Frozen Funds definition

Frozen Funds means all accounts frozen pursuant to Paragraphs VI and VII of the First and Second Stipulated Preliminary Injunctions, in the amount as of the date the accounts were frozen, plus any interest payable by the financial institution, without deducting any costs, fees, or interest payable to the financial institution, and any funds deposited into any frozen account pursuant to prior order of the Court.
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Examples of Frozen Funds in a sentence

  • Subject to applicable law, you may not withdraw Frozen Funds, pledge Frozen Funds or use Frozen Funds for any purpose other than repayment of Enabled Card balances.

  • If you make a payment on the Enabled Card from outside the Deposit Account (including from a Linked Deposit Account), the payment will reduce Frozen Funds and increase Unfrozen Funds dollar for dollar.

  • Further, in the event that the Partnership is terminated pursuant to clause 10.1(b) and continued pursuant to clause 10.4 and where the Arbitrator does not confirm the basis on which termination was effected under clause 10.1(b) any amounts to which the Special Limited Partner may be entitled under clause 7.1 and which have been deposited in the Frozen Funds Account shall be released from the Frozen Funds Account and applied in accordance with the terms of this Agreement.

  • The Frozen Funds are the only assets of Wellspring and Springpay.

  • You understand that, in the event of a default under the Cardholder Agreement (and only in such event), we may seek to obtain payment from Frozen Funds of amounts owed under the Enabled Card.

  • Frozen Funds will not be returned to you and Cred.ai’s rights under this Agreement (including under Section 3.b.v) will not be ended until all such amounts are paid.

  • In its absolute discretion, Cred.ai may cause the Bank to initiate a transfer of funds to the Deposit Account from the Linked Deposit Account(s) or the Linked Debit Card to eliminate any shortfall of Frozen Funds compared to the Enabled Card balance.