Sweep Accounts. For new accounts, if no selection of a money fund is made, your account will default to sweep cash balances to the Dreyfus General Money Market Fund. For existing accounts, please notify your Broker if you wish to sweep balances to the Dreyfus General Money Market Fund, the Bank Insured Deposit or other selection. The Bank Insured Deposit is a program administered by Xxxxx & Xxxx Insured Deposits (“RTIDs”), which involves a series of FDIC-insured bank accounts maintained at various participant banks, including Southwest Securities FSB, Dallas, Texas, an affiliate of SWST. A list of participant banks is available on our website (xxx.xxxx.xxx). Additions and changes to this list will also be posted on this website. If eligible, you may also select to direct those funds to certain selected money market fund accounts, or to an interest-bearing SIPC insured credit investment pending (CIP) account held at SWST. Please consult your broker, as certain types of accounts may not be eligible to invest in the Bank Insured Deposit. If your account is ineligible, it will be set to sweep to CIP or to a selected money market fund. It is important that you understand the unique nature, insurance coverage and risk associated with each type of account. SIPC coverage does not protect cash balances created and maintained solely for the purpose of earning interest, so funds in money market or CIP accounts must be intended for future reinvestment. SWST may temporarily suspend or discontinue the sweep arrangement, or change the timing or frequency of the sweep, anytime without advance notice to you. SWST may change your sweep account terms by giving you written notice. If SWST fails to sweep your uninvested funds in the manner described in the Customer Account Agreement, SWST’s liability is limited to the actual amount of the dividends or interest you would have earned had the sweep been performed. SWST may automatically sweep funds from your sweep account to your brokerage account anytime without advance notice to you to pay for securities transactions and withdrawal requests, satisfy a debit balance, settle any other obligation you owe SWST, pay your margin loan, provide necessary collateral in your margin account, or for any other permissible purposes. Should you wish to access these funds or information regarding the fund rates, contact your Broker or registered representative. With ongoing changes to the rates of return for the available sweep options, your personal financia...
Sweep Accounts. Any "sweep" account maintained by the sub-custodian or foreign sub-custodian on behalf of a Portfolio wherein available cash is automatically invested shall be deemed a part of the Account subject to the terms and provisions of this Agreement. Fund shall have the option of selecting the type of account into which the funds are to be swept and, if the available accounts are mutual funds, the particular mutual fund.
Sweep Accounts. The bank effects transactions as part of a program for the investment or reinvestment of deposit funds into any no-load, open-end management investment company registered under the Investment Company Act of 1940 that holds itself out as a money market fund.
Sweep Accounts. The Seller agrees that all cash automatically transferred from the Deposit Accounts by the Seller on the Business Day prior to the Closing Date into overnight sweep accounts shall be returned to the respective Deposit Accounts as of the Closing Date, together with any interest, or income accrued in connection with such arrangement.
Sweep Accounts. If you have established a line of credit with us, it is evidenced by loan documents. You authorize us to make transfers to and from an Account (the "Sweep Account") to be used to make draws on and payments on the line of credit. Interest earned on the deposits in the Sweep Account may not be the best or optimum investment for your excess cash, and may not be the highest rate of interest available through or offered by us.
Sweep Accounts. If you have established a line of credit with us, it is evidenced by loan documents. You authorize us to make transfers to and from an Account (the “Sweep Account”) to be used to make draws on and payments from the line of credit. Any interest earned on the deposits in the Sweep Account may not be the best or optimum investment for your excess cash and may not be the highest rate of interest offered by us. Wire Transfers Wire transfers can be processed through our Online Services using Wire Manager. If applicable, the Wire Transfer Agreement that you will need to execute will govern our Wire Manager transfer services. The Wire Manager service allows you to submit payment orders to us using templates, which will transfer funds by using any commercially reasonable funds transfer system. The transfer may be made in whole or in part through the automated payments network operated by the Federal Reserve System called Fedwire. You agree to inform us promptly in writing whenever there are deletions from or additions to the list of authorized persons or Accounts. Until we are in receipt of a new designation changing authorized persons or Accounts, we may continue to act pursuant to designations we have on file. You are solely responsible for maintaining the secrecy of any PINs provided to authorized persons and shall notify us immediately of any suspected theft or misplacement of the PINs. We may establish cut-off times on a Business Day for the receipt and processing of payment orders, cancellations or amendments. Any payment orders or communication canceling or amending a payment order received after the cut-off time may be treated as received at the opening of the next Business Day. The Wire Transfer service is subject to Reg J if all or any part of the funds transfer is made through Fedwire. This Wire Transfer service is also subject to our Deposit Account Rules and any other agreements between us governing or referring to the Account(s) or wire transfers.
