Certificate Accounts. Any time deposit, term share, share certificate, or certificate of deposit account allowed by state law (certificate account), whichever we offer, is subject to the terms of this Agreement, the Truth-in-Savings Disclosure, and the Account Receipt for each account, the terms of which are incorporated herein by reference.
Certificate Accounts. (a) For each Series, the Trustee shall establish and maintain one or more Eligible Accounts (collectively, the "Certificate Accounts"), which shall be Securities Accounts and shall be held in trust in the name of the Trustee for its benefit and the benefit of Certificateholders of such Series. The Trustee on behalf of such Certificateholders shall possess all right, title and interest in all funds on deposit from time to time in each Certificate Account and in all proceeds thereof. With respect to each Series and in accordance with Section 2.06, the Certificate Accounts shall be under the sole dominion and control (including, without limitation, Securities Control) of the Trustee for the benefit of the related Certificateholders. With respect to each Series, not later than the close of business on the Business Day on which the Trustee receives such amounts in the form of immediately available funds (so long as such funds are received by the Trustee by 3:00 p.m., New York City time, and on the next Business Day otherwise), the Trustee shall deposit or cause to be deposited in the Certificate Accounts all amounts received by it with respect to the Deposited Assets, any Credit Support and all Liquidation Proceeds related to such Series including:
(i) all payments on account of principal of such Underlying Securities;
(ii) all payments on account of interest on such Underlying Securities;
(iii) all payments on account of premium (if any) on such Underlying Securities;
(iv) any payments in respect of any such Credit Support;
(v) any Advances made as required pursuant to Section 4.04; and
(vi) any interest or investment income earned on funds deposited in the related Accounts. Unless otherwise specified in the applicable Supplement, it is understood and agreed that payments in the nature of prepayment or redemption penalties, late payment charges, default interest or reinvestment income which may be received by the Trustee shall be deposited by the Trustee in the Certificate Account and shall not be retained by the Trustee for its own account. If, at any time, the Certificate Account for any Series ceases to be an Eligible Account, the Trustee shall within five Business Days (or such longer period, not to exceed 30 calendar days, as to which the Rating Agency Condition is met) establish a new Certificate Account meeting the conditions specified above and the Trustee shall within five Business Days transfer any cash and any investments on deposit in the Certifica...
Certificate Accounts. 27 Section 3.04. Distribution or Sale of the Underlying Securities........................... 28 Section 3.05. Investment of Funds in the Accounts......................................... 29 Section 3.06. Maintenance of Credit Support............................................... 30 Section 3.07. Realization upon Defaulted Underlying Securities............................ 30 Section 3.08. Retained Interest........................................................... 31 Section 3.09. Access to Certain Documentation............................................. 31 Section 3.10. Reports by the Depositor.................................................... 31 Section 3.11. Charges and Expenses........................................................ 32 ARTICLE IV DISTRIBUTIONS AND REPORTS TO CERTIFICATEHOLDERS
Certificate Accounts. Any time deposit, term share, share certificate, or certificate of deposit account allowed by state law ("Certificate Account"), whichever we offer, is subject to the terms of this Agreement, our business account rate sheet(s) and fee schedule(s), the Account Deposit Receipt(s), if provided, and any other documents we provide for the account, the terms of which are incorporated herein by reference. For accounts held at state chartered credit unions located in Wisconsin: Credit union liability for dividends declared by the board of directors on Certificate accounts and passbook savings accounts shall terminate without penalty to the Credit Union upon the Credit Union entering an involuntary dissolution procedure, or if the Director of Credit Unions shall take possession of the Credit Union under S.186.235 of the Wisconsin Statutes. Upon dissolution, the Director shall determine the priority of payout of the various classifications of savings. Wis. Admin Code DF-1-CU 60.06.
