Cash at Bank Sample Clauses

Cash at Bank. A balance of Cash at Bank of not less than $500,000, monitored on a daily basis.
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Cash at Bank. A balance of Cash at Bank of not less than $500,000, monitored on a daily basis; provided that, to the extent that the Insurance Company Subsidiary maintains funds in Cash at Bank or in Bank investments, Bank’s CDARS products, or other Bank instruments in excess of the amount necessary to comply with Section 2.1(b)(i) of this Agreement, such funds shall be included for purposes of calculating the balance of Cash at Bank for this Section 6.7(b).
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Cash at Bank. Borrower shall maintain unrestricted and unencumbered cash in accounts in the name of Borrower only with Bank and Bank’s Affiliates in an amount greater than or equal to Fifteen Million Dollars ($15,000,000.00) at all times.” 2 The Loan Agreement shall be amended by deleting the following provision appearing as the first sentence of Section 6.12 (Liquidity) thereof: “At all times, Borrower shall maintain unrestricted cash, Cash Equivalents, short-term investments and long-term investments in accounts with Bank or Bank’s Affiliates in an amount equal to at least the Nine Month Cash Burn Amount (the “Liquidity Requirement”).” and inserting in lieu thereof the following: “At all times, Borrower and Securities Corp. shall maintain unrestricted cash, Cash Equivalents, short-term investments and long-term investments in accounts with Bank or Bank’s Affiliates in an aggregate amount equal to at least the Nine Month Cash Burn Amount (the “Liquidity Requirement”).” 3 The Loan Agreement shall be amended by deleting the following provision appearing as Section 8.2(a) (Covenant Default) thereof:
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Cash at Bank. Cash shall be recorded at cash book value per the books and records of the Company. The Completion Net Asset Statement shall not include cash which is not capable of being lawfully spent, distributed, loaned or released by the Company from the jurisdiction in which it is situated without deduction or withholding or additional cost (other than the costs of the transfer from a bank account incurred in the ordinary course) and which is not accessible in the manner described above within a period of 2 Business Days, or which is otherwise committed (including without limitation any cash held in respect of security rent deposits, in respect of employee withholding taxes or any other cash held as collateral in respect of obligations of any party).
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Cash at Bank. Maintain, at all times, cash in Deposit Accounts at Bank of not less than $300,000.
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Cash at Bank. The Seller covenants that as at close of business on the Completion Date, the Company shall have at least £1,500,000 of cash in credit in its bank account.
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Cash at Bank. Maintain at all times, to be tested as of each day, unrestricted and unencumbered cash at Bank in an aggregate amount of at least One Million Dollars ($1,000,000.00).
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Related to Cash at Bank

  • Cash at Closing At Closing, Purchaser shall pay to Seller, by wire transferred current federal funds, an amount equal to the Purchase Price, minus the sum of the Xxxxxxx Money which Seller receives at Closing from the Escrowee, and plus or minus, as the case may require, the closing prorations and adjustments to be made pursuant to Section 4(C) below.

