Held Account definition

Held Account means a Registered User’s Bank of America personal deposit or credit card account that is linked to the Hosted Service or SDK Service or any account a Registered User has with Bank of America’s Affiliates.
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Held Account means one or more separate, segregated account(s), which may be an interest-bearing account, opened and maintained by Licensee or the Commission at an FDIC-insured bank located in and having a corporate presence in Indiana for use in accounting for and reporting the proceeds of Economic Development Payments made by Licensee to the Commission under this Modified Agreement.
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Examples of Held Account in a sentence

  • Licensee shall pay the Economic Development Payments as required by Section 4.1 in monthly installments by direct deposit or wire transfer of immediately available funds within twenty (20) calendar days after the last day of each calendar month to the appropriate Designated Account and/or Held Account as described below.

  • If the amount in the Funds Held Account is insufficient to make all such payments, the Lender shall apply the amounts in any order that it deems appropriate, in its sole and absolute discretion.

  • Interest earned on the Funds Held Account is reported periodically in the Transaction Summary and annually to the Internal Revenue Service on Form 1099-I.

  • As a condition precedent to Lender’s obligations hereunder and as additional collateral security for the Loans, Borrowers shall maintain at all times an amount equal to equal to the next four (4) scheduled quarterly payments of principal plus accrued interest under the Notes to be held in a Farm Credit Short Term Funds Held Account (the “Escrow Account”).

  • The provisional Ceding Commission shall be credited to or debited from the Funds Held Account, as applicable, as Reinsurance Premiums are credited to or debited from the Funds Held Account and adjusted as the Ultimate Net Loss Ratio is re-determined quarterly.

  • The Reinsurers shall only be obligated to indemnify and reinsure the Company for underlying Policies where the Reinsurers have been paid, or deemed paid via credit to the Funds Held Account, respective premiums for such underlying Policies by the Company.

  • Application of funds in the Funds Held Account will not relieve the Borrower of its obligation to pay any remaining Obligations to Lender.

  • If funds are held in a Segregated Account, any amount remaining in the Segregated Account, after payment of the Funds Held Account balance to the Reinsurers at the Commutation Date, shall be retained by the Company; if funds are held in a Trust Account, any amount remaining in the Trust Account, after payment of the Funds Held Account balance to the Reinsurers at the Commutation Date, shall be returned to the Company.

  • The Borrower or party authorized in Section 11.9 below may withdraw funds from the Funds Held Account in accordance with the terms and conditions set forth below and any other restrictions that Lender and the Borrower may agree to by a signed writing or other authenticated record.

  • Reinsurance Premium, as determined above, less the cumulative Reinsurance Premium previously paid, shall be deemed credited to or debited from the Funds Held Account, as applicable, sixty (60) days in arrears of each respective quarter end.