SUSPENSE ACCOUNT AND PROOF OF DEBT Sample Clauses

SUSPENSE ACCOUNT AND PROOF OF DEBT. (a) The Bank can place and keep any money received under this Assignment in a non-interest bearing suspense account for as long as the Bank thinks fit, without being obliged to use any part of it towards discharging any liability due or incurred by the Borrower and/or the Assignor.
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SUSPENSE ACCOUNT AND PROOF OF DEBT. Any monies received for the account of the Borrower may be placed and kept to the credit of a suspense account for so long as the Bank may in its absolute discretion deem fit without any obligation in the meantime to apply the same or any part thereof in or towards the discharge of any monies or liabilities due or incurred by the Borrower to the Bank. Notwithstanding any such payment in the event of any proceedings in or analogous to bankruptcy or insolvency liquidation, composition or arrangement of the Borrower, the Bank may prove for and agree to accept any dividend or composition in respect of the whole or any part of the amount outstanding against the Borrower on such general balance in the same manner as if this security had not been created and no monies or dividends so received by the Bank shall be treated as received in respect of this security but the full amount hereby secured shall be payable by the Borrower until the Bank shall have received from all sources one hundred sen in the Ringgit on the ultimate balance outstanding against the Borrower. After the Bank has received such ultimate balance in full any claim on the part of the Borrower to any excess or any securities remaining with the Bank shall be a matter of adjustment between the Bank and the Borrower and/or any other person or persons laying claim thereto.
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SUSPENSE ACCOUNT AND PROOF OF DEBT. Any money received for the account of the Borrower may be placed and kept to the credit of a non-interest bearing suspense account for so long and in such manner as the Lender may in its absolute discretion deems fit and if applied by the Lender in or towards discharge of any monies or liabilities due or incurred by the Borrower, may be applied in such order and proportions as the Lender may in its absolute discretion deems fit. Notwithstanding any such payment in the event of any proceedings in or analogous to bankruptcy or insolvency of the Borrower and/or the Assignor the Lender may prove for and agree to accept any dividend or composition in respect of the whole or any part of the amount outstanding against the Borrower and/or the Assignor on such general balance in the same manner as if this security had not been created and no monies or dividends so received by the Lender shall be treated as received in respect of this security but the full amount hereby secured shall be payable by the Borrower and/or the Assignor until the Lender shall have received from all sources one hundred sen in the Ringgit on the ultimate balance outstanding against the Borrower and/or the Assignor. After the Lender has received such ultimate balance in full any claim on the part of the Borrower and/or the Assignor to any excess or any security remaining with the Lender shall be a matter of adjustment between the Lender and the Borrower and/or the Assignor and/or any other person or persons laying claim thereto.
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SUSPENSE ACCOUNT AND PROOF OF DEBT. 40.1 The Bank can place and keep any money received under this Agreement in a non-interest bearing suspense account for as long as the Bank thinks fit, without any obligation in the meantime to use any part of it towards discharging any liability due or incurred by the Borrower and/or the Security Party.
Sample 1
SUSPENSE ACCOUNT AND PROOF OF DEBT. (a) The Chargee can place and keep any money received under this Charge in a non-income bearing suspense account for as long as the Chargee thinks fit, without being obliged to use any part of it towards discharging any liability due or incurred by the Customer.
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SUSPENSE ACCOUNT AND PROOF OF DEBT. 23.1 The Bank may at any time place and keep any sum or sums of moneys received, recovered or realised by the Bank under or in connection with this Agreement or any other Security Documents in a non-interest bearing suspense account(s) for so long as the Bank thinks fit without being obliged to apply the same (or any part of it) in or towards discharging any liability due or incurred by the Borrower for such purpose as the Bank thinks fit, including but not limited to taking action against the Borrower or any Security Party, or to prove in the insolvency of the Borrower or any Security Party, for any moneys or liabilities at any time owing or payable to the Bank or to preserve the Bank’s interest over the Security under the Security Documents or the liability of the Borrower or any Security Party to the Bank.
Sample 1
SUSPENSE ACCOUNT AND PROOF OF DEBT. 20.1 The Bank may at any time place and keep any sum or sums of moneys received, recovered or realised by the Bank under or in connection with this Agreement or any other Security Documents in a non-profit bearing suspense account(s) for so long as the Bank thinks fit without being obliged to apply the same (or any part of it) in or towards discharging any liability due or incurred by the Customer for such purpose as the Bank thinks fit, including but not limited to taking action against the Customer or any Security Party, or to prove in the insolvency of the Customer or any Security Party, for any moneys or liabilities at any time owing or payable to the Bank or to preserve the Bank’s interest over the Security under the Security Documents or the liability of the Customer or any Security Party to the Bank.
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Related to SUSPENSE ACCOUNT AND PROOF OF DEBT

