Examples of Cash Sweep Account in a sentence
Folio is not a bank and securities and other assets, unless expressly covered by the Insured Deposit Cash Sweep Account program terms and conditions, held in your Folio Account are not a deposit or other obligation issued or guaranteed by any bank nor are they insured by the Federal Deposit Insurance Corporation.
EXHIBIT 2 – Check and Transfer Money Terms and Conditions These Check and Transfer Money Terms and Conditions form an addendum (“Addendum”) to, and are incorporated in, your Folio Customer Agreement, including the pre-dispute arbitration clause in the Folio Customer Agreement, Insured Deposit Cash Sweep Account program terms and conditions and any other agreements (together, the “Agreement”) you may have with Folio Investments, Inc.
The Issuer and the Buyer shall procure that any (a) FAST Bar Proceeds received are immediately transferred directly to the Cash Sweep Account held by Func Food Finland and (b) Equity Capital Raising Proceeds received are immediately transferred directly to the Cash Sweep Account held by the Issuer, in each case for the purpose of using them in accordance with Clause 11.5 (Mandatory Prepayments).
The Agent shall, following receipt of the irrevocable payment instruction, transfer funds from the relevant Cash Sweep Account, in accordance with paragraphs (a) or (b) above, to the Issuer's account with the CSD for immediate repayment or prepayment of the Bonds in accordance with paragraphs (a) or (b) above.
If left unchecked, only an FDIC Insured Cash Sweep Account will be opened.