Return of Funds means any flow of [PPR] funds, which are due to be returned by an Implementing Entity to the Trust Fund pursuant to the Financial Procedures Agreement and consistent with the pertinent [PPR] funding approved by the Governing Board.
Return of Funds means any flow of PPR funds, which are due to be returned by an Implementing Entity to the Trust Fund pursuant to the Financial Procedures Agreement and consistent with the pertinent PPR funding approved by the Governing Board.
Return of Funds. Participant may require the return of any of Participant’s funds held in trust by BMP and not yet earned by BMP at any time and from time-to-time, with such demand effective when BMP receives written notice of that decision from Participant. Such demand will not be effective for those funds already earned by BMP is such demand is received by BMP after BMP has transferred (or had the right to transfer) such funds to itself under the next paragraph. Distributions: Until earned by BMP, for any of Participant’s funds held in trust under this Agreement, Participant is the only Beneficiary. Under the Service Contract, the monthly fee is earned when the month is completed, and BMP will then be permitted to transfer the funds for that monthly fee only, out of this trust and into BMP’s own account at any time on or after the 1st day of the next month. For example, if the month in question is November, then on or after December 1st, BMP can transfer the funds from this trust into its own account to cover the monthly fee it earned for that November. If on the date of Participant’s death there are still funds remaining in the trust intended for monthly fees for months after the month in which Participant died, such additional funds shall be distributed by BMP, as trustee, to the personal representative of Participant’s estate. There will not be any income from the funds held in trust under the Agreement, as it is intended that the funds will be held in a non-interest bearing account in a bank which is insured by the FDIC, but if there was any income, it would belong to Participant, not BMP.
Examples of Return of Funds in a sentence
Return of Funds; Recoupment Subrecipient shall return any Award funds not obligated by June 30, 2024 to the County.
The Federal Return of Funds Policy and the TWS Refund Policy consist of two different calculations.
More Definitions of Return of Funds
Return of Funds. Participant may require the return of any of Participant’s funds held in trust by BMP and not yet earned by BMP at any time and from time-to-time, with such demand effective when BMP receives written notice of that decision from Participant. Such demand will not be effective for those funds already earned by BMP is such demand is received by BMP after BMP has transferred (or had the right to transfer) such funds to itself under the next paragraph.
Return of Funds. If we determine that you qualify for return of any Funds from the Collateral Account, we will return these Funds to you by a method we deem reasonable. If your Account is closed, we will return any excess Funds that remain in the Collateral Account after repayment of all Obligations. If we mail a check to you, we will mail it to your mailing address on file with us for the Credit Card Accounts. In the event of your death, we will not release Funds on deposit unless all Obligations have been repaid and all legal documents we require are delivered to us. Confidentiality: We will disclose information to third parties about your Collateral Account or any transfers you make: (a) where it is necessary for completing a transfer, or (b) in order to verify the existence and condition of your Collateral Account for a third party, or (c) in order to comply with government agency or court orders, or (d) if you give us your written permission, or (e) as permitted by the privacy notice we have provided to you.