COLLECTION OF INCOME definition

COLLECTION OF INCOME. VNB is authorized: (a) to receive income on any Securities and other Property in the Account (such as interest and dividends); (b) to hold the income in the Account; and (c) to pay to the Company ☐ all of the income or ☐ $__________ on the ______ day of each ☐ month ☐ quarter beginning on __________ , 20 ______. The income will be ☒ credited to the Company’s Valley National Bank checking or other trust department account bearing #__________ , ☐ mailed to the Company by check at the following address: or ☐ accumulate awaiting the Company’s instructions. VNB will use its best efforts to collect all dividends, interest and other income to which the Company is entitled and to surrender and deliver Securities and other Property at maturity or when called for payment but VNB shall assume no liability for failing to do so and shall not be obligated to commence or join in any legal proceedings to collect same.
Sample 1
COLLECTION OF INCOME. Trade Settlement: Crediting of Accounts. The Custodian shall collect income payable with respect to Securities owned by the Trust, settle Securities trades for the account of the Trust and credit and debit the Trust's account with the Custodian in connection therewith as follows: (a) Upon receipt of Proper Instructions, the Custodian shalleffect the purchase of a Security by charging the account of the Trust on the contractual settlement date. The Custodian shall have no liability of any kind to any person, including the Trust, if the Custodian effects payment on behalf of the Trust as provided for herein or in Proper Instructions, and the seller or selling broker fails to deliver the Securities purchased. (b) Upon receipt of Proper Instructions, the Custodian shall effect the sale of a Security by delivering a certificate or other indicia of ownership, and shallcredit the account of the Trust with the proceeds of such sale on the contractual settlement date. The Custodian shall have no liability of any kind to any person, including the Trust, if the Custodian delivers such a certificate(s) or other indicia of ownership as provided for herein or in Proper Instructions, and the purchaser or purchasing broker fails to effect payment to the Trust within a reasonable time period, as determined by the Custodian in its sole discretion. In such event, the Custodian shall be entitled to reimbursement of the amount so credited to the account of the Trust in connection with such sale. (c) The Trust is responsible for ensuring that the Custodian receives timely and accurate Proper Instructions to enable the Custodian to effect settlement of any purchase or sale. If the Custodian does not receive such instructions within the required time period, the Custodian shall have no liability of any kind to any person, including the Trust, for failing to effect settlement on the contractual settlement date. However, the Custodian shall use its best reasonable efforts to effect settlement as soon as possible after receipt of Proper Instructions. (d) The Custodian shall credit the account of the Trust with interest income payable on interest bearing Securities on payable date. Interest income on cash balances will be credited monthly to the account of the Trust on the first Business Day (on which the Custodian is open for business) following the end of each month. Dividends and other amounts payable with respect to Domestic Securities and Foreign Securities shall be credited to ...
Sample 1
COLLECTION OF INCOME. VNB is authorized: (a) to receive income on any Securities and other Property in the Account (such as interest and dividends); (b) to hold the income in the Account; and (c) to pay to the Company ☐ all of the income or ☐ $ on the day of each ☐ month ☐ quarter beginning on , 20 . The income will be ☒ credited to the Company’s Valley National Bank checking or other trust department account bearing # , ☐ mailed to the Company by check at the following address: or ☐ accumulate awaiting the Company’s instructions. VNB will use its best efforts to collect all dividends, interest and other income to which the Company is entitled and to surrender and deliver Securities and other Property at maturity or when called for payment but VNB shall assume no liability for failing to do so and shall not be obligated to commence or join in any legal proceedings to collect same.
Sample 1

Examples of COLLECTION OF INCOME in a sentence

  • PART 31—EMPLOYMENT TAXES AND COLLECTION OF INCOME TAX AT SOURCE Par.

  • Amendment of assessments CHAPTER VII PAYMENT AND COLLECTION OF INCOME TAX 43.

  • Paragraphs (b) and (d) of this section apply to quarters beginning after the date of publication of the Treasury decision adopting these rules as final regulations in the Federal Register.PART 31--EMPLOYMENT TAXES AND COLLECTION OF INCOME TAX AT THE SOURCE Par.

  • A five- points calibration line (0, 0.36, 0.73, 1.46 and 2.18 nM standard additions) and blank determination were made daily.

  • Proposed Amendments to the RegulationsAccordingly, 26 CFR parts 31 and 301 are proposed to be amended as follows:PART 31--EMPLOYMENT TAXES AND COLLECTION OF INCOME TAX AT THE SOURCE Paragraph 1.

  • The rules in this section apply to returns for calendar years beginning after December 31, 2010.PART 31--EMPLOYMENT TAXES AND COLLECTION OF INCOME TAX AT SOURCE Par.

