Return of Funds definition

Return of Funds means any flow of [PPR] funds, which are due to be returned by an Implementing Entity to the Trust Fund pursuant to the Financial Procedures Agreement and consistent with the pertinent [PPR] funding approved by the Governing Board.
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Return of Funds. Participant may require the return of any of Participant’s funds held in trust by BMP and not yet earned by BMP at any time and from time-to-time, with such demand effective when BMP receives written notice of that decision from Participant. Such demand will not be effective for those funds already earned by BMP is such demand is received by BMP after BMP has transferred (or had the right to transfer) such funds to itself under the next paragraph. Distributions: Until earned by BMP, for any of Participant’s funds held in trust under this Agreement, Participant is the only Beneficiary. Under the Service Contract, the monthly fee is earned when the month is completed, and BMP will then be permitted to transfer the funds for that monthly fee only, out of this trust and into BMP’s own account at any time on or after the 1st day of the next month. For example, if the month in question is November, then on or after December 1st, BMP can transfer the funds from this trust into its own account to cover the monthly fee it earned for that November. If on the date of Participant’s death there are still funds remaining in the trust intended for monthly fees for months after the month in which Participant died, such additional funds shall be distributed by BMP, as trustee, to the personal representative of Participant’s estate. There will not be any income from the funds held in trust under the Agreement, as it is intended that the funds will be held in a non-interest bearing account in a bank which is insured by the FDIC, but if there was any income, it would belong to Participant, not BMP.
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Return of Funds. Participant may require the return of any of Participant’s funds held in trust by BMP and not yet earned by BMP at any time and from time-to-time, with such demand effective when BMP receives written notice of that decision from Participant. Such demand will not be effective for those funds already earned by BMP is such demand is received by BMP after BMP has transferred (or had the right to transfer) such funds to itself under the next paragraph.
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Examples of Return of Funds in a sentence

  • You authorize the Bank, at any time, to debit your account in the amount of a RTP if we receive a proper Request for Return of Funds in accordance with the RTP Rules.

  • In addition to the requirements of Special Contract Conditions subsection 3.9, Return of Funds, the following applies to cancellation of the Insurance Policy: All cancellations must be calculated on a pro-rata basis and must adhere to the requirements of Florida law.

  • If you wish to submit a Request for Return of Funds, please contact the Bank.

  • Return of Funds The CONTRACTOR shall: Agree that all amounts identified as being owed to the Department are returned to the Department immediately—no more than thirty (30) Days after notification to the CONTRACTOR by the Department—unless otherwise authorized in writing by the Department.

  • The RTP System allows Senders to submit a Request for Return of Funds, but the Receiver is not obligated to comply.

  • In addition to the requirements of Special Contract Conditions subsection 3.9, Return of Funds, the following applies to cancellation of the Insurance Policy: ITB No. 21-84131512-ITB EDPE Attachment E Scope of Work (SOW) All cancellations must be calculated on a pro-rata basis and must adhere to the requirements of Florida law.

  • If HSBC receives such a Request for Return of Funds, the Bank will attempt to contact you, but will have no liability for failing to do so.

  • Where the Customer is the Sender submitting a Request for Return of Funds, the Bank cannot guarantee that the funds will be returned in whole or in part and will have no obligation to make any effort to recover such funds beyond the transmission of the or penalty assessed to the Customer by the payee.

  • HSBC cannot guarantee that the funds will be returned in whole or in part and shall have no obligation to make any effort to recover such funds beyond the transmission of the Request for Return of Funds.

  • The RTP System allows a Sender to submit a Request for Return of Funds, but the Receiver is not obligated to comply.


