Sweep Investment definition

Sweep Investment means a registered or unregistered investment vehicle selected by Customer and identified to Custodian (the “Customer Investment”) in the Sweep Direction in connection with which the Custodian is directed in a Sweep Direction to automatically or otherwise in a purely ministerial capacity withdraw on a daily or other periodic basis some or all of the cash held in the applicable Customer’s Account at the designated Sweep Investment’s deadline on a Business Day to purchase shares of the Customer Investment to be held in or credited to the applicable Customer’s Account and, in accordance with the Sweep Direction, sell shares of the Customer Investment and credit the applicable Customer’s Account such proceeds, less the sum of any investment loss, fees, expenses or other charges assessed on the Sweep Investment, in accordance with the Sweep Direction.
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Sweep Investment means a cash management product offered by the Bank to certain classes or groups of its customers, including the Debtor, by which the Bank automatically (i) withdraws all or a portion of the funds in the Deposit Account on a daily or other periodic basis, (ii) invests the withdrawn funds for the benefit or account of the Debtor in securities directly held by the Bank,4 in instruments directly held by the Bank,5 in a securities account for which the Bank is either the entitlement holder6 or the securities intermediary7, or in a deposit account for which the Bank is either the depositary bank’s customer8 or the depositary bank9, (iii) at the end of the investment period, re-deposits to the Deposit Account funds that were withdrawn by the Bank from the Deposit Account and invested in the Sweep
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Sweep Investment means a cash management product offered by State Street to certain classes or groups of its customers, including the Borrower, by which State Street automatically or otherwise (i) withdraws on a daily or other periodic basis all or a portion of the funds in a deposit account maintained by the Borrower with State Street, (ii) invests the withdrawn funds for the benefit or account of the Borrower in securities directly held by State Street, in instruments directly held by State Street, in a securities account for which State Street is either the entitlement holder or the securities intermediary, or in a deposit account for which State Street is either the depositary bank’s customer or the depositary bank, (iii) at the end of the investment period, re-deposits to such deposit account funds that were withdrawn by State Street from such deposit account and invested in the Sweep Investment, less any loss of funds suffered by the investment and the amount of any fees or other charges assessed on the Sweep Investment, and (iv) credits to such deposit account the amount of any interest or other return on the investment, if any, earned on the funds in the investment during the specific investment period, all in accordance with the Sweep Agreement governing the Sweep Investment. Other terms defined in the UCC have the same meanings in this Agreement as in the UCC. If a term is defined in Article 9 of the UCC and in another Article of the UCC, the Article 9 definition controls.
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Examples of Sweep Investment in a sentence

  • Thus, MSWM has a conflict of interest in selecting or recommending BDP as the Sweep Investment, rather than an eligible Money Market Fund.

  • Cybersecurity experts spent days attempting to patch up things as hundreds of thousands of devices online were at risk of being attacked.

  • Once your sweep option has been changed, we will not automatically change it back to your previous Sweep Investment even if you meet the minimum initial investment and/or balance requirements.

  • If we cease offering your Sweep Investment and you do not select a new Sweep Investment, your new Sweep Investment will be the default Sweep Investment as designated by us for such account.

  • Generally, a Bank will offer a Sweep Investment to the Debtor only in the Bank’s discretion.

  • You agree that upon selection of a new Sweep Investment we may, as applicable, sell your shares in, or withdraw your funds from, your current Sweep Investment and, as applicable, purchase shares or deposit funds in your new Sweep Investment.

  • A Secured Party should not expect the Bank to provide any rights to a Secured Party or for the Bank to assume any obligations relating to a Sweep Investment other than those provided for in this Insert.

  • You acknowledge that the rate of return on a default Sweep Investment may be higher or lower than the rate of return available in other Sweep Investments.

  • A Bank may have certain eligibility criteria that a customer must meet in order to be considered by the Bank as a Sweep Investment candidate.

  • Rather, a Sweep Investment usually involves the Bank commingling funds of the Debtor from its Deposit Account with funds of other depositary banking customers of the Bank who have made similar investment elections.


More Definitions of Sweep Investment

Sweep Investment has the meaning set forth in the Recitals hereof.
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Related to Sweep Investment

  • PIPE Investment has the meaning specified in the Recitals hereto.

  • Alternative Investment Vehicle means an entity created in accordance with the Operative Documents of a Borrower to make investments and that has the right to call on Capital Commitments directly from Investors.

  • Investment Vehicle means a corporation, partnership, limited partnership, limited liability company, association, or other entity, either domestic or foreign, managed by an external manager in which a board is the majority investor and that is organized in order to invest with, or retain the investment management services of, other external managers.

  • PIPE Investment Amount has the meaning specified in Section 6.16.

  • Equity Investment means (i) an Equity Security; and (ii) an ownership interest in any company or other entity, any membership interest that includes a voting right in any company or other entity, any interest in real estate; and any investment or transaction which in substance falls into any of these categories even though it may be structured as some other form of investment or transaction.

