Security for Deposits. All moneys deposited with the Trustee under the provisions of this Indenture shall be held in trust and applied only in accordance with the provisions of this Indenture and shall not be subject to lien (other than the lien created hereby) or attachment by any creditor of the Trustee or the Issuer.
Security for Deposits. All moneys deposited with the Trustee under the provisions of this Agreement or the Loan Agreement shall be held in trust and applied only in accordance with the provisions of this Agreement and shall not, except as otherwise provided in Section 902 of this Agreement, be subject to lien or attachment by any creditor of the Authority or the Borrower. Such money shall be held in trust and applied in accordance with the provisions of this Agreement. ---All moneys deposited with the Trustee under this Agreement and the Loan Agreement in excess of the amount guaranteed by the Federal Deposit Insurance Corporation or any successor or similar federal agency shall be continuously secured for the benefit of the Authority, the Holders of the Bonds and the Letter of Credit Issuer, either: (a) by lodging with a bank or trust company approved by the Authority and by the Trustee, as custodian or, if then permitted by law, by setting aside under control of the trust department of the bank holding such deposit, as collateral security, Government Obligations or, with the approval of the Trustee, other marketable securities eligible as security for the deposit of trust funds under regulations of the Comptroller of the Currency of the United States of America or applicable Commonwealth law or regulations, having a market value (exclusive of accrued interest) not less than the amount of such deposit; or (b) if the furnishing of security as provided in clause (a) above is not permitted by applicable law, in such other manner as may then be required or permitted by applicable Commonwealth or federal laws and regulations regarding the security for, or granting a preference in the case of, the deposit of trust funds; provided, however, that it shall not be necessary for the Trustee to give security for any moneys which shall be represented by the investments purchased under the provisions of this Article as an investment of such moneys. ---Subject to the provisions of Section 602, all money deposited with the Trustee shall be credited to the particular fund or account to which such money belongs.
Security for Deposits. All moneys held hereunder by any Fiduciary shall be held in trust and continuously and fully secured for the benefit of the Authority and the Owners of the Bonds in the manner required by this Article; provided, however, that it shall not be necessary for any Fiduciary to give security for the deposit of any moneys with them held in trust for the payment of the principal or Redemption Price of or interest on the Bonds, or for the Fiduciaries to give security for any moneys which shall be represented by obligations purchased under the provisions of this Indenture as an investment of such moneys.
Security for Deposits. All amounts deposited with HRTAC or the Trustee under the Master Indenture in excess of the amount guaranteed by the Federal Deposit Insurance Corporation or other federal agency shall be continuously held in bank accounts which are secured for the benefit of HRTAC and the Owners of the Bonds in the manner required and to the full extent permitted by the Virginia Security for Public Deposits Act, Chapter 44 of Title
Security for Deposits. All money held by the Trustee or the Tender Agent hereunder in excess of the amount guaranteed by the Federal Deposit Insurance Corporation or other federal agency shall, unless the unsecured general obligations of such Person are rated in either of the two highest rating categories (without regard to subcategories) by each Rating Service, be continuously secured by the Trustee, for the benefit of the owners of such money, the Bondholders, and the Credit Facility Providers in any manner as may then be required or permitted by applicable state or federal laws and regulations regarding the security for, or granting a preference in the case of, the deposit of trust funds; provided, however, that it shall not be necessary for any such Person to give such security for the deposit with it of any money to be used to pay principal, premium, if any, or interest which is at the time of such deposit due and payable with respect to any Bonds, or for the Trustee to give security for any money which shall be represented by obligations purchased under the provisions of Section 5.05 as an investment of such money. Any banking account (other than an Investment Security) to which money credited to the Interest Fund, the Principal Fund, the Redemption Fund, the Credit Facility Fund, or the Purchase Fund is credited shall be maintained (1) in the name of the Trustee and (2) with a federal or state-chartered depository institution or trust company that has an S&P short-term debt rating of at least “A-2” or, if no short-term debt rating, a long-term debt rating of “BBB+”. In the event that any such account no longer satisfies Clause (2) of the preceding sentence, the Trustee shall promptly (and, in any case within not more than 60 calendar days) move the balance of such account to another account with another financial institution that satisfies such Clause (2). * * *
Security for Deposits. All amounts deposited with NVTC or the Trustee under the Master Indenture that are not invested pursuant to Section 11.2 below shall be continuously held in bank accounts which are secured for the benefit of NVTC and the Owners of the Bonds in the manner required and to the full extent permitted by the Virginia Security for Public Deposits Act, Chapter 44 of Title 2.2 of the Virginia Code or any successor provision of law; provided, however, that it shall not be necessary for the Trustee to give security for the deposit of any amounts with it for the payment of the principal of or premium, if any, or interest on any Bonds issued under the Master Indenture, or for any Person to give security for any investments described in Section 11.2 below purchased under the provisions of this Article XI as an investment of such amounts.
