Processing Distributions Clause Samples

The "Processing Distributions" clause defines how payments or distributions are handled and processed under the agreement. It typically outlines the procedures for calculating, timing, and delivering distributions to the relevant parties, and may specify the roles of any intermediaries or agents involved in the process. For example, it might detail how funds are allocated among beneficiaries or how deductions for fees and taxes are managed before final distribution. The core function of this clause is to ensure that all parties understand the mechanics and timing of distributions, thereby reducing confusion and disputes over payment handling.
Processing Distributions. Prepare and, subject to receipt of good funds therefore from the custodian for the applicable Fund, transmit to Shareholders (or credit the appropriate Shareholder accounts) payments for all distributions declared by the Trust with respect to Shares of a Fund.
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Processing Distributions. Prepare and, subject to receipt of good funds therefor from the custodian for the applicable Fund, transmit to Shareholders (or credit the appropriate Shareholder accounts) payments for all distributions declared by the Client with respect to Shares of a Fund. 4.1 ANTI-MONEY LAUNDERING ("AML") MATTERS ("AML SERVICES") The Client delegates to Citigroup the performance of the services set forth below (the "AML Services") with respect to shareholder accounts maintained by Citigroup pursuant to the Agreement; and subject to the terms and conditions of the Agreement, Citigroup accepts this delegation and agrees to perform the AML Services in accordance with the Client's and Citigroup's AML program. Notwithstanding this delegation, the Client shall maintain full responsibility for ensuring that its AML program is and continues to be reasonably designed to ensure compliance with the applicable AML laws. (a) Verify shareholder identity upon opening new accounts in accordance with Section 326 of the USA PATRIOT Act (the "PATRIOT ACT") and any regulations thereunder, as required under applicable law; (b) Monitor shareholder transactions and identify and report suspicious activities that are required to be so identified and reported, in each case consistent with the AML programs of the Client and Citigroup; (c) Submit all accounts through the Office of Foreign Asset Control ("OFAC") database and FinCEN's Control List; (d) Follow the Client's third party check policies; provided, however, that under no circumstance will Citigroup accept a corporate third party check; (e) Place holds on transactions in shareholder accounts or freeze assets in shareholder accounts, as provided in the AML programs of the Client and Citigroup and in accordance with the Patriot Act and OFAC; and (f) Maintain policies, procedures and internal controls that are consistent with the Client's AML program C-3 (Transfer Agency)
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Processing Distributions. The Bank shall work in conjunction with the Fund and its tax advisors to verify the amounts due to be distributed to the shareholders of the Fund in accordance with the Byelaws. Upon receipt of Proper Instructions indicating (i) that a distribution is due to be paid to the shareholders and (ii) the amount to be paid to each such shareholder, the Bank shall make such payment in accordance with such Proper Instructions and the provisions of the Byelaws.
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Processing Distributions. Prepare and, subject to receipt of good funds therefor from the custodian for the applicable Fund, transmit to Shareholders (or credit the appropriate Shareholder accounts) payments for all distributions declared by the Client with respect to Shares of a Fund. 4.1 ANTI-MONEY LAUNDERING ("AML") MATTERS ("AML SERVICES") (a) Verify shareholder identity upon opening new accounts in accordance with Section 326 of the USA PATRIOT Act (the "Patriot Act") and any regulations thereunder, as required under applicable law; (b) Monitor shareholder transactions and identify and report suspicious activities that are required to be so identified and reported, in each case consistent with the AML programs of the Client and Forum; (c) Submit all financial transactions through the Office of Foreign Asset Control ("OFAC") database and FinCEN's Control List; (d) Follow the Client's third party check policies; provided, however, that under no circumstance will Forum accept a corporate third party check; (e) Place holds on transactions in shareholder accounts or freeze assets in shareholder accounts, as provided in the AML programs of the Client and Forum and in accordance with the Patriot Act and OFAC; and (f) Maintain policies, procedures and internal controls that are consistent with the Client's AML program
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Processing Distributions. Distributions from the Plan will be processed on a Settlement Date as soon as administratively practicable (in accordance with such rules and procedures as may be established by the Plan Administrator or the Administrator) after the Participant, his Beneficiary, or Alternate Payee, as the case may be, files his request for benefits with the Administrator, provided that the date to process the distribution shall be no earlier than such Settlement Date which follows the deposit of contributions for the Participant’s final paycheck in the Trust. The amount of a distribution to a Participant, Beneficiary or Alternate Payee shall be based upon the value of the Participant’s Accounts as of the Settlement Date on which the distribution is processed and distributions shall be made as soon as administratively practicable after such Settlement Date in accordance with such rules and procedures as may be established by the Plan Administrator or the Administrator.
