Keeping of Funds Sample Clauses

Keeping of Funds. 4. The Impound Agent will keep the Impound Funds, segregated in the Impound Account, for investment purposes, until the Impound Agent releases the Impound Funds to the Company or returns them to the subscribers under paragraph 7 or 8, below.
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Keeping of Funds. The Impound Agent will keep the Impound Funds, segregated in the Impound Account, for investment purposes, until the Impound Agent releases the Impound Funds to the Company or returns them to the subscribers under paragraph 7 or 8, below. Unless the Administrator directs to the contrary, the Impound Agent will invest the funds deposited in the Impound Account as directed by the Company in liquid investments, such as bank certificates of deposit or United States treasury bills, or savings accounts at the Impound Agent. Impound Funds are not assets of the Company and are not subject to judgment or creditors claims against the Company until the Impound Funds are released to the Issuer under this Agreement. Release or Return of Funds If, by the _______ day of ________, ____ (the “Closing Date”), the funds deposited in the Impound Account amount to or exceed $ _______________ (the “Minimum Subscription”), then the Impound Agent will release those funds, and all other funds deposited after that, to the Company provided that the Impound Agent has provided the Administrator with a letter stating that $______ has been deposited into the Impound Account before the Closing Date, and the Administrator has provided the Impound Agent and the Company with written consent to the release of the funds from the Impound Agreement. Unless the Closing Date has been extended under paragraph 10, if, by the Closing Date, the funds deposited in the Impound Account do not equal or exceed the Minimum Subscription, the Impound Agent will advise the Company and the Administrator in writing that it has not received the Minimum Subscription, and will return to each subscriber the amount the Impound Agent received on behalf of that subscriber. The Impound Agent will divide any interest earned on the Impound Account between the subscribers based on their subscription and pay that to them. Extension of Closing Date The Closing Date may be extended, provided that the Disclosure Document discloses that the offering could be extended for ____ days, and the Company has delivered to the Impound Agent and the Administrator a written notice of extension. Revocation or Suspension of Registration If, at any time before the Impound Agent releases the funds as provided in Paragraph 7 or 8 of this Agreement, the Administrator advises the Impound Agent that it has revoked or suspended the registration, the Administrator may direct the Impound Agent not to release the funds in the Impound Account until f...
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Keeping of Funds. 6.1 You must deposit the Funds in a bank account in the name of the Program Provider (not a personal bank account) and maintain a separate accounting ledger for the Program.
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Keeping of Funds. 5. The Escrow Agent will keep the Escrow Funds, segregated in the Escrow Account until the Escrow Agent releases the Escrow Funds to the Company or returns them to the Investors under paragraph 9, 10, or 11, below.
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Related to Keeping of Funds

  • Commingling of Funds So long as the Company is Servicer, any collections in respect of Contracts collected by the Company shall, prior to the deposit thereof in the Certificate Account, be held in bank accounts entitled substantially as follows: "[name of depository], as agent for U.S. Bank National Association as Trustee, other trustees, and Green Tree Financial Corporation, as their interests may appear."

  • Limitation of Funds In no case shall the Government’s financial liability exceed the amount obligated under this Agreement.

  • Segregation of Funds Contractor shall comply with federal requirements relating to the required segregation of funds received for abortion services in accordance with the Affordable Care Act Section 1303 and 45 C.F.R. § 156.280.

  • Source of Funds Each Purchaser severally represents that at least one of the following statements is an accurate representation as to each source of funds (a “Source”) to be used by such Purchaser to pay the purchase price of the Notes to be purchased by such Purchaser hereunder:

  • Safekeeping of Fund Assets The Custodian shall hold Investments delivered to it or Subcustodians for the Fund in accordance with the provisions of this Section. The Custodian shall not be responsible for (a) the safekeeping of Investments not delivered or that are not caused to be issued to it or its Subcustodians; or, (b) pre-existing faults or defects in Investments that are delivered to the Custodian or its Subcustodians. The Custodian is hereby authorized to hold with itself or a Subcustodian, and to record in one or more accounts, all Investments delivered to and accepted by the Custodian, any Subcustodian or their respective agents pursuant to an Instruction or in consequence of any corporate action or income event. The Custodian shall hold Investments for the account of the Fund and shall segregate Investments from assets belonging to the Custodian and shall cause its Subcustodians to segregate Investments from assets belonging to the Subcustodian in an account held for the Fund or in an account maintained by the Subcustodian generally for non-proprietary assets of the Custodian.

  • Collection of Funds Except as permitted under this Indenture, the Indenture Trustee may demand payment or delivery of, and will receive and collect, directly the funds and other property payable to or to be received by the Indenture Trustee under this Indenture and the Sale and Servicing Agreement. The Indenture Trustee will apply the funds and other property received by it, and will make deposits to, and distributions from, the Bank Accounts, under this Indenture and the Sale and Servicing Agreement.

  • Retention of Funds Contractor hereby authorizes City to deduct from any amount payable to Contractor (whether or not arising out of this Agreement) (i) any amounts the payment of which may be in dispute hereunder or which are necessary to compensate City for any losses, costs, liabilities, or damages suffered by City, and (ii) all amounts for which City may be liable to third parties, by reason of Contractor’s acts or omissions in performing or failing to perform Contractor’s obligation under this Agreement. In the event that any claim is made by a third party, the amount or validity of which is disputed by Contractor, or any indebtedness shall exist which shall appear to be the basis for a claim of lien, City may withhold from any payment due, without liability for interest because of such withholding, an amount sufficient to cover such claim. The failure of City to exercise such right to deduct or to withhold shall not, however, affect the obligations of the Contractor to insure, indemnify, and protect City as elsewhere provided herein.

  • Return of Funds Contractor will return any overpayments due to unearned funds or funds disallowed pursuant to the terms of the Contract that were disbursed to the Contractor. The Contractor must return any overpayment within forty (40) calendar days after either discovery by the Contractor, its independent auditor, or notification by the Department or Customer of the overpayment.

  • Allocation of Funds AMO will allocate and transfer Funds on the basis of the formula determined by Ontario.

  • Investment of Funds NCPS will not commingle Escrow Funds received by it in escrow with funds of others and shall not invest such Escrow Funds. The Escrow Funds will be held in a non-interest bearing account.

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