Security for Deposits. All non-invested money held in the funds created by this Indenture that is on deposit with any bank will be continuously secured in the manner required by the Virginia Security for Public Deposits Act (Chapter 44 of Title 2.2 of the Code of Virginia of 1950, as amended) or any successor provision of law.
Security for Deposits. Generally. Bank promises that all funds of County which are on deposit with Bank will be insured by the Federal Home Loan Bank of Dallas, to the extent permitted by law, and secured in compliance with the provisions of the Public Funds Collateral Act as it presently exists or is hereafter amended, and any other applicable local, state or federal laws, by pledging certain securities as collateral to County. Allegiance Bank, desires to qualify as such Depository by pledging securities with the Commissioners' Court in the amount provided by law under Section 116.058, Local Government Code, specifically Federal Home Loan Bank Letters of Credit and Securities eligible under Texas Government Code, 2257.002 (4)(F). Provided that the market value of securities which the bank is obligated to pledge is never below the total deposits. Once Letters of Credit are issued by the Federal Home Loan Bank on behalf of the Jefferson County, TX the original Letter of Credit will remain in the possession of the County for the duration of the contract. The bank will monitor daily, the balances of all County deposits to ensure adequate collateral coverage per the Texas Public Funds Code 2257. Monthly collateral reports will be provided to the County, if the County requires confirmation of collateral it can be requested of the bank at any time and provided to the County in a timely manner. Depositor may sell all or any part of such collateral and out of the proceeds thereof, pay Depositor all damages and losses sustained together with any expenses incurred by it of any kind on account of such failure. Collateral may be sold by Depositor at public or private sale provided however that Depository shall have one business day notice of the time and place of the sale, and Depository and Custodian shall have the right to bid at such sale. When securities pledged hereunder shall be in excess of the amount required under the provisions of Section 116.054, Local Government Code, and other pertinent statutes, the Commissioners' Court shall permit the release of such excess. When the funds on deposit with said Depository Bank shall for any reason increase beyond the amount of security provided, said Bank shall immediately pledge additional securities to the Commissioners' Court hereunder to the end that securities pledged shall at no time be less than the total amount of funds on deposit in the Depository Bank and covered by this Depository Contract.
Security for Deposits. Except as otherwise provided herein, all moneys received by the Corporation pursuant to this Master Trust Agreement, whether as proceeds from the sale of Obligations or as Pledged Revenues, shall be deemed to be trust funds, to be held and applied solely as provided in this Master Trust Agreement or applicable Supplemental Agreement. Any officer to whom, or any Bank to which, such moneys shall be paid shall act as trustee of such moneys and shall hold and apply the same for the purposes thereof, subject to such regulation as State law and this Master Trust Agreement provide. All moneys held by and deposited with the Trustee (including all moneys held on time deposit, under certificates of deposit, or under any other similar arrangements), and not invested as provided in this Master Trust Agreement, shall be continuously secured, for the benefit of the Corporation and the Owners of the Obligations, by the Trustee with its own trust department as collateral security which qualifies as collateral pursuant to the Public Funds Collateral Act, Chapter 2257, Texas Government Code. Section 602. Investment of Moneys; Time Deposits or Other Arrangements in Lieu of Investments. Moneys held for the credit of the Reserve Accounts shall, as nearly as may be practicable, be invested and reinvested by the Trustee, as directed by the Corporation, in Permitted Investments which shall mature, or shall be subject to redemption by the holder thereof at the option of such holder, not later than ten (10) years after the date of such investment. Moneys held for the credit of the Revenue Fund, the Project Fund, the Interest Accounts and the Principal/Redemption Accounts shall be invested and reinvested by the Trustee, as directed by the Corporation, in Permitted Investments which shall mature, or which shall be subject to redemption by the holder thereof at the option of such holder, not later than the respective dates which will allow moneys to be available in each of such funds and accounts for use at the appropriate times and for the purposes for which they were created. In lieu of the investments as provided above, and at the option of the Corporation, and in any other case where the Corporation deems it advisable, the Corporation may make interest bearing time deposits, invest in certificates of deposit, or make other similar arrangements with the Trustee in connection with moneys in any fund or account created by this Master Trust Agreement, as may be permitted by law, and w...
Security for Deposits. (A) All moneys deposited with the Trustee under the provisions of this Trust Agreement or the Loan Agreement shall be held in the trust and applied only in accordance with the provisions of this Trust Agreement and the Loan Agreement and shall not be subject to the lien or attachment by any creditor of the Authority or the Borrower. -------------------
