Inclearing Items Sample Clauses

Inclearing Items. Not later than the opening of business on the day following the Closing Date, Seller shall advise the Federal Reserve Bank of Ohio that the account numbers associated with the Branches should be reassigned to Purchaser and shall further provide such other information necessary to expedite the clearing and sorting of all checks, drafts, instruments and other commercial paper relating to the Deposits (collectively referred to herein as the "Paper Items"). Purchaser shall bear all charges and costs imposed by the Federal Reserve in connection with reassignment of account number ranges for sorting the Paper Items. For a period of one hundred (180) days following the Closing Date (the "Inclearing Period"), in the event the Federal Reserve fails or refuses to direct sort such Paper Items for delivery to Purchaser with the result that such Paper Items are presented to Seller, Seller shall continue to process checks or drafts drawn on deposit accounts included within the Deposits that are not intercepted by the Federal Reserve. During the Inclearing Period, Seller shall by 3:00 p.m. Eastern Time transmit by facsimile or electronic transmission a list of each inclearing item equal to or greater than $2,500 setting forth the amount and the Seller account number of each item received by 12:00 p.m. by Seller for payment that day. Items received for processing after 12:00 p.m. will be listed separately and provided no later than 9:00 a.m. on the next business day. By 6:00 p.m. Eastern Time on each Business Day during the Inclearing Period, Seller shall make available to Purchaser all inclearing items received for payment on the prior Business Day. By 2:00 p.m. Eastern Time on the day following the receipt of the inclearing items, Purchaser shall reimburse Seller for the amount of the checks presented by wire transfer of immediately available funds. Upon expiration of the Inclearing Period, Seller shall cease honoring inclearing items presented against deposit accounts included within the Deposits and such items shall be returned marked "Refer to Maker."
Sample 1
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Inclearing Items. As of the opening of business on the Closing Date, Seller shall expedite the clearing and sorting of all checks, drafts, instruments and other commercial paper relative to the Deposit Accounts (hereinafter collectively referred to as the "Paper Items"). For a period of sixty (60) days following the Closing Date (the "Inclearing Period"), Seller shall continue to process checks or drafts drawn on Deposits which are not intercepted by the FRB. On each banking day during the Inclearing Period, Seller shall send to Purchaser by overnight mail all inclearing items received for payment that day. Upon expiration of the Inclearing Period, Seller shall cease honoring inclearing items presented against the Deposit Accounts and such items shall be returned marked "Refer to Maker". Seller and Purchaser shall settle amounts due under this Section 7.03 by wire transfer.
Sample 1Sample 2
Inclearing Items. As of the opening of business on the Closing Date, SELLER shall advise the Federal Reserve Bank of Cleveland that the account number ranges of the routing transit number associated with the Office should be reassigned to BUYER and shall further provide the information in order to expedite the clearing and sorting of all checks, drafts, instruments, and other commercial paper related to the Deposit Accounts.
Sample 1
Inclearing Items. As of the opening of business on the Closing Date, Seller shall expedite the clearing and sorting of all checks, drafts, instruments and other commercial paper relative to the Deposit Accounts (hereinafter collectively referred to as the "PAPER Items"). For a period of ninety (90) days following the Closing Date (the "INCLEARING PERIOD"), Seller shall continue to process checks or drafts drawn on Deposits which are not intercepted by the Federal Reserve Bank. On each banking day during the Inclearing Period, Seller shall send to Purchaser by same-day courier all inclearing items received for payment that day. Upon expiration of the Inclearing Period, Seller shall cease honoring inclearing items presented against the Deposit Accounts and such items shall be returned marked "Refer to Maker." Seller and Purchaser shall settle amounts due under this Section 7.03 by payment by wire transfer.
Sample 1
Inclearing Items. For a period of sixty (60) days following the Closing Date (the "Inclearing Period"), Home Savings shall continue to process all checks, drafts, instruments and other commercial paper relating to the Deposits (collectively referred to herein as the "Inclearing Items") drawn on deposit accounts included within the Deposits. During the Inclearing Period, Home Savings shall by 5:00 p.m. Pacific time transmit by facsimile or electronic transmission a list of each Inclearing Item equal to or greater than $10,000 setting forth the amount and the Home Savings account number of each item received by Home Savings for payment that day. By 1:00 p.m. Pacific time on each Business Day during the Inclearing Period, Home Savings shall make available to IBC all Inclearing Items received for payment on the prior Business Day. By 5:00 p.m. Pacific time on the day of the receipt of the Inclearing Items, IBC shall reimburse Home Savings for the amount of the Inclearing Items presented by wire transfer of immediately available funds. Upon expiration of the Inclearing Period, Home Savings shall cease honoring Inclearing Items presented against deposit accounts included within the Deposits and such items shall be returned marked "Refer to Maker". Following the Closing Date, if IBC receives any of Home Savings' bank or escrow checks, IBC shall outsort such items and forward them to Home Savings' Servicing Center in Irwindale (or such other location as Home Savings shall specify) by overnight mail for a period of one (1) year following the Closing Date. By 2:00 p.m. Pacific time on the day following receipt of the Inclearing Items, Home Savings shall reimburse IBC for the amount of such bank or escrow checks presented by wire transfer of immediately available funds. Home Savings shall determine whether to pay or reject such checks.
Sample 1

Related to Inclearing Items

  • Clearing Account If the Servicer finds it necessary to use a clearing account, the following guidelines must be followed:

  • Deposit Updates Unless otherwise provided by the license agreement, Depositor shall update the deposit materials within 60 days of each release of a new version of the product which is subject to the license agreement. Such updates will be added to the existing deposit. All deposit updates shall be listed on a new Exhibit B and the new Exhibit B shall be signed by Depositor. Each Exhibit B will be held and maintained separately within the escrow account. An independent record will be created which will document the activity for each Exhibit B. The processing of all deposit updates shall be in accordance with Sections 1.2 through 1.6 above. All references in this Agreement to the deposit materials shall include the initial deposit materials and any updates.

