Authorized Account Sample Clauses

Authorized Account. An authorized account is a deposit account you have with us that you have designated as a source of payment of payment orders you issue to us. If you have not designated an authorized account, any account you have with us is an authorized account to the extent that payment of the payment order is not inconsistent with the use of the account.
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Authorized Account. If you make a Funds Transfer, you agree to tell us which of your Accounts will be used to pay the Funds Transfer. If you do not do so, we may pay your Funds Transfer from any of your Accounts.
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Authorized Account. If a Payment Order received by the Branch does not specifically designate any particular Account of the Depositor which is to serve as the source of payment of the Payment Order, then any Account of the Depositor shall be an authorized account for such payment order.
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Authorized Account. You agree to designate an Authorized Account for use with the Services and you authorize us to debit the Authorized Account (or any other account maintained by you at the Credit Union) for fees and other amounts due to us in connection with your use of the Services. You may not designate a savings or money market account as the Authorized Account. If the Authorized Account is restricted or closed for any reason, your Services may be suspended along with any unprocessed Service transactions. To reinstate suspended Services, you will be required to designate a new Authorized Account. You agree to maintain enough funds in your Authorized Account to cover your transactions. You agree we may require you to maintain a pre- determined amount in your Authorized Account and that your Authorized Account funds may be held by us for a period of time following termination of the Services to protect us from possible losses.
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Authorized Account. If you make a Funds Transfer, you agree to tell us which deposited on the next business day the night depository or lockbox is open. Same-Day Availability: Funds fromthe following deposits are available on the same day they are deposited: • Fundsreceivedfor deposit by an electronicpayment (including ACH • Wiretransfersreceivedpriorto5:00p.m.; • Checks drawn on this institution (unless funds are not available in the Account on which the check is drawn; or if the check is drawn on a Bank Rhode Island customer’s controlled disbursement account). • Cash deposits made at a teller window. If you do not make your deposit in person to one of our tellers (for example, if you mail the deposit), funds from these deposits will be available on the first business day after the day of your deposit. Longer Delays May Apply: Fundsyou deposit by check may bedelayedfor a longer period under the following circumstances: • You deposit checks totaling more than $5,525.00 on any one day. • Webelieve a check you deposit will not be paid. • Youredeposit a check thathasbeenreturnedunpaid. • You have overdrawn your Account repeatedly in the last six (6) months. • Thereis an emergency, such as failure of communications or computer equipment. We will notify you if we delay your ability to withdraw funds for any of these reasons, and we will tell you when the funds will be available. They will generally be available no later than the fifth business day after the day of your deposit. If the decision to delay availability is not made at the time you make the deposit, we will mail you a notice by the first business day after we receive your deposit. The notice will tell you when the funds will be available. Special Rules for New Accounts: If you are a new customer, the following special rules will apply during the firstthirty(30)daysyouraccountisopen. Funds from electronic direct deposits into your account, wire transfers received by 5:00 p.m., and cash deposits made in person to one of our employees will be available on the day we receive the deposit. The first $5,525.00 of a day’s total deposits of cashier’s, certified, teller’s and federal, state and local government checks will be available on the first business day after the day of your deposit, if the deposit meets certain conditions. For example, the checks must be payable to you. The excess over $5,525.00 will be available no later than the fifth business day after the day of your deposit. If your deposit of these checks (other th...
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Authorized Account. An authorized account is a deposit account you have with us that you have designated as a source of payment of payment orders you issue to us. If you have not designated an authorized account, any account you have with us is an authorized account to the extent that payment of the payment order is not inconsistent with the use of the account. Acceptance of your payment order: We are not obligated to accept any payment order that you give us, although we normally will accept your payment order if you have a withdrawable credit in an authorized account sufficient to cover the order. If we do not execute your payment order, but give you notice of our rejection of your payment order after the execution date or give you no notice, we are not liable to pay you as restitution any interest on a withdrawable credit in a non-interest-bearing account. Cutoff time: If we do not receive your payment order or communication canceling a payment order before our cutoff time on a funds transfer day for that type of order or communication, the order or communication will be deemed to be received at the opening of our next funds transfer business day.
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Authorized Account. Agent is authorized to make the Revolving Loans and Issuing Bank is authorized to issue the Letters of Credit, under this Agreement based upon telephonic or other instructions received from anyone purporting to be an Authorized Person or, without instructions, if pursuant to Section 2.6(d). Borrowers agree to establish and maintain the Authorized Account for the purpose of receiving the proceeds of the Revolving Loans requested by Borrowers and made by Agent or the Lenders hereunder. Unless otherwise agreed by Agent and Borrowers, any Revolving Loan or Swing Loan requested by Borrowers and made by Agent or the Lenders hereunder shall be made to the Authorized Account.
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Related to Authorized Account

