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 helps ensure the pipeline operates safely and minimizes the risk to public safety.

  • 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).

  • Adequate cover is essential for a corridor to function as a wildlife movement area.

  • There are, however, significant concerns that 7-9 members may 1 Source: SFEFC 2001, In Fact Database2 Source: SQA Annual Statistical Review 1999 (the latest year available)ASSOCIATION OF SCOTTISH COLLEGES present practical difficulties for the new Board and that there may not be sufficient numbers of Board members to ensure: • Adequate cover during absences and vacancies;• Members for the full range of sub-committees required;• The necessary range of expertise to ensure effective governance.

  • Adequate cover should be arranged for any out of hours/out of term activities.

Related to Adequate cover

  • Adequate Country means a country or territory that is recognized under General Data Protection Regulation (EU) 2016/679 as providing adequate protection for Personal Data;

  • Restrictive Covenants means the restrictive covenants contained in Section 13(c) hereof.

  • 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”.

  • 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”.

  • Unfair conduct means an act or omission by a Member or its financial representative that significantly impairs, or is likely to significantly impair, the ability of a Client to make an informed transactional decision and includes –

  • fair and reasonable conditions means appropriate conditions, including possible financial terms or royalty-free conditions, taking into account the specific circumstances of the request for access, for example the actual or potential value of the results or background to which access is requested and/or the scope, duration or other characteristics of the exploitation envisaged;

  • Confidentiality means that only people who are authorised to use the data can access it.

  • Graduate Student means a student who is in attendance at an institution of higher education and is enrolled in an academic program of instruction above the baccalaureate level. The term includes any portion of a program leading to either a degree beyond the baccalaureate, or a first professional degree when at least three years of study at the pre-baccalaureate degree level are required for entrance into a program leading to such a degree. Students admitted as special/provisional graduate students may be considered as eligible students for one term only if it is anticipated they will enroll in a regular graduate program in the following term.

  • Disclosure Undertaking means the Continuing Disclosure Undertaking, dated as of the Dated Date, relating to certain obligations contained in the SEC Rule.

  • 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.

  • Competition Laws means any federal, state, foreign, multinational or supranational antitrust, competition or trade regulation statutes, rules, regulations, orders, decrees, administrative and judicial doctrines and other laws that are designed or intended to prohibit, restrict or regulate actions or transactions having the purpose or effect of monopolization or restraint of trade or lessening of competition through merger or acquisition or effectuating foreign investment.