Blocked Funds definition

Blocked Funds means funds owned by residents of other Member countries in accordance with the laws and regulations of the Member where the funds are held and blocked for balance-of-payments reasons;
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Blocked Funds has the meaning set forth in Section 7.4.
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Blocked Funds means a liability of the Republic of Zimbabwe provided for in terms of section 49 of this Part as read with the Annexes to this Act;
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Examples of Blocked Funds in a sentence

  • Such deposit shall fully satisfy the Company's obligations to Licensor with respect to such Blocked Funds and Licensor's share thereof, and any taxes, expenses or other charges incurred in connection with the making of such deposit shall be deducted from Licensor's share of such Blocked Funds, or otherwise charged to or paid by Licensor in advance, if required to make such deposit.

  • However, upon the Company's receipt of written notice from Licensor that the Licensor desires a settlement of its share of a particular item of Blocked Funds, the Company shall deposit the Licensor's share of such Blocked Funds (i.e., the License Fees) in a bank account in the applicable country, in the Licensor's name, subject to all applicable laws and regulations.

  • Monies actually received by the Company outside the U.S. in any currency and not freely remittable to the Company in the U.S. in U.S. dollars shall be considered "Blocked Funds", and shall not be included in Net Revenues.

  • The other party shall advise the Royalty Paying Party in writing of the legal means by which the Blocked Funds should be disposed in that country, including, without limitation, the deposit of Blocked Funds in a bank or similar institution in that country or the payment of the Blocked Funds to a person or persons in that country.

  • The Account Bank shall deliver the Blocked Funds, if any, covered by such agreement or Final Judgment within five (5) Business Days after the Account Bank has received a copy of such agreement or Final Judgment.

  • Sums derived outside the United States which are not remittable to Disney in the United States in U.S. dollars by reason of currency or other government restrictions shall be deemed "Blocked Funds" for purposes of this Agreement.

  • The Account Bank shall be deemed to have no notice of, or duties with respect to, any agreement or agreements with respect to the Blocked Accounts or the Blocked Funds other than this Agreement or except as otherwise provided herein.

  • In connection therewith, the Account Bank hereby expressly waives any and all right to (i) use any of the Blocked Funds as collateral for, or to otherwise secure, any claims of the Account Bank against any of the other Parties and their respective affiliates or (ii) set-off any debts due to it by or from any of the other Parties and their respective affiliates by using the Blocked Funds.

  • However, upon the Company’s receipt of written notice from Licensor that the Licensor desires a settlement of its share of a particular item of Blocked Funds, the Company shall deposit the Licensor’s share of such Blocked Funds (i.e., the License Fees) in a bank account in the applicable country, in the Licensor’s name, subject to all applicable laws and regulations.

  • In the event that the Account Bank shall be uncertain as to its duties or rights hereunder or shall receive instructions from any other of the parties hereto with respect to any or all of the Blocked Funds, the Account Bank shall subject to Section 1.7 be entitled to refrain from taking any action until it shall be directed otherwise in writing by each of the other Parties or by an order of a court of competent jurisdiction.


More Definitions of Blocked Funds

Blocked Funds. If any Law prohibits remittance of any amounts to Licensor then Distributor will immediately give Licensor Notice of such Law. Distributor will then deposit such amounts in Licensor's name for Licensor's unencumbered use in a suitable depository designated by Licensor without any deductions for so doing.
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Related to Blocked Funds

  • Blocked Person is any Person: (a) listed in the annex to, or is otherwise subject to the provisions of, Executive Order No. 13224, (b) a Person owned or controlled by, or acting for or on behalf of, any Person that is listed in the annex to, or is otherwise subject to the provisions of, Executive Order No. 13224, (c) a Person with which any Lender is prohibited from dealing or otherwise engaging in any transaction by any Anti-Terrorism Law, (d) a Person that commits, threatens or conspires to commit or supports “terrorism” as defined in Executive Order No. 13224, or (e) a Person that is named a “specially designated national” or “blocked person” on the most current list published by OFAC or other similar list.

  • Regulated Funds means the Existing Regulated Fund, the Future Regulated Funds and the BDC Downstream Funds.

  • Segregated funds means the amount of benefits that would

  • Blocked Account Agreements has the meaning set forth in Section 2.22(c).

  • Cleared Funds means the proceeds of cheque deposits to your account, once the cheque is cleared, cash deposits and direct credits.

  • Collected Funds means, with respect to any Collection Period, the amount of funds in the Collection Account representing collections on the Receivables during such Collection Period, including all Net Liquidation Proceeds collected during such Collection Period (but excluding any Purchase Amounts).

  • Blocked Accounts shall have the meaning set forth in Section 6.3 hereof.

  • Pledged Funds means all of the Series Pledged Funds.

  • Blocked Account Agreement means an agreement among the Borrower, the Agent and a Clearing Bank, in form and substance reasonably satisfactory to the Agent, concerning the collection of payments which represent the proceeds of Accounts or of any other Collateral.

