Monies held by us Sample Clauses

Monies held by us. 6.1 Subject to clauses 6.3 to 6.4 below, Account Money accepted by us from you, or for you from a third party, in connection with the Service will be treated as Client Money in accordance with the FCA rules, which means that it will be segregated from our other monies and held in trust in a pooled designated client bank account with monies from other clients at National Westminster Bank plc (or at any other authorised deposit taking institution that we may from time to time nominate. 6.2 Clause 6.3 below describes the kind of designated client bank account in which Account Money may be held. Clause 6.4 below describes when we are not obliged to treat money due to or from you as Client Money. 6.3 Account Money may be held in a designated client bank account which may restrict withdrawals for up to 95 days. We maintain a client money policy which states the maximum amounts which we would place in such accounts, the reasons for using such accounts and the risks of doing so. As per our client money policy, we will ensure that at least 10% of the total client money pool is held outside these unbreakable term deposits (i.e. immediately available, or available within 30 days). All client money is held with institutions that meet our risk management parameters – these parameters include credit ratings, capital requirements and whether deposits held are protected by government schemes (such as the Financial Services Compensation Scheme (FSCS) in the UK). 6.4 You agree that we will not be obliged to treat monies as Client Money in respect of a delivery versus payment transaction through a Commercial Settlement system if it is intended that: i) in respect of a purchase of investments by you, money from you will be due to us within one Business Day upon fulfilment of the delivery obligation; and ii) in respect of a sale of investments by you, money is due to you within one Business Day following fulfilment of the delivery obligation, unless in either case the payment or delivery has not occurred by the close of business on the third Business Day following the date on which payment or delivery was due. 6.5 Account money committed for investment will be debited from the Account at the time of a Transaction and may be transferred to a designated client money settlement account. Interest shall accrue for our benefit pending settlement once monies have been committed for investment. 6.6 Ad hoc payment requests and cash transfers will only be made for amounts of more than £...
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Related to Monies held by us

  • Repayment of Monies Held by Paying Agent In connection with the satisfaction and discharge of this Indenture with respect to the Notes, all monies then held by any Paying Agent other than the Indenture Trustee under the provisions of this Indenture with respect to such Notes shall, upon demand of the Issuer, be paid to the Indenture Trustee to be held and applied according to Section 3.03 and thereupon such Paying Agent shall be released from all further liability with respect to such monies.

  • Securities Held by the Company Whenever the consent or approval of Holders of a specified percentage of principal amount of Securities is required hereunder, Securities held by the Company or its affiliates (other than subsequent Holders of Securities if such subsequent Holders are deemed to be affiliates solely by reason of their holdings of such Securities) shall not be counted in determining whether such consent or approval was given by the Holders of such required percentage.

  • Securities Held by the Company, etc Whenever the consent or approval of Holders of a specified percentage of principal amount of Securities or New Securities is required hereunder, Securities or New Securities, as applicable, held by the Company or its Affiliates (other than subsequent Holders of Securities or New Securities if such subsequent Holders are deemed to be Affiliates solely by reason of their holdings of such Securities or New Securities) shall not be counted in determining whether such consent or approval was given by the Holders of such required percentage.

  • Moneys Held by Paying Agent In connection with the satisfaction and discharge of this Indenture, all moneys then held by any Paying Agent under the provisions of this Indenture shall, upon written demand of the Issuer, be paid to the Trustee, or if sufficient moneys have been deposited pursuant to Section 9.04, to the Issuer (or, if such moneys had been deposited by the Guarantors, to such Guarantors), and thereupon such Paying Agent shall be released from all further liability with respect to such moneys.

  • Notes Held by Company, Etc Solely for the purpose of determining whether the holders of the requisite percentage of the aggregate principal amount of Notes then outstanding approved or consented to any amendment, waiver or consent to be given under this Agreement or the Notes, or have directed the taking of any action provided herein or in the Notes to be taken upon the direction of the holders of a specified percentage of the aggregate principal amount of Notes then outstanding, Notes directly or indirectly owned by the Company or any of its Affiliates shall be deemed not to be outstanding.