Clearing Bank Account definition

Clearing Bank Account means a bank account opened for a Clearing House in Settlement Organization, which is intended to keep records of cash that may be used for the purposes of settling (secured) liabilities eligible for clearing or liabilities to pay fees to the Clearing House or other institutions under the Clearing Law.
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Examples of Clearing Bank Account in a sentence

  • Lender assumes no responsibility for the Clearing Bank Account or its maintenance or operation, including, without limitation, any claim of accord and satisfaction or release with respect to deposits made by the Clearing Bank thereto.

  • During the entire Operating Term, subject to and in compliance with the Cash Management Agreement, Manager shall promptly deposit during each Business Day all Gross Operating Revenue (in excess of the Xxxxx Cash Amount (as defined in the Indenture) retained at the Hotel) into the Clearing Bank Account, and transfer funds in the Clearing Bank Accounts at the end of each Business Day into the Lockbox Fund.

  • Borrower shall cause all funds credited to its Clearing Bank Account to be sent by federal funds wire transfer to the Payment Account.

  • During any period other than a Cash Management Period (as defined in Section 13), the Clearing Bank shall, on a daily basis, transfer funds from time to time on deposit in the Clearing Account to the operating account of Borrower at the Clearing Bank (Account No. _____) or as Borrower may otherwise direct by written notice to the Clearing Bank.

  • The Manager shall immediately notify and advise each Person who is a tenant under any lease with respect to the Hotel, if any, whether now or hereafter in effect, to send all payments under the applicable lease, to the extent such payments constitute or will constitute Gross Operating Revenues, directly to the Manager when due for deposit in a Clearing Bank Account or the Lockbox Fund.

  • During the 2010-2019 period, there were no major fluctuations in the landings of brown crab in Ireland, the United Kingdom, and France, the traditional producing countries.

  • The Agreement shall incorporate Contractor’s fully executed State Certifications and Disclosure Forms, a copy of which is attached hereto as Appendix J.Appendix A CURRENT DEMAND DEPOSIT ACCOUNT STRUCTURE Clearing Account Child Support EFT Account Clearing Bank Account Deposit Item Count and Total Deposit Dollars Month# of Deposits$ Amt.

  • The Clearing Bank has the right to reserve execution of a payment order debiting the Clearing Bank Account of a selected Clearing House Member on the terms and in the manner specified in the Clearing Bank’s agreement with IRGiT.

  • It was eventually known as Electro Phototypy/Phototype and was marketed in England in the 1890s as Sutton‘s Process Syndicate Limited.

  • Once the claims have been approved by the trustees, the amount is transferred to Claims Clearing Bank Account.

Related to Clearing Bank Account

  • Authorized Bank Account means any Officially Designated bank account to which redemption proceeds may be sent.

  • Clearing Account means the account so designated and established by Section 5.04(1) hereof.

  • Bank Account means one or more accounts opened, maintained and operated by the Portfolio Manager with any of the Scheduled Commercial Banks in accordance with the agreement entered into with the Client.

  • Clearing Bank means the Bank or any other banking institution with whom a Payment Account has been established pursuant to a Blocked Account Agreement.

  • Designated Bank Account means the relevant bank account designated by each Holder;

  • Client Bank Account means an account held in the name of the Client with a Bank and/or other institution and/or any electronic payment provider and/or a credit card processor; and/or an account held in the name of the Company on behalf of the Client with a Bank and/or other institution and/or any electronic payment provider and/or a credit card processor.

  • Seller’s Bank Account shall have the meaning set forth in Section 3.2(b).

  • Depository Account includes any commercial, checking, savings, time, or thrift account, or an account that is evidenced by a certificate of deposit, thrift certificate, investment certificate, certificate of indebtedness, or other similar instrument maintained by a Financial Institution in the ordinary course of a banking or similar business. A Depository Account also includes an amount held by an insurance company pursuant to a guaranteed investment contract or similar agreement to pay or credit interest thereon.

  • Clearing Account Agreement means that certain Clearing Account - Deposit Account Control Agreement dated the date hereof among Borrower, Lender and Clearing Bank, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time, relating to funds deposited in the Clearing Account.

  • Designated Depository Institution A depository institution (commercial bank, federal savings bank, mutual savings bank or savings and loan association) or trust company (which may include the Trustee), the deposits of which are fully insured by the FDIC to the extent provided by law.

  • Depository Institution Any depository institution or trust company, including the Trustee, that (a) is incorporated under the laws of the United States of America or any State thereof, (b) is subject to supervision and examination by federal or state banking authorities and (c) has outstanding unsecured commercial paper or other short-term unsecured debt obligations that are rated P-1 by Moody's, F1+ by Fitch and A-1 by Standard & Poor's.

  • Depository Accounts shall have the meaning set forth in Section 4.15(h) hereof.

  • Agency Account means any deposit account opened on the books of a Subcustodian or other banking institution in accordance with Section 7.1.

  • Bank Accounts means those account(s) opened and maintained for the Trust by the Trustee at Banks, the beneficial ownerships in which shall vest in the Unit Holder(s).

  • Deposit Account Bank means a financial institution selected or approved by the Administrative Agent.

  • Control Account means a Securities Account or Commodities Account that is the subject of an effective Securities Account Control Agreement and that is maintained by any Loan Party with an Approved Securities Intermediary. “Control Account” includes all Financial Assets held in a Securities Account or a Commodities Account and all certificates and instruments, if any, representing or evidencing the Financial Assets contained therein.

  • Deposit Account is any “deposit account” as defined in the Code with such additions to such term as may hereafter be made.

  • Nominated Bank Account means MDL’s bank account as notified by MDL to the other Party from time to time.

  • Concentration Account has the meaning provided in Section 6.13(c).

  • Concentration Account Bank shall have the meaning assigned to such term in Section 9.01(e)(i).

  • Agency Account(s means any deposit account opened on the books of a Subcustodian or other banking institution in accordance with Section 7.1 hereof.

  • Depository Bank means the Institution that issues a specific Depositary Receipt on behalf of the underlying company. The Depository Bank maintains a holding of Stock in the Underlying on which it is able to issue Depositary Receipts;

  • Approved Deposit Account means a Deposit Account that is the subject of an effective Deposit Account Control Agreement and that is maintained by any Loan Party with a Deposit Account Bank. “Approved Deposit Account” includes all monies on deposit in a Deposit Account and all certificates and instruments, if any, representing or evidencing such Deposit Account.

  • Central Depository means Centrálny depozitár cenných papierov SR, a.s., with its registered seat at ul. 29. augusta 1/A, Bratislava 814 80, Slovak Republic, registered in the Commercial Register maintained by the District Court Bratislava I, Section: Sa, Insert No.: 493/B;

  • Foreign Depository means (a) Euroclear, (b) Clearstream Banking, societe anonyme, (c) each Eligible Securities Depository as defined in Rule 17f-7 under the Investment Company Act of 1940, as amended, identified to the Fund from time to time, and (d) the respective successors and nominees of the foregoing.

  • Designated Deposit Account is Borrower’s deposit account, account number , maintained with Bank.