Vault Account Sample Clauses

Vault Account. Your Believe Card is secured by a Vault Account that is established when you are issued a Believe Card. As you make purchases on your Believe Card, the purchase amount will be deducted from your Varo Bank Account and moved into the Vault Account. If you try to make a purchase that cannot be secured based on the balance of your Varo Bank Account, the transaction will be declined. After the billing cycle ends, your Statement Balance can be auto paid in full from the Vault Account. Funds in the Vault Account can only be used to pay down your monthly Statement Balance. You will not earn interest on the funds in the Vault Account. The Vault Account is described more completely below in Section II (Vault Account Agreement and Disclosures).
Sample 1
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Vault Account. Your Believe Card is secured by the Vault Account which is established when you are issued a Believe Card. As you make purchases on your Believe Card, the purchase amount will be deducted from your Varo Bank Account and moved into the Vault Account. If you try to make a purchase that cannot be secured based on the balance of your Varo Bank Account at the time of the purchase, the transaction will be declined. Any funds in the Vault Account which are securing an outstanding balance on the Believe Card cannot be utilized by you for any purpose. You will also not have any access to any funds in the Vault Account which are securing an outstanding balance on the Believe Card prior to the end of the billing cycle. You will not earn interest on the funds in the Vault Account. After the billing cycle ends, your Statement Balance on your Believe Card can be automatically paid from the Vault Account by selecting the Safe Credit Builder option at enrollment, or by enabling automatic payments at any time thereafter. In the event that there are excess funds in the Vault Account—above and beyond funds necessary to secure your outstanding balance on the Varo Believe Card—such excess funds will be deposited into your Varo Bank Account within 5 business days of the determination of excess funds. You cannot make deposits or withdrawals directly to or from your Vault Account other than permitted transactions between your Varo Bank Account or your Varo Believe Account including automatic deposits into the Vault Account when you use your Believe Card and withdrawals from your Vault Account to pay the Statement Balance on your Believe Card. If, at the end of a billing cycle, you choose to pay your Believe Card’s Statement Balance by a means permitted under the Believe Agreement other than by using funds in your Vault Account, Varo will transfer funds equal to the amount of your payment or your Statement Balance (whichever is less) from your Vault Account to your Varo Bank Account within 5 business days of the receipt of your payment.
Sample 1
Vault Account. The Secured Funds in the Vault Account, which are securing an outstanding balance on the Believe Card, cannot be utilized by you for any purpose. You will not earn interest on the funds in the Vault Account. After the billing cycle ends, your Statement Balance on your Believe Card can be automatically paid from the Vault Account by selecting the Safe Credit Builder option at enrollment, or by enabling automatic payments at any time thereafter. You can move funds between your Varo accounts by depositing additional funds in your Vault or by withdrawing, up to your Available Balance, funds from your Vault. If, at the end of a billing cycle, you choose to pay your Believe Card’s Statement Balance by a means permitted under the Believe Agreement other than by using funds in your Vault Account, the Available Balance in your Vault will be increased by the amount of your payment.
Sample 1

Related to Vault Account

  • Payment Account (a) On or prior to the Closing Date, the Property Trustee shall establish the Payment Account. The Property Trustee and any agent of the Property Trustee shall have exclusive control and sole right of withdrawal with respect to the Payment Account for the purpose of making deposits in and withdrawals from the Payment Account in accordance with this Trust Agreement. All monies and other property deposited or held from time to time in the Payment Account shall be held by the Property Trustee in the Payment Account for the exclusive benefit of the Securityholders and for distribution as herein provided, including (and subject to) any priority of payments provided for herein.

  • Reserve Account (a) On the Closing Date, the Seller shall deposit the Specified Reserve Balance into the Reserve Account. Amounts held from time to time in the Reserve Account shall be held by the Trust Collateral Agent for the benefit of the Noteholders.

  • Trust Account; Distributions On or before the issuance of the Certificates, Xxxxxx Xxx shall either (i) open with an Eligible Depository one or more trust accounts in the name of the Trustee of the Trust Fund that shall collectively be the “Trust Account”, (ii) in lieu of maintaining any such account or accounts, maintain the Trust Account by means of appropriate entries on its books and records designating all amounts credited thereto in respect of the Lower Tier Regular Classes and all investments of any such amounts as being held by it in its capacity as Trustee for the benefit of the Holders of the Trust Fund Certificates or

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

  • Client Account 4.1 In order to facilitate trading in CFDs, the Company will open a Client Account for the Client, which will be activated upon the Client depositing the minimum initial deposit as determined by the Company in its discretion from time to time. The minimum initial deposit may vary according to the account type of the Client Account. This information is made available on our Website.

  • 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.

  • Settlement Account 4.1 The Scheduling Coordinator shall maintain at all times an account with a bank capable of Fed-Wire transfer to which credits or debits shall be made in accordance with the billing and Settlement provisions of Section 11 of the CAISO Tariff. Such account shall be the account as notified by the Scheduling Coordinator to the CAISO from time to time by giving at least 20 days written notice before the new account becomes operational, together with all information necessary for the CAISO's processing of a change in that account.

  • 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.

  • Operating Account To the extent funds are not required to be placed in a lockbox pursuant to any Loan Documents, Property Manager shall deposit all rents and other funds collected from the operation of the Property in a reputable bank or financial institution in a special trust or depository account or accounts for the Property maintained by Property Manager for the benefit of the Company (such accounts, together with any interest earned thereon, shall collectively be referred to herein as the “Operating Account”). Property Manager shall maintain books and records of the funds deposited in and withdrawals from the Operating Account. With funds from Company, Property Manager shall maintain the Operating Account so that an amount at least as great as the budgeted expenses for such month is in the Operating Account as of the first of each month. From the Operating Account, Property Manager shall pay the operating expenses of the Property and any other payments relative to the Property as required by this Agreement. If more than one account is necessary to operate the Property, each account shall have a unique name, except to the extent any Lender requires sub-accounts within any account. Within three (3) months after receipt by Property Manager, all rents and other funds collected in the Operating Account, after payment of all operating expenses, debt service and such amounts as may be determined by the Property Manager to be retained for reserves or improvements, shall be paid to the Company.

  • Trust Accounts (a) On or prior to the Closing Date, the Issuer shall cause the Servicer to establish and maintain, in the name of the Indenture Trustee, for the benefit of the Noteholders and, to the extent set forth herein, the Certificateholder, the Collection Account as provided in Section 5.01 of the Sale and Servicing Agreement.

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