Treatment of Funding Balance Sample Clauses

Treatment of Funding Balance. Client authorises AFEX to combine Client’s Funding Balance with funds held on behalf of other AFEX clients (collectively “Pooled Funding Balances”) provided that AFEX maintains sufficient accounting records to determine the funds held for the benefit of Client. AFEX will not use Funding Balance or Pooled Funding Balances for operating expenses or any other corporate purpose other than its provision of Services to AFEX clients, including Client.
Sample 1Sample 2Sample 3See All (6)
AutoNDA by SimpleDocs
Treatment of Funding Balance. AFEX may combine Client’s Funding Balance with funds held on behalf of other AFEX clients (collectively “Pooled Funding Balances”). 5.2.1. AFEX will not use Funding Balance or Pooled Funding Balances for its operating expenses or any other corporate purpose other than its provision of Services to the Client. 5.2.2. AFEX shall maintain sufficient accounting records to determine the funds held for the benefit of Client. 5.2.3. AFEX shall at all times own eligible securities having an aggregate market value of not less than the aggregate amount of all of its outstanding payment instrument obligations. 5.2.4. Client acknowledges that Funding Balance is not insured by the Federal Deposit Insurance Corporation (FDIC). As a license requirement, PER_ACC_OPEN_US_0918_AR
Sample 1
Treatment of Funding Balance. AFEX Inc. may combine Client’s Funding Balance with funds held on behalf of other AFEX clients (collectively “Pooled Funding Balances”). AFEX shall maintain sufficient accounting records to determine the funds held for the benefit of Client. AFEX Inc. will not use Funding Balance or Pooled Funding Balances for operating expenses or any other corporate purpose other than its provision of Services to AFEX clients, including Client and to satisfy any collateral obligations with its banks or other financial institutions that arise from the provision of Services to AFEX clients, including Client. For the avoidance of doubt, funds held in the Funding Balance do not relate to Payment Transactions carried out by AFEX UK and are not subject to the Regulations. Client acknowledges and agrees that in the event of AFEX’s insolvency, Client may rank as a general unsecured creditor of AFEX in respect of any claim for return of the Funding Balance.
Sample 1
Treatment of Funding Balance. AFEX Inc. may combine Client’s Funding Balance with funds held on behalf of other AFEX clients (collectively “Pooled Funding Balances”). AFEX shall maintain sufficient accounting records to determine the funds held for the benefit of Client. AFEX Inc. will not use Funding Balance or Pooled Funding Balances for operating expenses or any other corporate purpose other than its provision of Services to AFEX clients, including Client. For the avoidance of doubt, funds held in the Funding Balance do not relate to Payment Transactions carried out by AFEX UK and are not subject to the Regulations. Client acknowledges and agrees that in the event of AFEX’s insolvency, Client may rank as a general unsecured creditor of AFEX in respect of any claim for return of the Funding Balance.
Sample 1

Related to Treatment of Funding Balance

  • Reduction of Funding State must, by law, terminate this Contract if funds are not appropriated or otherwise made available to support State’s continuation of performance of this Contract in a subsequent fiscal period. (§ 18-4-313(4), MCA). If state or federal government funds are not appropriated or otherwise made available through the state budgeting process to support continued performance of this Contract (whether at an initial contract payment level or any contract increases to that initial level) in subsequent fiscal periods, State shall terminate this Contract as required by law. State shall provide Contractor the date State’s termination shall take effect. State shall not be liable to Contractor for any payment that would have been payable had the Contract not been terminated under this provision. As stated above, State shall be liable to Contractor only for the payment, or prorated portion of that payment, owed to Contractor up to the date State’s termination takes effect. This is Contractor’s sole remedy. State shall not be liable to Contractor for any other payments or damages arising from termination under this section, including but not limited to general, special, or consequential damages such as lost profits or revenues.

