CENTRAL DEPOSITORY Clause Samples
The Central Depository clause designates a specific entity or system responsible for holding and managing securities or financial instruments on behalf of parties to a transaction. In practice, this clause outlines the procedures for depositing, transferring, and recording ownership of such assets within the depository, ensuring that all transactions are accurately tracked and settled. Its core function is to provide a secure and efficient mechanism for the safekeeping and transfer of securities, thereby reducing settlement risk and enhancing transparency in financial dealings.
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CENTRAL DEPOSITORY. The Union and Associations will work together to establish a Central Depository for all Employer fringe benefit contributions made under this Agreement. At such time as the respective fringe benefit trust fund trustees deem that Employers remitting contributions under this Agreement shall remit such contributions to a Central Depository without such contributions being deemed late or delinquent: the Union shall notify all Employers of the address and procedure for remitting to the Central Depository. The Central Depository, upon receiving Employer fringe benefit remittances, will divide up such remittances in accordance with the applicable contribution rates for each respective fund and send forward individual fund remittances to the appropriate destination.
CENTRAL DEPOSITORY. During the life of this Agreement, each Employer covered by this Agreement shall pay (i) the contributions payable to the several fringe benefit funds enumerated in Appendix A of this Agreement and (ii) union dues checked off in accordance with Article 2, Section H of this Agreement as specified in such Articles not later than the last day of the following month for which work was performed.
CENTRAL DEPOSITORY. The vendor will establish and maintain during the term of this Contract a single depository in the State to be known as the central depository. A sufficient inventory of instructional materials adopted by the Board will constantly be kept in stock at the depository. The location and manager of the depository must be approved by the Board. The manager will give a bond to the Board in the amount of $10,000, securing the depository's faithful performance of this Contract. The vendor further agrees that the depository manager will be the agent of the vendor to perform services required by this Contract.
CENTRAL DEPOSITORY. In the event a Central Depository for training contributions, fund contributions, fringe benefits contributions, check deductions, etc. is established, each employer agrees to make his contributions and check deductions to that Central Depository.
CENTRAL DEPOSITORY. Central Depository of Securities, a Slovak Republic entity created by Act. No. 566/2001 Coll., on Securities and Investment Services, as amended. Claim: A claim by the Buyer against one or both Sellers in connection with a breach of any of the Sellers’ Warranties, but not including a Tax Indemnification Claim.
CENTRAL DEPOSITORY. The Union and Associations will establish a Central Depository for all Employer fringe benefit contributions made under this Agreement, which shall provide the option for an electronic reporting and payment method. The Central Depository, upon receiving Employer fringe benefit remittances, will divide up such remittances in accordance with the applicable contribution rates for each respective fund and send forward individual fund remittances to the appropriate destination. The bargaining parties agree to: 1) Identify a Third-party Administrator that will administer the Central Depository; 2) Request resolutions from each of the third-party beneficiary funds that contributions remitted to the Central Depository by the fund’s respective due date shall be considered timely. Following the receipt of resolutions from all third-party beneficiary funds affirming that contributions can be timely remitted to a Central Depository on the fund’s respective due date, the bargaining parties will provide a minimum of 90 days’ notice to all contributing employers prior to implement the Central Depository structure. VARIABLE RATE DEFINED BENEFIT PENSION DESIGN