  • Minimum Investment means an investment in the project of at least two and one‑half million dollars within the investment period. If a county has an average annual unemployment rate of at least twice the state average during the last twenty‑four month period based on data available on the most recent November first, the minimum investment is one million dollars. The department shall designate these reduced investment counties by December thirty‑first of each year using data from the South Carolina Department of Employment and Workforce and the United States Department of Commerce. The designations are effective for a sponsor whose fee agreement is signed in the calendar year following the county designation. For all purposes of this chapter, the minimum investment may include amounts expended by a sponsor or sponsor affiliate as a nonresponsible party in a voluntary cleanup contract on the property pursuant to Article 7, Chapter 56, Title 44, the Brownfields Voluntary Cleanup Program, if the Department of Health and Environmental Control certifies completion of the cleanup. If the amounts under the Brownfields Voluntary Cleanup Program equal at least one million dollars, the investment threshold requirement of this chapter is deemed to have been met.

  • Nonpurpose Investment means any investment property, as defined in section 148(b) of the Code, in which Gross Proceeds of the Bonds are invested and which is not acquired to carry out the governmental purposes of the Bonds.

  • Investment Vehicles means any investment company or pooled investment fund, including, but not limited to, mutual fund families, exchange-traded funds, fund of funds and hedge funds, in which a Defendant has or may have a direct or indirect interest, or as to which its affiliates may act as an investment advisor, but of which a Defendant or its respective affiliates is not a majority owner or does not hold a majority beneficial interest.

  • Minority Investment means any Person (other than a Subsidiary) in which the Borrower or any Restricted Subsidiary owns Capital Stock.

  • Alternative Investments means investments in the said State which are within the ability and competence of the Company or of corporations which are related to the Company for the purposes of the Companies (Western Australia) Code and which are approved by the Minister from time to time as alternative investments for the purpose of this Agreement (which approval shall not be unreasonably withheld in the case of an investment which would add value or facilitate the addition of value, beyond mining, to the mineral resources of the said State);”;

  • Alternative investment means an investment in a private equity fund, venture fund, hedge fund, or absolute return fund.

  • Liquid Investments means:

  • Approved Investment means any type of security, instrument, participation or interest in property, as set forth on Schedule I hereto (which may be amended from time to time by execution of a revised Schedule I, I-A or I-B) in which Cash Collateral may be invested or reinvested by Bank in accordance with Paragraph 2 of Article IV hereof.

  • Investment pool means an entity created under the Texas Gov- ernment Code to invest public funds jointly on behalf of the entities that participate in the pool and whose investment objectives in or- der of priority are preservation and safety of principal, liquidity, and yield.

  • Mezzanine Investments means debt Securities (including convertible debt Securities (other than the “in-the-money” equity component thereof)) and Preferred Stock in each case (a) issued by public or private issuers, (b) issued without registration under the Securities Act, (c) not issued pursuant to Rule 144A under the Securities Act (or any successor provision thereunder), (d) that are not Cash Equivalents and (e) contractually subordinated in right of payment to other debt of the same issuer.

  • Permitted Cash Equivalent Investments means (i) marketable direct obligations issued or unconditionally guaranteed by the United States or any agency or any State thereof having maturities of not more than two (2) years from the date of acquisition and (ii) commercial paper maturing no more than one (1) year after its creation and having the highest rating from either Standard & Poor’s Ratings Group or Xxxxx’x Investors Service, Inc.

  • Equity Investments shall have the meaning provided in the preamble to this Agreement.

  • Qualified equity investment means any equity investment in, or long-term debt security issued by, a qualified community development entity that:

  • Permitted Joint Venture Investment means an Investment by such Person in any other Person engaged in the Oil and Gas Business (a) over which such Person is responsible (either directly or through a services agreement) for day-to-day operations or otherwise has operational and managerial control of such other Person, or veto power over significant management decisions affecting such other Person, and (b) of which at least 30% of the outstanding Equity Interests of such other Person are at the time owned directly or indirectly by such Person.

  • Investment Account As defined in Section 3.12(a).

  • Liquidity Account Investments means Deposit Securities or any other security or investment owned by the Fund that is rated not less than A3 by Moody’s, A- by Standard & Poor’s, A- by Fitch or an equivalent rating by any other NRSRO (or any such rating’s future equivalent).

  • Investment Assets means all debentures, notes and other evidences of Indebtedness, stocks, securities (including rights to purchase and securities convertible into or exchangeable for other securities), interests in joint ventures and general and limited partnerships, mortgage loans and other investment or portfolio assets owned of record or beneficially by the Company or any Subsidiary.

  • Investment Proceeds means, with respect to any Determination Date, all interest and other investment earnings (net of losses and investment expenses) on funds on deposit in the Series 1996-1 Accounts, together with an amount equal to the Series 1996-1 Allocation Percentage of the interest and other investment earnings on funds held in the Collection Account credited as of such date to the Collection Account pursuant to Section 4.02 of the Agreement.

  • Performing Cash Pay Mezzanine Investments means Mezzanine Investments (a) as to which, at the time of determination, not less than 2/3rds of the interest (including accretions and “pay-in-kind” interest) for the current monthly, quarterly, semi-annual or annual period (as applicable) is payable in cash and (b) which are Performing.

  • Permitted Investment means an Investment by the Company or any Restricted Subsidiary in: