Sweeps Clause Samples
The "Sweeps" clause establishes a mechanism for automatically transferring excess funds from one account to another, typically to optimize cash management or meet specific financial thresholds. In practice, this clause may apply to business bank accounts, where surplus balances are regularly moved to investment accounts or used to pay down debt, according to predefined rules or schedules. Its core function is to ensure efficient use of available funds, minimize idle balances, and streamline financial operations for the account holder.
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Sweeps. 2.9.1 Towing for street sweeping operations may be conducted by PPB or Parking Enforcement.
2.9.2 Street sweep operations coordinated by PPB officers will be conducted similarly to those run by Parking Enforcement. Tow Desk will be notified of any unusual circumstances or procedures as soon as they are identified.
2.9.3 Tow Requests during a sweep are not dispatched by the Dispatcher. Parking Enforcement deputies patrol a pre-designated area, issuing citations and tow orders for all vehicles parked in violation of temporary no parking signs.
2.9.4 Tow Contractors are assigned as teams with the Parking Enforcement deputies and simply follow the patrol, towing every vehicle marked with a citation and tow order.
2.9.5 Tow Contractors report all information about the tows to Dispatcher, on a Board- approved form, by facsimile transmission.
2.9.6 Dispatcher will generate a Tow Report Number and promptly enter all tow information and into the Tow Desk database for retrieval by PPB Records.
2.9.7 Dispatcher will report Tow Report Numbers to the Tow Contractors as they are received.
2.9.8 Every 30 minutes during a sweep, Dispatcher will send, by facsimile transmission, a list of all tows performed to Parking Enforcement, Bureau of Maintenance and PPB Records.
Sweeps. The competent authorities may decide to conduct a sweep to check compliance with Union laws that protect consumers’ interests and/or detect infringements. Unless otherwise agreed upon by the competent authorities involved, sweeps shall be coordinated by the Commission.
Sweeps. At any time when the Reserve Accounts are fully funded so that distributions pursuant to paragraph 31(d)(i)(D) would be made, Tenant may request (in writing) that Landlord direct Cash Management Bank to automatically on each Business Day transfer all available funds in the Concentration Account to Tenant or as Tenant may direct, provided that no Event of Default or Put/Call Default then exists.