Opening and Supervision of Accounts Clause Samples

Opening and Supervision of Accounts. The Borrower shall open the following accounts with the Lender, for the purposes of, among other things, release and payment of the Loan funds, repayment and settlement of the Loan, preparation for the repayment, and collection of the income of the project. 1) The release and payment of the Loan shall be handled through the loan account, which shall be solely used for the release and payment of the Loan funds. 2) The Borrower owill þwill not open a special loan account. Account number: 3) The Borrower will open a loan repayment and settlement account (account number: 1001200001920171026), which will be used for the repayment of the Loan, and accounting and settlement of transfer and other fees in respect of the Loan funds. This account þis ois not a loan account. 4) The Borrower owill þwill not open a special project income account, which will be used for collecting all the income of the project received prior to the full payment of the principal of the Loan and interest thereon. Account number: 1001200001920171026 The terms and conditions for payments by the account are as follows: .
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Opening and Supervision of Accounts. A. Account Documentation Correspondent shall be responsible for obtaining and verifying all required information and the identity of each potential Customer. Correspondent shall be responsible for the maintenance and retention of all account applications and Correspondent hereby acknowledges its obligation to retain account applications in an easily accessible place in accordance with the Laws and Rules and agrees to provide the original application to ICS by overnight delivery within 24 hours of a request from ICS. All account documentation shall be on the forms provided by ICS for that purpose, or, alternatively, prepared by Correspondent at its expense and approved in writing by ICS, in either case in a format compatible with ICS’ computerized accounting and records maintenance systems. In accordance with ICS’ procedures, Correspondent shall notify ICS promptly of any changes or corrections in any information, instructions or documents previously forwarded to ICS. Correspondent shall be responsible for obtaining, updating, and maintaining correct customer addresses, and ICS may for all purposes rely, without verification, on the accuracy of such addresses and all other information and documents furnished by Correspondent to ICS regarding any Account. Correspondent shall be solely and exclusively responsible for complying with the requirements of Rule 15g-9 under the 1934 Act, if applicable. Correspondent shall also promptly furnish ICS with such additional information or documentation as ICS may request from time to time. B. Knowledge of Customer and Customer’s Investment Objectives Correspondent shall be solely and exclusively responsible through a general partner, a principal executive officer or a person designated for supervisory responsibilities to use due diligence to learn the essential facts relative to every Customer and Account, every order for any Account, and every person holding power of attorney over any Account, and to supervise diligently all Accounts handled by Correspondent’s registered representatives so as to be in full compliance with all Laws and Rules. The preparation or possession of surveillance records, exception reports and other similar data by ICS shall not obligate ICS to establish policies, practices or procedures relating to such materials. Correspondent shall be solely and exclusively responsible for ensuring that the Customers are not minors and do not otherwise lack the capacity to enter into a contract and are not pro...
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Opening and Supervision of Accounts. The Borrower shall open the following accounts with the Lender, for the purposes of, among other things, release and payment of the Loan funds, repayment and settlement of the Loan, and collection of funds. 1) The release and payment of the Loan shall be handled through the loan account, which shall be solely used for the release and payment of the Loan funds. 2) The Borrower owill þwill not open a special loan account. Account number: ______ 3) The Borrower will open a loan repayment and settlement account (account number: 1001200001920171026), which will be used for the repayment of the Loan, and accounting and settlement of transfer and other fees in respect of the Loan funds. This account þis ois not a loan account. 4) The Borrower designates the following account as its special account for collection of funds, and will promptly provide information about the receipts and payments of the account, and accept the supervision of the account by the Lender. Account number: ______
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Opening and Supervision of Accounts 
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Related to Opening and Supervision of Accounts

  • Board Supervision All of the functions undertaken by the Investment Manager hereunder shall at all times be subject to the direction of the Board of Directors, its executive committee, or any committee or officers of the Company acting under the authority of the Board of Directors.

  • Supervision of Contractor Personnel The Contractor must supply all necessary and sufficient supervision over the work that is being performed and will be held solely responsible for the conduct and performance of his employees or agents involved in work under the Agreement.

  • SITE SUPERVISION 1.9.1 Contractor shall provide adequate supervision of his employees to ensure complete and satisfactory performance of all work in accordance with the terms of the contract. Contractor shall have a responsible supervisor on the job at all times when the work of the contract is being carried out. 1.9.2 Contractor's site supervisor shall be responsible for communication with the State's representatives and shall meet with the Project Manager at the site on a weekly basis to discuss project status, including any problems, ideas, or concerns related to the project work. 1.9.3 Contractor and its employees shall be subject to all applicable State and Federal statutes and regulations for the conduct of personnel. 1.9.4 The Contractor shall provide adequate supervision of his/her subcontractors and their employees at all times.

  • CONTRACTOR SUPERVISION Contractor shall provide competent supervision of personnel employed on the job Site, use of equipment, and quality of workmanship.

  • Student Supervision Central Issues as they affect Occasional Teacher Workload