Withdrawal from Accounts. Client may withdraw cash or securities from the Account upon providing verbal or written notice to Xxxxxxx Xxxxx, subject to verification. Client may submit written request to withdraw cash from the Account on a periodic basis. Withdrawals will be taken from cash balances to the extent it is available. When cash is depleted the Account will be re-balanced to the target allocation. All efforts will be made by AMS to process the withdrawal request in an efficient and timely manner. However, any such request is not considered a market order and delays may result due to factors including, but not limited to, the volume of similar requests received by AMS and open trades as of the date of the withdrawal request. Client understands that the turnaround time necessary for AMS to process Client’s withdrawal request may require several business days to complete under normal market conditions, and will generally be processed in the order in which it is received by AMS. Resulting trades, if any, will be executed at market prices. Xxxxxxx Xxxxx is not responsible for changes in market prices that occur between its receipt of a request to withdraw cash and trade execution. Client understands that any withdrawals (periodic or otherwise) requiring a liquidation of securities will affect the model asset allocation, and thereby affect the performance of the Account. Client hereby authorizes the financial advisor designated herein (or the financial advisor’s successor) to effect withdrawals from the Account pursuant to Client’s request and on Client’s behalf, except that such withdrawals may be refused if the withdrawal would reduce the Account balance below the Account minimum. If Client withdraws cash or securities from the Account prior to delivering proper notice to AMS, Xxxxxxx Xxxxx shall not be responsible, nor liable to Client, for losses to the Account that may result from the need to reverse transactions in the Account for which those assets were to be utilized but were not available. Xxxxxxx Xxxxx reserves the right to terminate the Client’s Account or this Program Agreement where the total value of cash and securities in the Account falls to a value which Xxxxxxx Xxxxx determines cannot be economically or effectively managed due to the small account size. Client understands that the Account is not intended as a short-term investment vehicle and that such withdrawals from the Account may impair the achievement of Client's stated investment objective(s).
Withdrawal from Accounts. (a) The Trustee may only make withdrawals from a Collateral Account if directed to do so by the Trust Manager, and then only for the following purposes:
(i) to make or fund a Liquidity Draw in accordance with this agreement;
(ii) to transfer the credit balance of the Existing Collateral Account to a New Collateral Account in accordance with clause 3.5;
(iii) to pay the Cash Advance Deposit to the Liquidity Provider pursuant to clause 3.8(a);
(iv) to withdraw any amount which has been incorrectly deposited into the Collateral Account;
(v) to pay financial institutions duty, bank accounts debit tax or equivalent payable in respect of the Collateral Account;
(vi) at the direction of the Trust Manager, invest in Authorised Investments which mature no later than the end of the Funding Period in which the Authorised Investments were acquired provided that all amounts received by the Trustee on that maturity must be credited to the Collateral Account; or
(vii) to refund to the Liquidity Facility Provider the amount of any of the Liquidity Limit which is cancelled under clause 7.1.
(b) The Trust Manager must only direct the Trustee to make withdrawals from the Collateral Account for the above purposes.
(c) For so long as the Collateral Account is maintained with the Liquidity Provider, the obligations of the Liquidity Provider with respect to payment to the Trustee of the debt constituted by any credit balance on the Collateral Account shall be conditional upon and subject to the terms of this clause 3.
Withdrawal from Accounts. The Bondholder may withdraw some or all of the funds in either or both of the Accounts and apply the proceeds thereof to the Secured Indebtedness. The Borrower hereby appoints the Bondholder as the Borrower's attorney-in-fact for the purpose of withdrawing funds from the Accounts in such event.
Withdrawal from Accounts. The Client may give Instructions to the Company to withdraw or transfer any moneys, Investment Products or other property in the Client’s Accounts. Where any of such Accounts is maintained with the Company, the withdrawal or transfer shall be made by the Company subject to and in accordance with the Agreement. The Company may at its absolute discretion refuse to act on the Client’s Instructions to effect any withdrawal or transfer of Securities held in the Client’s Accounts (including the CDS Accounts) in the event there is an outstanding debt or Liabilities due to the Company. Where any of such Accounts is maintained with the Company’s Affiliates, the Client acknowledges and agrees that the withdrawal or transfer shall be made by the respective Affiliate, subject to and in accordance with the terms and conditions that the Client has entered into with such Affiliate, and that the Company shall be under no obligation to procure the withdrawal or transfer of any moneys, Investment Products or other property held in the Accounts.
Withdrawal from Accounts
