Unapplied Funds definition

Unapplied Funds means funds which are unable to be credited to the account nominated by a Subscriber within the Settlement Schedule.
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Examples of Unapplied Funds in a sentence

  • Even if he had, however, the USDA made no attempt to point to a provision of the note that authorized funds to be placed in an Unapplied Funds Account.

  • The record does not contain the Debtor’s monthly mortgage statements for June, July, August, or September, 2009.column reflecting that the Debtor was, at that time, two full payments in arrears.10 As such, nothing on the face of the monthly mortgage statements from this point forward disclosed that the USDA credited payments and held balances in the Unapplied Funds Account.

  • Five lines down, there is a non-chronological entry indicating that on the same date, $347.68 was drawn from the Unapplied Funds Account even though that account did not have sufficient funds to cover that payment until September 16, 2009.

  • From September 1, 2009, until at least January 17, 2014, the USDA repeatedly placed funds received from the Debtor into the Unapplied Funds Account, often accumulating funds in excess of a mortgage payment, while simultaneously asserting that he was delinquent.

  • The end of each of the Amended Loan Histories contain a series of entries identified as “Funds Reversed Due to Corrections,” which are followed by a series of entries labeled “Payment Applied.” It appears the USDA attempted to correct its accounting by transferring all funds previously applied to payments into the Unapplied Funds Account, and then re-applying those funds to payments beginning with the November 19, 2009.

  • The Debtor testified as much, and the omissions and errors in the Amended Loan History, particularly the balance of the Unapplied Funds Account, support this conclusion.

  • In statement C6, the amount reflected in Unapplied Funds (Pre-Petition) apparently reflects the Chapter 13 treatment because there is no contractual pre-petition arrearage amount.

  • In the event the Company cancels this Agreement with the Customer, it agrees to refund the Unapplied Funds that were paid by the Customer since the last Service Cleaning.

  • Wells Fargo was holding $2,002.63 of Plaintiff’s money in an Unapplied Funds account.

  • We credited the $1,007.82 to the Unapplied Funds balance on your loan .

Related to Unapplied Funds

  • Collected Funds means, with respect to any Collection Period, the amount of funds in the Collection Account representing collections on the Receivables during such Collection Period, including all Net Liquidation Proceeds collected during such Collection Period (but excluding any Purchase Amounts).

  • Unapplied Downgrade Advance means any Downgrade Advance other than an Applied Downgrade Advance.

  • Unapplied Non-Extension Advance means any Non-Extension Advance other than an Applied Non-Extension Advance.

  • Unapplied Provider Advance means any Provider Advance other than an Applied Provider Advance.

  • Prepayment Account for any Class of Loans shall mean an account (which may include the Prepayment Account established under the Security Agreement) established by the Borrower with the Collateral Agent and over which the Collateral Agent shall have exclusive dominion and control, including the exclusive right of withdrawal for application in accordance with this subsection (viii). The Collateral Agent will, at the request of the Borrower, invest amounts on deposit in the Prepayment Account for any Class of Loans in Cash Equivalents that mature prior to the last day of the applicable Interest Periods of the Eurodollar Loans of such Class to be prepaid; provided, however, that (i) the Collateral Agent shall not be required to make any investment that, in its sole judgment, would require or cause the Collateral Agent to be in, or would result in any, violation of any Law, (ii) such Cash Equivalents shall be subjected to a First Priority Lien in favor of the Collateral Agent and (iii) if any Event of Default shall have occurred and be continuing, the selection of such Cash Equivalents shall be in the sole discretion of the Collateral Agent. The Borrower shall indemnify the Collateral Agent for any losses relating to such investments in Cash Equivalents so that the amount available to prepay Eurodollar Loans on the last day of the applicable Interest Periods is not less than the amount that would have been available had no investments been made pursuant thereto. Other than any interest or profits earned on such investments, the Prepayment Accounts shall not bear interest. Interest or profits, if any, on the investments in any Prepayment Account shall accumulate in such Prepayment Account until all outstanding Loans of any applicable Class with respect to which amounts have been deposited in the Prepayment Accounts have been prepaid in full, at which time so much thereof as is not required to make payment of the Senior Credit Obligations which have become due and payable (whether by scheduled maturity, acceleration or otherwise) shall be withdrawn by the Collateral Agent on the next Business Day following the day on which the Collateral Agent considers the funds deposited therein to be collected funds and disbursed to the Borrower or its order. If the maturity of the Loans has been accelerated pursuant to Section 8.02, the Administrative Agent may, in its sole discretion, cause the Collateral Agent to withdraw amounts on deposit in the Prepayment Account for the applicable Class of Loans and, subject to Section 8.03, apply such funds to satisfy the Senior Credit Obligations of the applicable Class or Classes.

