Examples of Master Deposit Account in a sentence
The Bank will look at the end of day Ledger Balance in the Deposit Accounts to determine whether either a sweep will occur, for example, from the Master Deposit Account to a Deposit Sub-Account, or the Loan Payment Source Account to the Loan Account under this Service Description.
On a daily basis, MidCap would sweep the Master Deposit Account in order to pay the Debtors’ joint loan obligations to MidCap.
MA3-70105 NA Page 11 of 14EXHIBITD AUXILIARY DEPOSIT ACCOUNT To MASTER ESCROW AGREEMENT(NOTE: To BE COMPLETED ONLY IF DEPOSITOR ESTABLISHED A MASTER ESCROW AGREEMENT) Master Deposit Account Number: _ Auxiliary Account Number ~ Tyler Technologies, Inc.
Contractor shall be responsible for providing County with the relevant documentation and the Master Deposit Account Number, to validate the Escrow Agreement, within thirty (30) calendar days from the execution date of this Contract.
Further, Company agrees that this Automated Sweep Service allows partial draws against the Loan Account in order to make a deposit to the Master Deposit Account.
To the extent the Account Balance in any Deposit Sub-Account would fall below the Target Balance on any business day, Company hereby authorizes the Bank to automatically transfer funds from the Master Deposit Account to the Deposit Sub-Accounts, as needed, to maintain the Target Balance in each Deposit Sub-Account.
The Funds in the Master Deposit Account, Merchant Account, and certain other deposit accounts, including an account for vendor receipts, then flow into a Concentration Account.
Company authorizes the Bank to automatically advance funds from the Loan Account to maintain the Target Balance in the Master Deposit Account.
If at any time there is a ledger balance in the Master Deposit Account to transfer to some, but not all Deposit Sub-Accounts, as needed to maintain the Deposit Sub-Account Target Balances, funds will be transferred to the Deposit Sub-Accounts in the descending order from A to C, as applicable.
Control Agreement shall mean any and all agreements, whether there be one or more, among the Institution, as “Debtor,” the Depositary Bank and the Master Trustee, as “Secured Party,” pursuant to which the Institution agrees to grant the Master Trustee a security interest in one or more of the Institution’s depository accounts in order to secure the Institution’s repayment obligations under the Master Trust Documents; the initial Control Agreement being the Master Deposit Account Control Agreement.