Collected Funds definition

Collected Funds means, with respect to any Collection Period, the amount of funds in the Collection Account representing collections on the Receivables during such Collection Period, including all Net Liquidation Proceeds collected during such Collection Period (but excluding any Purchase Amounts).

Collected Funds means all funds received by Escrow Agent which have cleared normal banking channels and are in the form of cash.

Collected Funds means (a) cash (currency); (b) wired funds when unconditionally received by the escrow agent; (c) when identified as such, (1) cashier’s check; (2) certified check; or (3) teller’s check (official check) when any of the above are unconditionally received by the escrow agent; (d) U.S. Treasury checks, postal money orders, federal reserve bank checks, federal home loan bank checks, State of Idaho and local government checks, local or Idaho on-us checks, or local third party checks on the next business day after deposit; (e) local personal or corporate checks on the second business day after deposit; and (f) non-local State and government checks, non-local on-us checks, non-local personal or corporate checks or non-local third party checks on the fifth business day after deposit. For purposes of this section a deposit is considered made on (1) the same day the item is delivered in person to an employee of a federally insured financial institution, or (2) the first business day following an after business hours deposit of an item to a federally insured financial institution. (7-1-93)

Examples of Collected Funds in a sentence

• Any such successor escrow agent shall deliver to the Company and the Dealer Manager a written instrument accepting such appointment, and thereupon shall succeed to all the rights and duties of the Escrow Agent hereunder and shall be entitled to receive the Collected Funds from the Escrow Agent.

• Agreed.b) Annual Review of Standing Orders and Financial Regulations: Members agreed to review the documents previously adopted in time for the next meeting.c) Allotments – annual review of allotment rents: To be reviewed at the next meeting.

• To the extent that the Escrow Agent becomes liable for the payment of any taxes in respect of income derived from the investment of funds held or payments made hereunder, the Escrow Agent shall satisfy such liability to the extent possible from the Collected Funds.

• Any interest received by the Escrow Agent with respect to the Collected Funds, including reinvested interest, shall become part of the proceeds of the Escrow Account (the “Escrow Income”), and shall be disbursed to the Company if Collected Funds, including interest earnings, total the Minimum Amount.

• For the avoidance of doubt, all interest or other taxable income earned on the Collected Funds in any tax year shall be taxable to the person or entity receiving the interest or other taxable income.

More Definitions of Collected Funds

Collected Funds. With respect to any Determination Date, the amount of funds in the Collection Account representing collections on the Receivables during the related Monthly Period, including all Liquidation Proceeds collected during the related Monthly Period (but excluding any Monthly Advances and any Purchase Amounts).

Collected Funds means funds which are immediately available to the Secured Parties, as the Lessor's assignees, for its use in New York, New York.

Collected Funds means any items, other than cash, accepted for deposit (including items drawn “on us”) will be given provisional credit until collection from the bank the item has been drawn on has been received by Bank of deposit. Bank shall have no liability to Company should the amount to be transferred exceed the Available Collected Funds.

Collected Funds means the positive balance, if any, of the Sweep Account, after settlement at the close of each Business Day. Cash Sweep‌ If Customer has elected to receive the Cash Sweep Service, each Business Day, after all transactions have been posted to Customer’s Sweep Account, Bank shall transfer Collected Funds in excess of the Target Balance, to Customer’s Deposit Account. If at the end of the Business Day, the balance in Customer’s Sweep Account is less than the Target Balance, Customer authorizes Bank to transfer funds from Customer’s Deposit Account to Customer’s Sweep Account in amount necessary to meet the Target Balance in the Sweep Account. Customer may not directly make deposits to or withdrawals from its Deposit Account. Customer may make withdrawals from Customer’s Sweep Account, in accordance with the Account Terms. Bank shall provide monthly account statements to Customer for both Customer’s Sweep Account and Customer’s Deposit Account. Loan Sweep‌

Collected Funds means all funds received by the Escrow Agent which have cleared normal banking channels. In all events, the Escrow Agent shall deliver not less than $6,000,000.00 in collected funds to the Bank, except as provided in Paragraph 3(b) hereof.

Collected Funds means all funds received by the Escrow Agent that have cleared normal banking channels and are in the form of cash or a cash equivalent. After such time the Escrow Account shall remain open and the Company shall continue to cause subscriptions for the Shares that are not to be deposited in either the Pennsylvania Escrow Account or the New York Escrow Account to be deposited therein until the Company informs the Escrow Agent in writing to close the Escrow Account, and thereafter any subscription documents and instruments of payment received by the Escrow Agent from Subscribers other than Pennsylvania Subscribers and New York Subscribers shall be forwarded directly to the Company.

Collected Funds. With respect to any Determination Date, the amount of funds in the Collection Account representing collections on the Receivables (including Liquidated Receivables and Purchased Receivables) during the related Monthly Period, including (i) all administrative fees, expenses and charges, late fees and other amounts paid by or on behalf of Obligors and (ii) all Liquidation Proceeds collected during the related Monthly Period (but excluding any Purchase Amounts).