Examples of Concentration in a sentence
Client agrees to maintain sufficient Available Balances in the Concentration Account in order to offset the Total Clearings presented against the CDA by the established Cutoff Time.
The Borrower may also sell any Ineligible Collateral Asset or any portion of any Collateral Asset that is allocated to the Excess Concentration Amount at any time unless an Event of Default has occurred and is continuing (but otherwise without restriction).
In the event Bank receives from a governmental authority or third party any process, order, summons, injunction, levy, execution, lien, garnishment, or adverse claim notice which Bank reasonably believes will adversely affect the Concentration Account or the CDA, Bank may refuse to honor orders to pay or withdraw sums from any CDA and may either hold the Concentration Account balance herein until such action is resolved to Bank’s satisfaction.
Client agrees that Bank may debit the Concentration Account for such amount and transfer funds in the same amount for credit to the CDA each Business Day.
Client agrees nevertheless to fund the Concentration Account using an estimated amount of Inclearing Checks.