Acceptance of Accounts Sample Clauses

The Acceptance of Accounts clause establishes the process by which one party reviews and formally approves financial statements, invoices, or other accounting records provided by the other party. Typically, this clause outlines the timeframe for review, the method for raising objections or discrepancies, and the consequences of acceptance or failure to object within the specified period. Its core practical function is to ensure transparency and finality in financial dealings, reducing the risk of future disputes over the accuracy or validity of submitted accounts.
Acceptance of Accounts. Each Customer Account and Proprietary Account accepted and approved by Correspondent shall be subject to acceptance by Ridge (which shall not be construed to require any due diligence on the part of Ridge). Correspondent shall not approve any Customer Account unless all information required in Section III.A. of this Agreement has been received and due diligence as set forth in Section III.B. of this Agreement has been performed by Correspondent. Ridge reser­ves the absolute right, exer­cisable in its sole and exclusive discretion acting in good faith, without prior notice to Correspondent or to the Customer, to reject any account that Correspondent may offer as an Account, or to terminate any account previously accepted by it as an Account. Without limiting the generality of any of the foregoing, Ridge will be under no obligation to accept any Customer Account as to which any documentation or information required to be submitted to Ridge or maintained by Correspondent pursuant to Sections III.A. and III.B. of this Agreement is incomplete. No action taken by Ridge or any of its employees, including, without limitation, clearing a trade in any Account, shall be deemed to be or shall constitute acceptance of such Customer Account. Without limiting the generality of any of the foregoing, in the event that any information or documentation requested by Ridge regarding a Customer Account is not promptly provided to Ridge, Ridge may, without prior notice to Correspondent or to the Customer, reject or terminate such account as a Customer Account or refuse to execute or clear any further transactions therein. If Ridge nevertheless accepts or continues to execute or clear transactions in such Customer Account, it shall not be deemed a waiver of Ridge’s right to receive such information or documentation or to later terminate or refuse to execute or clear transactions in such Customer Account.
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Acceptance of Accounts. Prior to any Customer Account being opened with Pens▇▇, ▇▇ must be approved by Correspondent. Pens▇▇ ▇▇▇erves the right to withhold acceptance of, or to reject, for any reason, any Customer, Customer Account, Correspondent Account or any transaction for any Account and to terminate any Account previously accepted by Pens▇▇. Initial acceptance of each Account shall be conditioned upon Pens▇▇'▇ ▇▇▇eipt of completed forms as required by Section 2(a). Correspondent shall not submit such forms with respect to any Customer Account unless Correspondent has in its possession the documentation of all information required pursuant to Section 2(b). Pens▇▇ ▇▇▇ll be under no obligation to accept any Account as to which any documentation required to be submitted to Pens▇▇ ▇▇ maintained by Correspondent pursuant to Sections 2(a) and 2(b) is incomplete. Prior to acceptance of any Account, no action taken by Pens▇▇ ▇▇ any of its employees, including, without being limited to, executing or clearing a trade in any Account, shall be deemed to be or shall constitute acceptance of such Account.
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Acceptance of Accounts. An authorized officer of Correspondent shall accept and approve each Customer and Customer Account. Each Customer and Customer Account approved by Correspondent and opened with Southwest shall be subject to Southwest's acceptance. Southwest reserves the right to withhold acceptance of, or to reject, for any reason, any Customer, Customer Account, correspondent Account or any transaction for any Account and to terminate any Account previously accepted by Southwest. Acceptance of each Account shall be conditioned upon Southwest's receipt of all required completed forms as required by Section 2(a). Correspondent shall not submit such forms with respect to any Customer Account unless Correspondent has in its possession the documentation of all information required pursuant to Section 2(b). Southwest shall be under no obligation to accept any Account as to which any documentation required to be submitted to Southwest or maintained by Correspondent pursuant to Section 2(a) and (b) is incomplete. Prior to acceptance of any Account, no action taken by Southwest or any of its employees, including, without being limited to, clearing a trade in any Account, shall be deemed to be or shall constitute acceptance of such Account.