  • Designated Accounts The Collection Account, the Note Distribution Account and the Reserve Account, collectively. Determination Date: The tenth day of each calendar month, or if such tenth day is not a Business Day, the next succeeding Business Day. Discount Rate: 0.00% per annum.

  • Designated Account Agent is authorized to make the Revolving Loans, and Issuing Bank is authorized to issue the Letters of Credit, under this Agreement based upon telephonic or other instructions received from anyone purporting to be an Authorized Person or, without instructions, if pursuant to Section 2.6(d). Borrowers agree to establish and maintain the Designated Account with the Designated Account Bank for the purpose of receiving the proceeds of the Revolving Loans requested by Borrowers and made by Agent or the Lenders hereunder. Unless otherwise agreed by Agent and Borrowers, any Revolving Loan or Swing Loan requested by Borrowers and made by Agent or the Lenders hereunder shall be made to the Designated Account.

  • Control Account The Agent shall open and maintain on its books a control account in the name of the Borrower showing the advance of the Loan and the computation and payment of interest and all other sums due under this Agreement. The Borrower’s obligations to repay the Loan and to pay interest and all other sums due under this Agreement shall be evidenced by the entries from time to time made in the control account opened and maintained under this Clause 17.7 and those entries will, in the absence of manifest error, be conclusive and binding.

  • Depository Account A trust fund account for the benefit of Owner established and maintained in an FDIC insured or guaranteed account to be opened by the Owner.

  • Clearing Account If the Servicer finds it necessary to use a clearing account, the following guidelines must be followed:

  • Segregated Account The Custodian shall upon receipt of Proper Instructions from the Fund on behalf of each applicable Portfolio establish and maintain a segregated account or accounts for and on behalf of each such Portfolio, into which account or accounts may be transferred cash and/or securities, including securities maintained in an account by the Custodian pursuant to Section 2.10 hereof, (i) in accordance with the provisions of any agreement among the Fund on behalf of the Portfolio, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered contract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Portfolio, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Portfolio or commodity futures contracts or options thereon purchased or sold by the Portfolio, (iii) for the purposes of compliance by the Portfolio with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, BUT ONLY, in the case of clause (iv), upon receipt of, in addition to Proper Instructions from the Fund on behalf of the applicable Portfolio, a certified copy of a resolution of the Board of Trustees or of the Executive Committee signed by an officer of the Fund and certified by the Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

  • Disbursement from the Bank Account 4.1 Subject to 4.3 below, if by the close of regular banking hours on the Termination Date the Escrow Agent determines that the amount in the Fund is less than the Minimum Dollar Amount or the Minimum Securities Amount, as indicated by the Subscription Information submitted to the Escrow Agent, then in either such case, the Escrow Agent shall promptly refund to each prospective purchaser the amount of payment received from such purchaser which is then held in the Fund or which thereafter clears the banking system, without interest thereon or deduction therefrom, by drawing checks on the Bank Account for the amounts of such payments and transmitting them to the purchasers. In such event, the Escrow Agent shall promptly notify the Issuer of its distribution of the Fund.

  • Control Accounts The Agent shall maintain on its books a control account or accounts in which shall be recorded (a) the amount of any Unpaid Sum and the face amount of each Letter of Credit issued hereunder, (b) the amount of all fees, interest and other sums due or to become due from the Borrower and (c) the amount of any sum received or recovered by the Agent hereunder.

  • FIXED ACCOUNT An account that is part of SBL's General Account. SBL guarantees that it will credit interest on Contract Value allocated to the Fixed Account at an annual rate at least equal to the Guaranteed Rate set forth on page 3.

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