Cash Sweep Program Clause Samples

A Cash Sweep Program is a financial arrangement that automatically transfers excess cash from a company's operating accounts to pay down outstanding debt or to invest in interest-bearing accounts. Typically, at the end of each business day, any funds exceeding a predetermined threshold are "swept" into a designated account, reducing loan balances or maximizing returns on idle cash. This mechanism helps companies efficiently manage liquidity, minimize interest expenses, and ensure that surplus funds are put to optimal use rather than sitting idle.
Cash Sweep Program. Under the Cash Sweep Program ("Sweep Program"), cash balances in your Advantage Account are automatically swept into your selected sweep option. The Sweep Program is described more fully in the Cash Sweep Program Disclosure Statement, which you will receive with your General or Basic Brokerage Account Agreement and Disclosure. You should read this carefully. You authorize and direct us to automatically withdraw cash from your Advantage Account when needed to satisfy a debit balance or any other obligation to us in connection with your Advantage Account. If we fail to deposit balances according to this Advantage Agreement, our liability will be limited to the actual amount of the interest you would have earned had the balance been deposited into the Sweep Program.
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Cash Sweep Program. The Baird Cash Sweep Program is an Account service whereby Baird will deposit or invest (that is, “sweep”) uninvested cash balances (“free credit balances”) in Client’s Accounts in accordance with the terms of the Cash Sweep Program. A description of the Cash Sweep Program and the specific terms and conditions applicable thereto is contained in the document titled ▇▇▇▇▇▇ ▇. ▇▇▇▇▇ & Co. Incorporated Cash Sweep Program Disclosure which accompanies this Agreement. This document, as well as additional information regarding the Cash Sweep Program is also available at ▇▇▇.▇▇▇▇▇▇▇.▇▇▇/▇▇▇▇▇▇▇▇▇▇ or by contacting Client’s Baird Financial Advisor. By participating in the Cash Sweep Program, Client agrees to the terms and conditions applicable to the Program. Client understands and agrees that Baird may, in its sole discretion at any time, modify the Cash Sweep Program or the terms and conditions applicable thereto.
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Cash Sweep Program. Broker may offer Customers the ability to participate in a cash sweep program offered in coordination with Clearing Broker, whereby Customers will receive a certain annual percentage yield (“APY”) payment on cash holdings in their Customer Account(s) from Clearing Broker (the “Apex Interest”). The Apex Interest payment will be funded by Clearing Broker’s FDIC cash sweep program (the “Apex Cash Sweep Program”). The terms and conditions of the Apex Cash Sweep Program as well as the amount of Apex Interest is subject to change as disclosed to Customer from time to time, and pursuant to the Apex Cash Sweep Program’s terms and conditions available In addition to, but separate from any Apex Interest payment amount, Broker will also pay Customer an amount in connection with Customer’s participation in the Apex Cash Sweep Program (such amount, the “Titan Payment”), the terms of which are further detailed in the program’s terms and conditions. Customer must affirmatively elect to participate in the Apex Cash Sweep Program, and in so doing acknowledges and agrees that: (a) the Customer has read and understands the terms and conditions referenced above related to the Apex Cash Sweep Program, Apex Interest and the Titan Payment; (b) Broker and/or Clearing Broker may make changes to the Apex Cash Sweep Program or payment terms at any time, in their sole discretion and with or without notice to Customer; and (c) Broker has no obligation to make recommendations about, or changes to, the program that may or may not be beneficial to the Customer. Customer also acknowledges that Clearing Broker is associated with or utilizes an Insured Depository Institution (“IDI”) as such term is defined by the Federal Deposit Insurance Corporation (“FDIC”). To ensure FDIC pass-through insurance protection is maintained, Customer acknowledges that only the Apex Interest payment provided by Clearing Broker is provided by an IDI. The Titan Payment does not constitute interest, but rather is a separate payment made by Broker to Customer. Clearing Broker is not responsible for the Titan Payment and Customer participation in the Apex Cash Sweep Program does not entitle Customer to the Titan Payment. To avoid any confusion and maintain FDIC insurance protections, Customer acknowledges that (i) Clearing Broker is not responsible for the Titan Payment, (ii) participation in the Apex Cash Sweep Program does not entitle Customer to the Titan Payment, (ii) any payment contributed by Broker to Custom...
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Cash Sweep Program. We maintain a Cash Sweep Program that is intended for clients who want to earn interest and receive FDIC insurance protection on their cash over short periods of time while awaiting investment. We receive compensation for the administrative, accounting and other services that we provide under the program. More detailed information about the Cash Sweep Program, the compensation we receive, and the terms and conditions, risks, fees and expenses, and conflicts of interest associated with the program is available on our website at www.rwbaird.com/cashsweeps. DR
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Cash Sweep Program. Under the Cash Sweep Program (the "Sweep Program"), uninvested cash balances in your Account - for which no interest is otherwise earned or paid - are automatically swept into interest- bearing deposit accounts or, if available, money market mutual funds or such other sweep arrangements made available to you (collectively "Cash Sweep Vehicles"), until these balances are invested by you or otherwise needed to satisfy obligations arising in connection with your Account. You authorize and direct us to invest or deposit free credit balances, including dividends, interest, or other cash we receive for your Account, in your Cash Sweep Vehicle within a reasonable time after receipt. The Sweep Program is described more fully in the Cash Sweep Program Disclosure Statement, included herewith. You should read this carefully.
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Cash Sweep Program. The funds initially placed in your Account will be invested in the stable value fund described unless and until you direct Millennium Trust otherwise. Any uninvested cash subsequently received in the Account (resulting from the sale of an account asset, an additional contribution or otherwise) will be invested in one or more FDIC-insured, interest-bearing, demand accounts at banks not affiliated with Inspira Financial, which we refer to as the Cash Sweep Program. Net interest is credited to the Account on a monthly basis based on the average cash balance held by the Account in the Cash Sweep Program for that month. The crediting rate is reviewed and revised periodically by Inspira Financial and will exceed the national average of interest rates paid by FDIC-insured depository institutions on savings or similar accounts for the applicable period, as published by the FDIC. You may obtain the current crediting rate by contacting Inspira Financial. For more information on the Cash Sweep Program, including compensation earned by Inspira Financial in connection with the program, see “Cash Sweep Program, Uninvested Funds, Compensation” in your custodial agreement.
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Cash Sweep Program 
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Related to Cash Sweep Program

