Cleared definition
Examples of Cleared in a sentence
You must repay the amounts in full and your repayments must be paid as Cleared Funds.
If any return payment is returned to the Deposit Account Agent as undeliverable, Deposit Account Agent will immediately notify Intermediary and obtain updated return payment instructions from Intermediary, or (at the election of Intermediary) return such Subscriber’s Cleared Funds by check payable to the Subscriber and mailed to an address designated in the Offering report.
All such persons must check in with the school main office to receive a visitor’s identification at which time the individual must present a government issued photo identification which will be used to verify the individual’s name appears on the Certified Cleared Employee List.
Alternatively, at Distributor’s option, Distributor may cause the Shares purchased by such Cleared Customer to be redeemed by the relevant Fund.
In the event that any funds, including Cleared Funds, deposited in the Fund prove uncollectible after the funds represented thereby have been released by the Bank pursuant to this Bank Agreement, the Company shall reimburse the Bank upon request for the face amount of such check or checks; and the Bank shall, upon instruction from the Company, deliver the returned checks or other instruments to the Company.