Federal Funds Account definition

Federal Funds Account means any deposit account of the Borrower or Subsidiary established to hold, and exclusively holding, Title IV Program Funds under the terms of 34 C.F.R. Sections 668.161(b) and 668.163 and which includes the phraseFederal Funds” in the name of such deposit account, and which shall be segregated from any operating accounts of the Borrower or Subsidiary.
Federal Funds Account means an Account reflecting monies that are due to be received, or have been received, from the U.S. Department of Education pursuant to a U.S. Institution Subsidiary’s participation in the Title IV Programs, where such monies are required to be held in trust or another fiduciary capacity, until and unless such monies are disbursed by the U.S. Institution Subsidiary to student beneficiaries of the Title IV Programs or returned to the U.S. Department of Education. “Pledged U.S. Institution Subsidiary Copyrights” means (i) all copyright rights in any work subject to the copyright laws of the United States or any other country or group of countries, owned by each U.S. Institution Subsidiary, and (ii) all registrations and applications for registration of any such copyright in the United States or any other country or group of countries owned by each U.S. Institution Subsidiary, including those listed on Schedule 2 and (iii) all rights, priorities and privileges relating to the foregoing, and all rights to xxx at law or in equity for any past, present or future infringement, or other impairment thereof, including the right to receive all Proceeds therefrom.
Federal Funds Account means an Account reflecting monies that are due to be received, or have been received, from the U.S. Department of Education pursuant to a U.S. Institution Subsidiary’s participation in the Title IV Programs, where such monies are required to be held in trust or another fiduciary capacity, until and unless such monies are disbursed by the U.S. Institution Subsidiary to student beneficiaries of the Title IV Programs or returned to the U.S. Department of Education. “Pledged U.S. Institution Subsidiary Copyrights” means (i) all copyright rights in any work subject to the copyright laws of the United States or any other country or group of countries, owned by each U.S. Institution Subsidiary, and (ii) all registrations and applications for registration G-3 EAST\142256231.3 of any such copyright in the United States or any other country or group of countries owned by each U.S. Institution Subsidiary, including those listed on Schedule 2 and (iii) all rights, priorities and privileges relating to the foregoing, and all rights to xxx at law or in equity for any past, present or future infringement, or other impairment thereof, including the right to receive all Proceeds therefrom.

Examples of Federal Funds Account in a sentence

  • Returns made to the Federal Funds Account are calculated using the Department’s Return of Title IV, HEA Funds Worksheets, scheduled attendance and are based upon the payment period.

  • Returns made to the Federal Funds Account are calculated using the Department’s Return of Title IV Funds Worksheets, scheduled attendance and are based upon the payment period.

  • Any required refunds due to ineligibility are deposited into the Federal Funds Account within 3 business days and any refunds due to withdrawal / R2T4 are deposited into the Federal Funds Account within 45 days from the Date of Determination.

  • RGM is notified of funds transferred in Federal Funds Account and they return funds to DOE.Disbursing the correct loan amount to the correct student: The Institution reviews disbursement amounts on the check processing log prior to disbursing checks and posting payments to student ledger.Completing monthly reconciliation and Program Year Closeout: RGM completes monthly reconciliation using SAS Reports, G5 Summary and in-house Actual Disbursement Reports.

  • Fee Agency Account, Imprest Account, Organizational Safekeeping Account, EFT Federal Funds Account, and Electronic Receiving Account.

  • RGM is notified of funds transferred in Federal Funds Account and they return funds to DOE.

  • EFT Federal Funds Account – This account is used to receive and refund theU.S. Department of Education for federal loans and grants and private lenders for private loans.

  • Federal grants and funds received shall be deposited into the Oregon Department of Administrative Ser- vices Federal Funds Account.

  • Any required refunds due to ineligibility are deposited into the Federal Funds Account within 3 business days and any refunds due to withdrawal /R2T4 are deposited into the Federal Funds Account within 45 days from the Date of Determination.

  • No funds other than Title IV Program Funds may be deposited into any Federal Funds Account.

Related to Federal Funds Account

  • Funds Account means an account held by you or any third parties maintained with any Participant.

  • Surplus Account has the meaning assigned to it in Section 3.02(a).

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Agent Account means such account of the Administrative Agent as is designated in writing from time to time by the Administrative Agent to the Borrower and the Lenders for such purpose.

  • Liquidity Account has the meaning set forth in Section 6.22(a).

  • Collateral Fund The fund established and maintained pursuant to Section 3.01 hereof.

  • Excess Funds Subaccount is defined in Section 8.02(a) of the Indenture.

  • Collateral Account is any Deposit Account, Securities Account, or Commodity Account.

  • Funding Accounts has the meaning assigned to such term in Section 4.01(h).

  • Note Account As defined in the Indenture.

  • Collections Account has the meaning given to such term in Section 3.01(a) hereof.

  • Disbursement Account means any Deposit Account maintained by Borrower with a financial institution for the purpose of receiving and disbursing the proceeds of Loans made pursuant hereto.

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • Custodial Account The separate account or accounts created and maintained pursuant to Section 4.04.

  • Liquidity Account Investments means Deposit Securities or any other security or investment owned by the Fund that is rated not less than A3 by Moody’s, A- by Standard & Poor’s, A- by Fitch or an equivalent rating by any other NRSRO (or any such rating’s future equivalent) or if not rated, determined by the Adviser to be of comparable quality.

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

  • Investment Account As defined in Section 3.12(a).

  • Applicable Account means, with respect to any payment to be made to the Administrative Agent hereunder, the account specified by the Administrative Agent from time to time for the purpose of receiving payments of such type.

  • Related Account means an Account with respect to which a new account number has been issued by the applicable Account Owner or the Servicer (a)(i) resulting from a lost or stolen credit or charge card relating to such Account (if such Account is a credit or charge card account) or (ii) under circumstances not requiring the standard application and credit evaluation procedures under the Credit Guidelines applicable to such Account, and (b) that can be traced or identified by reference to or by way of Schedule 1 to this Agreement and the computer or other records of the applicable Account Owner or the Servicer.

  • Settlement Account means an account established at a financial institution designated by Merchant as the account to be credited and debited by the Servicers for Transactions, Card Fees, Chargebacks and other amount assessed by a Card Association and passed- through to Merchant pursuant to the terms of this Agreement.

  • Reserve Account Draw Amount means, for any Payment Date, an amount equal to the lesser of (a) the Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount of cash or other immediately available funds on deposit in the Reserve Account (excluding any net investment earnings) on such Payment Date; provided, however, that if such Payment Date is the Redemption Date, the “Reserve Account Draw Amount” shall mean an amount equal to the amount of cash or other immediately available funds on deposit in the Reserve Account on the Redemption Date.

  • Targeted Accumulation Reserve Subaccount Deposit means, with respect to any Distribution Date during the Accumulation Reserve Funding Period, an amount equal to (i) [0.5]% of the Outstanding Dollar Principal Amount of the Class C( - ) Notes as of the close of business on the last day of the related Due Period or (ii) any other amount designated by the Calculation Agent on behalf of the Issuer.]

  • Payment Account means a segregated non-interest-bearing corporate trust account maintained by the Property Trustee for the benefit of the Holders in which all amounts paid in respect of the Notes will be held and from which the Property Trustee, through the Paying Agent, shall make payments to the Holders in accordance with Sections 3.1, 4.1 and 4.2.

  • Borrower Account has the meaning specified in Section 2.11(a)(ii).

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

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