Agency Clearing Account Sample Clauses

Agency Clearing Account. The Bank shall establish clearing accounts for the Agency, as directed by the Agency. These accounts shall accurately reflect transactions of all kinds, with respect to securities of the Agency. These accounts are not to be construed as Depository Accounts. The Bank shall, on a contractual basis, credit or debit the Agency account on the contractual settlement date in connection with all trading transactions, income and principal payments to include, but not be limited to purchases, sales, maturities, redemptions, interest, or any other principal and income event. At the close of each business day, there shall be no “public funds” (as defined in RCW 39.58.010(16) now or as hereafter amended) in the clearing accounts. All “public funds” (as defined above) in an account shall be returned to the Agency prior to the close of business.
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Agency Clearing Account. The Bank shall establish clearing accounts for the Agency, as directed by the Agency. These accounts shall accurately reflect transactions of all kinds, with respect to securities of the Agency. These accounts are not to be construed as Depository Accounts. The Bank shall, on a contractual basis, credit or debit the Agency account on the contractual settlement date in connection with all trading transactions, income, and principal payments to include, but not be limited to purchases, sales, maturities, redemptions, interest, or any other principal and income event. At the close of each business day, no “public funds” (as defined in RCW 39.58.010(16) now or as hereafter amended) shall remain in the clearing accounts. All “public funds” (as defined above) in an account shall be returned to the Agency prior to the close of business. The Agency retains the exclusive authority to manage the assets of the Agency within the Bank’s custody. This includes the determination of which investments are made, what and when securities are sold or encumbered, the terms or conditions of any transaction, and the disposition of cash on hand. The Bank shall make no transaction without instructions from the Agency, except the advance crediting of principal, interest, and other proceeds to the Agency’s clearing account.
Sample 1
Agency Clearing Account. The Bank shall establish clearing accounts for the Agency, as directed by the Agency. These accounts shall accurately reflect transactions of all kinds, with respect to securities of the Agency. These accounts are not to be construed as Depository Accounts. The Bank shall, on a contractual basis, credit or debit the Agency account on the contractual settlement date in connection with all trading transactions, income and principal payments to include, but not be limited to purchases, sales,maturities, redemptions, interest, or any other principal and income event. At the close of each business day, there shall be no "public funds" (as defined in RCW 39.58.010(16) now or as hereafter amended) in the clearing accounts. All "public funds" (as defined above) in an account shall be retumed to the Agency prior to the close of business. 42.4.1 The Agency retains the exclusive authority to manage the assets of the Agency within the Bank's custody. This includes the deternunation of which investments shall be made, what and when securities shall be sold or encumbered, the terms or conditions of any transaction, and the disposition of cash on hand. The Bank Statewide Custody Provider Program Agreement for Custody Services 21 shall make no transaction without instructions from the Agency, except the advance crediting of principal, interest, and other proceeds to the Agency's clearing account. 43. NOTICES Notices and other writings shall be delivered by the most expeditious means available, with due regard given to the time sensitivity of the notice or demand being made: To the Agency: To the Bank: C�ty of Renton Xxxxx Fargo Bank.N.A. 5 floor Finance 000 0xx Xxx � 0000 X Xxxxx Xxx 11 th Floor, MAC P6540-11 H Xxxxxx, XX 00000 Xxxxxxx, XX 00000-0000 , Attention: Xxxxxx Xxxxxxx Attention: Xxxxx X. Xxxxxxx or to such other address as the Agency or the Bank may hereafter specify in writing. Telephone and facsimile notices shall be sufficient if communicated to the party entitled to receive such notice at the following numbers: If to the Agency: Telephone: 000.000.0000 Fax: 000.000.0000 If to the Bank: Telephone: 000-000-0000 Fax: 000-000-0000 or to such other numbers as either party may furnish the other party by written notice under this section. The Bank agrees to accept and act upon instructions or direchons pursuant to this Agreement sent by unsecured e-mail, facsimile transmission or other similar unsecured electronic methods, provided, however, that, the Bank shall ha...
Sample 1

Related to Agency Clearing Account

  • CUSTODIAL ACCOUNTS It is agreed that all accounts opened under the Uniform Gift to Minors Act (UGMA), the Uniform Transfers to Minors Act (UTMA), or similar state statutes will be properly created and that all property so transferred will be done in compliance with such applicable statutes. There will be good faith reliance upon the instructions given, representations made and actions taken by a transferor or custodian. Further, the custodian represents and warrants that the assets in the account belong to the minor and that all such assets, whether or not transferred out of the UGMA or UTMA account, will only be used for the benefit of the minor.

