Operation of the Account Sample Clauses

Operation of the Account. All transactions executed on my/our instructions on the floor of the Exchanges and/or over-the-counter shall be subject to a transaction levy, if applicable, and any other levies that Exchanges from time to time may impose. You are authorized to collect any such levies in accordance with the Rules prescribed by the Exchanges from time to time.
Operation of the Account. BRED shall hold the financial instruments and cash owned by the CLIENT and record transactions executed upon orders given by the CLIENT in such a way as to safeguard the CLIENT’s property.The Account is operated under instruction from the CLIENT or their authorised representative(s). BRED shall not interfere in the management of the securities.All transactions likely to be executed in connection with the operation of a financial instruments account can be recorded in the Account.When the Account’s operation is subject to special conditions, such conditions shall be stated in the Specific Conditions.BRED will perform day-to-day administrative tasks on behalf of the CLIENT or his representative, particularly the collection of income.
Operation of the Account. 2.1. For any transactions or account inquiry over the counter, customers are required to produce their National Identity Card or passport for identification purposes.2.2. All deposits and cash withdrawals at the Bank’s counter should be accompanied by the prescribed forms supplied by the Bank and shall be properly filled in.2.3. Clients may be required to provide the source of funds in case of a deposit or purpose of a cash withdrawal or outgoing funds. The Bank may also ask for and retain copies of evidences in such cases. The Banks reserves the right to decline a transaction if it is not satisfied with the information provided.In accordance with the Financial Intelligence and Anti-Money Laundering Act (FIAMLA)2002, the Bank will not accept any transaction in cash or by way of cheque which is neither crossed nor made payable to order, that exceeds Rs 500,000 (or the equivalent amount in foreign currency) unless such transactions qualify as ‘Exempt’ as defined by the FIAMLA.2.4. The customer is also informed that the Bank may pass information on its clients’ transactions to the competent authorities in circumstances where the laws would require regulated financial institutions to do so.2.5. The Bank shall not be liable for delays or errors in carrying out instructions which arise as a result of incorrect, incomplete, misleading or illegible information received from the client, including any misdirection resulting from incorrect, incomplete or contradictory details in transaction instructions.2.6. The Bank shall not process a transaction if it is not reasonably satisfied of the identity or authority of any customer requesting the transaction or the due diligence carried out on the proposed transaction.2.7. Fees and Charges payable on transactions effected in customer’s account, wherever applicable, shall be debited to the account.2.8. The customer or his representative shall carry out all transactions in conformity with the laws prevailing in Mauritius and the Bank’s internal policies.
Operation of the Account. Any debit from or credit to the Account shall be made by the DSRA Account Bank in accordance with its usual practice, this Agreement, and the relevant Account Mandate and, in the case of credits made in anticipation of the receipt of funds, subject to receipt of such immediately available funds. In the event that such funds are not received or payment is reversed, the DSRA Account Bank may debit the Account with an amount representing (a) funds which are not actually received for value at such later date or (b) the reversed payment.
Operation of the Account. Save in the event of express restrictions, the Customer’s account shall be operated by means of the signature or signatures deposited with the Bank in writing.
Operation of the Account. The Company, the Exective, and the ------------------------ Escrow Holder hereby agree that as of and after the date hereof the Account shall be operated free of any and all limitations imposed under the Escrow Agreement and any other related agreements, with the result that the Account will be maintained for the sole benefit of the Company and the Company will have the sole right to the Escrowed Funds, and any rights under the Escrow Agreement formerly held by the Executive in the Account and the Escrowed Funds shall terminate upon execution of this Termination Agreement.
Operation of the Account. The Debt Service Reserve Account shall be operated by the Account Manager (on behalf of the Company) in accordance with this Agreement. The Company undertakes to each of the Collateral Agent and the Account Manager that it (i) shall make payments into the Debt Service Reserve Account in accordance with the terms of this Agreement and the Indenture and (ii) it shall not provide any instruction to the Account Manager or the Account Bank to make payments out of the Debt Service Reserve Account except in accordance with this Agreement and the Indenture. Neither the Company nor the Account Manager shall change the name, account number or signing authority of the Debt Service Reserve Account, or the identity of the party in whose name such account is held, without the prior written consent of the Collateral Agent.