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Acceptance of Accounts. FSWC will execute orders for CLAY’s customers whose Accounts have been accepted by· FSWC through CLAY, but only insofar as such orders are transmitted by CLAY to FSWC through the FSWC on-line system or telephonically after CLAY’s appropriate principals have accepted and approved said Accounts. CLAY shall be responsible for notifying FSWC in writing of the identity of the persons authorized to enter orders for CLAY and its customers; and until such notification is received, FSWC shall be fully protected in relying on the incumbency and authority of all persons who represent they are registered representatives of CLAY, or represent they are authorized to act for or on behalf of a registered representative of CLAY, without investigation or inquiry of any kind by FSWC. Any person so identified to FSWC as being authorized to enter orders shall be deemed to retain such authority until such time as CLAY establishes to the satisfaction of FSWC that such person is no longer employed by CLAY. Each Customer and CLAY Account approved by CLAY and opened with FSWC shall be subject to FSWC's acceptance. CLAY will not submit any Customer for FSWC's acceptance unless FSWC's standards for the establishment of an Account, as set forth in this Agreement, have been met. FSWC reserves the right to withhold acceptance of or to reject, for any reason, any Customer Account, CLAY Account or any transaction for any Account and to terminate any Account previously accepted by FSWC at any time, for any reason, and without approval of or notice to CLAY. Initial acceptance of each Account shall be conditioned upon FSWC's receipt of completed forms as required by Section 2(a)(I). CLAY shall not submit such forms with respect to any Customer Account unless CLA Y has in its possession the documentation of all information required pursuant to Section 2(a)(2). FSWC shall be under no obligation to accept any Account as to which any documentation required to be submitted to FSWC or maintained by CLAY pursuant to Sections 2(a)(I) and 2(a)(2) is incomplete. Prior to acceptance of any Account, no action taken by FSWC or any of its employees, including without limitation, the clearing of a trade in any Account, shall be deemed to be or shall constitute acceptance of such Account.
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Acceptance of Accounts. Apex reserves the right to withhold acceptance of, or to reject, for any reason, any Account or any transaction for any and/or all Accounts and to terminate any and/or all Accounts previously accepted by Apex. Initial acceptance of each Account shall be conditioned upon Apex’s receipt of completed forms as required by Section 2(a). Apex shall be under no obligation to accept any Account as to which any documentation required to be submitted to Apex is incomplete, and no action taken by Apex or any of its employees, including, without being limited to, executing or clearing a trade in any Account, shall be deemed to be or shall constitute acceptance of such Account.
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Acceptance of Accounts. Prior to any Customer Account being opened with Apex, it. must be approved by Correspondent. Apex reserves the right to reject, for any reason, any Customer, Customer Account, Correspondent Account or any transaction for any Account and to terminate any Account previously accepted by Apex. Initial acceptance of each Account shall be conditioned upon Apex’s receipt of completed forms as required by Section 2(a). Correspondent shall not submit such forms with respect to any Customer Account unless Correspondent has in its possession the documentation of all information required pursuant to Section 2(b). Apex may reject any Account as to which any documentation required to be submitted to Apex or maintained by Correspondent pursuant to Sections 2(a) and 2(b) is incomplete, and no action taken by Apex or any of its employees, including, without being limited to, executing or clearing a trade in any Account. shall be deemed to be or shall constitute acceptance of such Account. Regarding Customer participation in an FDIC or money market sweep program, Correspondent is fully responsible for ensuring, and maintaining documentation showing, that each Customer, before participating in such program, has given prior written affirmative consent to having free credit balances in the Customer’s account included in the sweep program after having been notified: (1) of the general terms and conditions of the products available through the sweep program: and (2) that the products available under the sweep program may change. Correspondent represents and warrants that the requirements set forth in this section have been fulfilled if Correspondent instructs Apex to enter a Customer into a sweep program, and Apex shall be entitled to fully rely on Correspondent’s representation.