  • Special Accounts 1. For the purposes of this Schedule:

  • PJM E-Accounts Buyer and Seller shall work with PJM to establish any PJM E-Accounts necessary for Seller to provide Full Requirements Service. In a timely manner, Xxxxx shall establish PJM E-Account contract(s) for the entire duration of the Transaction(s) and Seller shall confirm the PJM E-Account contract(s) for the entire duration of the Transaction(s).

  • Linked Accounts All accounts with the Bank that you enroll in a service will be linked by the tax identification numbers of the persons authorized to access the account. The linked accounts will appear together without regard to the ownership of the accounts. For example, if an authorized user of a linked account accesses the Service, that authorized user will be able to view and access at a single time the following accounts: • the accounts of the business for which that person is an authorized user; • the accounts of any other business for which that person is an authorized user; and • any consumer accounts for which the person is a co-owner or authorized signer.

  • Joint Accounts If any of your accounts accessed under this Agreement are joint accounts, all joint owners, including any authorized users, shall be bound by this Agreement and, alone and together, shall be responsible for all EFT transactions to or from any share and share draft or loan accounts as provided in this Agreement. Each joint account owner, without the consent of any other account owner, may, and is hereby authorized by every other joint account owner, make any transaction permitted under this Agreement. Each joint account owner is authorized to act for the other account owners, and the Credit Union may accept orders and instructions regarding any EFT transaction on any account from any joint account owner.

  • CUSTODIAL ACCOUNTS It is agreed that all accounts opened under the Uniform Gift to Minors Act (UGMA), the Uniform Transfers to Minors Act (UTMA), or similar state statutes will be properly created and that all property so transferred will be done in compliance with such applicable statutes. There will be good faith reliance upon the instructions given, representations made and actions taken by a transferor or custodian. Further, the custodian represents and warrants that the assets in the account belong to the minor and that all such assets, whether or not transferred out of the UGMA or UTMA account, will only be used for the benefit of the minor.

  • 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.

  • Investment of Account Assets a. All contributions to the custodial account shall be invested in the shares of the Provident Trust Mutual Funds, Inc. or, if available, any other series of Provident Trust Mutual Funds, Inc. or other regulated investment companies for which Provident Trust Company serves as Investment Advisor or designates as being eligible for investment. Shares of stock of an Investment Company shall be referred to as “Investment Company Shares”. To the extent that two or more funds are available for investment, contributions shall be invested in accordance with the depositor’s investment election.

  • MEMBER'S ACCOUNTS The Member will maintain separate capital and distribution accounts. The Member's capital account will be determined and maintained in the manner set forth in Treasury Regulation 1.704-1(b)(2)(iv), each capital account will consist of the Member’s initial capital contribution:

  • Interest Bearing Account If the Province provides Funds before the Recipient’s immediate need for the Funds, the Recipient will place the Funds in an interest bearing account in the name of the Recipient at a Canadian financial institution.

  • Withdrawals from Accounts Amounts credited to the Certificate Account and the Trust Account on any Distribution Date shall be withdrawn by Xxxxxx Xxx for application towards the distributions required hereby. In the event that amounts shall remain in the Certificate Account in any month following distribution of the Lower Tier Distribution Amount for such month, such amounts may be withdrawn by Xxxxxx Mae as compensation for its administrative and guaranty obligations or as reimbursement to Xxxxxx Xxx for any advance by it pursuant to such guaranty obligations under Sections 2.04 and 3.07 hereof. Any amount so withdrawn shall no longer be a part of the Lower Tier REMIC.

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