Separate Bank Account definition

Separate Bank Account means the separate bank account maintained by the promoter in a scheduled bank to deposit 70% / 100% amount collected from the allottees to cover the cost of construction and the land cost of the real estate project as defined under sub-clause (D) of clause (l) of sub-section (2) of Section 4 of the Act;
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Separate Bank Account. The Company agrees that the application monies received in respect of Hong Kong Public Offering Applications shall be credited to a separate bank account with the Nominee pursuant to the terms of the Receiving Bank Agreement.
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Separate Bank Account means a bank account used to deposit clients’ money opened in the name of the Nominee:.
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Examples of Separate Bank Account in a sentence

  • Separate Bank Account – Exchange will deposit all amounts consisting of cash transferred as Eligible Collateral Support in an interest bearing bank account at Exchange’s Principal Banker separate from the corporate funds of Exchange or that of any affiliates or subsidiaries of Exchange.

  • The Statutory Auditor doing annual audit and the Chartered Accountant issuing Certificate for Project registration and withdrawal from Separate Bank Account, should be different entities.3. The Chartered Accountant shall be held responsible and accountable for any wrong information in the Certificate.

  • The Statutory Auditor doing annual audit and the Chartered Accountant issuing Certificate for Project registration and withdrawal from Separate Bank Account, should be different entities.

  • Expenditure under the project will either be made centrally at the SPIU through Treasury System and / or through Separate Bank Account opened exclusively for this purpose.

  • Separate Bank Account status, deposits and withdrawals of Project / Phase.

  • Separate Bank Account and Interest Earned on Advance Payments: A separate bank account, bearing interest, shall be maintained for the project.

  • Can escrow account opened with the Bank from whom loans are availed, be treated as Separate Bank Account for a Goa RERA registered project.Ans: No. A separate bank account needs to be opened in accordance with the provisions of the Act and rules made there under.

  • Closing Balance in the Separate Bank Account of the project at the end of the reported quarter.

  • The amount payable on such FDs is lying in a Separate Bank Account.

  • The amount payable on such FDs is lying in a Separate Bank Account; during the year under review the Company has not received any claim for FD payment.


More Definitions of Separate Bank Account

Separate Bank Account means the separate account to be maintained by the promoter in a scheduled bank as per Section 4(2)(l)(D) of RERA Act, to cover cost of construction and land cost of the project.
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Separate Bank Account means a bank account into which funds are deposited and withdrawn.
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Separate Bank Account means a checking or savings account that is maintained in a financial institution whose deposits are insured by the Federal Deposit Insurance Corporation.
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Related to Separate Bank Account

  • Bank Account means one or more accounts opened, maintained and operated by the Portfolio Manager with any of the Scheduled Commercial Banks in accordance with the agreement entered into with the Client.

  • Client Bank Account means an account held in the name of the Client with a Bank and/or other institution and/or any electronic payment provider and/or a credit card processor; and/or an account held in the name of the Company on behalf of the Client with a Bank and/or other institution and/or any electronic payment provider and/or a credit card processor.

  • Seller’s Bank Account shall have the meaning set forth in Section 3.2(b).

  • Designated Bank Account means the relevant bank account designated by each Holder;

  • Authorized Bank Account means any Officially Designated bank account to which redemption proceeds may be sent.

  • Bank Accounts means those account(s) opened and maintained for the Trust by the Trustee at Banks, the beneficial ownerships in which shall vest in the Unit Holder(s).

  • Nominated Bank Account means MDL’s bank account as notified by MDL to the other Party from time to time.

  • Separate Account shall have the respective meanings assigned to such terms in Section 3 of ERISA.

  • Master Account or “Judicial Council’s Master Account” shall mean the Judicial Council’s billing account to which the Contractor is authorized to charge specifically identified charges under this Agreement.

  • Agency Account means any deposit account opened on the books of a Subcustodian or other banking institution in accordance with Section 7.1.

  • Separate Accounts means the accounts which are to be prepared for each

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

  • Purchase Price Bank Account means a bank account in the United States to be designated by the Sellers in a written notice to the Purchaser at least five Business Days before the Closing.

  • Concentration Account Bank shall have the meaning assigned to such term in Section 9.01(e)(i).

  • Clearing Account has the meaning set forth in Section 2.7.1 hereof.

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

  • Principal Funding Account shall have the meaning specified in subsection 4.03(a)(i).

  • Administration Account As defined in Section 7.02.

  • Depository Account includes any commercial, checking, savings, time, or thrift account, or an account that is evidenced by a certificate of deposit, thrift certificate, investment certificate, certificate of indebtedness, or other similar instrument maintained by a Financial Institution in the ordinary course of a banking or similar business. A Depository Account also includes an amount held by an insurance company pursuant to a guaranteed investment contract or similar agreement to pay or credit interest thereon.

  • Concentration Account has the meaning provided in Section 6.13(c).

  • Deposit Account Bank means a financial institution selected or approved by the Administrative Agent and with respect to which a Grantor has delivered to the Administrative Agent an executed Deposit Account Control Agreement.

  • Current Account means a form of demand deposit wherefrom withdrawals are allowed any number of times depending upon the balance in the account or up to a particular agreed amount and will also include other deposit accounts which are neither Savings Deposit nor Term Deposit.

  • Direct Account : means any Account which is not an ISA Account.

  • Client Account means the unique personalized account of the Client consisting of all Completed Transactions, Open Positions and Orders on the Platform, the Balance of the Client money and deposit/withdrawal transactions of the Client money. It is understood that the Company may use the term Trading Account or Account on its Website or communications, which shall mean your Client Account.

  • Judicial Council’s Master Account means the Judicial Council’s billing account to which the Contractor is authorized to charge specifically identified charges under this Agreement.

  • Subsidy Account If the Trust Estate contains any Subsidy Loans, the deposit account or accounts created and maintained by the Servicer for deposit of Subsidy Funds and amounts payable under interest subsidy agreements relating to mortgage loans other than the Mortgage Loans.