  • Limitation on Payment of Funding Despite section 4.1, the Funder: (a) will not provide any funds to the HSP until this Agreement is fully executed; (b) may pro-rate the funds identified in Schedule A to the date on which this Agreement is signed, if that date is after April 1; (c) will not provide any funds to the HSP until the HSP meets the insurance requirements described in section 10.4; (d) will not be required to continue to provide funds in the event the HSP breaches any of its obligations under this Agreement, until the breach is remedied to the Funder’s satisfaction; and (e) upon Notice to the HSP, may adjust the amount of funds it provides to the HSP in any Funding Year based upon the Funder’s assessment of the information contained in the Reports.

  • Availability of Funding This Agreement and all claims, suits, or obligations arising under or related to this Agreement are subject to and limited by the receipt and availability of funds which are received from the Participating Entities by NCTCOG dedicated for the purposes of this Agreement.

  • Lack of Funding The Parties recognize that the compensation provided for in this Grant Contract depends on budget approval and appropriations of sufficient grant funds by the Lancaster County Board of County Commissioners (“Grant Funds”). The Parties further recognize that the Sponsor may terminate this Grant Contract in whole or in part immediately upon written notice to Grantee if grant funds do not receive sufficient budget approval or appropriations. The date Project Monitor sends the written notice of termination shall be the date of termination. The Grantee understands and agrees that the Sponsor shall not provide for funding under this Grant Contract from the Lancaster County General Fund, tax revenue, or any other source, and that the sole source of funding for this Grant Contract shall be approved and appropriated Grant Funds. In the event that Grant Funds do not receive sufficient budget approval or appropriations, the Grantee shall be compensated pursuant to the terms of this Grant Contract for authorized Project Account costs charged against the Project Account prior to the date of termination according to the approved Project Budget. Xxxxxxx agrees that Xxxxxxx has no reasonable expectation of payment for unauthorized costs, or for payment of any kind from any other source. The Grantee further understands and agrees that any costs not covered by the current Grant Contract are not authorized.

  • Payment of Funds No federal appropriated funds have been paid or will be paid by or on behalf of the parties to any person for influencing or attempting to influence an officer or employee of any federal agency, a Member of Congress, an officer or employee of Congress, or an employee of a Member of Congress in connection with the awarding of any federal contract, the making of any federal grant, the making of any federal loan, the entering into of any cooperative agreement, and the extension, continuation, renewal, amendment, or modification of any federal contract, grant, loan, or cooperative agreement.

  • Duplication of Funding A. If Grantee receives any funding that is duplicative of funding received under this Grant Agreement/Contract that cannot be used for new or expanded eligible grant activities, Grantee will notify the assigned contract manager as soon as possible. System Agency may issue an amendment modifying budget and/or project activities to eliminate duplication. Additionally, Grantee understands that duplicative funding that cannot be re-programmed to support new or expanded grant-funded activities within the program’s scope may be de- obligated from this Grant Agreement/Contract and returned to System Agency.

  • Repayment of Funds If AMO declares that an Event of Default has not been cured to its exclusive satisfaction, AMO reserves the right to declare that prior payments of Funds become a debt to Canada which the Recipient will reimburse forthwith on demand to AMO for transmission to Canada.

  • Provision of Funding 3.1 In each Funding Year, Ontario Health shall advise the HSP of the amount of its Estimated Provincial Subsidy. The amount of the Estimated Provincial Subsidy shall be calculated on both a monthly basis and an annual basis and will be allocated among the Envelopes and other funding streams applicable to the HSP, including the CFS. nd 3.2 The Estimated Provincial Subsidy shall be provided to the HSP on a monthly basis in accordance with the monthly calculation described in 3.1 and otherwise in accordance with this Agreement. Payments will be made to the HSP on or about the twenty-second

  • Investment of Funds NCPS will not commingle Escrow Funds received by it in escrow with funds of others and shall not invest such Escrow Funds. The Escrow Funds will be held in a non-interest bearing account.

  • Source of Funding DCF shall provide funding information needed for audit purposes, including the name of the program, the Federal agency where the program originated, the CFDA number, and the percentages of Federal, State, and local funds constituting this Contract.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!