AUTHORIZATION LIMIT Clause Samples

The Authorization Limit clause sets a maximum threshold for the amount or value that a party is permitted to approve or commit to under an agreement. In practice, this means that any transaction, expenditure, or contractual obligation exceeding the specified limit requires additional approval, often from higher management or another designated authority. This clause helps organizations control financial risk and maintain oversight by ensuring that significant commitments are subject to appropriate review and authorization.
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AUTHORIZATION LIMIT. Your Authorization Limit equals the total of (i) any available free credit balances in the Brokerage Account; (ii) the available value of the Sweep Program; and (iii) the available margin loan value of eligible securities in the Brokerage Account, if you have a margin account. The loan value of eligible securities is subject to regulatory requirements and our margin policies then in effect, which may be more stringent than those required by government regulation. Since your Authorization Limit is dependent upon securities prices as well as changes in the debit balance in the Brokerage Account and any transactions, it will likely fluctuate from day to day.
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AUTHORIZATION LIMIT. Your Authorization Limit equals the total of: any available free credit balances in the Brokerage Account; the available value of the Sweep Program; and the available margin loan value of eligible securities in the Brokerage Account, if you have a margin account. The loan value of eligible securities is subject to regulatory requirements and our margin policies then in effect, which may be more stringent than those required by government regulation. Since your Authorization Limit is dependent upon securities prices as well as changes in the debit balance in the Brokerage Account and any transactions, it will likely fluctuate from day to day.
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AUTHORIZATION LIMIT. The Authorization Limit comprises the following three components: (1) any free credit balances in your Brokerage Account; (2) the net asset value of the Fund shares in the Funds; (3) the available margin loan value of securities in the Brokerage Account (if your ProCash Plus Account is established as a margin account). The Authorization Limit may fluctuate from day to day because it is dependent upon changes in the debit balance in the Brokerage Account as well as the current market value of securities. As soon as the Bank is notified of the use of the Card/Check, the Authorization Limit is immediately reduced, not when a sales draft or cash advance draft is paid. Fund shares are not redeemed, however, until the item is presented to the Bank for payment. If your Authorization Limit is reduced or will be reduced below zero due to Checking and Card transactions, the Check may be returned unpaid or the Card authorization will be declined. Certain charges will apply for any Checks that are returned unpaid, as disclosed on the Financial Terms card. You promise not to incur Card purchases or advances or issue Checks that exceed your Authorization Limit.
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Related to AUTHORIZATION LIMIT

  • Authorization, Etc This Agreement and the Notes have been duly authorized by all necessary corporate action on the part of the Company, and this Agreement constitutes, and upon execution and delivery thereof each Note will constitute, a legal, valid and binding obligation of the Company enforceable against the Company in accordance with its terms, except as such enforceability may be limited by (i) applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law).

  • Required Authorizations There is no requirement to make any filing with, give any notice to, or obtain any Authorization of, any Governmental Entity as a condition to the lawful completion of the transactions contemplated by this Agreement.

  • Overtime Authorization All overtime will be authorized in advance by the

  • Authorization; Consents The execution, delivery and performance by the Allocatee of the Allocation Agreement and the carrying out of the authorized use(s) of the NMTC Allocation provided hereunder are within the Allocatee’s powers and have been duly authorized by all necessary corporate, partnership or limited liability company action and no consent, approval, authorization or order of, notice to and filing with, any third party including, without limitation, any governmental entity which has not been previously obtained, is required in connection with such execution, delivery and performance. The Allocatee will make all such notices or filings that may be required after the Allocation Date in accordance with the applicable time periods for such notices or filings.

  • Authorization of the Common Stock The Placement Shares, when issued and delivered, will be duly authorized for issuance and sale pursuant to this Agreement and, when issued and delivered by the Company against payment therefor pursuant to this Agreement, will be duly authorized, validly issued, fully paid and nonassessable.