Overbalances Clause Samples

Overbalances. Notwithstanding anything herein to the contrary, to the extent that (a) a volume of Product in excess of the Maximum Cargo Volume is received into the Fungible Staging Tank(s) hereunder, (b) any volume of Product remains in any Fungible Staging Tank or otherwise at the Terminal after the Cargo has been loaded pursuant to the Agreement (including as a result of the underloading of a Vessel within the Load Volume Tolerance set forth in Section 4.2 above), and/or (c) any volume of Product remains in any Fungible Staging Tank or otherwise at the Terminal after the cancellation (or deemed cancellation) of the Cargo (such volumes of Product, as applicable, the “Holdover Balance”), then Enterprise shall return a volume of Product equal to such Holdover Balance to Customer’s account at the ECHO Terminal; provided, however, that to the extent that Customer does not have sufficient contractual rights for storage with respect to such Holdover Balance at the ECHO Terminal at such time, then Enterprise shall have the right to sell, vacate or otherwise dispose of such Product in any commercially reasonable manner and, in which event, (i) Enterprise will be entitled to deduct all amounts due and payable by Customer to Enterprise under the Agreement from the proceeds received from such sale, (ii) all direct costs incurred by or on behalf of Enterprise in connection with any such sale (including transportation charges incurred in connection therewith) shall be for Customer’s account, and (iii) Enterprise will remit the net amount of the proceeds received from such sale, if any, to Customer.
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Related to Overbalances

  • Balances Borrower shall maintain its major depository accounts with Bank until the Note and all sums payable pursuant to this Agreement have been paid in full.

  • Imbalances The parties hereto recognize that with respect to Section 2.01, on any Day, receipts of gas by Union and deliveries of gas by Union may not always be exactly equal, but each party shall cooperate with the other in order to balance as nearly as possible the quantities transacted on a daily basis, and any imbalances arising shall be allocated to the Facilitating Agreements and shall be subject to the respective terms and charges contained therein, and shall be resolved in a timely manner.

  • Negative Balances If your Stripe Account balance (or the Stripe Account balance of any User Group Entity) is negative, or does not contain funds sufficient to pay amounts that you (or a User Group Entity) owe to Stripe, its Affiliates or Customers, then without limiting Stripe’s rights under Sections 4.2 and 4.3 of the General Terms, Stripe may debit the User Bank Accounts by the amount necessary to collect, and pay out to Customers if applicable, the amounts you owe.

  • Cash Balances Uninvested cash balances in my Account will be automatically swept into the ▇▇▇▇▇▇ ▇▇▇▇▇ Money Market Fund according to my previous elections and authorizations relating to the treatment of cash balances. I understand and agree that the ▇▇▇▇▇▇ ▇▇▇▇▇ Money Market Fund is offered by an ▇▇▇▇▇▇ ▇▇▇▇▇ affiliate and, as a result, ▇▇▇▇▇▇ ▇▇▇▇▇ has a financial incentive to select the ▇▇▇▇▇▇ ▇▇▇▇▇ Money Market Fund as the available cash option, instead of a third-party cash product.

  • Customer Accounts The Bank agrees to establish and maintain the following accounts (“Accounts”): (a) A custody account in the name of the Customer (“Custody Account”) for any and all stocks, shares, bonds, debentures, notes, mortgages or other obligations for the payment of money, bullion, coin and any certificates, receipts, warrants or other instruments representing rights to receive, purchase or subscribe for the same or evidencing or representing any other rights or interests therein and other similar property whether certificated or uncertificated as may be received by the Bank or its Subcustodian (as defined in Section 3) for the account of the Customer (“Securities”); and (b) A deposit account in the name of the Customer (“Deposit Account”) for any and all cash in any currency received by the Bank or its Subcustodian for the account of the Customer, which cash shall not be subject to withdrawal by draft or check. The Customer warrants its authority to: 1) deposit the cash and Securities (“Assets”) received in the Accounts and 2) give Instructions (as defined in Section 11) concerning the Accounts. The Bank may deliver securities of the same class in place of those deposited in the Custody Account. Upon written agreement between the Bank and the Customer, additional Accounts may be established and separately accounted for as additional Accounts under the terms of this Agreement.