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Acceptance of Accounts. Correspondent shall be responsible for approving and accepting each Customer and Account. Correspondent will not approve any Account unless all information and due diligence required by Section IV.1 has been received and performed by Correspondent. Each Account accepted and approved by Correspondent and opened with NFS shall be subject to NFS’ acceptance. An account shall be deemed accepted by NFS if NFS has not advised Correspondent of NFS’ intention not to accept the account within five (5) days of establishment of the account. NFS reserves the right to reject, using reasonable business judgment, any Customer or any Account and to terminate any Account submitted by Correspondent or any Account previously accepted by NFS (it being understood that the exercise of such reasonable business judgment shall be solely for the purpose of ensuring NFS’ compliance with applicable laws, rules and regulations or for the purpose of mitigating NFS’ own risk exposure). NFS shall be under no obligation to accept any Account as to which any documentation or information requested by NFS pursuant to Section IV.2 or required to be submitted to NFS or maintained by Correspondent pursuant to Section IV.1 is incomplete. No action taken by NFS or any of its employees, including, without being limited to, clearing a trade in any Account, shall be deemed to be or shall constitute acceptance of such Account.
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Acceptance of Accounts. Representative does not have the authority to accept any Account or order or execute any contract on behalf of CTC or to incur any obligation on behalf of CTC. CTC s under no obligation to accept any Account or potential Account which CTC does not desire to accept. An Account shall become an Account of CTC only if and when an authorized officer of CTC executes a written contract with, or accepts a purchase order from, such Accounts. CTC has no obligation to Representative for any potential Account that does not become an Account. CTC shall have the sole right of credit approval or credit refusal of Accounts in all cases.
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Related to Acceptance of Accounts

  • Maintenance of Accounts If an institution maintaining the Bank Accounts ceases to be a Qualified Institution, the Servicer will, with the Indenture Trustee’s assistance as necessary, move the Bank Accounts to a Qualified Institution within 30 days.

  • Verification of Accounts The Lender shall have the right, at any time or times hereafter, in the name of the Lender or a nominee of the Lender, to verify the validity, amount or any other matter relating to any Accounts of the Borrower, by mail, telephone, facsimile or otherwise.

  • Maintenance of Loan Account; Statements of Account (a) The Administrative Agent shall maintain an account on its books in the name of the Borrowers (the “Loan Account”) which will reflect (i) all Loans and other advances made by the Lenders to the Borrowers or for the Borrowers’ account, (ii) all Letter of Credit Disbursements, fees and interest that have become payable as herein set forth, and (iii) any and all other monetary Obligations that have become payable. (b) The Loan Account will be credited with all amounts received by the Administrative Agent from the Borrowers or from other Persons for the Borrowers’ account, including all amounts received in the Concentration Account from the Blocked Account Banks, and the amounts so credited shall be applied as set forth in and to the extent required by Section 2.09(e) or Section 8.04, as applicable. After the end of each month, the Administrative Agent shall send to the Borrowers a statement accounting for the charges (including interest), loans, advances and other transactions occurring among and between the Administrative Agent, the Lenders and the Borrowers during that month. The monthly statements, absent manifest error, shall be deemed presumptively correct.

  • Collection of Accounts (a) Borrower shall establish and maintain, at its expense, blocked accounts or lockboxes and related blocked accounts (in either case, "Blocked Accounts"), as Lender may specify, with such banks as are acceptable to Lender into which Borrower shall promptly deposit and direct its account debtors to directly remit all payments on Accounts and all payments constituting proceeds of Inventory or other Collateral in the identical form in which such payments are made, whether by cash, check or other manner. The banks at which the Blocked Accounts are established shall enter into an agreement, in form and substance satisfactory to Lender, providing that all items received or deposited in the Blocked Accounts are the property of Lender, that the depository bank has no lien upon, or right to setoff against, the Blocked Accounts, the items received for deposit therein, or the funds from time to time on deposit therein and that the depository bank will wire, or otherwise transfer, in immediately available funds, on a daily basis, all funds received or deposited into the Blocked Accounts to such bank account of Lender as Lender may from time to time designate for such purpose ("Payment Account"). Borrower agrees that all payments made to such Blocked Accounts or other funds received and collected by Lender, whether on the Accounts or as proceeds of Inventory or other Collateral or