Deposit Service Sample Clauses

Deposit Service. We will forward the Drafts you deposit with us for collection. You may only deposit Drafts that are properly payable to you and in a form and of a type approved by us. We may refuse any Draft in our sole discretion. Ordinarily, an Account is not given credit for a Draft until we receive finally collected funds for the item. If we provisionally credit your Account for any Draft, we may charge the amount back against your Account if we do not receive payment for any reason (or payment is reversed). You are responsible for ensuring that we are provided with the correct address for processing each Draft to ensure timely receipt and payment by the Draft’s payor. We will not be responsible for confirming or correcting addresses. Our sole responsibility with respect to any Draft is to exercise the ordinary care of a collecting bank in forwarding the Draft for collection and settling with you when final payment is received by us. We may discontinue providing this Service at any time upon notice to you.
Sample 1Sample 2Sample 3See All (4)
AutoNDA by SimpleDocs
Deposit Service. ‌ This Service (also known as remote deposit capture) enables you to convert original paper checks that are drawn on or payable through United States financial institutions into digitized images ("Images") and to electronically transmit the Images to us for deposit into one or more designated Accounts with us for collection thereafter by us. Images transmitted to us electronically for deposit are not deemed received until we accept the transmittal at our designated location. In connection with this Service, we grant you a non-exclusive, non- transferable, non-sublicensable, limited site license to use the E- Deposit Software, as such E-Deposit Software may be upgraded or modified from time to time by us, together with copies of all documentation relating thereto which we shall provide to you, for use solely at such location and on such computer equipment of yours as we shall agree. Our agreement respecting the computer, scanning equipment, or mobile device you use shall mean only that the equipment is compatible with the specifications for the E- Deposit Software. We are not responsible or liable for the actual operation of your scanning equipment, computer equipment, or mobile device, which is between you and its manufacturer or supplier. You may only use the E-Deposit Service for the purpose of transmitting to us at our designated location, the Images you intend to be deposited into your designated Account with us. Nothing herein shall grant to you any proprietary right to the E-Deposit Software, the E-Deposit Service or the related documentation. You shall not copy or alter the E-Deposit Software or documentation in any way. You shall not reverse engineer, reverse compile or disassemble the object codes, source codes or algorithms of the E- Deposit Software, or encumber the E-Deposit Software or transfer the E-Deposit Software, or any of your rights, to any other party. You also understand that we warrant that our E-Deposit Software as downloaded from the Internet by you is, at the time of download, free from any virus, malicious logic, worm, bug, error, defect or trap door, or similar disabling event that will adversely impact your computer and that it will materially conform to the description of its function and performance set forth in the written documentation we provide to you. However, our warranty will not apply in the event of equipment malfunction, use of the E-Deposit software on equipment not approved by us, your negligence, misuse or failur...
Sample 1Sample 2
Deposit Service. The Deposit Service allows customers to make deposits to eligible checking, savings or money market accounts with the Bank using a camera-enabled mobile device (each such deposit a “Mobile Deposit” and collectively “Mobile Deposits”). The mobile device must capture an image of the front and back of each check to be deposited, including the magnetic ink character recognition line on each check, the back of the check must be endorsed, and must provide such other information as required by the Mobile Deposit Agreement, the Terms and Conditions of Your Account (“Deposit Account Agreement”) as it relates to your checking, savings, or money market account with Bank, and applicable law.
Sample 1Sample 2
