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).
Collected Funds means all funds received by Escrow Agent which have cleared normal banking channels and are in the form of cash.
Collected Funds means (a) cash (currency); (b) wired funds when unconditionally received by the escrow agent; (c) when identified as such, (1) cashier’s check; (2) certified check; or (3) teller’s check (official check) when any of the above are unconditionally received by the escrow agent; (d) U.S. Treasury checks, postal money orders, federal reserve bank checks, federal home loan bank checks, State of Idaho and local government checks, local or Idaho on-us checks, or local third party checks on the next business day after deposit; (e) local personal or corporate checks on the second business day after deposit; and (f) non-local State and government checks, non-local on-us checks, non-local personal or corporate checks or non-local third party checks on the fifth business day after deposit. For purposes of this section a deposit is considered made on (1) the same day the item is delivered in person to an employee of a federally insured financial institution, or (2) the first business day following an after business hours deposit of an item to a federally insured financial institution. (7-1-93)
Examples of Collected Funds in a sentence
Collected Funds received after the last day of the Collection Period preceding the Distribution Date on which such optional purchase occurs shall be property, and for the account, of the Servicer and the Seller, and distributed by the Indenture Trustee to the Servicer or the Seller, as applicable, or may be applied by the Servicer or the Seller, at their option, to the payment of the Optional Purchase Amount.
More Definitions of Collected Funds
Collected Funds. With respect to any Determination Date, the amount of funds in the Collection Account representing collections on the Receivables during the related Monthly Period, including all Liquidation Proceeds collected during the related Monthly Period (but excluding any Monthly Advances and any Purchase Amounts).
Collected Funds means funds which are immediately available to the Secured Parties, as the Lessor's assignees, for its use in New York, New York.
Collected Funds means any items, other than cash, accepted for deposit (including items drawn “on us”) will be given provisional credit until collection from the bank the item has been drawn on has been received by Bank of deposit. Bank shall have no liability to Company should the amount to be transferred exceed the Available Collected Funds.
Collected Funds means the positive balance, if any, of the Sweep Account, after settlement at the close of each Business Day. Cash Sweep If Customer has elected to receive the Cash Sweep Service, each Business Day, after all transactions have been posted to Customer’s Sweep Account, Bank shall transfer Collected Funds in excess of the Target Balance, to Customer’s Deposit Account. If at the end of the Business Day, the balance in Customer’s Sweep Account is less than the Target Balance, Customer authorizes Bank to transfer funds from Customer’s Deposit Account to Customer’s Sweep Account in amount necessary to meet the Target Balance in the Sweep Account. Customer may not directly make deposits to or withdrawals from its Deposit Account. Customer may make withdrawals from Customer’s Sweep Account, in accordance with the Account Terms. Bank shall provide monthly account statements to Customer for both Customer’s Sweep Account and Customer’s Deposit Account. Loan Sweep
Collected Funds means all funds received by the Escrow Agent that have cleared normal banking channels and are in the form of cash or a cash equivalent. After such time the Escrow Account shall remain open and the Company shall continue to cause subscriptions for the Shares that are not to be deposited in either the Pennsylvania Escrow Account or the New York Escrow Account to be deposited therein until the Company informs the Escrow Agent in writing to close the Escrow Account, and thereafter any subscription documents and instruments of payment received by the Escrow Agent from Subscribers other than Pennsylvania Subscribers and New York Subscribers shall be forwarded directly to the Company.
Collected Funds. With respect to any Determination Date, the amount of funds in the Collection Account representing collections on the Receivables (including Liquidated Receivables and Purchased Receivables) during the related Monthly Period, including (i) all administrative fees, expenses and charges, late fees and other amounts paid by or on behalf of Obligors and (ii) all Liquidation Proceeds collected during the related Monthly Period (but excluding any Purchase Amounts).
Collected Funds means all funds received by the Impound Agent which have cleared normal banking channels and are in the form of cash, plus any interest accrued on such funds. The Minimum may be met by funds that are deposited from the effective date of the offering up to and including the date on which the contingency must be met.