Unallocated Or Unclaimed Cash Sample Clauses

Unallocated Or Unclaimed Cash. ISA 9.1 Generally, we will not hold cash within your Account. 9.2 Cash which we hold on your behalf and which we are either unable to allocate (for example because your instructions are unclear or incomplete) or which we have tried to pay out to you but remains unclaimed will be held outside your ISA in accordance with the Client Money Rules.
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Unallocated Or Unclaimed Cash. 9.1 Generally, we will not hold cash within your ISA. 9.2 Cash which we hold on your behalf and which we are either unable to allocate (for example because your instructions are unclear or incomplete) or which we have tried to pay out to you but remains unclaimed will either be held outside your ISA in accordance with the Client Money Rules or held by the Trustee in accordance with trust law until allocated to you. 9.3 Subject to section 9.2 above, any cash which we hold on your behalf will be held together with money deposited by our other customers in one or more segregated pooled client money bank accounts with such recognised banks that we may from time to time select. In accordance with the Client Money Rules, the accounts will be denominated to make it clear that the money in the account(s) belongs to you and not to us. 9.4 No interest will be paid on any cash held. 9.5 We will provide you with an annual client money statement if we hold a client money balance for you on the October statement date. You have the right to request a client money statement at any time. We may apply a reasonable charge for any additional client money statements that you request. We will advise you of this charge (if any) at the time you make such a request. 9.6 If the bank that is holding your money becomes insolvent, we will attempt to recoup your money on your behalf. However, if the bank cannot repay all the persons to whom it owes money, any shortfall may have to be shared proportionally between all its creditors including you and our other customers. In this situation, you may be eligible to claim under the Financial Services Compensation Scheme (see section 28 (Compensation)). 9.7 In certain circumstances, if we have lost touch with you, we will be permitted to pay your client money balance to charity after six years. We will not do this until we have first made reasonable efforts to contact you. You will still be entitled to recover this money from us at a later date irrespective of whether we have paid the money to charity. 9.8 We will not be responsible for any loss or damages suffered by you because of any error or action taken or not taken by any third parties holding client money in accordance with the Client Money Rules, unless the loss arises because we have been negligent or acted fraudulently or in bad faith.
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Unallocated Or Unclaimed Cash. 8.1 All monies and any other cash which constitutes client money in accordance with the Client Money Rules, will be held in one or more segregated pooled client money bank accounts with such recognised banks that we may from time to time select. Balances on any such account may include the monies of other individuals holding units in the Funds. In accordance with the Client Money Rules, the account will be denominated to make it clear that the money in the account(s) belongs to you and not to us. 8.2 No interest will be paid on any cash held. 8.3 If the bank that is holding your money becomes insolvent, we will attempt to recoup your money on your behalf. However, if the bank cannot repay all the persons to whom it owes money, any shortfall may have to be shared proportionally between all its creditors including you and our other customers. In this situation, you may be eligible to claim under the Financial Services Compensation Scheme (FSCS) (see section 23 (Complaints and Compensation)).
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Related to Unallocated Or Unclaimed Cash

  • Unclaimed Property If there is no record of Card activity for an extended period of time, applicable state law may require the Bank to report the balance on the Card as unclaimed property. If this occurs, we may try to locate the owner of the Card at the address shown in our records. If we are unable to locate you, we may be required to deliver any value remaining on the Card to the state as unclaimed property.

  • Unclaimed Funds If funds for the payment of principal or interest remain unclaimed for two years, the Trustee and the Paying Agent will repay the funds to the Company at its written request. After that, all liability of the Trustee and such Paying Agent with respect to such funds shall cease.

  • Return of Unclaimed Monies Subject to the requirements of applicable law, any monies deposited with or paid to the Trustee for payment of the principal of, premium, if any, or interest on Notes and not applied but remaining unclaimed by the holders of Notes for two years after the date upon which the principal of, premium, if any, or interest on such Notes, as the case may be, shall have become due and payable, shall be repaid to the Company by the Trustee on demand and all liability of the Trustee shall thereupon cease with respect to such monies; and the holder of any of the Notes shall thereafter look only to the Company for any payment that such holder may be entitled to collect unless an applicable abandoned property law designates another Person.

