Common use of Program Deposits Clause in Contracts

Program Deposits. (a) Subject to the terms and conditions of this Agreement, and except as provided in Section 4.3(b), a Triggering Event for a Program Deposit will result in a transfer of funds to the Deposit Accounts at ICS Settlement the next Business Day (“Regular Program Deposit”). (b) Schedule 1 states whether, in ICS-Daily Rate, a transfer of funds to the Deposit Accounts at ICS Settlement on the same Business Day (“Same-Day Program Deposit”) is available and, if so, the cutoff time for you to request a Same-Day Program Deposit (“Same-Day Deposit Cutoff Time”). If Schedule 1 so states, a request that we receive and accept before the Same-Day Deposit Cutoff Time will be a Triggering Event, in ICS-Daily Rate, for a Same-Day Program Deposit. (c) We may impose a maximum Program Balance amount for deposits that we place for you through ICS and will inform you of any such amount we impose. Even if a Triggering Event for a Program Deposit occurs, we may choose not to transfer the amount to the Deposit Accounts if it would cause the Program Balance to exceed the maximum. In addition, we may choose not to transfer to the Deposit Accounts an amount that we have credited to the Root Account, but have not yet collected from a third party.

Program Deposits. (a) Subject to the terms and conditions of this Agreement, and except as provided in Section 4.3(b), a Triggering Event for a Program Deposit will result in a transfer of funds to the Deposit Accounts at ICS Settlement the next Business Day (“Regular Program Deposit”). (b) Schedule 1 states whether, in ICS-Daily Rate, a transfer of funds to the Deposit Accounts at ICS Settlement on the same Business Day (“Same-Day Program Deposit”) is available and, if so, the cutoff time for you to request a Same-Day Program Deposit (“Same-Day Deposit Cutoff Time”). If Schedule 1 so states, a request that we receive and accept before the Same-Day Deposit Cutoff Time will be a Triggering Event, in ICS-Daily Rate, for a Same-Day Program Deposit. (c) We may impose a maximum Program Balance amount for deposits that we place for you through ICS and will inform you of any such amount we impose. Even if a Triggering Event for a Program Deposit occurs, we may choose not to transfer the amount to the Deposit Accounts if it would cause the Program Balance to exceed the maximum. In addition, we may choose not to transfer to the Deposit Accounts an amount that we have credited to the Root Account, Account but have not yet collected from a third party.

Program Deposits. (a) The occurrence of a Triggering Event for a Program Deposit does not result in a transfer of funds to your Deposit Accounts until the applicable ICS Settlement occurs. (b) Subject to the other terms and conditions of this Agreement, and except as provided in Section 4.3(b4.3(c), a Triggering Event for a Program Deposit under Schedule 1 will result in a transfer of funds to the your Deposit Accounts at ICS Settlement the next Business Day (a “Regular Program Deposit”). (bc) Schedule 1 states whether, in ICS-Daily Rate, whether a transfer of funds to the your Deposit Accounts at ICS Settlement on the same Business Day (a “Same-Day Program Deposit”) is available and, if so, the cutoff time for you to request a Same-Day Program Deposit (the “Same-Day Deposit Cutoff Time”). If To the extent Schedule 1 so statesprovides, and subject to the other terms and conditions of this Agreement, a request that we receive and accept before the Same-Day Deposit Cutoff Time will be a Triggering Event, Event that results in ICS-Daily Rate, for a Same-Day Program Deposit. (cd) We may impose a maximum Program Balance amount for your deposits that we place for you placed through ICS and will inform you of any such amount maximum Program Balance we impose. Even if a Triggering Event for a Program Deposit occurs, we may choose not to transfer the amount to the your Deposit Accounts if to the extent it would cause the Program Balance to exceed the maximummaximum amount. In addition, we may choose not to transfer to the Deposit Accounts an amount that we have credited to the Root Transaction Account, but have not yet collected from a third party.

Program Deposits. (a) The occurrence of a Triggering Event for a Program Deposit does not result in a transfer of funds to your Deposit Accounts until the applicable ICS Settlement occurs. Schedule 2 to this Agreement contains important information regarding the status of funds in the Transaction Account. (b) Subject to the other terms and conditions of this Agreement, and except as provided in Section 4.3(b)the next subsection, a Triggering Event for a Program Deposit under Schedule 1 will result in a transfer of funds to the your Deposit Accounts at ICS Settlement the next Business Day (a “Regular Program Deposit”). (bc) Schedule 1 states whether, in ICS-Daily Rate, whether a transfer of funds to the your Deposit Accounts at ICS Settlement on the same Business Day (a “Same-Day Program Deposit”) is available and, if so, the cutoff time for you to request a Same-Day Program Deposit (the “Same-Day Deposit Cutoff Time”). If To the extent Schedule 1 so statesprovides, and subject to the other terms and conditions of this Agreement, a request that we receive and accept before the Same-Day Deposit Cutoff Time will be a Triggering Event, Event that results in ICS-Daily Rate, for a Same-Day Program Deposit. (cd) We may impose a maximum Program Balance amount for your deposits that we place for you placed through ICS and will inform you of any such amount maximum Program Balance we impose. Even if a Triggering Event for a Program Deposit occurs, we may choose not to transfer the amount to the your Deposit Accounts if to the extent it would cause the Program Balance to exceed the maximummaximum amount. In addition, we may choose not to transfer to the Deposit Accounts an amount that we have credited to the Root Transaction Account, but have not yet collected from a third party. (e) There is no per-month limit on the number of permitted Program Deposits.