Allocation Account definition

Allocation Account has the meaning set forth in SECTION 2.7(b).

Allocation Account means the deposit accounts or other accounts designated by the Authority from time to time and controlled by the Allocation Agent, into which all payments from or on behalf of Customers are to be deposited and from which transfers of estimated Charge Collections and Remittance Shortfalls are to be made to the Collection Account and transfers of Estimated Other Payments are to be made to appropriate accounts of the Authority. Initially, the Allocation Account shall refer to the clearing account(s) that have been established by the Authority with X.X. Xxxxxx Chase Bank.

Allocation Account has the meaning set forth in Section 2.7(b).

Examples of Allocation Account in a sentence

• The Servicer shall make or cause payments to the Collection Account or the Allocation Account in accordance with Sections 3.03 and 5.11 and this Annex 2 of the Servicing Agreement.

• Except as set forth in clause (c) below, the Servicer further agrees not to make any claim to reduce its obligation to remit or cause to be remitted all Charge Collections collected by it or deposited in the Allocation Account.

• If a Remittance Shortfall exists, the Servicer shall cause the Allocation Agent to make a supplemental remittance from the Allocation Account to the Collection Account within two (2) Business Days after such calculation.

• No later than the second Business Day following receipt, the Servicer shall cause all payments by or on behalf of Customers, including all Charge Collections (from whatever source), to be deposited into the Allocation Account.

• If an Excess Remittance exists, the Servicer shall cause such Excess Remittance to be corrected as soon as practicable by (i) reducing the amount of each Daily Remittance from the Allocation Account until the balance of such Excess Remittance has been reduced to zero or (ii) causing payment of the amount of such Excess Remittance to the Servicer (for remittance to the XXXX Xxxx Trustee) from the General Subaccount or the Excess Funds Subaccount, if necessary.

More Definitions of Allocation Account

Allocation Account see Section 2.14(b).

Allocation Account means: (a) an account with the reference number set out in Item 3 of Schedule 1; or‌ (b) a Consolidated Water Allocation Account, maintained by the Company which records:‌ (c) the crediting, acquiring, debiting and withdrawal of Water Allocation; (d) the crediting, acquiring, debiting and withdrawal of Carryover Units;‌ (e) the usage of Delivery Entitlements for ordering Water Allocation; and (f) Internal Annual Transfers of Delivery Entitlements;‌

Allocation Account means the administrative allocation account for the program, as described in Section 17;

Allocation Account means a subaccount of the Trust Fund which contains (a) Financed Shares from Acquisition Loan Two Suspense Account which are released from the Suspense Account pending allocation to the accounts of Participants and Beneficiaries; (b) Contributions other than those used to pay an Acquisition Loan; and (c) Shares of Company Stock purchased with the Company Contributions described in (b) above, pending allocation to the accounts of Participants. A separate Allocation Account shall be established for each Acquisition Loan and related Suspense Account.

Allocation Account means the deposit accounts or other accounts designated by the Authority from time to time and controlled by the Allocation Agent, into which all payments from or on behalf of Customers are to be deposited and from which transfers of estimated Charge Collections and Remittance Shortfalls are to be made to the Collection Account and transfers of Estimated Other Payments are to be made to appropriate accounts of the Authority. Initially, the Allocation Account shall refer to the clearing account[s] that have been established by the Authority with J.P. Morgan Chase Bank.

Allocation Account means the account maintained by the underwriter in respect of member contributions, together with that portion of the Employer contributions made in terms of the rules applying to retirement benefits.

Allocation Account means the valid water allocation account nominated in the Application into which the water allocation under this Program is to be transferred.