Common use of Your Money Clause in Contracts

Your Money. Your money will be held in the Corporate Client Account of Blackfinch held by Blackfinch Corporate Services Limited. The loans will be entered into through our Nominee Company. You grant to Blackfinch the right to hold your unadvanced cash in such an account until or unless it is transferred to the relevant borrower. Our Nominee Company, as soon as is reasonably practical, will claim and account for all interest and other payments or entitlements received and due to you, but is entitled to deduct or withhold any sum on account of any tax required to be so deducted or withheld and provide you with evidence of such deduction or withholding for your tax records. Your money may be transferred to third parties for the purposes of settling transactions in accordance with any applicable rules. After termination of the Agreement, we may, subject to the applicable rules, retain your money for our own discretion if it remains unclaimed for a period of at least 6 years and provided that we have taken reasonable steps to trace you and return the balance.