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];

  • Available Reserve Account Amount means, for any Transfer Date, an amount equal to the lesser of (a) the amount on deposit in the Reserve Account (exclusive of Investment Earnings on such date and before giving effect to any deposit to, or withdrawal from, the Reserve Account made or to be made with respect to such date) and (b) the Required Reserve Account Amount, in each case on such Transfer Date.

  • Pooled Fund means any pooled fund established and maintained by the Partners as a pooled fund in accordance with the Regulations;

  • Replacement Reserve Monthly Deposit shall have the meaning set forth in Section 7.3.1 hereof.

  • Initial Reserve Account Deposit Amount means an amount equal to $12,240,151.27.

  • Reserve Account Deposit Amount means, with respect to any Distribution Date, the lesser of (x) the excess of (i) the Specified Reserve Balance over (ii) the amount on deposit in the Reserve Account on such Distribution Date, after taking into account the amount of any Reserve Account Withdrawal Amount on such Distribution Date and (y) the amount remaining in the Collection Account after taking into account the distributions therefrom described in clauses (i) through (xviii) of Section 5.7(a).

  • Reserve Account Withdrawal Amount means, with respect to any Distribution Date, the lesser of (x) any shortfall in the amount of Available Funds available to pay the amounts specified in clauses (i) through (xvii) of Section 5.7(a) (taking into account application of Available Funds to the priority of payments specified in Section 5.7(a) and ignoring any provision hereof which otherwise limits the amounts described in such clauses to the amount of funds available) and (y) the amount on deposit in the Reserve Account on such Distribution Date prior to application of amounts on deposit therein pursuant to Section 5.8.

  • Expense Reserve Account The trust account established pursuant to Section 10.3(d).

  • Reserve Account Deposit Cash or Eligible Investments having a value of at least $2,802,496.17.

  • Reallocated Principal Collections means, with respect to any --------------------------------- Monthly Period, the product of (a) the Principal Allocation Percentage with respect to such Monthly Period, (b) the aggregate amount of Collections in respect of Principal Receivables deposited in the Collection Account for such Monthly Period and (c) the sum of the Class B Floating Percentage and the Collateral Floating Percentage with respect to such Monthly Period.

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Interest Reserve Account As defined in Section 3.4(d).

  • 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.

  • Replacement Reserve Account shall have the meaning set forth in Section 7.3.1 hereof.

  • Controlled Disbursement Account means any account of the Borrowers maintained with the Administrative Agent as a zero balance, cash management account pursuant to and under any agreement between a Borrower and the Administrative Agent, as modified and amended from time to time, and through which all disbursements of a Borrower, any other Loan Party and any designated Subsidiary of a Borrower are made and settled on a daily basis with no uninvested balance remaining overnight.

  • Initial Reserve Account Deposit means $3,000,000.

  • Permitted Amount means, on any date, an amount equal to 3.5 times Adjusted EBITDA as of the most recent fiscal quarter for which financial statements of the Company are internally available immediately preceding such date.

  • Targeted Accumulation Reserve Subaccount Deposit means, with respect to any Distribution Date during the Accumulation Reserve Funding Period, an amount equal to (i) [0.5]% of the Outstanding Dollar Principal Amount of the Class A( - ) Notes as of the close of business on the last day of the related Due Period or (ii) any other amount designated by the Calculation Agent on behalf of the Issuer.]

  • Prefunding Account The separate Eligible Account created and maintained by the Trustee pursuant to Section 3.06 in the name of the Trustee for the benefit of the Certificateholders and designated "U.S. Bank National Association, in trust for registered holders of CSFB Mortgage Pass-Through Certificates, CSFB ABS Trust Series 2001-HE12" Funds in the Prefunding Account shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement and shall not be a part of any REMIC created hereunder; provided, however, that any investment income earned from Permitted Investments made with funds in the Prefunding Account shall be for the account of the Depositor.