Closing Accounts definition

Closing Accounts has the meaning set forth in Clause 3.2.4.

Closing Accounts. When either you or the Credit Union close any accounts, certain funds may not be immediately made available to you upon closing. This is due to actions you have taken or your relationships with third parties that may result in certain holds that affect your available funds versus your actual funds. Please read this entire section for a complete explanation of these matters. These holds are generally resolved within a period of 10 (ten) days. Once all these matters are cleared so that your accounts are no longer responsible for any sums these other parties may claim, then any remaining funds shall become available funds and will be paid to you.

Closing Accounts has the meaning given to it in Schedule 6.

Examples of Closing Accounts in a sentence

• Purchaser shall pay over to Seller all collections of accounts receivable in connection with the Properties which have accrued as of Closing (the "Closing Accounts Receivable").

• By no later than sixty (60) days after Closing, Purchaser shall pay to Seller an amount equal to the remaining Closing Accounts Receivable, minus those uncollectible Closing Accounts Receivable as agreed upon by Purchaser and Seller.

• On the basis of that review, the Purchaser may during a five (5) Business Days period following the Verification Period propose to the Seller in writing (the “Notice of Objection”) such adjustments, if any, as shall in the Purchaser judgement be required to determine the Closing Accounts, Debt/WC Statements and the Price Adjustment Amount, if any, in accordance with the rules set out in this Clause 3.2. The Notice of Objection shall contain a statement of the basis of the Purchaser’s objection.

• Upon such payment to the Acquiror, the Closing Accounts Receivable which are so paid for by the Shareholders shall, without further action of any party, become the property of the Shareholders, who may pursue collection thereof; provided, however, that the Shareholders shall notify the account obligor that such collection efforts are not being undertaken on behalf of PentaStar.

• Upon such payment to PentaStar, the Closing Accounts Receivable which are so paid for by the Shareholders shall, without further action of any party, become the property of the Shareholders.

More Definitions of Closing Accounts

Closing Accounts means the consolidated balance sheet and consolidated statement of operations of the Group Companies as at the Closing Date (but prior to any capitalization, if any, by the Purchaser of the Group Companies) to be prepared in accordance with the Accounting Principles and using the format of the Sample Accounts;

Closing Accounts means the balance sheet and profit and loss accounts (together with the notes attached thereto) of the Company on a consolidated basis (including each Group Company) as of the Initial Closing Date.

Closing Accounts means a combined balance sheet of the entities included in the Autoco Contributed Entities Perimeter and a combined balance sheet for the entities included in the Finco Contributed Entities Perimeter, at the Closing Date both being prepared in accordance with the Closing Accounting Principles.

Closing Accounts means the Croatian Closing Accounts or the Slovenian Closing Accounts, as the case may be;

Closing Accounts. When either you or the Credit Union close any accounts certain funds may not be immediately made available to you upon closing. This is due to actions you have taken or your relationships with third parties that may result in certain holds that affect your available funds versus your actual funds. Please read this entire section for a complete explanation of these matters. These holds are generally resolved within a period of 10-days. Once all these matters are cleared so that your accounts are no longer responsible for any sums these other parties may claim, then any remaining funds shall become available funds and will be paid to you. 8c. Transaction Limitations for All Share Savings and Money Market/Money Management Accounts: Pursuant to Federal Regulation D, during any calendar month you may not make more than six withdrawals or transfers to another Credit Union account of yours or to a third party by means of a preauthorized, automatic, telephonic, home banking, or audio response transfer or instruction. A preauthorized transfer includes any arrangement with us to pay a third party from your account upon oral or written orders, including orders received through ACH. Any minimum withdrawal requirements are set forth in the Schedule. If payment is made directly to the depositor, you may make an unlimited number of withdrawals from these accounts in person, by mail, at an ATM, or by telephone if the withdrawal is mailed to you in a check. There is also no limit on the number of transfers you may make to any loan account(s) with us. Transfers/withdrawals in excess of the transfer/withdrawal limitations described above may be subject to a fee as set forth in the Schedule. For accounts in which activity continues to violate these limits after we notify you of activity exceeding the limits, Regulation D requires that either the account be closed or that the funds be transferred to a transaction account that the depositor is eligible to maintain.

Closing Accounts means a balance sheet of the Transferred Business, as of the close of business on the Closing Date, to be prepared in the form set forth in Appendix C and in accordance with the Accounting Principles;

Closing Accounts means the unaudited consolidated balance sheet as at, and the unaudited consolidated income statement for the period ended on, the Closing Date, of the Group Companies, prepared on the basis of the Accounting Principles and in accordance with Section 2.03.