Deposit Limit definition

Deposit Limit means an amount equal to three times the Initial Annual Deposit specified in the Contract Data after deducting Rider Premiums, if any. Repayments to this contract in accordance with the Withdrawal Privilege shall not be affected by the Deposit Limit.
View Source
Deposit Limit means the maximum dollar amount of a daily deposit of collected and uncollected Original Checks and Substitute Checks as determined from time to time by Bank and communicated to Customer.
View Source

Examples of Deposit Limit in a sentence

  • If we establish a Deposit Limit, you agree not to exceed the Deposit Limit.

  • Bank may place your funds without regard to whether such funds may exceed the Deposit Limit at one or more Program Banks, even if your funds could be placed in one or more Program Banks in an amount less than the Deposit Limit.

  • You will not be able to deposit more than the Weekly Deposit Limit.

  • We reserve the right to change the Deposit Limit and Cut-Off Time, in our sole discretion.

  • We may, at our option, set a daily dollar amount threshold (“Deposit Limit”), and may refuse to accept Checks that exceed the Deposit Limit, or we may accept and process the Checks, in our sole discretion.

  • The Bank List may include one or more Program Banks that constitute Excess Banks; we may deposit your funds at an Excess Bank without limit and without regard to Deposit Limit if funds sufficient to meet the Program Insurance Eligibility Limit have been placed at one or more Priority Banks.

  • Such modifications will be effective immediately and may be implemented prior to your receipt of the newly established Deposit Limit or Cut-Off Time.

  • Once funds equal to the Deposit Limit have been deposited for you through the Program in each available Bank on the Priority List, any additional funds will be deposited in Deposit Accounts at a designated “Excess Bank,” which will accept funds without limitation and without regard to the FDIC insurance limit.

  • Customer may contact Bank at any time to verify the current File Limit, Deposit Limit or Cut-Off Time.

  • Bank reserves the right to change the File Limit, the Deposit Limit, and the Cut-Off Time.