  • Payment of Overdrafts If, on any day, the available funds in your share or deposit account are not sufficient to pay the full amount of a check, draft, item, transaction, or other items posted to your account plus any applicable fee ("overdraft"), we may pay or return the overdraft. The credit union's determination of an insufficient available account balance may be made at any time between presentation and the credit union's midnight deadline with only one (1) review of the account required. We do not have to notify you if your account does not have sufficient available funds to pay an overdraft. Your account may be subject to a charge for each overdraft regardless of whether we pay or return the overdraft. Except as otherwise agreed in writing, if we exercise our right to use our discretion to pay an overdraft, we do not agree to pay overdrafts in the future and may discontinue covering overdrafts at any time without notice. If we pay an overdraft or impose a fee that overdraws your account, you agree to pay the overdrawn amount in accordance with your overdraft protection plan or, if you do not have such a plan, in accordance with our overdraft payment policy. • Order of Payments. Checks, drafts, items, and other transactions may not be processed in the order that you make them or in the order that we receive them. We may, at our discretion, pay a check, draft, or item and execute other transactions on your account in any order we choose. The order in which we process checks, drafts, and items and execute other transactions on your account may affect the total amount of overdraft fees that may be charged to your account. Please contact us if you have questions about how we pay checks or drafts and process transfers and withdrawals. Postdated and Stale-dated Drafts You agree not to issue any check or draft that is postdated. If you do issue a check or draft that is payable on a future date and we pay it before that date, you agree that we shall have no liability to you for such payment. You agree not to deposit checks, drafts, or other items before they are properly payable. We are not obligated to pay any check or draft drawn on your account that is presented more than six (6) months past its date. Stop Payment Orders • Stop Payment Order Request. Any owner may request a stop payment order on any check or draft drawn on the owner's account. To be binding the order must be in writing, dated, signed, and must accurately describe the check or draft, including the exact account number, check or draft number, and the exact amount of the check or draft. This exact information is necessary for the credit union to identify the check or draft. If we receive incorrect or incomplete information, we will not be responsible for failing to stop payment on the check or draft. In addition, we must receive sufficient advance notice of the stop payment order to allow us a reasonable opportunity to act on it. If we re-credit your account after paying a check or draft over a valid and timely stop payment order, you agree to sign a statement describing the dispute with the payee, to assign to us all of your rights against the payee or other holders of the check or draft, and to assist us in any legal action. • Duration of Order. Written stop payment orders are effective for six (6) months and may be renewed for additional six (6) month periods by requesting in writing that the stop payment order be renewed within a period during which the stop payment order is effective. We are not required to notify you when a stop payment order expires. • Liability. Fees for stop payment orders are set forth in the Schedule of Fees and Charges. You may not stop payment on any certified check, cashier's check, teller's check, or any other check, draft, or payment guaranteed by us. Although payment of an item may be stopped, you may remain liable to any item holder, including us. You agree to indemnify and hold the credit union harmless from all costs, including attorney's fees, damages, or claims related to our refusing payment of an item, including claims of any joint account owner, payee, or endorsee in failing to stop payment of an item as a result of incorrect information provided by you.

  • Bank Accounts; Cash Balances (a) Each Party agrees to take, or cause the members of its Group to take, at the Effective Time (or such earlier time as the Parties may agree), all actions necessary to amend all contracts or agreements governing each bank and brokerage account owned by SpinCo or any other member of the SpinCo Group (collectively, the “SpinCo Accounts”) and all contracts or agreements governing each bank or brokerage account owned by Parent or any other member of the Parent Group (collectively, the “Parent Accounts”) so that each such SpinCo Account and Parent Account, if currently linked (whether by automatic withdrawal, automatic deposit or any other authorization to transfer funds from or to) to any Parent Account or SpinCo Account, respectively, is de-linked from such Parent Account or SpinCo Account, respectively.

  • Cash Management Account Borrower hereby represents and warrants to Lender that:

  • Management Accounts The Management Accounts:

  • Deposit Account Payments Subsection (b) is amended to read as follows:

  • Returned Deposits Any credit to your account for checks deposited using Mobile Deposit is provisional. If original checks deposited through Mobile Deposit are dishonored, rejected, returned unpaid by the drawee bank, or are rejected or returned by a clearing agent or collecting bank, for any reason, including, but not limited to, issues relating to the quality of the image, you agree that an original check will not be returned to you and that we may charge back the amount of the original check and provide you with an image of the original check, a paper reproduction of the original check, or a substitute check. You will reimburse us for all loss, cost, damage or expense caused by, or relating to, the processing of the returned item. Without our approval, you shall not attempt to deposit or otherwise negotiate an original check if it has been charged back to you. We may debit any of your accounts to obtain payment for any item that has been rejected or returned, for any adjustment related to such item or for any warranty claim related to such item, whether or not the rejection, return, adjustment or warranty claim was made timely.

  • Cash Accounts, Deposits and Money Movements Subject to the terms and conditions set forth in this Section 7, the Fund hereby authorizes the Custodian to open and maintain, with itself or with Subcustodians, cash accounts in United States Dollars, in such other currencies as are the currencies of the countries in which the Fund maintains Investments or in such other currencies as the Fund shall from time to time request by Instruction.

  • Cash on Hand If it is determined that the cash on hand exceeds actual expenses, work in process, and thirty (30) day projected expenses, less payments not yet received; future payments will be withheld, until cash on hand has been reduced.

  • Overdrafts The Trust is responsible for maintaining an appropriate level of short term cash investments to accommodate cash outflows. The Trust may obtain a formal line of credit for potential overdrafts of its custody account. In the event of an overdraft or in the event the line of credit is insufficient to cover an overdraft, the overdraft amount or the overdraft amount that exceeds the line of credit will be charged in accordance with the fee schedule set forth on Exhibit C hereto (as amended from time to time)

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