Separate Bank Account definition

Separate Bank Account means the separate bank account maintained by the promoter in a scheduled bank to deposit 70% / 100% amount collected from the allottees to cover the cost of construction and the land cost of the real estate project as defined under sub-clause (D) of clause (l) of sub-section (2) of Section 4 of the Act;
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Separate Bank Account. The Company agrees that the application monies received in respect of Hong Kong Public Offering Applications shall be credited to a separate bank account with the Nominee pursuant to the terms of the Receiving Bank Agreement.
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Separate Bank Account means a bank account used to deposit clients’ money opened in the name of the Nominee:.
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Examples of Separate Bank Account in a sentence

  • Expenditure under the project will either be made centrally at the SPIU through Treasury System and / or through Separate Bank Account opened exclusively for this purpose.

  • Can escrow account opened with the Bank from whom loans are availed, be treated as Separate Bank Account for a Goa RERA registered project.Ans: No. A separate bank account needs to be opened in accordance with the provisions of the Act and rules made there under.

  • Expenditure under the project will either be made centrally at the PMU through Treasury System and / or through Separate Bank Account opened exclusively for this purpose.

  • When California departments or agencies develop automation projects, they often attempt to use the project justification as a means to secure newer technology.Deployment of newer technology is then funded via project budgets and is typically limited to the business area that is the subject of a single project scope.

  • Closing Balance in the Separate Bank Account of the project at the end of the reported quarter.

  • MOCL shall keep the funds/securities of the Clients in a Separate Bank Account & Depository Account.

  • A Separate Bank Account will be established within the Mississippi Bandmasters Association and administered by the Treasurer of said organization in which all finances from the Championships will be executed with the approval of the Executive Committee of the Mississippi Bandmasters Association and Executive Director of the MHSAA.

  • NOTE-2To be given as part of CA Certificate (Annexure 8) for quarterly updation(Rs. In Lakhs)Total Land Cost as per Sr. No. 1 (i) Total Expenditure / Cost incurred as per Sr. No. 3 (d) Opening Balance in the Separate Bank Account of the project at the start of the reported quarter.

  • Motion: Approve and Authorize the Supervisor to Establish a Separate Bank Account as the Depository for Funds Under the Sheridan Parkside Neighborhood Stabilization Program.

  • The Overall Coordinators are hereby irrevocably and unconditionally authorized by the Company to direct the Nominee to deduct and pay such amounts.‌ 5.5 Separate Bank Account: The Company agrees that the application monies received in respect of Hong Kong Public Offering Applications shall be credited to a separate bank account with the Nominee pursuant to the terms of the Receiving Bank Agreement.


More Definitions of Separate Bank Account

Separate Bank Account means the separate bank account wherein seventy percent of the amounts realised for the project from the allottees received in “Collection Account”, shall be deposited in a separate account to be maintained in a scheduled bank. Deposited amount in this account shall solely be utilised to cover the cost of construction and the land Cost as prescribed in the Rule 5 of the Rules;
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Separate Bank Account means a bank account into which funds are deposited and withdrawn.
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Separate Bank Account means the separate account to be maintained by the promoter in a scheduled bank as per Section 4(2)(l)(D) of RERA Act, to cover cost of construction and land cost of the project.
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Separate Bank Account means a checking or savings account that is maintained in a financial institution whose deposits are insured by the Federal Deposit Insurance Corporation.
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Related to Separate Bank Account

  • Bank Account means one or more accounts opened, maintained and operated by the Portfolio Manager with any of the Scheduled Commercial Banks in accordance with the agreement entered into with the Client.

  • Client Bank Account means an account held in the name of the Client with a Bank and/or other institution and/or any electronic payment provider and/or a credit card processor; and/or an account held in the name of the Company on behalf of the Client with a Bank and/or other institution and/or any electronic payment provider and/or a credit card processor.

  • Seller’s Bank Account shall have the meaning set forth in Section 3.2(b).

  • Designated Bank Account means the relevant bank account designated by each Holder;

  • Authorized Bank Account means any Officially Designated bank account to which redemption proceeds may be sent.

  • Bank Accounts means those account(s) opened and maintained for the Trust by the Trustee at Banks, the beneficial ownerships in which shall vest in the Unit Holder(s).

  • Nominated Bank Account means MDL’s bank account as notified by MDL to the other Party from time to time.

  • Separate Account shall have the respective meanings assigned to such terms in Section 3 of ERISA.

  • Master Account or “Judicial Council’s Master Account” shall mean the Judicial Council’s billing account to which the Contractor is authorized to charge specifically identified charges under this Agreement.