Operation of the Account 

Related to Operation of the Account

Administration of the Agreement The Agreement shall be administered by the Board of Directors of the Company or its delegate (the “Administrator”). Subject to the provisions of the Agreement, the Administrator shall have full and final authority in its discretion to take any action with respect to the Agreement including, without limitation, the authority to (i) determine all matters relating to the payments; (ii) establish, amend and rescind rules and regulations for the administration of the Agreement; and (iii) construe and interpret the Agreement, to interpret rules and regulations for administering the Agreement and to make all other determinations deemed necessary or advisable for administering the Agreement. Except to the extent otherwise required under Section 409A of the Internal Revenue Code of 1986, as amended (“Code”), the Administrator shall have the authority, in its sole discretion, to accelerate the date that any Consultation Payments or Separation Payments which were not otherwise vested or earned shall become vested or earned in whole or in part without any obligation to accelerate such date with respect to any other employee. The Administrator also may in its sole discretion determine that Executive’s rights or payments under the Agreement shall be subject to reduction, cancellation, forfeiture or recoupment due to conduct by Executive that is determined by the Administrator to be detrimental to the business or reputation of the Company, including, without limitation, upon termination of employment for cause; violation of policies of the Company; or breach of non-solicitation, noncompetition, confidentiality or other restrictive covenants that apply to the Executive. In addition to action by meeting in accordance with applicable laws, any action of the Administrator with respect to the Agreement may be taken by a written instrument signed by the Administrator (including, where the Board or a committee serves as the Administrator, by written consent signed by all of the members of the Board, or all of the members of a committee, and any such action so taken by written consent shall be as fully effective as if it had been taken by a majority of the members at a meeting duly held and called). No individual shall be liable while acting as Administrator for any action or determination made in good faith with respect to the Agreement, and any such individual shall be entitled to indemnification and reimbursement in the manner provided in the Company’s certificate of incorporation and bylaws and/or under applicable law.
Operation of the Business Except as contemplated by this Agreement or as expressly agreed to in writing by Acquiror, during the period from the date of this Agreement to the Closing Date, Acquiree will conduct its operations only in the ordinary course of business consistent with sound financial, operational and regulatory practice, and will take no action which would have a Material Adverse Effect on its ability to consummate the Transactions. Without limiting the generality of the foregoing, except as otherwise expressly provided in this Agreement or related Schedules, prior to the Closing Date, Acquiree will not, and Shareholders shall not cause or permit Acquiree to, without the prior written consent of Acquiror:
Possession of the Apartmentplot 1.1. Schedule for possession of the said Apartment – The Promoter agrees and un- derstands that timely delivery of possession of the Apartment to the allottee and the common areas to the association of allottees or the competent author- ity, as the case may be, is the essence of the Agreement. The Promoter assuresto hand over possession of the Apartment along with ready and complete common areas with all specifications, amenities and facilities of the Project in place on 20.06.2022 unless there is delay or failure due to war, floor, drought, fire, cyclone, earthquake or any other calamity caused by nature affecting the regular development of the real estate project (“Force Majeure”). If, however, the completion of the Project is delayed due to the Force Majeure condition then the Allottee agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Apartment.Provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Allottee agrees and confirms that, in the event it becomes impossible for the Promoter to imple- ment the project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter shall refund to the Allottee the entire amount received by the Promoter from the allotment within 45 days