notice of sole control or similar notice unless an Event of Default has occurred and is continuing.