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

  • This is why RPA solutions and the satisfaction of their end users in the finance and accounting industry (knowledge workers) will be the main focus of this paper.There has recently been a lot of "hype" surrounding RPA solutions, which is due in part to the impressive results of numerous public and private sector enterprises (Dilmegani, 2019).

  • 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.

  • 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.

  • Appendix B, Clearing Bank Account Deposit Item Count and Total Deposit Dollars: please provide a description of the deposits included in the column on the right side of the page (beginning with Jun-18, 60 deposits, $342,605.16 Amount of Deposits).

  • 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.

  • A Clearing House Member is obligated to grant to the Clearing Bank a power of attorney to submit instructions of transfer of monies from the Clearing Bank Account to the Technical Bank Account in a given Clearing Bank in the amount specified by the Clearing House in the Payments Confirmation Report.

  • In the event any payments are reserved by the Clearing House, the value of the transfer between the Technical Bank Account and the Clearing Bank Account in the Payments Confirmation Report sent by the Clearing House to the Clearing Bank pursuant to § 53 sec.

  • The Bid Bond is refunded to the Bidder to the Member’s Clearing Bank Account in the Clearing Bank.

  • The Clearing House Member’s account, which is credited or debited under Transaction clearing is the Clearing Bank Account, subject to § 21 sec.

  • A Clearing House Member is obligated to grant to the Clearing Bank a power of attorney to submit instructions of transfer of monies from the Member's Clearing Bank Account to the Technical Bank Account in a given Clearing Bank in the amount specified by the Clearing House in the Clearing Report.

Related to Clearing Bank Account

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

  • Clearing Account has the meaning set forth in Section 2.7.1 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 agreement relating to clearing account services by and among Mortgage Borrower, Lender and Clearing Account Bank, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time, relating to the operation and maintenance of, and application of funds 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 and with respect to which a Grantor has delivered to the Administrative Agent an executed Deposit Account Control Agreement.

  • 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 means a demand, time, savings, passbook or like account with a bank, savings and loan association, credit union or like organization, other than an account evidenced by a negotiable certificate of deposit.

  • 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 maintained by any Loan Party that is the subject of an effective Deposit Account Control Agreement. “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.