Closed Account definition

Closed Account means an account with a zero share balance, no outstanding funds or no reportable tax information.

Closed Account is any account on the books of LFS representing record ownership of shares of a Fund which as of the first day of any calendar month has a share balance of zero and does not meet account purge criteria. The Closed Account fee shall be payable on a monthly basis, in an amount equal to 1/12 the per annum charge. "LFS Reimbursable Out-of-Pocket Expenses" means (i) out-of-pocket expenses incurred on behalf of the Fund by LFS for stationery, forms, postage and similar items, (ii) networking account fees paid to dealer firms by LFS on shareholder accounts established or maintained pursuant to the National Securities Clearing Corporation's networking system, which fees are approved by the Trustees from time to time and (iii) fees paid by LFS or its affiliates to third-party dealer firms or transfer agents that maintain omnibus accounts with a Fund in respect of expenses similar to those referred to in clause (i) above, to the extent the Trustees have approved the reimbursement by the Fund of such fees.

Closed Account means that an account is reporting with a zero balance

Examples of Closed Account in a sentence

• If any residual balance remains in your accounts then we will charge you the lesser of the then applicable Closed Account Residual Balance Fee or the remaining balance in your accounts until your balance reaches zero.

• If for any reason this Agreement is terminated with regard to your Account, that Account will be closed, upon which all rights granted to you under this Agreement shall terminate with regard to the Closed Account, and you must discontinue your use of the Software, and you may not access the System or any Closed Account, and all the attributes of the Accounts.

• If a mailed check covering a credit balance is not cashed within ninety (90) days of its issuance, XO will apply a Closed Account Maintenance Fee of $2.50 per month beginning in the monthly billing period immediately following the one in which the ninety (90) day period for presentment expires.

• In the event 1st month's rent, security deposit or other payment presented as a check and is returned as a result of Insufficient Funds, Closed Account, Stop Payment, Fraudulent Checks or other reasons you will incur a Returned Check fee of $15, which does not exceed the maximum amount allowed by applicable Minnesota law, will be assessed.

• If a mailed check covering a credit balance is not cashed within ninety (90) days of its issuance, VTX will apply a Closed Account Maintenance Fee of $2.50 per month beginning in the monthly billing period immediately following the one in which the ninety (90) day period for presentment expires.

More Definitions of Closed Account

Closed Account means any Account that has been terminated by either the Dealer or Seller for any reason, whether or not such Account has an outstanding principal balance.

Closed Account means a toll account that has been closed.

Closed Account means a Player Account that is described in Section 11.1;

Closed Account is any account on the books of CFS representing record ownership of shares of a Fund which as of the first day of any calendar month has a share balance of zero and does not meet account purge criteria.

Closed Account means a customer account that has been closed.

Closed Account means each account of an individual who has been issued a credit card by a Seller prior to the Closing Date and whose account is closed and is not a Written-Off Account.

Closed Account is any account on the books of LFS representing record ownership of shares of a Fund which as of the first day of any calendar month has a share balance of zero and does not meet account purge criteria. The Closed Account fee shall be payable on a monthly basis, in an amount equal to 1/12 the per annum charge.