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Processing Distributions. The Bank shall work in conjunction with the Trust and its tax advisor to verify the amounts due to be distributed to the Holders of the Trust in accordance with the Declaration of Trust. Upon receipt of Proper Instructions indicating (i) that a distribution is due to be paid to the Holders and (ii) the amount to be paid to each such Holder, the Bank shall make such payment in accordance with such Proper instructions and the provisions of the Declaration of Trust.
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Processing Distributions. The Agent shall work in conjunction with each Master Portfolio and its tax advisors to verify the amounts due to be distributed to the Holders of the Master Portfolio in accordance with the Master Portfolio’s formation documents. Upon receipt of Proper Instructions indicating (i) that a distribution is due to be paid to the Holders and (ii) the amount to be paid to each such Holder, the Agent shall make such payment in accordance with such Proper Instructions and the provisions of the relevant Master Portfolio’s documentation.
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Processing Distributions. Prepare and, subject to receipt of good funds therefore from the custodian for the applicable Fund, transmit to Shareholders (or credit the appropriate Shareholder accounts) payments for all distributions declared by the Client with respect to Shares of a Fund. 4.1 Anti-Money Laundering ("AML") Matters ("AML Services") (a) Verify shareholder identity upon opening new accounts in accordance with Section 326 of the USA PATRIOT Act (the "Patriot Act") and any regulations thereunder, as required under applicable law; (b) Monitor shareholder transactions and identify and report suspicious activities that are required to be so identified and reported, in each case consistent with the AML programs of the Client and Forum; (c) Submit all financial transactions through the Office of Foreign Asset Control ("OFAC") database and FinCEN's Control List; (d) Follow the Client's third party check policies; provided, however, that under no circumstance will Forum accept a corporate third party check; (e) Place holds on transactions in shareholder accounts or freeze assets in shareholder accounts, as provided in the AML programs of the Client and Forum and in accordance with the Patriot Act and OFAC; and (f) Maintain policies, procedures and internal controls that are consistent with the Client's AML program 4.2 Notes and Conditions to AML Services (a) The Client authorizes Forum to take such actions in the performance of the AML Services as Forum deems appropriate and consistent with the Client's AML program and applicable AML Laws. (b) Forum agrees to furnish the Client its written program concerning anti-money laundering services rendered by Forum to its various clients. Forum agrees to notify the Client of any change to its anti-money laundering program that would materially impact the Client's AML Program.
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Processing Distributions. Prepare and, subject to receipt of good funds therefore from the custodian for the applicable Fund, transmit to Shareholders (or credit the appropriate Shareholder accounts) payments for all distributions declared by the Client with respect to Shares of a Fund. 4.1 Anti-Money Laundering ("AML") Matters ("AML Services") (a) Verify shareholder identity upon opening new accounts in accordance with Section 326 of the USA PATRIOT Act (the "Patriot Act") and any regulations thereunder, as required under applicable law; (b) Monitor shareholder transactions and identify and report suspicious activities that are required to be so identified and reported, in each case consistent with the AML programs of the Client and Forum; (c) Submit all financial transactions through the Office of Foreign Asset Control ("OFAC") database and FinCEN's Control List; (d) Follow the Client's third party check policies; provided, however, that under no circumstance will Forum accept a corporate third party check; (e) Place holds on transactions in shareholder accounts or freeze assets in shareholder accounts, as provided in the AML programs of the Client and Forum and in accordance with the Patriot Act and OFAC; and (f) Maintain policies, procedures and internal controls that are consistent with the Client's AML program 4.2 Notes and Conditions to AML Services (a) The Client authorizes Forum to take such actions in the performance of the AML Services as Forum deems appropriate and consistent with the Client's AML program and applicable AML Laws. (b) Forum agrees to furnish the Client its written program concerning anti-money laundering services rendered by Forum to its various clients. Forum agrees to notify the Client of any change to its anti-money laundering program that would materially impact the Client's AML Program.
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Related to Processing Distributions

