Temporary Modification to Minimum Over/Under Account Balance Sample Clauses

The "Temporary Modification to Minimum Over/Under Account Balance" clause allows for a short-term adjustment to the required minimum or maximum balances that must be maintained in a specified account. In practice, this means that the usual thresholds for overdrawn or excess funds can be temporarily raised or lowered, often in response to specific events or operational needs, such as seasonal fluctuations or anticipated large transactions. This clause provides flexibility to account holders or administrators, helping to prevent breaches of agreement terms during exceptional circumstances and ensuring smoother financial operations.
Temporary Modification to Minimum Over/Under Account Balance. From time to time, Seller may request that Buyer agree to a temporary increase or decrease of the Minimum Over/Under Account Balance (a “Temporary Modification to Minimum Over/Under Account Balance”). Buyer shall have the sole and absolute discretion to agree to or decline such request for a Temporary Modification to Minimum Over/Under Account Balance, in whole or in part, and no agreement to such Temporary Modification to Minimum Over/Under Account Balance shall be implied from Buyer’s failure to respond to any such request. If Buyer agrees to any such Temporary Modification to Minimum Over/Under Account Balance, Buyer and Seller shall complete a Confirmation that reflects the agreed upon terms for such Temporary Modification to Minimum Over/Under Account Balance. Such Temporary Modification to Minimum Over/Under Account Balance will be effective on the effective date specified in the Confirmation, only upon the execution of such Confirmation by both Buyer and Seller, and such Confirmation, together with the Transactions Terms Letter and this Agreement, shall constitute conclusive evidence of the terms agreed to between Buyer and Seller with respect thereto. In the event of any conflict between the Transactions Terms Letter, this Agreement and such Confirmation, the terms of the Confirmation shall control with respect to the related Temporary Modification to Minimum Over/Under Account Balance. For so long as a Temporary Modification to Minimum Over/Under Account Balance agreed to as provided in the foregoing paragraph is effective, (i) the Temporary Modification to Minimum Over/Under Account Balance shall be incorporated into the facility and subject to all of terms of this Agreement, the Transactions Terms Letter and the other Principal Agreements as if part of the initial facility, (ii) the Minimum Over/Under Account Balance shall include the Temporary Modification to Minimum Over/Under Account Balance for all purposes of the Transactions Terms Letter and this Agreement, and (iii) all calculations based on the Minimum Over/Under Account Balance shall include the Temporary Modification to Minimum Over/Under Account Balance. Unless otherwise terminated pursuant to the Agreement, the Temporary Modification to Minimum Over/Under Account Balance shall terminate on the termination date specified in the Confirmation. Upon the termination of any Temporary Modification to Minimum Over/Under Account Balance that has decreased the Minimum Over/Under Account Balanc...
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