Sweep Operating Account Sample Clauses

Sweep Operating Account. Aspiration shall maintain a sweep operating account in its own name and under its own tax identification number (the “Sweep Operating Account”) at Coastal. Aspiration shall: (a) settle net deposits into the Sweep Operating Account before sweeping them to a Sweep Destination Account; and (b) settle net withdrawals out of a Sweep Destination Account before settling them into a settlement account. If a positive cash balance exists in any settlement account at the close of any business day, Coastal shall pay to Aspiration the cash balance of such settlement account at that time by delivering such positive cash balance to the Sweep Operating Account. If there is a negative cash balance in any settlement account at the close of business on any day, Aspiration will pay to Coastal an amount equal to the negative cash balance of such settlement account at that time by delivering cash from the Sweep Operating Account to such settlement account. Aspiration shall sweep cash balances from the Sweep Destination Account to the Sweep Operating Account, if necessary, only to cover end of day settlement obligations resulting from Aspiration’s Customer’s activity. Aspiration shall not have any obligation to pay Coastal in relation to a negative balance in any settlement account until after Aspiration has swept cash from the Sweep Destination Account to the Sweep Operating Account.