from that date. The Promoter shall intimate the Allottee about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee, the Allottee agrees that he/she shall not have any rights, claims etc. against the Promoter and that the Promoter shall be released and dis- charged from all its obligations and liabilities under this Agreement.1.2. Procedure for taking possession – The Promoter, upon obtaining the occu- pancy certificate* from the competent authority, shall offer in writing the pos- session of the Apartment, to the Allottee in terms of this Agreement to be tak- en within two months from the date of issue of occupancy certificate [Provid- ed that, in the absence of local law, the conveyance deed in favour of the Allot- tee shall be carried out by the Promoter within 3 months from the date of is- sue of occupancy certificate]. The Promoter agrees and undertakes to indem- nify the Allottee in case of failure of fulfillment of any of the provisions, for- malities, documentation on part of the Promoter. The Allottee, after taking possession, agree(s) to pay the maintenance charges as determined by thePromoter/association of allottees, as the case may be after the issuance of the completion certificate for the project. The promoter shall hand over the occu- pancy certificate of the apartment/plot, as the case may be, to the allottee at the time of conveyance of the same.1.3. Failure of Allottee to take Possession of Apartment – Upon receiving a written intimation from the Promoter as per para 7.2, the Allottee shall take possession of the Apartment from the Promoter by executing necessary in- demnities, undertakings and such other documentation as prescribed in this Agreement, and the Promoter shall give possession of the Apartment to the al- lottee. In case the Allottee fails to take possession within the time provided in para 7.2 such Allottee shall continue to be liable to pay maintenance charges as specified in para 7.2.1.4. Possession of the Allottee – After obtaining the occupancy certificate* and handing over physical possession of the Apartment to the Allottees, it shall be responsibility of the Promoter to hand over the necessary documents and plans, including common areas, to the association of Allottee or the competent authority, as the case may be, as per the local laws.[Provided that, in the absence of any local law, the Promoter shall hand over the necessary documents and plans, including common areas, to the associa- tion of Allottees or the competent authority, as the case may be, within thirty days after obtaining the completion certificate].1.5. Cancellation by Allottee: The Allottee shall have the right to can- cel/withdraw his allotment in the Project as provided in the Act.Provided that where the Allottee proposes to cancel/withdraw from the pro- ject without any fault of the Promoter, the Promoter herein is entitled to for- feit the booking amount paid for the allotment. The balance amount of mon- ey paid by the Allottee shall be returned by the Promoter to the Allottee within 45 days of such cancellation.1.6. Compensation: The Promoter shall compensate the Allottee in case of any loss caused by him due to defective title of the land, on which the project is be- ing developed or has been developed, in the manner as provided under the Act and the claim for interest and compensation under this provision shall not be barred by limitation provided under any law for the time being in force. Except for occurrence of a Force Majeure event, if the Promoter fails to com- plete or is unable to give possession of the Apartment (i) in accordance with the terms of this Agreement, duly completed by the date specified in para 7.1; or (ii) due to discontinuance of business as a developer on account of sus- pension or revocation of the registration under the Act, or for any other rea- son, the Promoter shall be liable, on demand to the allottees, in case the Al- lottee wishes to withdraw from the Project without prejudice to any other remedy available to return the total amount received by him in respect of the Apartment, with interest at the rate prescribed in the Rules including com- pensation in the manner as provided under the Act within forty-five days of it becoming due;Provided that where if the Allottee does not intend to withdraw from the Project, the Promoter shall pay the Allottee interest at the rate prescribed in the Rules for every month of delay, till the handing over of the possession of the Apartment which shall be paid by the Promoter to the Allottee within for- ty-five days of it becoming due.
