Core Account definition

Core Account means the primary WeLab Bank account opened with WeLab Bank Limited (“WeLab Bank”, “we”, “us” or “our”) and has the same meaning as used in the “Account Terms”.

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Core Account means the bookkeeping record maintained under the Plan reflecting the following amounts allocated under the Plan on behalf of certain Participants, adjusted for the net earnings or losses thereon:

Core Account means the primary WeLab Bank account opened with WeLab Bank Limited

Examples of Core Account in a sentence

• Different Core Account Investment Vehicles may have different rates of return and different terms and conditions, such as FDIC insurance or SIPC protection.

• Your Account statements will show all activity in your Account for the stated period, including securities transactions, cash and margin balances, credits and debits to your Core Account, and all fees paid directly from your Account.

• If you designate a Bank Deposit Sweep Program as your Core Account Investment Vehicle, cash balances in your Account will be automatically swept into one or more interest- bearing deposit accounts at our Affiliate, PNC Bank, N.A. (the “Bank”).

• If you do not select a Core Account Investment Vehicle, we or NFS may invest your credit balance in a money market fund, Bank Deposit Sweep Program or taxable interest-bearing credit account of our choice.

• In the event that we or NFS determine that the Bank Deposit Sweep Program is no longer an eligible Core Account Investment Vehicle, you authorize the withdrawal of your balance from the Bank Deposit Sweep Program and agree that such funds may be invested in a different Core Account Investment Vehicle at our sole discretion or that of NFS.

• We or NFS may not consider these differences if we must select a default Core Account Investment Vehicle for you.

• The available Core Account Investment Vehicle types are subject to change.

• By signing the Brokerage Account Application, you represent that you have read and understand this Brokerage Account Customer Agreement, and that you consent and authorize us and/or our Agent to change your Core Account Investment Vehicle at our discretion, upon thirty (30) days written notice and for any reason to another money market mutual fund, a free credit balance position, an FDIC-insured bank account or another cash investment vehicle, if necessary.

• You agree to hold us, NFS and/or our Agents harmless for any actions taken in connection with or resulting from changing your Core Account Investment Vehicle, including but not limited to, any action that may result in a change in the rate of return offered by the alternate Investment Vehicle that we and/or our Agent select for you.

• If the Core Account Investment Vehicle you designate on your Application becomes unavailable at any time for any reason, you authorize us to select an alternate Investment Vehicle at our discretion.