Consignment Account Clause Samples

Consignment Account. (a) An account, or accounts (hereinafter, the "Consignment Account") may be opened on the books of the Bank, in which Consignment Account a record may be kept of all Deliveries made by the Bank to each Consignee under or pursuant to this Agreement and of all payments made by, or credits to, the Consignees thereon. (b) The Bank may also keep a record or records (either in the Consignment Account or elsewhere, as the-Bank may from time to time elect) of all fees, service charges, costs, expenses and other debits owed the Bank hereunder and of all credits against the amounts so owed. (c) All credits against each Consignee's liabilities to the Bank shall be conditional upon final payment to the Bank of the items giving rise to such credits, The amount of any item credited against such liabilities which is charged back against the Bank for any reason or is not so paid shall be added to the Consignment Account of such Consignee. (d) The Bank shall provide each Consignee with a monthly statement of the quantity of Consigned Precious Metal (in whatever form) held by such Consignee. If a Consignee does not agree with the information reported in the statement, such Consignee shall give notice of such disagreement to Bank within fifteen (15) days of the date of receipt of such statement. if a Consignee fails to give notice to Bank within such fifteen (15) day period, such Consignee shall be deemed to have affirmed the accuracy of the information reported in the statement and to have waived any claim such Consignee may have by reason of a dispute as to such statement.
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Related to Consignment Account

  • Concentration Account Concentration Account" has the meaning set forth in Section 2.3.

  • 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”). 12.2 Any transfers by the Borrower to an account held by the Lender within SEPA shall not be subject to any fees.

  • Segregated Account The Custodian shall, upon receipt of Proper Instructions, establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or investments, including investments maintained in an account by the Custodian pursuant to Section 2.10 hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered contract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or government investments in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by 1940 Act Release No. 10666, or any other procedures subsequently required under the 1940 Act relating to the maintenance of segregated accounts by registered investment companies, and (iv) for other purposes, but only, in the case of clause (iv) upon receipt of Proper Instructions specifying (a) the investments to be delivered, (b) setting forth the purpose for which such delivery is to be made, and (c) naming the person or persons to whom delivery of such investments shall be made.

  • Deposit Account If you are issued a secured Card, you have signed or will be required to sign a separate security agreement pledging a specific, non-withdrawable portion of your shares and/or deposits in BECU to secure your Card. The amount of the security for such a Card is the amount of your credit limit and you may not have any access to or control of that amount.

  • 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. (b) The Property Trustee shall deposit in the Payment Account, promptly upon receipt, all payments of principal of or interest on, and any other payments or proceeds with respect to, the Debentures. Amounts held in the Payment Account shall not be invested by the Property Trustee pending distribution thereof.