Possession of the Apartment 6.1 Schedule for possession of the said Apartment– The Promoter agrees and understands that timely delivery of possession of the Apartment to the Allottee and the common areas to the Maintenance Society or the competent authority, as the case may be, is the essence of the Agreement. The Promoter assures to handover possession of the Apartment along with ready and complete common areas with all specifications, amenities and facilities of the Project in place on , unless there is delay or failure due to war, flood, drought, fire, cyclone earthquake or any other calamity caused by nature affecting the regular development of the real estate project (“Force Majeure”). If, however, the completion of Project is delayed due to the Force Majeure conditions then the Allottee(s) agrees that the Promoter shall be entitled to the extension of time for delivery of possession of the Apartment, provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Allottee(s) agrees and confirms that, in the event it becomes impossible for the Promoter to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the Promoter shall refund to the Allottee(s) the entire amount received by the Promoter from the Allottee(s) with interest within forty-five days from that date. The Promoter shall intimate the Allottee(s) about such termination at least thirty days prior to such termination. After refund of the money paid by the Allottee(s), the Allottee(s) agreed that he/ she shall not have any rights, claims etc. against the Promoter and the Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. 6.2 Procedure For Taking Possession- The Promoter, upon obtaining the occupancy certificate from the competent authority shall offer in writing the possession of the Apartment, to the Allottee(s) in terms of this Agreement to be taken within 2 (two) months from the date of issue of occupancy certificate. Provided that, in the absence of local law, the conveyance deed in favor of the Allottee(s) shall be carried out by the Promoter within three months from the date of issue of occupancy certificate. The Promoter agrees and undertakes to indemnify the Allottee(s) in case of failure of fulfillment of any of the provisions,formalities, documentation on part of the Promoter. The Allottee(s), after taking possession, agree(s) to pay the maintenance charges as determined by the Promoter/ Maintenance Society, as the case may be, after the issuance of completion certificate for the Project. The Promoter shall handover the occupancy certificate of the Apartment, as the case may be, to the Allottee(s) at the time of conveyance of the same. 6.3 Failure of Allottee(s) to take possession of Apartment-Upon receiving a written intimation from the Promoter as per Term No. 6.2 above, the Allottee(s) shall take possession of the Apartment from the Promoter by executing necessary indemnities, undertakings and such other documentation as prescribed in this Agreement and the Promoter shall give possession of the Apartment to the Allottee. In case the Allottee fails to take possession within the time provided as per Term No. 6.2 above, such Allottee(s) shall continue to be liable to pay maintenance charges & all requisite taxes as specified under Term No.6.2 above. 6.4 Possession of the Allottee(s)- After obtaining the occupancy certificate and handing over physical possession of the Apartment to the Allottee(s), it shall be the responsibility of the Promoter to handover the necessary documents and plan, including common areas to the Maintenance Society or the competent authority, as the case may be, as per the local laws: Provided that, in the absence of any local law, the Promoter shall handover the necessary documents and plans, including common areas, to the Maintenance Society or the competent authority, as the case may be, within thirty days after obtaining the completion certificate. 6.5 Cancellation by Allottee(s)- The Allottee(s) shall have the right to cancel/withdraw his allotment in the Project as provided in the Act: Provided that where the Allottee(s) proposes to cancel/withdraw from the Project without any fault of the Promoter, the Promoter herein is entitled to forfeit the booking amount paid besides any interest due and if any taxes paid on the installments received or due on behalf of the Allottee(s). The balance amount of money paid by the Allottee(s) shall be returned by the Promoter to the Allottee(s) within forty-five days of such cancellation. 6.6 Compensation – The Promoter shall compensate the Allottee(s) in case of any loss, caused to him due to defective title of the land, on which the Project is being developed or has been developed, in the manner as provided under the Act and the claim for the interest and compensation under this provision shall not be barred by limitation provided under any law for the time being in force. Except for occurrence of a Force Majeure event, if the Promoter fails to complete or is unable to give possession of the said Apartment (i) in accordance with the terms of this Agreement, duly completed by the day specified in Term No.7.1 above; or (ii) due to discontinuance of his business as a developer on account of suspension or revocation or expiry of the registration under the provisions of the Act; or for any other reason; the Promoter shall be liable, on demand to the Allottee, in case the Allottee wishes to withdraw from the Project, without prejudice to any other remedy available, to return the total amount received by him in respect of the Apartment, with interest including compensation in the manner as provided under the Act within forty-five days of it becoming due: Provided that where if the Alloottee(s) does not intent to withdraw from the Project the Promoter shall pay the Allottee(s) interest for every month of delay, till the handing over of the possession of the Apartment, which shall be paid by the Promoter to the Allottee(s) within forty-five days of it becoming due.