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  • Emergency Mode Operation Plan Contractor must establish a documented plan to enable continuation of critical business processes and protection of the security of electronic County PHI or PI in the event of an emergency. Emergency means any circumstance or situation that causes normal computer operations to become unavailable for use in performing the work required under this Agreement for more than twenty-four (24) hours.

  • Program Budget A) Contractor will expend funds received for operation of its program and services according to Contractor’s annual operating budget. The portions of said budget, which reflect services performed or money paid to Contractor pursuant to this Agreement shall be subject to the approval of the Human Services Agency. B) In the event Contractor determines a reasonable business necessity to transfer funding between personnel and operating expenses specified in the budget submitted to the Human Services Agency the following will apply: 1. Contractor will notify the Human Services Agency of transfers that in the aggregate are between ten percent (10%) and twenty percent (20%) of the maximum contract amount.

  • Project Cost Overruns In the event that the Recipient determines that the moneys granted pursuant to Section II hereof, together with the Local Subdivision Contribution, are insufficient to pay in full the costs of the Project, the Recipient may make a request for supplemental assistance to its District Committee. The Recipient must demonstrate that such funding is necessary for the completion of the Project and the cost overrun was the result of circumstances beyond the Recipient's control, that it could not have been avoided with the exercise of due care, and that such circumstances could not have been anticipated at the time of the Recipient's initial application. Should the District Committee approve such request the action shall be recorded in the District Committee's official meeting minutes and provided to the OPWC Director for the execution of an amendment to this Agreement.

  • Projected Operating Budget Furnish Agent, no later than thirty (30) days prior to the beginning of Borrower’s fiscal years commencing with fiscal year 2010, a month by month projected operating budget and cash flow of Borrower on a condolidated and consolidating basis for such fiscal year (including an income statement for each month and a balance sheet as at the end of the last month in each fiscal quarter), such projections to be accompanied by a certificate signed by the President or Chief Financial Officer of Borrower to the effect that such projections have been prepared on the basis of sound financial planning practice consistent with past budgets and financial statements and that such officer has no reason to question the reasonableness of any material assumptions on which such projections were prepared.