Moneys Received Clause Samples

The 'Moneys Received' clause defines how funds collected or received by a party, typically on behalf of another, are to be handled and accounted for. In practice, this clause may require the receiving party to promptly deposit such funds into a designated account, keep accurate records, and remit the amounts to the rightful owner within a specified timeframe. Its core function is to ensure transparency and proper management of funds, thereby preventing misappropriation and disputes over financial transactions.
Moneys Received as soon as practicable on receipt of any moneys received on behalf of the Company pay such moneys into a bank account held in the name of the Company;
View SourceView Similar (4)
Moneys Received. In applying any moneys towards satisfaction of the Secured Moneys, the Trustee will be credited only with so much of the moneys available for that purpose as the Security Trustee or the Receiver has actually received and is not required for whatever reason to be disgorged, such credit to date from the time of such receipt.
View SourceView Similar (3)
Moneys Received. Each Trustee shall be chargeable only for such moneys as shall have actually been received by that Trustee although that Trustee may have joined in any receipt for money received by any other Trustee. No Trustee shall be answerable for the acts of any other Trustee nor for any loss which may arise by reason of any Trust Funds being lawfully deposited in the hands of any banker, solicitor, or agent, or for the sufficiency, insufficiency, or deficiency of any security upon which any trust money or any part thereof may be invested or for any loss in the execution of any trust unless the same shall happen through his or her neglect or default.
View Source
Moneys Received. Each Chargor shall pay into such ▇▇▇▇▇▇▇'s account as the Lender may direct all moneys which it receives in respect of any Debts, Securities, Insurances, Intellectual Property, Rents and any other of the rights and claims charged to the Lender under Clause 3.1.3, and not withdraw any moneys from that account unless the Lender permits it to do so, and until such payment hold all moneys so received upon trust for the Lender and shall not without the prior written consent of the Lender charge, factor, discount or assign any of them in favour of any other person, or otherwise deal with them except for the purpose of collecting them in and paying them as required by this Clause.
View Source

Related to Moneys Received

  • Collections Received Each of the SPV and the Master Servicer shall hold in trust, and deposit, immediately, but in any event not later than one Business Day of its receipt thereof, to a Blocked Account or, if required by Section 2.9, to the Collection Account, all Collections received by it from time to time.

  • Copy Received You acknowledge that you have received a copy of this Agreement.

  • Moneys to be Held in Trust Subject to the provisions of Section 12.4, all moneys received by the Trustee or any paying agent shall, until used or applied as herein provided, be held in trust for the purpose for which they were received, but need not be segregated from other funds except to the extent required by law. The Trustee and any paying agent shall be under no liability for interest on any money received by it hereunder except as otherwise agreed in writing with the Company. So long as no Event of Default shall have occurred and be continuing, all interest allowed on any such moneys shall be paid from time to time upon the written order of the Company, signed by the Chairman of the Board of Directors, the Chief Executive Officer, the President, a Managing Director, a Vice President, the Treasurer or an Assistant Treasurer of the Company.

  • Moneys Held in Trust Subject to the provisions of Section 11.05, all moneys received by the Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which they were received, but need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest on any moneys received by it hereunder except such as it may agree with the Company to pay thereon.

  • Recoveries If we pay an insured for loss under this policy and lost or damaged property is recovered or payment is made by those responsible for the loss, the following provisions apply: a. The insured must notify us or we will notify the insured promptly if either recovers the property or receives payment. b. Any proper expenses incurred by either party in making the recovery are reimbursed first. c. The insured may keep recovered property by refunding us the amount of the claim paid or any lesser amount to which we agree. d. If the claim paid is less than the agreed loss due to a deductible, special limit of insurance or other limiting terms of the policy, any recovery will be pro-rated between the insured and us based on our respective interests in the loss.