Operation of the Property Between June 1, 1998 and the Closing Date, Seller shall (a) lease, operate, manage and enter into contracts with respect to the Property, in the same manner done by Seller prior to the date hereof (provided, however, that without the prior consent of Purchaser, which as to (i) and (ii) shall not be unreasonably delayed, conditioned or withheld, (i) Seller shall not enter into any Service Contract that cannot be terminated with thirty (30) days notice or materially modify any existing Service Contracts to be assumed by Purchaser at Closing, and (ii) after June 1, 1998, Seller shall not materially modify or terminate any existing Tenant Lease or grant any material consents under any existing Tenant Lease (except as otherwise required pursuant to the terms and conditions of such Tenant Lease), or enter into any new Tenant Lease, and (iii) Seller shall not apply any then unapplied Deposits (as reflected on the Rent Roll delivered by Seller to Purchaser pursuant to Schedule 5.3(vii) hereof) under Tenant Leases); and (b) advise Purchaser of the commencement of any litigation, condemnation or other judicial or administrative proceedings affecting the Property of which Seller has current actual knowledge. Notwithstanding anything to the contrary set forth in this Contract, Purchaser acknowledges that after June 1, 1998 and prior to Closing, Seller will enter into contracts for the completion of Tenant improvements under Tenant Leases entered into after June 1, 1998 pursuant to the terms of Section 12.1 hereof (collectively, the "Tenant Finish Contracts"). Purchaser and Seller agree that at Closing, Purchaser shall assume the obligations of Seller under all such Tenant Finish Contracts including, without limitation, the obligations to pay any costs and expenses charged with respect to construction of improvements in the space subject to such Tenant Leases. At Closing, Purchaser shall execute and deliver to the Seller an Assignment, Assumption and Indemnity Agreement in the form attached hereto as Exhibit H and made a part hereof for all purposes.
Compensation of the Adviser For all of the services to be rendered as provided in this Agreement, as of the last business day of each month, the Fund will pay you a fee at an annual rate of 1.00% of the average value of the daily net assets of the Fund. The average value of the daily net assets of the Fund shall be determined pursuant to the applicable provisions of the Agreement and Declaration of Trust or a resolution of the Board of Trustees, if required. If, pursuant to such provisions, the determination of net asset value of the Fund is suspended for any particular business day, then for the purposes of this paragraph, the value of the net assets of the Fund as last determined shall be deemed to be the value of the net assets as of the close of the business day, or as of such other time as the value of the Fund’s net assets may lawfully be determined, on that day. If the determination of the net asset value of the Fund has been suspended for a period including such month, your compensation payable at the end of such month shall be computed on the basis of the value of the net assets of the Fund as last determined (whether during or prior to such month).
COMPENSATION OF THE MANAGER BY FUND For all services to be rendered and payments made as provided in Sections 1, 2 and 4 hereof, the Fund will accrue daily and pay the Manager monthly, or at such other intervals as the Fund and Manager may agree, a fee based on the average of the values placed on the net assets of each Series of the Fund as of the time of determination of the net asset value on each trading day throughout the month in accordance with Schedule 1 attached hereto. Net asset value shall be determined pursuant to applicable provisions of the Articles of Incorporation of the Fund. If pursuant to such provisions the determination of net asset value is suspended, then for the purposes of this Section 5 the value of the net assets of the Fund as last determined shall be deemed to be the value of the net assets for each day the suspension continues. The Manager may, at its option, waive all or part of its compensation for such period of time as it deems necessary or appropriate.
Application of the Agreement This Agreement shall apply to all investments, made by investors from one of the Contracting Parties in the territory of the other Contracting Party in accordance with the respective legal provisions, prior to as well as after its entry into force, but shall not apply to any dispute concerning investments which have arisen before its entry into force.