More Definitions of Return of Funds

Return of Funds. If we determine that you qualify for return of any Funds from the Collateral Account, we will return these Funds to you by a method we deem reasonable. If your Account is closed, we will return any excess Funds that remain in the Collateral Account after repayment of all Obligations. If we mail a check to you, we will mail it to your mailing address on file with us for the Credit Card Accounts. In the event of your death, we will not release Funds on deposit unless all Obligations have been repaid and all legal documents we require are delivered to us. Confidentiality: We will disclose information to third parties about your Collateral Account or any transfers you make: (a) where it is necessary for completing a transfer, or (b) in order to verify the existence and condition of your Collateral Account for a third party, or (c) in order to comply with government agency or court orders, or (d) if you give us your written permission, or (e) as permitted by the privacy notice we have provided to you.
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Related to Return of Funds

  • Fund of Funds means a registered investment company or series of a Fund which is managed and administered by Service Company and which invests substantially all of its assets in shares of two or more Funds (or series thereof).

  • freezing of funds means preventing any move, transfer, alteration, use of, access to, or dealing with funds in any way that would result in any change in their volume, amount, location, ownership, possession, character, destination or other change that would enable the funds to be used, including portfolio management;

  • Cost of Funds means, with respect to a Loan in an Alternative Currency, the actual cost to a Lender of funding or maintaining such Loan in the applicable currency from whatever source it may reasonably select for the relevant Interest Period.

  • transfer of funds means any transaction at least partially carried out by electronic means on behalf of a payer through a payment service provider, with a view to making funds available to a payee through a payment service provider, irrespective of whether the payer and the payee are the same person and irrespective of whether the payment service provider of the payer and that of the payee are one and the same, including:

  • New York Federal Reserve’s Website means the website of the Federal Reserve Bank of New York currently at http://www.newyorkfed.org, or any successor website;

  • NY Federal Reserve’s Website means the website of the NY Federal Reserve, currently at xxxx://xxx.xxxxxxxxxx.xxx, or any successor website of the NY Federal Reserve or the website of any successor administrator of the Secured Overnight Financing Rate.

  • New York Federal Reserve s Website" means the website of the Federal Reserve Bank of New York currently at http://www.newyorkfed.org, or any successor website;

  • REIT Provisions of the Code means Sections 856 through 860 of the Code and any successor or other provisions of the Code relating to real estate investment trusts (including provisions as to the attribution of ownership of beneficial interests therein) and the regulations promulgated thereunder.

  • Flow of Funds Agreement means a Flow of Funds Agreement, in form and substance reasonably satisfactory to the Agents, by and among the Loan Parties, the Agents and the Lenders, and the related funds flow memorandum describing the sources and uses of all cash payments in connection with this Agreement.

  • Money Market Absolute Rate Loan means a loan to be made by a Bank pursuant to an Absolute Rate Auction.

  • Money Market Absolute Rate has the meaning set forth in Section 2.03(d).

  • Investment Decisions Investment, trading, lending or other financial decisions, strategies or recommendations with respect to Investments, whether on behalf of the Master Servicer or any Affiliate thereof, the Special Servicer or any Affiliate thereof, the Operating Advisor or any Affiliate thereof, the Certificate Administrator or any Affiliate thereof, or the Trustee or any Affiliate thereof, as applicable, or any Person on whose behalf the Master Servicer or any Affiliate thereof, the Special Servicer or any Affiliate thereof, the Operating Advisor or any Affiliate thereof, the Certificate Administrator or any Affiliate thereof, or the Trustee or any Affiliate thereof, as applicable, has discretion in connection with Investments.

  • Surplus funds means, at any given date, the excess of cash and other recognized assets that are expected to be resolved into cash or its equivalent in the natural course of events and with a reasonable certainty, over the liabilities and necessary reserves at the same date.

  • Subsidy Funds With respect to any Subsidy Loans, funds contributed by the employer of a Mortgagor in order to reduce the payments required from the Mortgagor for a specified period in specified amounts.