Deposit Service. Schedule 6.9(a) is a true, correct and complete --------------- --------------- listing of all of Borrower's Deposit Accounts. Borrower will not establish or open any other Deposit Account or other
Sample 1
Deposit Service. Prior to the entering into the 2022 Financial Services Agreement, the Group has placed money with COFCO Finance as deposits. The Board has considered and proposed the Proposed Deposit Cap in the amount equivalent of RMB900 million on a daily basis after considering the maximum daily outstanding balance of deposits (including accrued interest) placed by the Group with COFCO Finance, the deposit cap under the 2019 Financial Services Agreement of RMB900,000,000, which is equivalent to the Proposed Deposit Cap; and the historical deposit amounts during the term under the 2019 Financial Services Agreement as shown above which were near to the Proposed Deposit Cap. In order to ensure that the Proposed Deposit Cap will not be exceeded, the Group will adopt the following measures to monitor the daily balance of the deposits made by the Group:
Sample 1
Deposit Service. Schedule 6.9(a) is a true, correct and complete --------------- --------------- listing of all of Deposit Accounts. Borrower will not establish or open any other Deposit Account or other bank or lock box account without first notifying Agent and delivering to Agent a fully executed Deposit Control Agreement with the Deposit Bank or other bank where such account is located. Borrower has instructed each Deposit Bank (other than Union Bank of California, N.A.) to remit all receipts in such Deposit Account to Borrower's Deposit Account at Union Bank of California, N.A, at such time that monies received or accumulated in any Deposit Bank aggregate in excess of two million dollars ($2,000,000). If, notwithstanding such instructions, Borrower receives any proceeds of Accounts, it shall receive such payments as Agent's trustee, and shall immediately notify each Agent as to its receipt of such proceeds and shall deposit such payments into its Deposit Account at Union Bank of California, N.A.. All collections received in any Deposit Account or received directly by Borrower or Agent shall be subject to Agent's sole control; provided, however, that as long as (i) no Event of Default shall have occurred and be continuing, and (ii) no Agent Advance made pursuant to Section 2.3(b)(ii) is outstanding, Borrower may use all ------------------ moneys deposited in a Deposit Account to be used for Borrower's working capital needs and general corporate purposes; provided further, however, that immediately (A) upon the occurrence and during the continuance of any Event of Default, or (B) upon the making of any Agent Advance pursuant to Section ------- 2.3(b)(ii) hereof, until such Agent Advance is repaid by Borrower in full, Agent ---------- may and, upon the instruction of the Majority Lenders, shall, reassume sole control of such Deposit Account(s) and shall transfer all collections deposited in such Deposit Account(s) to Agent for application to the Obligations pursuant to Section 4.4 hereof. Agent may (and upon the instruction of the Majority ----------- Lenders, shall), at any time (y) following the occurrence and during the continuation of an Event of Default, or (z) following the making of any Agent Advance pursuant to Section 2.3(b)(ii) hereof until such Agent Advance is repaid ------------------ in full, notify the Account Debtors that the Accounts have been assigned to Agent and of Agent's security interest therein, and may (and upon the instruction of the Majority Len...
Sample 1
Deposit Service. When determining the interest rates for deposits to be placed by the Group with CSCF, the Company shall obtain the interest rate from CSCF, and make reference to the interest rates of the same type of deposits quoted by not less than three major commercial banks in the PRC (the “Reference Deposit Rate(s)”). The interest rate applicable to the Group for its deposits with CSCF shall be the higher of: (i) the highest Reference Deposit Rate; and (ii) the interest rate provided by CSCF.
Sample 1
AutoNDA by SimpleDocs
Deposit Service. 1. Party A shall, in accordance with the Agreement, deposit part of its temporarily idle working capital and proceeds of business into its account opened with Party B based on the principle of free access.
Sample 1