  • Unclaimed Deposits Fifteen (15) months following the Bank Closing Date, the Assuming Institution will provide the Receiver a listing of all deposit accounts, including the type of account, not claimed by the depositor. The Receiver will review the list and authorize the Assuming Institution to act on behalf of the Receiver to send a “Final Legal Notice” in a form substantially similar to Exhibit 2.3A to the owner(s) of the unclaimed deposits reminding them of the need to claim or arrange to continue their account(s) with the Assuming Institution. The Assuming Institution will send the “Final Legal Notice” to the depositors within thirty (30) days following notification of the Receiver’s authorization. The Assuming Institution will prepare an Affidavit of Mailing and will forward the Affidavit of Mailing to the Receiver after mailing out the “Final Legal Notice” in a form substantially similar to Exhibit 2.3B to the owner(s) of unclaimed deposit accounts. If, within eighteen (18) months after Bank Closing, any depositor of the Failed Bank does not claim or arrange to continue such depositor’s Deposit assumed pursuant to Section 2.1 at the Assuming Institution, the Assuming Institution shall, within fifteen (15) Business Days after the end of such eighteen (18) month period, (i) refund to the Receiver the full amount of each such deposit (without reduction for service charges), (ii) provide to the Receiver a schedule of all such refunded Deposits in such form as may be prescribed by the Receiver, and (iii) assign, transfer, convey, and deliver to the Receiver, all right, title, and interest of the Assuming Institution in and to the Records previously transferred to the Assuming Institution and other records generated or maintained by the Assuming Institution pertaining to such Deposits. During such eighteen (18) month period, at the request of the Receiver, the Assuming Institution promptly shall provide to the Receiver schedules of unclaimed deposits in such form as may be prescribed by the Receiver.

  • Return of Unclaimed Moneys Any moneys deposited with or paid to the Trustee or any paying agent for payment of the principal of or premium, if any, or interest on Securities and not applied but remaining unclaimed by the holders of Securities for two years after the date upon which the principal of or premium, if any, or interest on such Securities, as the case may be, shall have become due and payable, shall be repaid to the Company by the Trustee or such paying agent on written demand; and the holder of any of the Securities shall thereafter look only to the Company for any payment which such holder may be entitled to collect and all liability of the Trustee or such paying agent with respect to such moneys shall thereupon cease.

  • Unclaimed Property and Lost Shareholders The Transfer Agent shall report unclaimed property to each state in compliance with state law and shall comply with Section 17Ad-17 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), for lost Shareholders. If the Fund is not in compliance with applicable state laws, there will be no charge for the first two years for this service for such Fund, other than a charge for due diligence notices (reflected on Schedule 5.1) provided that after the first two years, the Transfer Agent will charge such Fund its then standard fee plus any out-of-pocket expenses.

  • Unclaimed Money If money for the payment of principal or interest remains unclaimed for two years, the Trustee or Paying Agent shall pay the money back to the Company at its request unless an abandoned property law designates another Person. After any such payment, Holders entitled to the money must look only to the Company and not to the Trustee for payment.

  • Unused Escrow Funds In the event that a Closing does not occur when required under the Contract, or in the event that the Closing does occur but Escrow Funds remain in an account with Escrow Agent, the Escrow Agent shall notify OPWC in writing promptly thereafter. After receipt of such notice, OPWC shall deliver written instructions to Escrow Agent directing Escrow Agent’s release of the Escrow Funds. Immediately upon Escrow Agent’s receipt of such notice from OPWC, Escrow Agent shall release the Escrow Funds, or balance thereof, in accordance with OPWC’s written instructions.

  • Unclaimed Benefits The Executive shall keep the Employer informed of the Executive’s current address and the current address of the Beneficiary. If the location of the Executive is not made known to the Employer within three years after the date upon which any payment of any benefits may first be made, the Employer shall delay payment of the Executive’s benefit payment(s) until the location of the Executive is made known to the Employer; however, the Employer shall only be obligated to hold such benefit payment(s) for the Executive until the expiration of three (3) years. Upon expiration of the three (3) year period, the Employer may discharge its obligation by payment to the Beneficiary. If the location of the Beneficiary is not made known to the Employer by the end of an additional two (2) month period following expiration of the three (3) year period, the Employer may discharge its obligation by payment to the Executive’s estate. If there is no estate in existence at such time or if such fact cannot be determined by the Employer, the Executive and Beneficiary shall thereupon forfeit all rights to any benefits provided under this Agreement.

  • Deposited Cash and Property You should familiarize yourself with the protections accorded money or other property you deposit for domestic and foreign transactions, particularly in the event of a firm insolvency or bankruptcy. The extent to which you may recover your money or property may be governed by specific legislation or local rules. In some jurisdictions, property which had been specifically identifiable as your own will be pro-rated in the same manner as cash for purposes of distribution in the event of a shortfall.

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