  • Interest Funds With respect to each Mortgage Group and any Payment Date, (a) the sum of, without duplication, (1) all interest collected (other than the interest portion of Payaheads and Prepayment Premiums) or advanced in respect of Scheduled Payments on the Mortgage Loans in such Mortgage Group during the related Due Period by the Servicer, the Subservicer, the Master Servicer or the Indenture Trustee (solely in its capacity as successor Master Servicer), minus, (x) to the extent provided under Sections 4.02(e)(3) and (4) and Sections 5.08(i) and (ii) herein, previously unreimbursed Advances and Nonrecoverable Advances due to the Servicer, the Subservicer, the Master Servicer or the Indenture Trustee (solely in its capacity as successor master servicer) to the extent allocable to interest and the allocable portion of previously unreimbursed Servicing Advances with respect to the Mortgage Loans in such Mortgage Group, (y) the Servicing Administration Fee and Master Servicing Fee with respect to such Mortgage Loans in such Mortgage Group and (z) any fees and expenses of any Custodian with respect to the Mortgage Loans in such Mortgage Group to the extent not paid by the Seller or its Affiliates, (2) any Compensating Interest Payments or payments in respect of Prepayment Interest Shortfalls paid by the Master Servicer pursuant to Section 5.21 with respect to the related Prepayment Period with respect to the Mortgage Loans in such Mortgage Group, (3) the portion of any Purchase Price or Substitution Amount paid with respect to the Mortgage Loans in such Mortgage Group during the related Prepayment Period allocable to interest, and (4) all Net Liquidation Proceeds, Insurance Proceeds and any other recoveries collected with respect to the Mortgage Loans in such Mortgage Group during the related Prepayment Period, to the extent allocable to interest, as reduced by (b) such Mortgage Group’s pro rata share of: (i) the Owner Trustee Fee, (ii) any costs, expenses or liabilities reimbursable or otherwise due to the Master Servicer, Servicer, the Subservicer, the Indenture Trustee, any Custodian, the Owner Trustee or the Trust Administrator to the extent provided in this Agreement, the Trust Agreement, the Indenture and any Custodial Agreement and (iii) any Net Swap Payment.

  • New York Fed s Website" means the website of the Federal Reserve Bank of New York currently at http://www.newyorkfed.org, or any successor website of the Federal Reserve Bank of New York;

  • Counterpart Funds means the local currency generated from the Loan proceeds under the Program and referred to in paragraph 4 of Schedule 4 to this Loan Agreement;

  • General Account consists of all our assets other than those held in any separate investment accounts.

  • New Fund means each of the series portfolios of the Trust, one of which shall correspond to one of the Current Funds as shown on Schedule A.

  • Qualified escrow fund means an escrow arrangement with a federally or state-chartered financial institution having no affiliation with any tobacco product manufacturer and having assets of at least one billion dollars where such arrangement requires that such financial institution hold the escrowed funds’ principal for the benefit of releasing parties and prohibits the tobacco product manufacturer placing the funds into escrow from using, accessing, or directing the use of the funds’ principal except as consistent with section 453C.2, subsection 2, paragraph “b”.

  • Money Market Yield means a yield (expressed as a percentage) calculated in accordance with the following formula: Money Market Yield = D x 360 x 100 360 – (D x M) where “D” refers to the applicable per annum rate for commercial paper quoted on a bank discount basis and expressed as a decimal, and “M” refers to the actual number of days in the applicable Interest Reset Period.

  • Money Market Lending Office means, as to each Bank, its Domestic Lending Office or such other office, branch or affiliate of such Bank as it may hereafter designate as its Money Market Lending Office by notice to the Borrower and the Agent; provided that any Bank may from time to time by notice to the Borrower and the Agent designate separate Money Market Lending Offices for its Money Market LIBOR Loans, on the one hand, and its Money Market Absolute Rate Loans, on the other hand, in which case all references herein to the Money Market Lending Office of such Bank shall be deemed to refer to either or both of such offices, as the context may require.

  • General Fund means the Fund so designated and established by Article V hereof.

  • Surplus Fund means the fund by that name established pursuant to the Second Resolution.

  • Special Payments Account Means, with respect to the Class A Certificates, the account or accounts created and maintained for such series pursuant to Section 4.01(b) of the Basic Agreement (as modified by Section 7.01(c) of this Trust Supplement) and this Trust Supplement.