Nominated Account Sample Clauses

The Nominated Account clause designates a specific bank account to which payments under the agreement must be made. Typically, this clause identifies the account holder, bank details, and may require advance written notice for any changes to the account information. Its core practical function is to ensure that all parties have clarity and certainty regarding where funds should be transferred, thereby reducing the risk of misdirected payments and potential disputes.
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Nominated Account. You must ensure that there are sufficient funds in your nominated account to make all payments due under this facility. You authorise us to debit all amounts payable by you under this facility to your nominated account. You acknowledge that all the terms and conditions applying to your nominated account apply to all amounts debited to your nominated account under this facility. Any amounts payable by us to you under this facility will be credited to your nominated account.
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Nominated Account. The Bank will pay the Agent's Commission into an account nominated by the Agent.
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Nominated Account. An Account nominated by the Customer from which the Bank may debit all and any charges, fees or other sums whatsoever arising due or payable to the Bank by the Customer in connection with the Services. A unique number allocated to each Service User who is authorised to use the Direct Debit Scheme. For Direct Debit Service Users, this number is the same as the Service User Number.
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Nominated Account. 10.1 You must have a nominated account You agree to open and to maintain at least one nominated account. The initial nominated accounts are set out on the application form. 10.2 We pay money to and can withdraw from your nominated account You agree that we may: (a) pay cash payments and any other money received in respect of: • your custody investments, from your portfolio cash account to any of your nominated accounts • your other investments, to any of your nominated accounts, and (b) withdraw, transfer and credit any money to and from and otherwise operate any of your nominated accounts in accordance with your instructions. 10.3 Changing your nominated account In order to change a nominated account, you must provide written instructions, signed by you or your authorised signatory, and verification of your bank account details in a manner acceptable to us.
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Nominated Account. When You open Your savings account with Us, You’ll need to provide Us details of a personal UK bank or building society current account in Your name. This account will become Your Nominated Account – allowing You to make deposits and withdrawals to and from Your ▇▇▇▇▇ savings account. You can only have one Nominated Account associated with each ▇▇▇▇▇ savings account You hold. Your Nominated Account will need to be able to send and receive deposits and withdrawals via Faster Payments or CHAPS if the amount is above £250,000.
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Nominated Account. You may not close your Nominated Account during the Term of your Facility unless you nominate, and we agree to your nomination of, a replacement Nominated Account.
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Nominated Account. (a) The Mortgagee may require the Mortgagor to open and maintain a Nominated Account at a bank and branch approved by the Mortgagee (Nominated Bank) and: (i) nominated officers of the Mortgagee must be signatories to the Nominated Account; and (ii) no withdrawals can be made from the Nominated Account without the signature of one of those officers. (b) Following an Event of Default and while it subsists, the Mortgagor must deposit, or cause to be deposited, all Distributions into the Nominated Account. (c) The Mortgagor must: (i) give notice to the Nominated Bank of the charge of the Nominated Account of the Mortgagor; and (ii) use its best endeavours to obtain an acknowledgment from the Nominated Bank of that charge and the notice. (d) If requested by the Mortgagee, the Mortgagor must obtain an agreement from the Nominated Bank that: (i) it will not repay any money in the Nominated Account to the Mortgagor or any other person without the prior written consent of the Mortgagee; (ii) it waives all rights of set-off and combination in respect of the Nominated Account of the Mortgagor; (iii) it must not exercise any Security Interest in respect of the Nominated Account of the Mortgagor; and (iv) the agreement of the Nominated Bank must not be varied or terminated without the prior written consent of the Mortgagee.
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Nominated Account. On or before the date which is six (6) months after the Effective Date, each Party shall notify each other Party of its Nominated Account, including the jurisdiction where such bank account is held, account names, account numbers, sort code, IBAN and SWIFT identification (as relevant), and any payments due from a Party to another Party pursuant to this Agreement shall only be made to the relevant Nominated Account as notified pursuant to this Clause 14.8 (Nominated Account) and in accordance with Clause 14 (Invoicing).
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Related to Nominated Account

  • Designated Account Agent is authorized to make the Revolving Loans, and Issuing Bank is authorized to issue the Letters of Credit, under this Agreement based upon telephonic or other instructions received from anyone purporting to be an Authorized Person or, without instructions, if pursuant to Section 2.6(d). Borrowers agree to establish and maintain the Designated Account with the Designated Account Bank for the purpose of receiving the proceeds of the Revolving Loans requested by Borrowers and made by Agent or the Lenders hereunder. Unless otherwise agreed by Agent and Borrowers, any Revolving Loan or Swing Loan requested by Borrowers and made by Agent or the Lenders hereunder shall be made to the Designated Account.

  • Designated Accounts The Collection Account, the Note Distribution Account and the Reserve Account, collectively. Determination Date: The tenth day of each calendar month, or if such tenth day is not a Business Day, the next succeeding Business Day. Discount Rate: 0.00% per annum.

  • Segregated Account The Custodian shall, upon receipt of Proper Instructions, establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or investments, including investments maintained in an account by the Custodian pursuant to Section 2.10 hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered contract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or government investments in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by 1940 Act Release No. 10666, or any other procedures subsequently required under the 1940 Act relating to the maintenance of segregated accounts by registered investment companies, and (iv) for other purposes, but only, in the case of clause (iv) upon receipt of Proper Instructions specifying (a) the investments to be delivered, (b) setting forth the purpose for which such delivery is to be made, and (c) naming the person or persons to whom delivery of such investments shall be made.

  • Settlement Account 4.1 The Scheduling Coordinator shall maintain at all times an account with a bank capable of Fed-Wire transfer to which credits or debits shall be made in accordance with the billing and Settlement provisions of Section 11 of the CAISO Tariff. Such account shall be the account as notified by the Scheduling Coordinator to the CAISO from time to time by giving at least 20 days written notice before the new account becomes operational, together with all information necessary for the CAISO's processing of a change in that account.

