Suspense account Sample Clauses

Suspense account. Any monies received or recovered by the Trustee, the Agent, any Lender or the Hermes Agent under or in connection with the Security Documents and credited to any suspense or impersonal interest bearing security realised account may be held in such account for so long as the Agent thinks fit pending application at the Agent’s discretion in accordance with Clause 12.1 or Clause 12.2 (as the case may be).

Suspense account. All moneys received by the Lender in respect of the Secured Money from a Guarantor may be placed in a separate account which will not reduce the amount of the Loan so that the Lender can maximise its claim in the event of the insolvency of an Obligor.

Suspense account. The Security Trustee and any Creditor Party may, for the purpose of claiming or proving in a bankruptcy of a Borrower or any other Security Party, place any sum received or recovered under or by virtue of this Guarantee or any Security Interest connected with it on a separate suspense or other nominal account without applying it in satisfaction of the Borrowers’ obligations under the Loan Agreement or the Master Agreements.

Suspense account. For the purposes of enabling the Bank to preserve intact the liability of any party including the Cardmember once a writ or summons has been issued or to prove in the Cardmember’s bankruptcy or insolvency or for such other reasons as the Bank thinks fit the Bank may at any time place and keep for such time as the Bank may think prudent any monies received, recovered or realized hereunder or under any other security or guarantee to the Cardmember’s credit as the Bank shall think fit without any intermediate obligation on the part of the Cardmember to apply the same or any part thereof in or towards the discharge of the sums due and owing to the Bank.

Suspense account. Until all amounts which may be or become payable by the Obligors under or in connection with the Finance Documents have been irrevocably paid in full, the Security Trustee and any Secured Party may: (a) refrain from applying or enforcing any other moneys, security or rights held or received by it (or any trustee or agent on its behalf which, in the case of a Secured Party, shall include the Agent and the Security Trustee) in respect of those amounts, or apply and enforce the same in such manner and order as it sees fit (whether against those amounts or otherwise) and the Guarantor shall not be entitled to the benefit of the same; and (b) hold in an interest-bearing suspense account any moneys received from any Guarantor or on account of any Guarantor’s liability under this Guarantee.

Suspense account. The Bank shall place any payment received in accordance to this Agreement to the credit of a non-income bearing suspense account, if necessary. The Bank may apply the payment or any part of it towards discharging any money due, owing or incurred by the Cardholder. However, in the event of any legal proceedings initiated against the Cardholder such as bankruptcy or insolvency, the Bank may prove for and agree to accept any dividend or composition in respect of the whole or any part of the money due, owing or incurred by the Cardholder.

Suspense account. Any and all monies received, recovered or realised by the Pledgee under this Agreement may, at the discretion of the Pledgee, be credited to a suspense or impersonal account and shall bear interest at such rate, if any, as may be agreed in writing between the Pledgee and the Pledgors (and in default of agreement shall bear simple interest at the daily rate paid by the Pledgee on deposit accounts subject to seven (7) days notice of withdrawal from time to time). The monies may be held in such account for as long as the Pledgee may deem fit pending the application from time to time (as the Pledgee shall be entitled to do as it may think fit) of such monies and any accrued interest thereon in or towards the discharge of any of the Secured Obligations.

Suspense account. Any money received in connection with this Deed (whether before or after any Incapacity of the Owner or the Charterer) which would (but for this Deed) have been payable to the Charterer may, if an Event of Default has happened, be placed to the credit of a suspense account with a view to preserving the rights of the Mortgagee to prove for the whole of its and the other Creditors' claims against the Owner or any other person liable or may be applied in or towards satisfaction of the Outstanding Indebtedness.

Suspense account. The Security Trustee may, notwithstanding Clause 9 (Application of Proceeds), place and keep any monies received under this Deed, before or after the insolvency of the Assignor, to the credit of a suspense account in order to preserve the rights of the Security Trustee or the Finance Parties to ▇▇▇ or prove for the whole amount in respect of claims against the Assignor or any other person.