Clearing Bank Account definition

Clearing Bank Account means a bank account opened for a Clearing House in Settlement Organization, which is intended to keep records of cash that may be used for the purposes of settling (secured) liabilities eligible for clearing or liabilities to pay fees to the Clearing House or other institutions under the Clearing Law.
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Examples of Clearing Bank Account in a sentence

  • Appendix B, Clearing Bank Account Deposit Item Count and Total Deposit Dollars: please provide a description of the deposits included in the column on the right side of the page (beginning with Jun-18, 60 deposits, $342,605.16 Amount of Deposits).

  • During the entire Operating Term, subject to and in compliance with the Cash Management Agreement, Manager shall promptly deposit during each Business Day all Gross Operating Revenue (in excess of the Xxxxx Cash Amount (as defined in the Indenture) retained at the Hotel) into the Clearing Bank Account, and transfer funds in the Clearing Bank Accounts at the end of each Business Day into the Lockbox Fund.

  • The Clearing Bank has the right to reserve execution of a payment order debiting the Clearing Bank Account of a selected Clearing House Member on the terms and in the manner specified in the Clearing Bank’s agreement with IRGiT.

  • A Clearing House Member is obligated to grant to the Clearing Bank a power of attorney to submit instructions of transfer of monies from the Clearing Bank Account to the Technical Bank Account in a given Clearing Bank in the amount specified by the Clearing House in the Payments Confirmation Report.

  • The Agreement shall incorporate Contractor’s fully executed State Certifications and Disclosure Forms, a copy of which is attached hereto as Appendix J.Appendix A CURRENT DEMAND DEPOSIT ACCOUNT STRUCTURE Clearing Account Child Support EFT Account Clearing Bank Account Deposit Item Count and Total Deposit Dollars Month# of Deposits$ Amt.

  • Lender assumes no responsibility for the Clearing Bank Account or its maintenance or operation, including, without limitation, any claim of accord and satisfaction or release with respect to deposits made by the Clearing Bank thereto.

  • The Clearing Bank has the right to preclude execution of a payment order debiting the Clearing Bank Account of a selected Clearing House Member on the principles and in the manner specified in an agreement between the Clearing Bank and IRGiT.

  • Each obligation of any party hereto, expressed in this Lease, even though not expressed as a covenant.

  • If as the result of the clearance and collection of all Accounts of Borrower through ACH and the direct payment of all funds credited to Borrower's Clearing Bank Account to Lender for application to the Obligations, all as provided in subsections 6.2.5 and 6.2.6 hereof, a credit balance exists in the Loan Account, such credit balance shall not accrue interest in favor of Borrower, but shall be available to Borrower at any time or times for so long as no Default or Event of Default exists.

  • The Clearing House shall charge fees for its clearing services, as well as fees payable to the Market Operator, to the Buyer without a Buyer's further instruction, by giving an order to debit the relevant amounts from the Clearing Bank Account and to transfer the same to the relevant Settlement Organization in accordance with the agreement with the Settlement Organization, no later than the Operational Day immediately next to the Operational Day on which the trade was made.

Related to Clearing Bank Account

  • Authorized Bank Account means any Officially Designated bank account to which redemption proceeds may be sent.

  • Clearing Account has the meaning set forth in Section 2.7.1 hereof.

  • Bank Account means one or more accounts opened, maintained and operated by the Portfolio Manager with any of the Scheduled Commercial Banks in accordance with the agreement entered into with the Client.

  • Clearing Bank means the Bank or any other banking institution with whom a Payment Account has been established pursuant to a Blocked Account Agreement.

  • Designated Bank Account means the relevant bank account designated by each Holder;

  • Client Bank Account means an account held in the name of the Client with a Bank and/or other institution and/or any electronic payment provider and/or a credit card processor; and/or an account held in the name of the Company on behalf of the Client with a Bank and/or other institution and/or any electronic payment provider and/or a credit card processor.

  • Seller’s Bank Account shall have the meaning set forth in Section 3.2(b).

  • Depository Account includes any commercial, checking, savings, time, or thrift account, or an account that is evidenced by a certificate of deposit, thrift certificate, investment certificate, certificate of indebtedness, or other similar instrument maintained by a Financial Institution in the ordinary course of a banking or similar business. A Depository Account also includes an amount held by an insurance company pursuant to a guaranteed investment contract or similar agreement to pay or credit interest thereon.

  • Clearing Account Agreement means that certain Clearing Account - Deposit Account Control Agreement dated the date hereof among Borrower, Lender and Clearing Bank, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time, relating to funds deposited in the Clearing Account.

  • Designated Depository Institution A depository institution (commercial bank, federal savings bank, mutual savings bank or savings and loan association) or trust company (which may include the Trustee), the deposits of which are fully insured by the FDIC to the extent provided by law.

  • Depository Institution Any depository institution or trust company, including the Trustee, that (a) is incorporated under the laws of the United States of America or any State thereof, (b) is subject to supervision and examination by federal or state banking authorities and (c) has outstanding unsecured commercial paper or other short-term unsecured debt obligations that are rated P-1 by Moody's, F1+ by Fitch and A-1 by Standard & Poor's.

  • Depository Accounts shall have the meaning set forth in Section 4.15(h) hereof.

  • Agency Account means any deposit account opened on the books of a Subcustodian or other banking institution in accordance with Section 7.1.

  • Bank Accounts means those account(s) opened and maintained for the Trust by the Trustee at Banks, the beneficial ownerships in which shall vest in the Unit Holder(s).

  • Deposit Account Bank means a financial institution selected or approved by the Administrative Agent.

  • Control Account means a Securities Account or Commodity Account that is the subject of an effective Securities Account Control Agreement and that is maintained by any Loan Party with an Approved Securities Intermediary. “Control Account” includes all Financial Assets held in a Securities Account or a Commodity Account and all certificates and instruments, if any, representing or evidencing the Financial Assets contained therein.

  • Deposit Account means a demand, time, savings, passbook or like account with a bank, savings and loan association, credit union or like organization, other than an account evidenced by a negotiable certificate of deposit.

  • Nominated Bank Account means MDL’s bank account as notified by MDL to the other Party from time to time.

  • Concentration Account has the meaning provided in Section 6.13(c).

  • Concentration Account Bank shall have the meaning assigned to such term in Section 9.01(e)(i).

  • Agency Account(s means any deposit account opened on the books of a Subcustodian or other banking institution in accordance with Section 7.1 hereof.

  • Depository Bank means the Institution that issues a specific Depositary Receipt on behalf of the underlying company. The Depository Bank maintains a holding of Stock in the Underlying on which it is able to issue Depositary Receipts;

  • Approved Deposit Account means a Deposit Account that is the subject of an effective Deposit Account Control Agreement and that is maintained by any Loan Party with a Deposit Account Bank. “Approved Deposit Account” includes all monies on deposit in a Deposit Account and all certificates and instruments, if any, representing or evidencing such Deposit Account.

  • Central Depository means Centrálny depozitár cenných papierov SR, a.s., with its registered seat at ul. 29. augusta 1/A, Bratislava 814 80, Slovak Republic, registered in the Commercial Register maintained by the District Court Bratislava I, Section: Sa, Insert No.: 493/B;

  • Foreign Depository means (a) Euroclear, (b) Clearstream Banking, societe anonyme, (c) each Eligible Securities Depository as defined in Rule 17f-7 under the Investment Company Act of 1940, as amended, identified to the Fund from time to time, and (d) the respective successors and nominees of the foregoing.

  • Designated Deposit Account is Borrower’s deposit account, account number , maintained with Bank.