  • Checking Account means a Demand Deposit account (DDA), a Negotiable Order of Withdrawal (NOW) account, a Savings account and a Money Market account at the Bank that you open through the Bank website; "Account" includes any Checking, Certificate of Deposit, or Savings account at the Bank opened through the Website or in person; "Card" means an automated teller machine card and/or a VISA debit card that accesses your Checking, Savings, Money Market, or NOW account; "PIN" means the personal identification number you use in connection with your Card; "Password" means the password you use to access the Website and your Bank Accounts through a personal computer or other electronic terminal; "Access Device" means your Card, Password, or other device or code we make available to you to access your Accounts; "Business Day" means Monday through Friday, except federal holidays; and "Authorized User" means any person you authorize or permit to use your Card, Password or other Access Device to access your Accounts, whether that person uses the Access Device to obtain information or to conduct a transaction. This EFT Agreement is part of the Banking Documents. Other terms used in this EFT agreement may be defined elsewhere in the Banking Documents. • ATM Safety • Funds Transfers • Other Electronic Fund Transfer Services • Liability For Unauthorized Electronic Transfers • Other Electronic Fund Transfer Services Types of Transactions‌ We offer the following types of Electronic Fund Transfers (EFT) Services for your Checking Account. • Direct Deposits. You can arrange for direct deposits to your checking and savings account(s). • Preauthorized Credits/Debits. We accept, on your behalf preauthorized Credits/Debits drawn on your Deposit Accounts which allow unrestricted activity. Through our electronic bill payment service, you are able to electronically transfer funds from your Deposit Account to other parties, provided the account allows such activity. We may conduct these transactions via Automated Clearinghouse (ACH) transfer. We may also accept and direct funds by wire transfer. Each of these services has unique fees associated with the transaction. Please consult our Schedule of Fees herein. When you provide the party initiating the withdrawal or deposit with advance authorization to make recurring ACH transfers to or from your Account, the transfers are referred to as "preauthorized transfers." Because these preauthorized transfers are performed electronically through the ACH, they are governed by federal regulations pertaining to EFT Services, which entitle you to certain benefits and protections in connection with the EFT Services, such as the right to receive a copy of your written authorization to make preauthorized transfers from your Account from the party that obtains it. • ATM and Point-of-Sale Transactions. ATM Transactions. ATM Cards issued by us to you remain our property and you may be requested to return the Card to us at any time for any reason. Each card is used in conjunction with an authorizing Personal Identification Number ("PIN"). To guard against someone initiating a transaction that you have not authorized, you must take all reasonable precautions to prevent any other person from learning your PIN. If you permit or authorize another person to use your Card and PIN, you will be liable for all resulting transactions. You may use your Card at ATMs which are a part of an Electronic Funds Transfer service network to which the Bank belongs ("EFT network"). ATM withdrawals are available up to the daily authorization limits disclosed below, provided the available balance in the Deposit Account associated with your card is greater than or equal to the amount requested, plus any fees that may be charged along with the cash disbursement. • Withdraw cash from your Checking Account. • Find out your Checking Account balances. • Transfer funds between your own accounts at the Bank (if available on the ATM in use). • Withdraw cash from your Savings Account. • Make deposits to your own accounts.

  • Agency Account means any deposit account opened on the books of a Subcustodian or other banking institution in accordance with Section 7.1.

  • Separate Accounts means the accounts which are to be prepared for each

  • General Account consists of all our assets other than those held in any separate investment accounts.

  • Purchase Price Bank Account means a bank account in the United States to be designated by the Seller in a written notice to the Purchaser at least five Business Days before the Closing.

  • Concentration Account Bank shall have the meaning assigned to such term in Section 9.01(e)(i).

  • Clearing Account means the account so designated and established by Section 5.04(1) hereof.

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

  • Principal Funding Account shall have the meaning specified in subsection 4.03(a)(i).

  • Administration Account As defined in Section 7.02.

  • Depository Account includes any commercial, checking, savings, time, or thrift account, or an account that is evidenced by a certificate of deposit, thrift certificate, investment certificate, certificate of indebtedness, or other similar instrument maintained by a Financial Institution in the ordinary course of a banking or similar business. A Depository Account also includes an amount held by an insurance company pursuant to a guaranteed investment contract or similar agreement to pay or credit interest thereon.

  • Concentration Account has the meaning provided in Section 6.13(c).

  • Deposit Account Bank means a financial institution selected or approved by the Administrative Agent.

  • Current Account means a form of demand deposit wherefrom withdrawals are allowed any number of times depending upon the balance in the account or up to a particular agreed amount and will also include other deposit accounts which are neither Savings Deposit nor Term Deposit.

  • Direct Account : means any Account which is not an ISA Account.

  • Client Account means the unique personalised account of the Client consisting of all Completed Transactions, Open Positions and Orders in the Trading Platform, the balance of the Client money and deposit/withdrawal transactions of the Client money.

  • Judicial Council’s Master Account means the Judicial Council’s billing account to which the Contractor is authorized to charge specifically identified charges under this Agreement.