Claims Imprest Account Sample Clauses

Claims Imprest Account. MBA shall create and operate a Claims Imprest Account to be funded by Company from premium/contract fees collected by MBA and received by Company. MBA shall use such funds to pay claims consistent with this Agreement. MBA shall serve as a fiduciary to such funds and shall not pay any fees or expenses out of such Claims Imprest Account. MBA shall make no transfer of any such funds except for the payment of claims. Company shall ensure that any such account balance shall be no less than an amount equal to two (2) months paid claims based on the most recent monthly average claim payment amount. All funds in such Claims Imprest Account shall be property of Company and Company shall be entitled to any interest earned thereon. Such funds contained in Claims Imprest Account shall not be subject to any levy or attachment by any creditors of MBA.
Sample 1
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Claims Imprest Account. A) The COMPANY will designate a checking account ("Imprest Account") at a bank, or other financial institution chosen by ADMINISTRATOR and approved by COMPANY for the purpose of issuing payment of losses for covered Claims made under Policies. The Imprest Account will be designated and titled so as to be identified as being for the exclusive use of paying covered Claims made under COMPANY's Policies. COMPANY will provide ADMINISTRATOR with the bank name, account name and account number of the Imprest Account. COMPANY will be obligated to fund the Imprest Account as may be necessary to provide for payment by ADMINISTRATOR of losses for covered Claims made under Policies. All interest earned on the Imprest Account will be the property of the COMPANY.
Sample 1

Related to Claims Imprest Account

  • Distributions from Collection Account Subject to Section 8.2(e), on each Payment Date the Indenture Trustee will (based on the information in the most recent Monthly Investor Report) withdraw from the Collection Account and make deposits and payments, to the extent of Available Funds in the Collection Account for that Payment Date, in the following order of priority (pro rata within each priority level based on the amounts due except as otherwise stated):

  • Set Up Accounts (a) Bank shall establish and maintain the following accounts ("Accounts"):

  • Settlement Account Money debited to the Capital Account in respect of the cost of purchases made on the Client's behalf and money received and receivable upon settlement of each sale made on the Client's behalf will be credited to this account and held there until the relevant settlement date.

  • Distributions from Certificate Account and Special Payments Account (a) On each Regular Distribution Date with respect to a series of Certificates or as soon thereafter as the Trustee has confirmed receipt of the payment of all or any part of the Scheduled Payments due on the Equipment Notes held (subject to the Intercreditor Agreement) in the related Trust on such date, the Trustee shall distribute out of the applicable Certificate Account the entire amount deposited therein pursuant to Section 4.01(a). There shall be so distributed to each Certificateholder of record of such series on the Record Date with respect to such Regular Distribution Date (other than as provided in Section 11.01 concerning the final distribution) by check mailed to such Certificateholder, at the address appearing in the Register, such Certificateholder’s pro rata share (based on the Fractional Undivided Interest in the Trust held by such Certificateholder) of the total amount in the applicable Certificate Account, except that, with respect to Certificates registered on the Record Date in the name of a Clearing Agency (or its nominee), such distribution shall be made by wire transfer in immediately available funds to the account designated by such Clearing Agency (or such nominee).

  • 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.

  • Permitted Withdrawals from the Collection Accounts and Certificate Account (a) Each Servicer may from time to time make withdrawals from the related Collection Account for the following purposes:

  • Withdrawals from the Collection Account and Distribution Account (a) The Servicer shall, from time to time, make withdrawals from the Collection Account for any of the following purposes or as described in Section 4.03:

  • Permitted Withdrawals from the Collection Account and Distribution Account (a) The Master Servicer may from time to time make withdrawals from the Collection Account for the following purposes:

  • Disbursement Account A trust account for the benefit of Owner, opened by Manager with an FDIC insured bank to pay for “Operating Expenses” as defined in Section 4.01(b).

  • Withdrawals from the Collection Account (a) The Servicer shall, from time to time, make withdrawals from the Collection Account for any of the following purposes or as described in Section 4.01:

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