  • The text of these proposed regulations is the same as the text of§ 1.6050S–1T published elsewhere in this issue of the Federal Register].§ 1.6050S–2 Information reporting for payments of interest on qualified education loans.[The text of these proposed regulations is the same as the text of§ 1.6050S–2T published elsewhere in this issue of the Federal Register].PART 31—EMPLOYMENT TAXES AND COLLECTION OF INCOME TAX AT SOURCEPar.

  • Section 25.6011–4T is removed.PART 31—EMPLOYMENT TAXES AND COLLECTION OF INCOME TAX AT THE SOURCEPar.

  • This section applies to transactions entered into on or after January 1, 2003.PART 31--EMPLOYMENT TAXES AND COLLECTION OF INCOME TAX AT THE SOURCE Par.

  • However, other personnel from the IRS and the Treasury Depart- ment participated in the development of the regulations.* * * * * Proposed Amendments to the RegulationsAccordingly, 26 CFR parts 31 and 301 are proposed to be amended as follows:PART 31—EMPLOYMENT TAXES AND COLLECTION OF INCOME TAX AT THE SOURCEParagraph 1.

Related to COLLECTION OF INCOME

  • Certification of Incorporation means the restated certificate of incorporation of the Corporation, as it may be amended from time to time, and shall include this Certificate of Designations.

  • Source of income means an employer or successor employer, a labor organization, or another individual or entity that owes or will owe income to the payer.

  • Costs of Collection Includes, without limitation, all reasonable attorneys’ fees and reasonable out-of-pocket expenses incurred by any Agent’s attorneys, and all reasonable out-of-pocket costs incurred by any Agent in the administration of the Liabilities and/or the Loan Documents, including, without limitation, reasonable costs and expenses associated with travel on behalf of any Agent, where such costs and expenses are directly or indirectly related to or in respect of any Agent’s: administration and management of the Liabilities; negotiation, documentation, and amendment of any Loan Document; or efforts to preserve, protect, collect, or enforce the Collateral, the Liabilities, and/or the Agents’ Rights and Remedies and/or any of the rights and remedies of any Agent against or in respect of any guarantor or other person liable in respect of the Liabilities (whether or not suit is instituted in connection with such efforts). “Costs of Collection” also includes the reasonable fees and expenses of Lenders’ Special Counsel. The Costs of Collection are Liabilities, and at the Administrative Agent’s option may bear interest at the then effective Base Margin Rate.

  • Consolidated Depreciation and Amortization Charges means, for any period, the aggregate of all depreciation and amortization charges for fixed assets, leasehold improvements and general intangibles (specifically including goodwill) of Borrower for such period, as determined on a Consolidated basis and in accordance with GAAP.

  • Termination of irradiation means the stopping of irradiation in a fashion which will not permit continuance of irradiation without the resetting of operating conditions at the control panel.

  • Cumulative Consolidated Net Income means, for any period, Consolidated Net Income for such period, taken as a single accounting period. Cumulative Consolidated Net Income may be a positive or negative amount.

  • Debt Service Charges means for any Measurement Period, the sum of (a) Consolidated Interest Charges paid or required to be paid for such Measurement Period, plus (b) principal payments made or required to be made on account of Indebtedness (excluding the Obligations and any Synthetic Lease Obligations but including, without limitation, Capital Lease Obligations) for such Measurement Period, in each case determined on a Consolidated basis in accordance with GAAP.

  • Borrowers on a Consolidated Basis means the consolidation in accordance with GAAP of the accounts or other items of the Borrowers and their respective Subsidiaries.

  • Collection Accounts As defined in Section 3.10(a).

  • Depreciation and Amortization means the depreciation and amortization accruing during any period of determination with respect to a Person, as determined in accordance with GAAP.

  • Consolidated Asset Coverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Assets to (b) the sum of the aggregate amount of Revolving Borrowings and Term Loans then outstanding.

  • Consolidated Income Available for Fixed Charges means, with respect to any period, Consolidated Net Income for such period plus all amounts deducted in the computation thereof on account of (a) Fixed Charges and (b) taxes imposed on or measured by income or excess profits.

  • Consolidated Cash Flow Available for Fixed Charges means, with respect to any Person for any period:

  • Consolidated Depreciation and Amortization Expense means, with respect to any Person for any period, the total amount of depreciation and amortization expense, including the amortization of deferred financing fees or costs, capitalized expenditures, customer acquisition costs and incentive payments, conversion costs and contract acquisition costs, the amortization of original issue discount resulting from the issuance of Indebtedness at less than par and amortization of favorable or unfavorable lease assets or liabilities, of such Person and its Restricted Subsidiaries for such period on a consolidated basis and otherwise determined in accordance with GAAP.

  • Taxable income means, in the case of an individual, federal adjusted gross income determined without regard to 26 U.S.C. § 168(k) and:

  • Consolidated Maintenance Capital Expenditures means, for any period, the aggregate amount of expenditures for additions to property, plant, and equipment that are not Consolidated Expansion Capital Expenditures.