Related to Deposit Service

  • Mobile Deposit Security You will complete each deposit promptly. If you are unable to complete your deposit promptly, you will ensure that your mobile device remains securely in your possession until the deposit has been completed. It is your responsibility to establish and maintain procedures to safeguard against unauthorized deposits. You will notify us immediately by telephone with written confirmation if you learn of any loss or theft of original checks. You will ensure the safety and integrity of original checks from the time of receipt until the time of destruction. If warranted in our reasonable judgment, we may audit and monitor you, and you agree to cooperate with us to permit such monitoring, to confirm that you have satisfied your obligations under this Agreement.

  • Operating Account To the extent funds are not required to be placed in a lockbox pursuant to any Loan Documents, Property Manager shall deposit all rents and other funds collected from the operation of the Property in a reputable bank or financial institution in a special trust or depository account or accounts for the Property maintained by Property Manager for the benefit of the Company (such accounts, together with any interest earned thereon, shall collectively be referred to herein as the “Operating Account”). Property Manager shall maintain books and records of the funds deposited in and withdrawals from the Operating Account. With funds from Company, Property Manager shall maintain the Operating Account so that an amount at least as great as the budgeted expenses for such month is in the Operating Account as of the first of each month. From the Operating Account, Property Manager shall pay the operating expenses of the Property and any other payments relative to the Property as required by this Agreement. If more than one account is necessary to operate the Property, each account shall have a unique name, except to the extent any Lender requires sub-accounts within any account. Within three (3) months after receipt by Property Manager, all rents and other funds collected in the Operating Account, after payment of all operating expenses, debt service and such amounts as may be determined by the Property Manager to be retained for reserves or improvements, shall be paid to the Company.

  • Principal Depository Borrower shall maintain its principal depository and operating accounts with Bank.

  • Establishment of Custodial Account; Deposits in Custodial Account The Seller shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts (collectively, the “Custodial Account”), titled “PrimeLending, in trust for Redwood Residential Acquisition Corporation as Purchaser of Mortgage Loans and various Mortgagors.” Such Custodial Account shall be an Eligible Account established with a commercial bank, a savings bank or a savings and loan association (which may be a depository affiliate of the Seller) which meets the guidelines set forth by the FHFA, Fxxxxx Mxx or Fxxxxxx Mac as an eligible depository institution for custodial accounts. The Custodial Account shall not be transferred to any other depository institution without the Purchaser’s approval, which shall not unreasonably be withheld. In any case, the Custodial Account shall be insured by the FDIC in a manner which shall provide maximum available insurance thereunder and which may be drawn on by the Seller. The Seller shall deposit in the Custodial Account on a daily basis, and retain therein the following payments and collections received or made by it subsequent to the related Cut-off Date (other than in respect of principal and interest on the Mortgage Loans due on or before the related Cut-off Date):

  • Establishment of Custodial Accounts; Deposits in Custodial Accounts The Company shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts. The Custodial Account shall be an Eligible Account. Funds deposited in the Custodial Account, which shall be deposited within 24 hours of receipt, shall at all times be insured by the FDIC up to the FDIC insurance limits, or must be invested in Permitted Investments for the benefit of the Purchaser. Funds deposited in the Custodial Account may be drawn on by the Company in accordance with Section 4.05. The creation of any Custodial Account shall be evidenced by a letter agreement in the form shown in Exhibit B hereto. The original of such letter agreement shall be furnished to the Purchaser on the Closing Date, and upon the request of any subsequent Purchaser. The Company shall deposit in the Custodial Account on a daily basis, and retain therein the following payments and collections received or made by it subsequent to the Cut-off Date, or received by it prior to the Cut-off Date but allocable to a period subsequent thereto, other than in respect of principal and interest on the Mortgage Loans due on or before the Cut-off Date:

  • Processing of Deposit files The use of compression is recommended in order to reduce electronic data transfer times, and storage capacity requirements. Data encryption will be used to ensure the privacy of registry escrow data. Files processed for compression and encryption will be in the binary OpenPGP format as per OpenPGP Message Format -­‐ RFC 4880, see Part A, Section 9, reference 3 of this Specification. Acceptable algorithms for Public-­‐key cryptography, Symmetric-­‐key cryptography, Hash and Compression are those enumerated in XXX 0000, not marked as deprecated in OpenPGP IANA Registry, see Part A, Section 9, reference 4 of this Specification, that are also royalty-­‐free. The process to follow for the data file in original text format is:

  • Establishment of Escrow Account; Deposits in Escrow Account With respect to those Mortgage Loans on which the Servicer or any Sub-Servicer collects Escrow Payments, if any, the Servicer shall, and shall cause the Sub-Servicer to, segregate and hold all funds collected and received pursuant to each such Mortgage Loan which constitute Escrow Payments separate and apart from any of its own funds and general assets and shall establish and maintain one or more Escrow Accounts, in the form of trust accounts. Such Escrow Accounts shall be established with a commercial bank, a mutual savings bank or a savings and loan association the deposits of which are insured by the FDIC in a manner which shall provide maximum available insurance thereunder, and which may be drawn on by the Servicer. The Servicer shall give notice to the Trustee of the location of any Escrow Account, and of any change thereof, prior to the use thereof. Nothing in this paragraph shall be deemed to require the Servicer to collect Escrow Payments in the absence of a provision in the related Mortgage requiring such collection. The Servicer shall deposit, or cause to be deposited, in any Escrow Account or Accounts on a daily basis, and retain therein, (i) all Escrow Payments collected on account of any Mortgage Loans, for the purpose of effecting timely payment of any such items as required under the terms of this Agreement and (ii) all amounts representing proceeds of any hazard insurance policy which are to be applied to the restoration or repair of any Mortgaged Property. The Servicer shall make withdrawals therefrom only to effect such payments as are required under this Agreement, and for such other purposes as are set forth in Section 5.11. The Servicer shall be entitled to retain any interest paid on funds deposited in the Escrow Account by the depository institution other than interest on escrowed funds required by law to be paid to the related Mortgagor and, to the extent required by law, the Servicer shall pay interest on escrowed funds to the related Mortgagor notwithstanding that the Escrow Account is non-interest-bearing or that interest paid thereon is insufficient for such purposes.

  • Custodial Account Funds in any custodial accounts established by the Servicer and maintained in respect of the REMIC may be invested and, if invested, shall be invested in Eligible Investments selected by the Servicer which shall mature not later than the Business Day immediately preceding the next Remittance Date, and any such Eligible Investment shall not be sold or disposed of prior to its maturity. All such Eligible Investments shall be made in the name of the REMIC or its nominee. All income and gain realized from any such investment shall be, as long as the Servicer is servicing the Mortgage Loans held by the REMIC, for the benefit of the Servicer as additional compensation and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the relevant account by the Servicer out of its own funds immediately as realized. The foregoing requirements for deposit in such account are exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments of interest on funds in such account and, as long as the Servicer is servicing the Mortgage Loans held by the REMIC, payments in the nature of prepayment fees, late payment charges, assumption fees or any similar fees customarily associated with the servicing mortgage loans paid by any mortgagor need not be deposited by the Servicer in such account and may be retained by the Servicer as additional servicing compensation. If the Servicer deposits in such account any amount not required to be deposited therein, it may at any time withdraw such amount, any provision herein to the contrary notwithstanding.

  • Initial Deposits On the Closing Date and on each Addition Date thereafter, the Servicer will deposit (in immediately available funds) into the Collection Account all Collections received after the applicable Cut-Off Date and through and including the Closing Date or Addition Date, as the case may be, in respect of Eligible Assets being transferred to and included as part of the Collateral on such date.

  • Custodial Accounts It is agreed that all accounts opened under the Uniform Gift to Minors Act (UGMA), the Uniform Transfers to Minors Act (UTMA), or similar state statutes will be properly created and that all property so transferred will be done in compliance with such applicable statutes. There will be good faith reliance upon the instructions given, representations made and actions taken by a transferor or custodian. Further, the custodian represents and warrants that the assets in the account belong to the minor and that all such assets, whether or not transferred out of the UGMA or UTMA account, will only be used for the benefit of the minor.

Time is Money Join Law Insider Premium to draft better contracts faster.