otherwise shall be the property of Lender. (b) For purposes of calculating the amount of the Loans available to Borrower, such payments will be applied (conditional upon final collection) to the Obligations on the business day of receipt by Lender of immediately available funds in the Payment Account provided such payments and notice thereof are received in accordance with Lender's usual and customary practices as in effect from time to time and within sufficient time to credit Borrower's loan account on such day, and if not, then on the next business day. For the purposes of calculating interest on the Obligations, such payments or other funds received will be applied (conditional upon final collection) to the Obligations one (1) business day following the date of receipt of immediately available funds by Lender in the Payment Account provided such payments or other funds and notice thereof are received in accordance with Lender's usual and customary practices as in effect from time to time and within sufficient time to credit Borrower's loan account on such day, and if not, then on the next business day. (c) Borrower and all of its affiliates, subsidiaries, shareholders, directors, employees or agents shall, acting as trustee for Lender, receive, as the property of Lender, any monies, checks, notes, drafts or any other payment relating to and/or proceeds of Accounts or other Collateral which come into their possession or under their control and immediately upon receipt thereof, shall deposit or cause the same to be deposited in the Blocked Accounts, or remit the same or cause the same to be remitted, in kind, to Lender. In no event shall the same be commingled with Borrower's own funds. Borrower agrees to reimburse Lender on demand for any amounts owed or paid to any bank at which a Blocked Account is established or any other bank or person involved in the transfer of funds to or from the Blocked Accounts arising out of Lender's payments to or indemnification of such bank or person. The obligation of Borrower to reimburse Lender for such amounts pursuant to this Section 6.3 shall survive the termination or non-renewal of this Agreement.

  • Addition of Accounts (a) (i) If, from time to time, Funding (A) becomes obligated to designate Additional Accounts pursuant to Subsection 2.08(a) of the Pooling and Servicing Agreement, or (B) elects to designate Additional Accounts pursuant to Subsection 2.08(b) of the Pooling and Servicing Agreement, then in either case Funding may, at its option, give Capital One written notice thereof on or before the eighth Business Day prior to the Addition Date therefor, and upon receipt of such notice Capital One shall on or before the Addition Date, designate sufficient Eligible Accounts to be included as Additional Accounts as requested by Funding. (ii) Additionally, Capital One may, at its option and with the consent of Funding, designate newly originated Eligible Accounts to be included as Additional Accounts. (b) On the Addition Date with respect to any designation of Additional Accounts, such Additional Accounts shall become Accounts, and Funding shall purchase Capital One’s right, title and interest in, to and under the Receivables in such Additional Accounts and the related Purchased Assets as provided in Section 2.01, subject to the satisfaction of the following conditions on such Addition Date: (i) Capital One shall have delivered to Funding copies of UCC financing statements covering such Additional Accounts, if necessary to perfect Funding’s interest in the Receivables arising therein and the related Purchased Assets; (ii) as of each of the Additional Cut-Off Date and the Addition Date, no Insolvency Event with respect to Capital One shall have occurred nor shall the sale of the Receivables arising in the Additional Accounts and the related Purchased Assets to Funding have been made in contemplation of the occurrence thereof; (iii) Capital One shall have delivered to Funding an Officer’s Certificate of Capital One, dated the Addition Date, to the effect that (A) Capital One reasonably believes that such addition will not, based on the facts known to such officer at the time of such certification, then cause a Pay Out Event under the Pooling and Servicing Agreement or any event to occur that, after the giving of notice or the lapse of time would constitute a Pay Out Event under the Pooling and Servicing Agreement and (B) in the case of Additional Accounts, no selection procedure was utilized by Capital One that would result in a selection of Additional Accounts (from the available Eligible Accounts owned by Capital One) that would be materially adverse to the interests of Funding as of the date of the addition; (iv) Capital One shall have indicated in its computer files that Receivables created in connection with such Additional Accounts and the related Purchased Assets have been sold to Funding and shall have delivered to Funding the Account Schedule with respect to such Additional Accounts (in the case of Additional Accounts designated pursuant to Subsection 2.02(a)(i)); (v) Capital One and Funding shall have entered into a duly executed, written assignment, substantially in the form of Exhibit A (the “Supplemental Conveyance”); and (vi) Capital One shall have delivered to Funding an Officer’s Certificate of Capital One, dated the Addition Date, confirming, to the extent applicable, the items set forth in clauses (i) through (v) above.