  • Collection Account and Distribution Account (a) On behalf of the Trust Fund, the Servicer shall establish and maintain, or cause to be established and maintained, one or more accounts (each such account or accounts, a “Collection Account”), held in trust for the benefit of the Trust Fund and the Certificateholders. On behalf of the Trust Fund, the Servicer shall deposit or cause to be deposited in the related clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than two Business Days after the Servicer’s receipt thereof, and shall thereafter deposit in the Collection Account, in no event more than two Business Days after the deposit of good funds into the clearing account, as and when received or as otherwise required hereunder, the following payments and collections received or made by it subsequent to the related Cut-off Date (other than in respect of principal or interest on the Mortgage Loans due on or before the related Cut-off Date, or payments (other than Principal Prepayments) received by it on or prior to the related Cut-off Date but allocable to a Due Period subsequent thereto): (i) all payments on account of principal, including Principal Prepayments, on the Mortgage Loans; (ii) all payments on account of interest (net of the Servicing Fee and excluding any Prepayment Interest Excess) on each Mortgage Loan; (iii) all Insurance Proceeds and Net Liquidation Proceeds (other than proceeds collected in respect of any particular REO Property and amounts paid by the Servicer in connection with a purchase of the Mortgage Loans and REO Properties pursuant to Section 9.01); (iv) any amounts required to be deposited pursuant to Section 3.12 in connection with any losses realized on Permitted Investments with respect to funds held in the Collection Account; (v) any amounts required to be deposited by the Servicer pursuant to the second paragraph of Section 3.14(a) in respect of any blanket policy deductibles; (vi) all proceeds of any Mortgage Loan repurchased or purchased in accordance with Section 2.03, Section 3.16(c) or Section 9.01 and all Servicer Prepayment Premium Payment Amounts pursuant to Section 2.03(b)(ii); (vii) all Substitution Shortfall Amounts; and (viii) all Prepayment Premiums collected by the Servicer. For purposes of the immediately preceding sentence, the Cut-off Date with respect to any Qualified Substitute Mortgage Loan shall be deemed to be the date of substitution. The foregoing requirements for deposit in the Collection Accounts shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments in the nature of late payment charges, non sufficient funds fees, reconveyance fees, assumption fees and other similar fees and charges (other than Prepayment Premiums) need not be deposited by the Servicer in the Collection Account and shall, upon collection, belong to the Servicer as additional compensation for its servicing activities. In the event the Servicer shall deposit in the Collection Account any amount not required to be deposited therein, it may at any time withdraw such amount from the Collection Account, any provision herein to the contrary notwithstanding. (b) On behalf of the Trust Fund, the Trustee shall establish and maintain one or more accounts (such account or accounts, the “Distribution Account”), held in trust for the benefit of the Trust Fund and the Certificateholders. On behalf of the Trust Fund, the Servicer shall deliver to the Trustee in immediately available funds for deposit in the Distribution Account on or by 3:00 p.m. New York time on the Servicer Remittance Date, that portion of the Available Distribution Amount (calculated without regard to the references in clause (2) of the definition thereof to amounts that may be withdrawn from the Distribution Account) for the related Distribution Date then on deposit in the Collection Account, the amount of all Prepayment Premiums on the Mortgage Loans collected by the Servicer in connection with the voluntary Principal Prepayment in full or in part of any of the Mortgage Loans and any Servicer Prepayment Premium Payment Amounts then on deposit in the Collection Account (other than any such Prepayment Premiums received after the related Prepayment Period). If the Servicer fails to remit to the Trustee for distribution to the Certificateholders any payment, including any P&I Advance to be made by the Servicer on the Servicer Remittance Date (without regard to any grace period), the Servicer shall pay to the Trustee, for the account of the Trustee, interest on such late remittance from and including the Servicer Remittance Date to but excluding the date on which such remittance is made, at an annual rate equal to the Federal Funds Rate plus one percentage point (but in no event greater than the maximum permitted by law). (c) Funds in the Collection Account and the Distribution Account may be invested in Permitted Investments in accordance with the provisions set forth in Section 3.12. The Servicer shall give notice to the Trustee and the Depositor of the location of the Collection Account maintained by it when established and prior to any change thereof. The Trustee shall give notice to the Servicer and the Depositor of the location of the Distribution Account when established and prior to any change thereof. (d) Funds held in a Collection Account at any time may be delivered by the Servicer to the Trustee for deposit in an account (which may be the Distribution Account and must satisfy the standards for the Distribution Account as set forth in the definition thereof) and for all purposes of this Agreement shall be deemed to be a part of such Collection Account until the Servicer Remittance Date when such amounts are required to be deposited into the Distribution Account; provided, however, that the Trustee shall have the sole authority to withdraw any funds held pursuant to this subsection (d). In the event that the Servicer shall deliver to the Trustee for deposit in the Distribution Account any amount not required to be deposited therein, it may at any time request that the Trustee withdraw such amount from the Distribution Account and remit to it any such amount, any provision herein to the contrary notwithstanding. In addition, the Servicer shall deliver to the Trustee from time to time for deposit and in any event shall remit all such amounts no later than the Servicer Remittance Date, and the Trustee shall so deposit, in the Distribution Account: (i) any P&I Advances, as required pursuant to Section 4.03; (ii) any amounts required to be deposited pursuant to Section 3.23(d) or (f) in connection with any REO Property; (iii) any amounts to be paid by the Servicer in connection with a purchase of the Mortgage Loans and REO Properties pursuant to Section 9.01; and (iv) any related amounts required to be deposited pursuant to Section 3.24 in connection with any Compensating Interest.