Administration of the Trust a) The Trustee shall administer the Trust Property for the benefit of the Unitholders. In engaging in such activities, the Trustee shall follow or cause to be followed collection procedures in accordance with the terms of the Trust Agreement, the Underlying Securities, the Swap Agreement, the indemnification offered by the Depositor pursuant to Section 10.05(b) and the Guarantee. The duties of the Trustee shall be performed in accordance with applicable local, State and Federal law. (b) Subject to Article X, the Trustee is hereby authorized to perform, and from time to time hereafter, shall perform only those acts which are described in the Trust Agreement as obligations of the Trustee. Notwithstanding the generality of the foregoing, the Trustee is hereby specifically authorized to do the following on behalf of the Trust: to issue the Certificates evidencing Units; to execute and deliver and perform its obligations and exercise its rights under the Swap Agreement; to establish and maintain the Unit Account hereunder; to accept delivery of the Underlying Securities and the Swap Agreement; to pledge the assets of the Trust (including the Underlying Securities) to secure the obligations of the Trust including obligations under the Swap Agreement; to sell the Underlying Securities through the Selling Agent in accordance with Section 9.05; to make Permitted Investments pursuant to Section 3.06; to liquidate the Trust pursuant to Article IX and to make distributions pursuant to Article IV. (c) Notwithstanding anything to the contrary herein, the Trust shall not engage in any business or activities other than receiving the Underlying Securities and any Credit Support or other Trust Property and entering into the Swap Agreement as provided herein, holding the Underlying Securities, the Swap Agreement and any Credit Support (or other Trust Property), issuing Certificates evidencing Units, making Permitted Investments in accordance with Section 3.06 and performing its obligations hereunder and under the Swap Agreement; provided, however, that during its existence the Trust shall not engage in any business or activity which will cause it to be or become an open-end investment company, unit investment trust or face-amount certificate company that is or is required to be registered under Section 8 of the Investment Company Act, or to be or become a closed-end investment company required to be registered, but not registered, under the Investment Company Act. (d) The Trustee shall not sell, assign, pledge or otherwise transfer the Underlying Securities, the Swap Agreement, any Credit Support or other Trust Property, or any interest of the Trust therein, to any Person or Persons, except to a successor trustee as provided in Section 10.07, through the Selling Agent in accordance with Section 9.05, in accordance with Section 10.02(a)(x), as required under any Swap Agreement or as otherwise expressly permitted hereunder. This section shall not be construed to prohibit transfers of the Units. (e) The Trustee shall have the legal power to exercise all of the rights, powers and privileges of holders of the Underlying Securities in which the Units evidence an interest; provided, however, that the exercise of such powers shall be subject to the provisions of this Section 3.02, Article X and the other provisions hereof. However, neither the Trustee (except as specifically provided herein or in the TIA) nor the Depositor shall be under any obligation whatsoever to appear in, prosecute or defend any action, suit or other proceeding in respect of Underlying Securities or Units. (f) Except for actions expressly authorized by the Trust Agreement, the Trustee shall not take actions reasonably likely to (nor fail to take actions, if such failure would be reasonably likely to) (i) impair the interests of the Trust in any Underlying Security, any Credit Support, the Swap Agreement or the Guarantee (or any other Trust Property); (ii) impair the value of any Underlying Security, any Credit Support, the Swap Agreement or the Guarantee (or any other Trust Property); or (iii) alter the classification of a Trust for U.S. federal income tax purposes. (g) Except as expressly provided in the Trust Agreement, the Trustee shall have no power to vary the corpus of the Trust Property including by (i) accepting any substitute obligation or asset for a Underlying Security or any Credit Support, (ii) entering into any amendment or modification of the Swap Agreement or the Underlying Securities, (iii) accepting any substitute guarantee for the Guarantee, (iv) adding any other investment, obligation or security to the Trust Property, (v) withdrawing from the Trust Property any Underlying Securities or Credit Support, (vi) terminating the Swap Agreement except in accordance with its terms or (vii) rejecting or otherwise failing to accept the continuing benefits of the Guarantee.
Administration of the Trust Fund Section 4.01. Collection Account.