Certificate Accounts. (a) The Trust shall establish and -------------------- maintain with the Certificate Trustee on behalf of the Holders of Certificates of each Series or Class a Certificate Account with respect to such Series or Class as one or more accounts, which shall be non-interest bearing except as provided in Section 4.04, in the corporate trust department of an Eligible Institution, in the name of the Certificate Trustee for the benefit of such Certificateholders. The Certificate Trustee shall hold each Certificate Account in trust for the benefit of the Holders of Certificates of the corresponding Series or Class, and shall make or permit withdrawals therefrom only as provided in this Trust Agreement. On each day when a Payment or Special Payment (other than a Special Payment that represents the proceeds of any sale pursuant to Article V hereof by the Certificate Trustee of any Note) is made to the Certificate Trustee, as holder of Notes of any Series or Class, the Certificate Trustee upon receipt shall immediately deposit the aggregate amount of such Payment or Special Payment in the Certificate Account for the corresponding Series or Class of Certificates. If a Swap has been executed with respect to any Series or Class of Certificates, the proceeds of such Payment or Special Payment in any Certificate Account shall be applied to satisfy any Swap Payment, or if a payment is due to the Trust under the Swap, any Swap Revenue shall be credited to such Certificate Account. Upon the sale of any Note by the Certificate Trustee pursuant to Article V hereof and the realization of any proceeds thereof, the Certificate Trustee shall deposit the aggregate amount of such proceeds as a Special Payment in the Certificate Account for the Series or Class of Certificates corresponding to the Series or Class of the Note so sold.
(b) The Certificate Trustee shall present to the Note Trustee for payment each Note on its Final Maturity Date, or, in the case of any redemption or repayment of such Note in full prior to its Final Maturity Date, on the applicable Payment Date therefor.
Certificate Accounts. Any certificate is subject to the terms of this Agreement and the specific terms and disclosures set forth in the Truth-in-Savings Disclosure and Certificate Receipt for each account that is incorporated herein by reference.
Certificate Accounts. Any certificate account allowed by state law offered by the Credit Union, is subject to the terms of this Membership and Account Agreement. The Truth-in-Savings Disclosure, and the Certificate Account Receipt for each account outlines the terms of which are incorporated herein by reference.
Certificate Accounts. Any time deposit, term share, share certificate, or certificate of deposit account allowed by state law (“Certificate Account”), whichever we offer, is subject to the terms of this Agreement, Rate sheet(s) and Fee Schedule(s) at xxx.XxxxxxxxXX.xxx, the Account Deposit Receipt(s), if provided, and any other documents we provide for the account, the terms of which are incorporated herein by reference.
Certificate Accounts. (a) On or before the date of issuance of the Certificates of any Issue, the Trustee will open with an Eligible Depository one or more Certificate Accounts to hold funds for the benefit of Holders of the Certificates of the related Issue. A Certificate Account may also contain funds that the Trustee holds in trust for one or more Trusts or Other Xxxxxx Xxx Trusts, provided that the Trustee keeps, or causes to be kept, separate records of funds with respect to each Trust.
(b) The manner in which any Certificate Account is maintained may be changed at any time without notice to, or the approval of, Holders, so long as (i) that Certificate Account is maintained with an Eligible Depository and (ii) funds or investments held in that Certificate Account by, or for the account of, the Trustee of the related Trust or Trusts are at all times identified as such. Only the Trustee may transfer or otherwise exercise control over the funds or investments in any Certificate Account. The Trustee may move funds from one Certificate Account to another Certificate Account at any time, as long as the criteria specified in clauses (i) and (ii) above are satisfied.
(c) For each Issue, the Trustee will deposit all Trust Asset Distributions, received by it hereunder into the related Certificate Account. All Trust Asset Distributions deposited from time to time in any Certificate Account, and all investments made with such moneys will be held by the Trustee in such Certificate Account for the benefit of the Holders of Certificates of the related Trust as herein provided, subject to withdrawal by the Trustee for the purposes set forth in Section 5.04.
Certificate Accounts. 25 Section 4.02. Distributions from Certificate Accounts..................... 25 Section 4.03. Statements to Certificateholders............................ 27 Section 4.04. Investment of Special Payment Moneys........................ 28 Section 4.05. Reduction in Principal...................................... 28 ARTICLE V
