Adequate cover definition

Adequate cover for a payment order means the availability of sufficient funds, namely the existence of an account balance not smaller than the amount of the payment order, consisting of the closing balance of the previous banking day, plus credit already posted to the payor’s account in the course of the current banking day for incoming payments, deposits and remittances, less outgoing payments and disbursements already occurring in the course of the current banking day, and anticipated bank charges. Funds reflecting mere provisional credit to the payor’s account do not constitute part of the required cover.
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Adequate cover means the availability of sufficient funds to process payment orders from which the payment order is executed. Funds recorded as mere provisional credit to the originator’s Account do not constitute part of the required cover;
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Examples of Adequate cover in a sentence

  • Adequate cover will always be made available during term time working hours.

  • Adequate cover shall be provided before using power compactors or heavy rollers.

  • Adequate cover is provided to ensure staff members can take their breaks.

  • Adequate cover has been taken for all movable and immovable assets for various types of risks.

  • Adequate cover to protect the pipe from crushing or frost action will be required.

  • Adequate cover must be provided to comply with Table DF6.8.3 unless exempted under (b).

  • Validation - Station Path Anomalies Pn and P rays were traced through the 3-D CUB model described to determine predicted travel times.

  • Adequate cover and food along the migratory route are essential for the long-term viability of these species.

  • Adequate cover soil shall be stockpiled near the disposal area to be used in the event of a fire or other emergency.

  • Cooperativa Yutathui, brand name El Jobo, is a dairy cooperative with a medium-term goal to export cheese and dairy products to the United States.

Related to Adequate cover

  • Adequate security means protective measures that are commensurate with the consequences and probability of loss, misuse, or unauthorized access to, or modification of information.

  • Restrictive Covenant has the meaning set forth in Section 6(c).

  • Competition or “Competitions” means any competition comprised within the Event where the winner is awarded a prize. A Competition may be comprised of one or more qualification phase/sections, runs or heats, including official training sessions. In the FIS Rules, Competitions are sometimes also referred to as “races”.

  • Restrictive Covenant Agreement means any agreement, and any attachments or schedules thereto, entered into by and between the Participant and the Partnership or its Affiliates, pursuant to which the Participant has agreed, among other things, to certain restrictions relating to non-competition (if applicable), non-solicitation and/or confidentiality, in order to protect the business of the Partnership and its Affiliates.

  • Compete means participating in an interscholastic contest or competition and includes dressing in full team uniform for the interscholastic contest or competition as well as participating in pre-game warm-up exercises with team members. “Compete” does not include any managerial, record-keeping, or other non-competitor functions performed by a student on behalf of a member or associate member school.

  • Confidentiality Undertaking means a confidentiality undertaking substantially in a recommended form of the LMA or in any other form agreed between the Borrower and the Agent.

  • Assurance means any act or action, whether written or oral, expressing an opinion or conclusion

  • Competition Laws means statutes, rules, regulations, orders, decrees, administrative and judicial doctrines, and other laws that are designed or intended to prohibit, restrict or regulate actions having the purpose or effect of monopolization, lessening of competition or restraint of trade.

  • restrictive practice means forming a cartel or arriving at any understanding or arrangement among Bidders with the objective of restricting or manipulating a full and fair competition in the Bidding Process.