Subsidiary Account definition

Subsidiary Account means the Account designated on a Sweep Services Enrollment Form as the Subsidiary Account.
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Subsidiary Account means an Account to which funds are swept automatically from a Balance Account based on the Sweep Balance in the Balance Account. ▪ Sweep means the movement of the funds between the Accounts that are part of the Sweep Services. ▪ Sweep Balance means a balance threshold set by Customer for a Balance Account such that funds in an amount less or more than the balance threshold automatically sweep to or from the Balance Account.
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Subsidiary Account means an Account where excess collected funds are automatically transferred to a Master Concentration Account leaving the subsidiary Account(s) with a daily zero balance.
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Examples of Subsidiary Account in a sentence

  • All part-time employees who are members of a collective bargaining unit, who are paid from the 01 or 02 Subsidiary Account, and who have completed at least six months of full-time equivalent service as of the date of enrollment, shall be eligible for system-wide tuition remission benefits.

  • All part-time employees who are members of a collective bargaining unit, who are paid from the AA Subsidiary Account, and who have completed at least six months of full-time equivalent service as of the date of enrollment, shall be eligible for system-wide tuition remission benefits.

  • Customer’s instructions to Bank regarding which accounts to include and the level of balances to be maintained in each Subsidiary Account shall be as specified by Customer in writing, subject to modification from time to time if requested by Customer.

  • Bank shall provide to Customer the Zero Balance Account (“ZBA”) service, in which Bank shall initiate automatic transfers of funds from certain accounts designated by Customer (“Subsidiary Accounts”) into a single account designated by Customer to hold funds transferred from one or more Subsidiary Accounts (the “Master Account”) in order to arrive at a specified ending balance (“target” balance) in each Subsidiary Account.

  • The Balance Account and any deposit account that is the Parent Account or Subsidiary Account must be a checking account (excluding accounts with restrictions) or a Loan Account.

  • All full-time employees of a State or Community College who are paid from the AA Subsidiary Account, and who have completed at least six (6) months of service as of the date of enrollment, shall be eligible for system-wide tuition remission benefits.

  • You agree that all instructions to us related to your Master Account and any Subsidiary Account as outlined herein will be in full compliance with Section 468B of the Internal Revenue Code.

  • In the event that two Customers are involved with a single Section 1031 Exchange, you agree to open a separate Subsidiary Account for each Client, with the Exchange Funds being distributed across each Subsidiary Account by you, as instructed and per the interest arrangement designated on the Application.

  • We will assign an interest rate to each Subsidiary Account, as agreed upon between you and us, based on your request.

  • We shall not be liable for any damages resulting from erroneous Master Account or Subsidiary Account information, unless you give us prompt notice as indicated above, and you exercise ordinary care in attempting to prevent and detect such erroneous information.


More Definitions of Subsidiary Account

Subsidiary Account means a BSP account in the name of a Subsidiary.
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Subsidiary Account shall have the meaning set forth in Section 3.13(b).
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Subsidiary Account means any account maintained at Bank under the name of a subsidiary of GAC.
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Subsidiary Account. The meaning specified in Section 7.4(e).
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Subsidiary Account and "Subsidiary Accounts" shall mean any OPNY Account or OPMW Account or all of them.
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Related to Subsidiary Account

  • Primary Account or “Settlement Account” shall mean, in case of multiple Accounts linked to the ATM/Debit Card, the Account that has been designated as being the main/first Account of operation i.e. the Account from which purchase transactions, charges and fees related to the ATM/Debit Card are debited.

  • Subsidy Account If the Trust Estate contains any Subsidy Loans, the deposit account or accounts created and maintained by the Servicer for deposit of Subsidy Funds and amounts payable under interest subsidy agreements relating to mortgage loans other than the Mortgage Loans.

  • Fiduciary Account means an account in which the lawyer deposits fiduciary property.

  • Discretionary Account means a Personal Account in which you have completely turned over decision-making authority to a professional money manager (who is not a Family Member or not otherwise covered by this Code) and you have no direct or indirect influence or control over the account. (Such Discretionary Accounts are often referred to as “professionally managed,” “controlled” or “managed” accounts.)

  • 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.

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

  • 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.

  • Sub-Account means any of the individual sub-accounts of a Participant’s Account that is maintained as provided in Article VIII.

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

  • Revenue Account means the Revenue Account established pursuant to the Resolution. “Revenues” means the Pledged Receipts and Recoveries of Principal.

  • Business Account means an Account used primarily for business purposes and not for personal, family, or household purposes.

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

  • Intercompany Account means any receivable, payable or loan between any member of the Ensign Group, on the one hand, and any member of the Pennant Group, on the other hand, that exists prior to the Effective Time and is reflected in the records of the relevant members of the Ensign Group and the Pennant Group, except for any such receivable, payable or loan that arises pursuant to this Agreement or any Ancillary Agreement.

  • Affiliate Account means, as to any Access Person, an Account:

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • Rollover Contribution Account means the separate Account maintained for a Member to record such Member's share of the Trust Fund attributable to any Rollover Contribution made to the Plan on his behalf.

  • Surplus Account has the meaning assigned to it in Section 3.02(a).

  • Operating Accounts shall have the meaning ascribed to it in Section 4.03.A.

  • Depository Accounts shall have the meaning set forth in Section 4.15(h) hereof.

  • Borrower Account has the meaning specified in Section 2.11(a)(ii).

  • Collection Accounts As defined in Section 3.10(a).

  • Holding Account means an account:

  • Member Account means the regular account and the variable account.

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

  • Company Contribution Account means (i) the sum of the Participant’s Company Contribution Amounts, plus (ii) amounts credited or debited to the Participant’s Company Contribution Account in accordance with this Plan, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant’s Company Contribution Account.