Intermediary Account definition
Examples of Intermediary Account in a sentence
The Securities Intermediary shall (and agrees to cause the Securities Intermediary Account Bank to) treat the Borrower Representative as the “entitlement holder” (within the meaning of Section 8-102(a)(7) of the UCC) under the Securities Account Control Agreement in respect of all “financial assets” (within the meaning of Section 8-102(a)(9) of the UCC) credited to the Collection Account, Disbursement Account, and any Reserve Account.
The Paying Agent shall also establish and maintain, at the Securities Intermediary Account Bank, the Disbursement Account and the Reserve Accounts, which may be sub-accounts of the Collection Account (i.e., ledger or book entry accounts and not actual accounts) or separate Accounts.
You must pay sufficient funds into the Intermediary Account to cover the full amount of Payment on or before the Settlement Cut-Off.
You must pay sufficient funds into the Intermediary Account in the relevant source currency to cover the full amount of any FX Conversion you wish to make on or before the Settlement Cut-Off.
If you do not have sufficient funds in your Intermediary Account to cover the full amount, we may deduct or set-off such amount against any funds collected and held for you in your Global Account.
When you pay into the Intermediary Account, you must give us an accurate and complete instruction in relation to a Payment or FX Conversion.
For waivers and reductions not available through a particular Financial Intermediary, Account Owners will need to purchase Units directly from the Plan or through another Financial Intermediary.
For example, if you have given us one or more Payment instructions without having paid sufficient funds into the Intermediary Account, we may use any funds we subsequently collect or receive for the purposes of one or more of those Payment instructions at our discretion, unless we accept instructions from you otherwise.
Without prejudice to any of our rights under these terms, you specifically acknowledge that if you have not paid sufficient funds into the Intermediary Account to cover the full amount, we may deduct or set-off such amount against funds collected and held for you.
You must pay sufficient funds into the Intermediary Account in the relevant source currency to cover the full amount of any Payment you wish to make on or before the Settlement Cut-Off.