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.
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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.

Related to Claims Imprest Account

  • Settlement Account 4.1 The Scheduling Coordinator shall maintain at all times an account with a bank capable of Fed-Wire transfer to which credits or debits shall be made in accordance with the billing and Settlement provisions of Section 11 of the CAISO Tariff. Such account shall be the account as notified by the Scheduling Coordinator to the CAISO from time to time by giving at least 20 days written notice before the new account becomes operational, together with all information necessary for the CAISO's processing of a change in that account.

  • 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:

  • Retirement Accounts With respect to certain retirement plans or accounts (such as individual retirement accounts (“IRAs”), SIMPLE IRAs, SEP IRAs, Xxxx IRAs, Education IRAs, and 403(b) Plans (such accounts, “Retirement Accounts”), the Transfer Agent, at the request and expense of the Fund, provide or arrange for the provision of various services to such plans and/or accounts, which services may include custodial agent services such as account set-up maintenance, and disbursements as well as such other services as the parties hereto shall mutually agree upon.

  • Disbursement Account 12.1 The Lender is obligated to keep the bank account information provided on the Platform up to date. The account shall be managed by a bank within the Single Euro Payment Area (hereinafter “SEPA”).

  • 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:

  • Permitted Withdrawals from the Collection Account The Servicer may, from time to time, withdraw funds from the Collection Account for the following purposes:

  • Trust Account Proceeds Prior to the liquidation of the Trust Account in the event the Company has not completed a Business Combination as required by its Charter Documents (the “Termination Date”), interest income on the funds held in the Trust Account may be released to the Company from the Trust Account in accordance with the terms of the Trust Agreement to pay any taxes incurred by the Company, all as more fully described in the Prospectus.

  • Capitalized Interest Account On the Closing Date, the Issuer shall deposit the Capitalized Interest Account Initial Deposit into the Capitalized Interest Account.

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