Sweep Accounts. For so long as the Series A Indenture and/or the Series B Indenture so require, and subject to the terms thereof, (a) Company shall cause one or more Sweep Accounts to be maintained in accordance with the provisions thereof, (b) each Credit Party and each Restricted Subsidiary thereof shall deposit or cause to be deposited into such Sweep Accounts no less frequently than monthly Cash and Cash Equivalents in an amount equal to the Sweep Cash Amount, (c) after the end of each Fiscal Quarter, Company shall, within the Applicable Repayment Period, apply an amount equal to 100% of the Available Sweep Amount to repay the Loans pursuant to Section 2.9 and (d) without limiting the foregoing, after the end of each such Fiscal Quarter, Company shall use commercially reasonable efforts (taking into account other near-term obligations and other liquidity sources) to apply Excess Sweep Amounts at the end of each Applicable Repayment Period to repay the Loans pursuant to Section 2.9. Except as otherwise permitted by the terms of the Series A Indenture and the Series B Indenture, all amounts held in Sweep Accounts shall be at all times invested solely in Cash and Cash Equivalents. No Credit Party shall, nor shall it permit any of its Restricted Subsidiaries to, withdraw or seek to withdraw any amount from a Sweep Account except in accordance with the Series A Indenture and the Series B Indenture.
Sweep Accounts. The Member Business may establish the following Sweep Accounts for the transfer of funds between accounts. A business checking account (Checking Account) is the designated account for which funds will be transferred to and from a savings or loan account. Funds may be transferred into and from a savings or money-market account. Funds may be transferred into or from a business line of credit. Member Business will designate the savings or business line of credit for account transfers, which are referred to as a “Sweep Account”.
Sweep Accounts. Beginning on December 30, 2009, each Credit Party and each Restricted Subsidiary thereof shall deposit or cause to be deposited no less frequently than monthly (and not later than 30 days after the end of such month) Cash and Cash Equivalents in an amount equal to the Sweep Cash Amount (for the period of time elapsed since the end of the last period for which a Sweep Cash Amount has been deposited in accordance with this Section 5.14(d) or, in the case of the first such deposit, since December 1, 2009) in one or more Deposit Accounts or Securities Accounts which shall be either (at Collateral Agent’s election) maintained in the name of Collateral Agent or maintained in the name of a Subsidiary Borrower and subject to a Control Agreement providing that funds deposited in or financial assets credited to such Deposit Accounts or Securities Accounts may not be withdrawn or transferred from such Deposit Accounts or Securities Accounts without the prior consent of the Collateral Agent (collectively, the “Sweep Accounts” and, individually, each a “Sweep Account”). All amounts held in Sweep Accounts shall be at all times invested solely in Cash and Cash Equivalents. No Credit Party shall, nor shall it permit any of its Restricted Subsidiaries to, withdraw or seek to withdraw any amount from a Sweep Account, unless (i) such withdrawal is made directly to an account of the Administrative Agent for application to the then outstanding Obligations in accordance with the provisions of this Agreement, (ii) within two Business Days after receipt of the funds so withdrawn (not including the Business Day on which such funds were received if received after 12:00 noon, New York time), such amounts shall have been applied to make then Required Bank Investments after all Other Available Cash has been utilized for such purpose or (iii)(1) within two Business Days after receipt of the funds so withdrawn (not including the Business Day on which such funds were received if received after 12:00 noon, New York time), such amounts have been applied to (A) make payments with respect to TTF Requirements, (B) make Permitted Bank Investments, (C) pay scheduled payments on Qualified Debt Obligations, (D) fund Other Available Cash or (E) fund Business Reinvestments, (2) both before and after giving effect to such withdrawal, no Default or Event of Default has occurred and is continuing , and (3) both before and after giving effect thereto, Other Available Cash is not greater than $500 milli...
Sweep Accounts. GMB and MSB have offered or will offer the services of MSB to account holders of deposits subject to automatic sweep agreements (called by GMB "Custody Sweep Accounts" or "Mini-Custody Sweep Accounts") prior to the Effective Date. If the account holders accept MSB's services, MSB will enter into new sweep agreements with them. The $100,000,000 deposit limit in Section 1.03(a) of the Agreement shall not apply to such sweep account deposit balances. MSB shall pay to GMB a premium equal to 4.0% with respect to any sweep account balances in excess of the deposit target balances (minimum balances required to be maintained in the deposit accounts) calculated on the basis of the average daily amount of such balances for the period of time commencing on the first business day following the Effective Date and continuing through March 27, 1996. If any sweep account is closed prior to March 27, 1996, the balances of any such sweep account shall not be included in the calculation of the 4.0% premium. In addition, MSB shall pay to GMB a premium equal to 8.0% with respect to all PAGE 7 deposit balances less than or equal to the target balance of deposit accounts subject to automatic sweep agreements pursuant to Section 1.03(b) of the Agreement. If certain account holders do not accept MSB's services, their deposits will be transferred to MSB, and such deposits will be subject to the standard 8.0% premium provided in Section 1.03(b) of the Agreement.
