INTEREST BEARING TRUST ACCOUNT Sample Clauses

INTEREST BEARING TRUST ACCOUNT. (check if applicable ) Escrow Agent is directed to deposit trust funds hereunder in an interest bearing account with the interest thereon accruing for the benefit of the . In the event of default by the Buyer, any accrued interest on funds so held shall be treated as an additional xxxxxxx money and shall be disbursed according to the terms of Paragraphs 16 and 20 of this agreement.
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INTEREST BEARING TRUST ACCOUNT. Any interest accruing on trust funds deposited in the IOLTA trust account of Seller’s attorney is payable to the State of Iowa.
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INTEREST BEARING TRUST ACCOUNT. (check if applicable funds hereunder in an interest-bearing account with the interest ). Escrowee is directed to deposit trust thereon accruing for the benefit of the . In the event of default by the Buyer, any accrued interest on funds so held shall be treated as an additional xxxxxxx money and shall be disbursed according to the terms of Paragraphs 14 and 20 of this Contract.
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INTEREST BEARING TRUST ACCOUNT. By execution of this agreement, the County will establish an interest bearing trust account (the “Trust Account”) into which all rent or other revenues generated by County Properties shall be deposited. It is the intention of the County that 50% of the principal and interest in the Trust Account for the property shall be available at any time to fund work related to planning and implementing general management, agricultural management, maintenance, operation and improvements on the County Properties in a manner consistent with restoration, enhancement and protection of the natural features and communities found on the County Properties and neighboring properties. The amount and timing of Trust Account expenditures shall be in the sole discretion and control of the County. For purposes of preparing pro forma business plans for the Long Term Plan and for purposes of preparing each Annual Plan (as described in EXHIBIT B), BLM may assume (a) that all rents and other revenues generated by the County Properties will be deposited into the Trust Account; and (b) that 50% of the principal and interest at any time in the Trust Account for the County Properties, together with 50% of the projected revenues to be generated by the County Properties that season shall be available for expenditure for operational or capital improvements that will be contained in BLM’s Annual Plan and Budget.
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Related to INTEREST BEARING TRUST ACCOUNT

  • Trust Account (i) The Purchaser hereby acknowledges that it is aware that the Company will establish the Trust Account for the benefit of its public stockholders upon the IPO Closing. The Purchaser, for itself and its affiliates, hereby agrees that it has no right, title, interest or claim of any kind in or to any monies held in the Trust Account, or any other asset of the Company as a result of any liquidation of the Company, except for redemption and liquidation rights, if any, the Purchaser may have in respect of any Public Shares held by it.

  • Custodial Account Funds in any custodial accounts established by the Servicer and maintained in respect of the REMIC may be invested and, if invested, shall be invested in Eligible Investments selected by the Servicer which shall mature not later than the Business Day immediately preceding the next Remittance Date, and any such Eligible Investment shall not be sold or disposed of prior to its maturity. All such Eligible Investments shall be made in the name of the REMIC or its nominee. All income and gain realized from any such investment shall be, as long as the Servicer is servicing the Mortgage Loans held by the REMIC, for the benefit of the Servicer as additional compensation and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the relevant account by the Servicer out of its own funds immediately as realized. The foregoing requirements for deposit in such account are exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments of interest on funds in such account and, as long as the Servicer is servicing the Mortgage Loans held by the REMIC, payments in the nature of prepayment fees, late payment charges, assumption fees or any similar fees customarily associated with the servicing mortgage loans paid by any mortgagor need not be deposited by the Servicer in such account and may be retained by the Servicer as additional servicing compensation. If the Servicer deposits in such account any amount not required to be deposited therein, it may at any time withdraw such amount, any provision herein to the contrary notwithstanding.

  • Payment Account (a) On or prior to the Closing Date, the Property Trustee shall establish the Payment Account. The Property Trustee and any agent of the Property Trustee shall have exclusive control and sole right of withdrawal with respect to the Payment Account for the purpose of making deposits in and withdrawals from the Payment Account in accordance with this Trust Agreement. All monies and other property deposited or held from time to time in the Payment Account shall be held by the Property Trustee in the Payment Account for the exclusive benefit of the Securityholders and for distribution as herein provided, including (and subject to) any priority of payments provided for herein.

  • Reserve Account (a) On the Closing Date, the Seller shall deposit the Specified Reserve Balance into the Reserve Account. Amounts held from time to time in the Reserve Account shall be held by the Trust Collateral Agent for the benefit of the Noteholders.

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