  • Custodial Account Funds in any custodial accounts established by the Servicer and maintained in respect of the REMIC may be invested and, if invested, shall be invested in Eligible Investments selected by the Servicer which shall mature not later than the Business Day immediately preceding the next Remittance Date, and any such Eligible Investment shall not be sold or disposed of prior to its maturity. All such Eligible Investments shall be made in the name of the REMIC or its nominee. All income and gain realized from any such investment shall be, as long as the Servicer is servicing the Mortgage Loans held by the REMIC, for the benefit of the Servicer as additional compensation and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the relevant account by the Servicer out of its own funds immediately as realized. The foregoing requirements for deposit in such account are exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments of interest on funds in such account and, as long as the Servicer is servicing the Mortgage Loans held by the REMIC, payments in the nature of prepayment fees, late payment charges, assumption fees or any similar fees customarily associated with the servicing mortgage loans paid by any mortgagor need not be deposited by the Servicer in such account and may be retained by the Servicer as additional servicing compensation. If the Servicer deposits in such account any amount not required to be deposited therein, it may at any time withdraw such amount, any provision herein to the contrary notwithstanding.

  • Interest Bearing Account If the Province provides Funds before the Recipient’s immediate need for the Funds, the Recipient will place the Funds in an interest bearing account in the name of the Recipient at a Canadian financial institution.

  • Payment Account (a) On or prior to the Closing Date, the Property Trustee shall establish the Payment Account. The Property Trustee and any agent of the Property Trustee shall have exclusive control and sole right of withdrawal with respect to the Payment Account for the purpose of making deposits in and withdrawals from the Payment Account in accordance with this Trust Agreement. All monies and other property deposited or held from time to time in the Payment Account shall be held by the Property Trustee in the Payment Account for the exclusive benefit of the Securityholders and for distribution as herein provided, including (and subject to) any priority of payments provided for herein.

  • Checking Accounts The Credit Union may refuse any check or other item drawn against your account or used to withdraw funds from your account if it is not on a form approved by us. We also reserve the right to refuse any check or other item drawn against your account or used to withdraw funds from your account if made in a manner not specifically authorized for your account, if made more frequently or in a greater number than specifically permitted for your account, or if made in an amount less than the minimum withdrawal or transfer specifically permitted for your account. If we accept a check or other item not on a form approved by us, you will be responsible for any loss by us in handling the item. We may pay checks or other items drawn upon your account in any order determined by us, even if paying a particular check or item results in an insufficient balance in your account to pay one or more other items that otherwise could have been paid out of your account. Because of the nature of the Credit Union check program, neither the Credit Union nor any other processing entities shall be responsible for the authenticity of the checks with regard to the signature or alterations; and checks, when presented, shall be paid without verification. We may disregard all information on or any writing or memorandum attached to any check or item except for your signature, the amount and the information that is magnetically encoded. You agree that we do not fail to use ordinary care because our procedures do not provide for sight examination. You will notify us immediately if you learn or have reason to know that any of your checks have been lost or stolen. If you are negligent in safeguarding your checks or if there is a processing problem due to your use of a check printer we do not approve, we will not have any liability or responsibility for any losses you incur as a result if we act in good faith pursuant to standard commercial practices.

  • Operating Account To the extent funds are not required to be placed in a lockbox pursuant to any Loan Documents, Property Manager shall deposit all rents and other funds collected from the operation of the Property in a reputable bank or financial institution in a special trust or depository account or accounts for the Property maintained by Property Manager for the benefit of the Company (such accounts, together with any interest earned thereon, shall collectively be referred to herein as the “Operating Account”). Property Manager shall maintain books and records of the funds deposited in and withdrawals from the Operating Account. With funds from Company, Property Manager shall maintain the Operating Account so that an amount at least as great as the budgeted expenses for such month is in the Operating Account as of the first of each month. From the Operating Account, Property Manager shall pay the operating expenses of the Property and any other payments relative to the Property as required by this Agreement. If more than one account is necessary to operate the Property, each account shall have a unique name, except to the extent any Lender requires sub-accounts within any account. Within three (3) months after receipt by Property Manager, all rents and other funds collected in the Operating Account, after payment of all operating expenses, debt service and such amounts as may be determined by the Property Manager to be retained for reserves or improvements, shall be paid to the Company.

  • PJM E-Accounts Buyer and Seller shall work with PJM to establish any PJM E-Accounts necessary for Seller to provide Full Requirements Service. In a timely manner, Xxxxx shall establish PJM E-Account contract(s) for the entire duration of the Transaction(s) and Seller shall confirm the PJM E-Account contract(s) for the entire duration of the Transaction(s).

  • Client Account 4.1 In order to facilitate trading in CFDs, the Company will open a Client Account for the Client, which will be activated upon the Client depositing the minimum initial deposit as determined by the Company in its discretion from time to time. The minimum initial deposit may vary according to the account type of the Client Account. This information is made available on our Website.

  • Bank Account Payments shall be made to the Contractor’s bank account denominated in euro, identified as follows: Name of bank: [complete] Address of branch in full: [complete] Exact designation of account holder: [complete] Full account number including codes: [complete] [IBAN code: [complete]]

  • Special Account 1. For the purposes of this Schedule:

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