  • Consolidated Income Available for Debt Service for any period means Earnings from Operations of the Company and its Subsidiaries plus amounts which have been deducted, and minus amounts which have been added, for the following (without duplication): (i) interest on Debt of the Company and its Subsidiaries, (ii) provision for taxes of the Company and its Subsidiaries based on income, (iii) amortization of debt discount and deferred financing costs, (iv) provisions for gains and losses on properties and property depreciation and amortization, (v) the effect of any noncash charge resulting from a change in accounting principles in determining Earnings from Operations for such period and (vi) amortization of deferred charges.

  • Available Income means the Up-MACRO Available Income or the Down-MACRO Available Income, as applicable.

  • Net earnings available for fixed charges means net income after deducting operating and maintenance expenses, taxes other than federal and state income taxes, depreciation, and depletion, but excluding extraordinary expenses appearing in the regular financial statements of the system.

  • Collection Costs means an amount that the Municipality can charge with regard to the enforcement of a consumer’s monetary obligations;

  • Net Liquidation Proceeds After Debt Service means, with respect to any Liquidation Event, all amounts paid to or received by or on behalf of Borrower, Senior Mezzanine Borrower or Mortgage Borrower in connection with such Liquidation Event, including, without limitation, proceeds of any sale, refinancing or other disposition or liquidation, less (a) Lender’s, Senior Mezzanine Lender’s and/or Mortgage Lender’s reasonable costs incurred in connection with the recovery thereof, (b) amounts required or permitted to be deducted therefrom and amounts paid pursuant to the Mortgage Loan Documents and Senior Mezzanine Loan Documents to Mortgage Lender and/or Senior Mezzanine Lender (as applicable), (c) in the case of a foreclosure sale, disposition or Transfer of any Individual Property in connection with realization thereon following a Mortgage Loan Event of Default, such reasonable and customary costs and expenses of sale or other disposition (including attorneys’ fees and brokerage commissions), (d) in the case of a foreclosure sale, disposition or Transfer of any Senior Mezzanine Collateral in connection with realization thereon following a Senior Mezzanine Loan Default under any Senior Mezzanine Loan Documents, such reasonable and customary costs and expenses of sale or other disposition (including attorneys’ fees and brokerage commissions), (e) in the case of a foreclosure sale, such costs and expenses incurred by Mortgage Lender under the Mortgage Loan Documents as Mortgage Lender shall be entitled to receive reimbursement for under the terms of the Mortgage Loan Documents, (f) in the case of a foreclosure sale, such costs and expenses incurred by Senior Mezzanine Lender under the Senior Mezzanine Loan Documents as Senior Mezzanine Lender shall be entitled to receive reimbursement for under the terms of the Senior Mezzanine Loan Documents, (g) in the case of a refinancing of the Mortgage Loan and/ Senior Mezzanine Loan, such costs and expenses (including attorneys’ fees) of such refinancing as shall be reasonably approved by Lender, Mortgage Lender and/or Senior Mezzanine Lender, and (h) the amount of any prepayments required pursuant to the Mortgage Loan Documents, Senior Mezzanine Loan Documents and/or the Loan Documents, in connection with any such Liquidation Event.

  • Consolidated federal taxable income means the consolidated taxable income of an affiliated group of corporations, as computed for the purposes of filing a consolidated federal income tax return, before consideration of net operating losses or special deductions. "Consolidated federal taxable income" does not include income or loss of an incumbent local exchange carrier that is excluded from the affiliated group under division (A)(1) of this section.

  • Consolidated Interest Coverage Ratio means, as of any date of determination, the ratio of (a) Consolidated EBITDA for the period of the four prior fiscal quarters ending on such date to (b) Consolidated Interest Charges for such period.

  • Distributable Income means, for any period, the net income of Centurion Apartment REIT, including income earned from its proportionate interest under the Rollover Agreement and its applicable consolidated Subsidiaries for such period set out in its consolidated financial statements as determined in accordance with GAAP, subject to certain adjustments, including: (a) adding back the following items: depreciation, amortization (except for amortization of deferred financing costs, future income tax expense, losses on dispositions of assets and amortization of any net discount on long-term debt assumed from vendors of properties at rates of interest less than fair value); and (b) deducting the following items: future income tax credits, interest on convertible debentures to the extent not already deducted in computing net income, gains on dispositions of assets and amortization of any net premium on long- term debt assumed from vendors of properties at rates of interest greater than fair value and any other adjustments determined by the Trustees in their discretion.

  • Interest Coverage Ratio means, for any period, the ratio of (a) Consolidated EBITDA for such period to (b) Consolidated Interest Expense for such period.

  • Collection site means the location of waste containers on collection day.