  • Blocked Account has the meaning provided in Section 6.13(a)(ii).

  • Specially Designated Nationals and Blocked Persons list maintained by the Office of Foreign Assets Control of the United States Department of the Treasury found at: xxxxx://xxx.xxxxxxxx.xxx/ofac/downloads/sdnlist.pdf;

  • Deposit Account Agreement means the Deposit Account Agreement and Disclosure, as may be amended from time to time, issued by the Custodian and available on the Custodian’s internet customer portal, “xx.xxxxxxxxxxx.xxx”.

  • Related Funds means with respect to any Lender that is an Approved Fund, any other Approved Fund that is managed by the same investment advisor as such Lender or by an Affiliate of such investment advisor.

  • Blocked Account Bank means each bank with whom deposit accounts are maintained in which any funds of any of the Loan Parties from one or more DDAs are concentrated and with whom a Blocked Account Agreement has been, or is required to be, executed in accordance with the terms hereof.

  • Controlled Deposit Account means a Deposit Account (i) that is subject to a Deposit Account Control Agreement or (ii) as to which the Collateral Agent is the Depositary Bank’s “customer” (as defined in UCC Section 4-104).

  • Stayed Funds If the Master Servicer is the subject of a proceeding under the federal Bankruptcy Code and the making of a Remittance (as defined in Section 7.02(b)) is prohibited by Section 362 of the federal Bankruptcy Code, funds that are in the custody of the Master Servicer, a trustee in bankruptcy or a federal bankruptcy court and should have been the subject of such Remittance absent such prohibition.

  • Spread Account Agreement means the Spread Account Agreement dated as of December 1, 1994, as amended and restated as of May 11, 1998 among the Insurer, the Seller and the Collateral Agent, as the same may be modified, supplemented or otherwise amended in accordance with the terms thereof.

  • Deposit Account Bank means a financial institution selected or approved by the Administrative Agent and with respect to which a Grantor has delivered to the Administrative Agent an executed Deposit Account Control Agreement.

  • Cash Management Account has the meaning set forth in Section 2.7(a).

  • Blocked Account Banks means the banks with whom the Borrowers have entered into Blocked Account Agreements.

  • Collateral Account Agreement means the Collateral Account Agreement executed and delivered by Company and Administrative Agent on the Closing Date, substantially in the form of EXHIBIT XXIII annexed hereto, as such Collateral Account Agreement may hereafter be amended, supplemented or otherwise modified from time to time.

  • Affiliated Funds are any fund of Xxxx Xxxxxxx Trust (“JHVIT”), Xxxx Xxxxxxx Funds II (“JHF II”) or Xxxx Xxxxxxx Funds III (“JHF III”), excluding the following funds of JHVIT: the Money Market Trust B, 500 Index Trust B, International Equity Index Trust B and Total Bond Market Trust B.

  • Disqualified Institutions means those Persons (the list of all such Persons, the “Disqualified Institutions List”) that are (i) identified in writing by the Borrower to the Administrative Agent prior to the initial allocation of the Loans to be funded on the Closing Date, (ii) competitors of the Borrower and its Subsidiaries (other than bona fide fixed income investors or debt funds) that are identified in writing by the Borrower from time to time or (iii) Affiliates of such Persons set forth in clauses (i) and (ii) above (in the case of Affiliates of such Persons set forth in clause (ii) above, other than bona fide fixed income investors or debt funds) that are either (a) identified in writing by the Borrower from time to time or (b) clearly identifiable on the basis of such Affiliate’s name; provided, that, to the extent Persons are identified as Disqualified Institutions in writing by the Borrower to the Administrative Agent after the Closing Date pursuant to clauses (ii) or (iii)(a), the inclusion of such Persons as Disqualified Institutions shall not retroactively apply to prior assignments or participations in respect of any Loan under this Agreement. Until the disclosure of the identity of a Disqualified Institution to the Lenders generally by the Administrative Agent in writing, such Person shall not constitute a Disqualified Institution for purposes of a sale of a participation in a Loan (as opposed to an assignment of a Loan) by a Lender; provided, that no disclosure of the Disqualified Institutions List (or the identity of any Person that constitutes a Disqualified Institution), in part or in full, to the Lenders shall be made by the Administrative Agent without the prior written consent of the Borrower. Notwithstanding the foregoing, the Borrower, by written notice to the Administrative Agent, may from time to time in its sole discretion remove any entity from the Disqualified Institutions List (or otherwise modify such list to exclude any particular entity), and such entity removed or excluded from the Disqualified Institutions List shall no longer be a Disqualified Institution for any purpose under this Agreement or any other Loan Document.

  • Cash Management Accounts means the bank accounts of each Loan Party maintained at one or more Cash Management Banks listed on Schedule 8.01.

  • Controlled Account Agreement has the meaning specified therefor in the Security Agreement.