Special Deposit Facility Account definition

Special Deposit Facility Account means an Account denominated in Ringgit Malaysia for purposes of resident exporters receiving Ringgit Malaysia arising from conversion of foreign currency export proceeds or for such other purposes as may be prescribed by BNM from time to time.
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Special Deposit Facility Account or “SDF Account” means banking account registered as a special deposit facility account (if applicable);
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Examples of Special Deposit Facility Account in a sentence

  • You hereby agree and consent to the opening of the Special Deposit Facility Account.

  • The Special Deposit Facility Account shall be subject to the Laws, rules, regulations, directives, guidelines and notices (including those issued by BNM) from time to time.

  • If you do not have a Special Deposit Facility Account with us, a Special Deposit Facility Account will be opened for you and the Ringgit Malaysia will be deposited into the Special Deposit Facility Account.

  • Ringgit Malaysia deposited into the Special Deposit Facility Account are Ringgit Malaysia converted from Foreign Currency export proceeds only and in such amounts or portions as maybe prescribed by BNM from time to time.

Related to Special Deposit Facility Account

  • Special Deposits have the meanings given to them from time to time under or pursuant to the Bank of England Act 1998 or (as may be appropriate) by the Bank of England;

  • Collateral Deposit Account shall have the meaning set forth in Section 7.1(a).

  • Facility Account means the account of Seller at Bank One, Account ---------------- No. 10-36987.

  • Reserve Account Initial Deposit means cash or Eligible Investments having a value of at least $____________.

  • Special deposit claim means a claim secured by a deposit made pursuant to statute for the security or benefit of a limited class or classes of persons, but not including a claim secured by general assets.

  • Disbursement Account means any Deposit Account maintained by Borrower with a financial institution for the purpose of receiving and disbursing the proceeds of Loans made pursuant hereto.

  • L/C Cash Deposit Account means an interest bearing cash deposit account to be established and maintained by the Agent, over which the Agent shall have sole dominion and control, upon terms as may be satisfactory to the Agent.

  • 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.

  • Disbursement Accounts has the meaning ascribed to it in Annex C.

  • Cash Collateral Account Agreement With respect to any Mortgage Loan, the cash collateral account agreement, if any, between the originator of such Mortgage Loan and the related Mortgagor, pursuant to which the related Cash Collateral Account, if any, may have been established.

  • Initial Deposit shall have the meaning set forth in Section 2.5(a).

  • Funding Accounts has the meaning assigned to such term in Section 4.01(h).

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • Initial Deposit Amount means the Issuing Entity’s deposit to the Reserve Account, on or before the Closing Date, of $[•].

  • Deposit Account Agreement means the Deposit Account Agreement and Disclosure, as may be amended from time to time, issued by the Custodian and available on the Custodian’s internet customer portal, “xx.xxxxxxxxxxx.xxx”.

  • Deposit Account means a demand, time, savings, passbook or like account with a bank, savings and loan association, credit union or like organization, other than an account evidenced by a negotiable certificate of deposit.

  • L/C Cash Collateral Account means any Cash Collateral Account (a) specifically designated as such by the Borrower in a notice to the Administrative Agent and (b) from and after the effectiveness of such notice, not containing any funds other than those required under the Loan Documents to be placed therein.

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Controlled Disbursement Account means any account of the Borrowers maintained with the Administrative Agent as a zero balance, cash management account pursuant to and under any agreement between a Borrower and the Administrative Agent, as modified and amended from time to time, and through which all disbursements of a Borrower, any other Loan Party and any designated Subsidiary of a Borrower are made and settled on a daily basis with no uninvested balance remaining overnight.

  • Controlled Deposit Account means a Deposit Account (i) that is subject to a Deposit Account Control Agreement or (ii) as to which the Collateral Agent is the Depositary Bank’s “customer” (as defined in UCC Section 4-104).

  • Designated Deposit Account is Borrower’s deposit account, account number , maintained with Bank.

  • Project Account means the account referred to in Section 3.04 (a) of this Agreement;

  • Cash Collateral Account means a blocked, non-interest bearing deposit account of one or more of the Loan Parties at Bank of America in the name of the Administrative Agent and under the sole dominion and control of the Administrative Agent, and otherwise established in a manner satisfactory to the Administrative Agent.

  • Collateral Account Agreement means the Collateral Account Agreement executed and delivered by Company and Administrative Agent on the Closing Date, substantially in the form of EXHIBIT XXIII annexed hereto, as such Collateral Account Agreement may hereafter be amended, supplemented or otherwise modified from time to time.