  • Operating Distributions Subject to Section 5.2, the Company shall from time to time distribute to the Member such amounts in cash and other assets as shall be determined by the Member.

  • Liquidating Distributions Notwithstanding anything to the contrary in this Article VII or in Section 8.3 of the Master Agreement, upon the sale of the Property or the dissolution and liquidation of the Series in accordance with the provisions of this Agreement and of Section 8.3 of the Master Agreement, the proceeds of liquidation of the Series or the sale of the Property will be distributed within ninety (90) days of the date of sale of the Property or the dissolution and liquidation in the following order and priority: (i) First, to creditors of the Series, including the Members who are creditors, to the extent otherwise permitted by law, in satisfaction (whether by payment or the making of reasonable provision for payment thereof) of all debts, liabilities, obligations and expenses of the Series, including, without limitation, the expenses incurred in connection with the liquidation of the Series; and (ii) Second, to the Members pro rata in proportion to their holdings of Shares, with such Distributions to be made by the end of the Fiscal Year during which the liquidation occurs (or, if later, ninety (90) days after the date of the liquidation).

  • Interim Distributions At such times as may be determined by it in its sole discretion, the Trustee shall distribute, or cause to be distributed, to the Beneficiaries, in proportion to the number of Trust Units held by each Beneficiary relating to the Trust, such cash or other property comprising a portion of the Trust Assets as the Trustee may in its sole discretion determine may be distributed without detriment to the conservation and protection of the Trust Assets in the Trust.

  • Cash Distributions Whenever the Company intends to make a distribution of a cash dividend or other cash distribution, the Company shall give notice thereof to the Depositary at least twenty (20) days (or such other number of days as the Depositary and the Company may from time to time agree to) prior to the proposed distribution specifying, inter alia, the record date applicable for determining the holders of Deposited Securities entitled to receive such distribution. Upon the timely receipt of such notice, the Depositary shall establish an ADS Record Date upon the terms described in Section 4.9. Upon receipt of confirmation from the Custodian of the receipt of any cash dividend or other cash distribution on any Deposited Securities, or upon receipt of proceeds from the sale of any Deposited Securities or any other entitlements held in respect of Deposited Securities under the terms hereof, the Depositary will (i) if at the time of receipt thereof any amounts received in a Foreign Currency can, in the judgment of the Depositary (pursuant to Section 4.8), be converted on a practicable basis into Dollars transferable to the United States, promptly convert or cause to be converted such cash dividend, distribution or proceeds into Dollars (on the terms described in Section 4.8), (ii) if applicable and unless previously established, establish the ADS Record Date upon the terms described in Section 4.9, and (iii) distribute promptly the amount thus received (net of (a) the applicable fees and charges of, and expenses incurred by, the Depositary and (b) taxes withheld) to the Holders entitled thereto as of the ADS Record Date in proportion to the number of ADSs held as of the ADS Record Date. The Depositary shall distribute only such amount, however, as can be distributed without attributing to any Holder a fraction of one cent, and any balance not so distributed shall be held by the Depositary (without liability for interest thereon) and shall be added to and become part of the next sum received by the Depositary for distribution to Holders of ADSs outstanding at the time of the next distribution. If the Company, the Custodian or the Depositary is required to withhold and does withhold from any cash dividend or other cash distribution in respect of any Deposited Securities an amount on account of taxes, duties or other governmental charges, the amount distributed to Holders on the ADSs representing such Deposited Securities shall be reduced accordingly. Such withheld amounts shall be forwarded by the Company, the Custodian or the Depositary to the relevant governmental authority. Evidence of payment thereof by the Company shall be forwarded by the Company to the Depositary upon request.

  • Accounts Distributions (a) On or prior to the Closing Date, the Issuer shall cause the Servicer to establish and maintain, in the name of the Indenture Trustee for the benefit of the Owners and the Note Insurer, the Accounts as provided in the Sale and Servicing Agreement. The Indenture Trustee shall deposit amounts into the Accounts in accordance with the terms hereof and the Sale and Servicing Agreement. (b) On or before the Monthly Remittance Date prior to each Payment Date, the Servicer shall withdraw from the Principal and Interest Account the amounts specified in Section 3.03(a) of the Sale and Servicing Agreement and will deliver such amount to the Indenture Trustee for deposit into the Pool I Note Account. No later than the Business Day prior to each Payment Date, to the extent funds are available in the Pool I Note Account, the Indenture Trustee shall either retain funds in the Pool I Note Account or make the withdrawals from the Pool I Note Account and deposits into the other Accounts for distribution on such Payment Date as required pursuant to Section 3.03(b) of the Sale and Servicing Agreement. (c) On each Payment Date and the Redemption Date, to the extent funds are available in the Pool I Note Account, the Indenture Trustee shall make the following distributions from the amounts on deposit in the Pool I Note Account in the following order of priority (except as otherwise provided in Section 5.4(b)): (i) to the Owners of the Notes, the Current Interest for such Payment Date; provided, that if there are not sufficient funds in the Pool I Note Account to pay the entire amount of accrued and unpaid interest then due on the Notes, the amount in the Pool I Note Account shall be applied to the payment of such interest on the Notes pro rata on the basis of the total such interest due on the Notes; and (ii) to the Owners of the Notes, the Pool I Principal Payment Amount for such Payment Date until the Pool I Note Principal Balance is reduced to zero. (d) The Indenture Trustee shall make claims in respect of the Home Equity Loans under the Note Insurance Policy pursuant to Section 7.02 of the Sale and Servicing Agreement and in accordance with the Note Insurance Policy. The Indenture Trustee shall deposit any Insured Payment received from the Note Insurer in respect of the Notes in the Pool I Note Account. All amounts received under the Note Insurance Policy in respect of the Notes shall be used solely for the payment to Owners of principal and interest on the Notes.