Bank Operations Clause Samples
The BANK OPERATIONS clause defines the rules and procedures governing how banking transactions and related activities are to be conducted under the agreement. It typically outlines the responsibilities of the parties in managing bank accounts, processing payments, and handling deposits or withdrawals. For example, it may specify which party is authorized to initiate transfers or how funds should be allocated between accounts. The core function of this clause is to ensure clarity and consistency in financial dealings, reducing the risk of disputes or errors in the management of funds.
Bank Operations. Upon approval of the mitigation banking instrument (MBI) by the IRT, the mitigation bank shall be authorized through a Department of the Army permit. Approved work at the bank may commence at that time in accordance with the following:
1. Credits may be sold once they are released. After initial credit release, the banker must submit data to the IRT that demonstrates a performance standard has been met. An IRT review of the data will be conducted throughout the growing season, and if necessary, the IRT may conduct a field visit prior to a requested credit release;
2. The initial physical and biological improvements at the bank site (including, but not limited to, grading, planting, and restoration of hydrology) must be completed no later than the end of the first full growing season following initial debiting of the bank. Initial debiting of the bank is defined as the date of the first approved sale from the bank under the allowable pre- construction sales as established in this agreement. This provision is not applicable to single user banks;
3. During the construction phase of the mitigation bank, qualified personnel must record periodic inspections of the site to ensure that soil erosion control measures are employed and functioning properly. If applicable, site inspection reports must be submitted to the District on a monthly basis during construction activities;
4. Monitoring reports for the mitigation bank must be provided to all members of the IRT on an annual basis until all performance standards are met and all credit sales are complete (Appendix B). Joint field inspections by the IRT shall be conducted on a regular basis for confirmation of the submitted data as defined below:
a. The permittee or sponsor is responsible for submitting monitoring reports in accordance with the special conditions of the DA permit or the terms of the MBI. Failure to submit monitoring reports in a timely manner will result in compliance action by the District;
b. The information in the monitoring report must be sufficient for the District engineer to determine how the mitigation project is progressing towards meeting its performance standards, and may include as-built plans, maps, photographs, etc., to illustrate site conditions. Monitoring reports must include the results of functional condition, or other assessments used to provide quantitative or qualitative measures of the functions provided by the mitigation site;
c. If the mitigation project cannot be constructe...
Bank Operations. Each of the Organizers agrees to use its, his or her best efforts to cause the Bank to be successful. Each of the Organizers acknowledges and agrees that in addition to core deposit growth, the Organizers will work to expand the Bank's operations through selected acquisitions of banks and other financial institutions, provided, however, that no offer will be made for any such institution without the prior consent of the Company.
Bank Operations. The Vendor agrees to use Peoria Civic Center cash banks and adhere to Peoria Civic Center cash and banking policy. All banks are to be picked up during pre-event preparations and returned during post event closings. Under no circumstances should the Vendor bring in their own bank.
Bank Operations. Responsibility for and management of the financial liability associated with the redemption of AOL Rewards Program currency or any Customized AOL Rewards Program currency. "Bank Operations" shall include any software or technology [ *** ] = CERTAIN INFORMATION ON THIS PAGE HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. required to operate, manage, maintain, distribute or support the Bank Operations, or to provide interconnectivity between the Bank Operations and the AOL Rewards Program or any Customized AOL Rewards Program. For the avoidance of doubt, "Bank Operations" shall not include the AOL Rewards Program (or any Customized AOL Rewards Program) database and related AOL software.
Bank Operations. If we request arbitration of a Dispute, we will notify you at your most recent address found in our books and records. Arbitration will be held in the State in which your Account is located. Your account is considered located in the following U.S. State: First, if you opened your account in person, then the State where you opened the account; Second, if you opened your account by mail, internet, or other remote means and you resided in a U.S. State where we had branch offices at that time, then the State where you resided; or Third, if you opened your account by mail, internet, or other remote means and you did not reside in a U.S. State where we had offices at that time, then West Virginia. Each arbitration, including the selection of the arbitrator, shall be administered by the American Arbitration Association (“AAA”), or such other administrator to which you and we mutually agree, according to the Commercial Arbitration Rules or, if you are a consumer, then the Consumer Arbitration Rules, as each may be amended, updated, or replaced from time to time (collectively the “AAA Rules”). To the extent that there is any conflict between the AAA Rules or other administrator rules and this Arbitration Agreement, this Arbitration Agreement shall control. There shall be one arbitrator. The arbitrator must be a member of the state bar where the arbitration is held, with expertise in the substantive laws applicable to the subject matter of the Dispute. The parties and the arbitrator shall keep confidential and not disclose the existence or results of an arbitration proceeding, as well as all records used therein, except as required in the ordinary course of the party’s business or by applicable law or regulation. No arbitrator shall have authority to entertain any Dispute on behalf of a person who is not a named party, nor shall any arbitrator have authority to make any award for the benefit of or against any person who has not individually and directly participated in the proceeding. Any award issued by an arbitrator shall be accompanied by a written reasoned opinion.
Bank Operations