  • Prepaid Items All prepaid expenses relating to the Station.

  • Information Regarding Foreign Subcustodians Upon request of a Fund, the Custodian shall deliver, or cause any Approved Foreign Custody Manager to deliver, to the Fund a letter or list stating: (i) the identity of each Foreign Subcustodian then acting on behalf of the Custodian; (ii) the Eligible Securities Depositories (as defined in Section 5(f)) in each foreign market through which each Foreign Subcustodian is then holding cash, securities and other Assets of the Fund; and (iii) such other information as may be requested by the Fund to ensure compliance with rules and regulations under the 1940 Act.

  • Income Collection, Transaction Processing, Account Administration 0.25 of a basis point per annum on the average net assets of the Fund.

  • Certification Regarding Foreign Subcustodians Upon request of a Fund, the Custodian shall deliver to such Fund a certificate stating: (i) the identity of each Foreign Subcustodian then acting on behalf of the Custodian; (ii) the countries in which and the Securities Depositories and Clearing Agencies through which each such Foreign Subcustodian is then holding cash, Securities and other Assets of such Fund; and (iii) such other information as may be requested by such Fund, and as the Custodian shall be reasonably able to obtain, to evidence compliance with rules and regulations under the 1940 Act.

  • Clearing Status The Authorized Participant represents, covenants and warrants that, as of the date of execution of the Authorized Participant Agreement, and at all times during the term of the Authorized Participant Agreement, the Authorized Participant is and will be entitled to use the clearing and settlement services of each of the national or international clearing and settlement organizations through which, in compliance with the Procedures, the transactions contemplated hereby will clear and settle. Any change in the foregoing status of the Authorized Participant shall terminate the Authorized Participant Agreement and the Authorized Participant shall give prompt written notice thereof to the Trustee.

  • Deficit Capital Accounts No Member will be required to pay to the Company, to any other Member or to any third party any deficit balance that may exist from time to time in the Member’s Capital Account.

  • Excluded Items Notwithstanding anything in this Agreement to the contrary, Purchaser and Seller agree that each Acquired Companies Acquisition shall exclude those items listed on Schedule 7.12 to the applicable Acquired Companies Annex (in each case, the “Excluded Items”). Seller shall retain all benefits and liabilities with respect to the Excluded Items, and Seller shall, prior to the Closing Date, use Commercially Reasonable Efforts to cause the applicable Acquired Companies to distribute, transfer or assign, in each case effective as of or prior to the Closing, each Excluded Item to Seller or a non-Acquired Company Affiliate of Seller. Purchaser acknowledges that the inability of Seller to have any Excluded Item distributed, transferred or assigned, in each case effective as of or prior to the Closing, from any applicable Acquired Company for any reason shall not delay the applicable Closing, and any Excluded Item that Seller is unable to so distribute, transfer or assign by the applicable Closing shall be referred to as a “Non-Transferred Excluded Item.” After the applicable Closing Date with respect to each Non-Transferred Excluded Item, Purchaser shall, at Seller’s expense, use Commercially Reasonable Efforts to cause any Person under its control with knowledge of relevant facts pertaining to any Non-Transferred Excluded Item to provide assistance to Seller as reasonably requested by Seller to cause the transfer of each Non-Transferred Excluded Item following the applicable Closing Date to Seller or a non-Acquired Company Affiliate of Seller and, pending such transfer, to optimize the value of each Non-Transferred Excluded Item. If any payment is received by an applicable Acquired Company, or any other value is received by an applicable Acquired Company as a result of its ownership of a Non-Transferred Excluded Item following the applicable Closing Date, then Purchaser will cause the applicable Acquired Company to pay over such payment or an equivalent amount equal to such value received to Seller or a non-Acquired Company Affiliate of Seller.

  • Control Accounts; Approved Deposit Accounts Each Loan Party shall (i) deposit in an Approved Deposit Account all Cash it receives, (ii) not establish or maintain any Securities Account or Commodities Account that is not a Control Account and (iii) not establish or maintain any Deposit Account other than an Approved Deposit Account, provided however that notwithstanding the foregoing, each Loan Party may (w) maintain zero-balance accounts for the purpose of managing local disbursements and collections and may maintain payroll, withholding tax and other fiduciary accounts, (x) maintain accounts into which amounts are paid by a governmental entity pursuant to one or more Health Care Laws so long as the amounts on deposit therein are transferred each Business Day to an Approved Deposit Account or any other account permitted to be so utilized under this Section 5.14, (y) maintain other accounts as long as the aggregate monthly average daily balance over the immediately preceding 12-month period for all such Loan Parties in all such other accounts does not exceed $3,000,000 at any time and (z) make pledges or cash deposits permitted by Section 6.02.

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