Creation of Trust Account Sample Clauses

Creation of Trust Account. Revenue shall be deposited into a Trust Account of TREBUCHET managed by a managing lawyer, or its designee, to be selected by TREBUCHET and such managing lawyer shall act at the instruction or direction of TREBUCHET (“Managing Lawyer”).
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Creation of Trust Account. (a) Grantor hereby establishes the Trust Account with Trustee for the sole use and benefit of Beneficiary, under the terms set forth herein. Trustee shall administer the Trust Account in its name as Trustee for the sole use and benefit of Beneficiary. The Trust Account shall be subject to withdrawal by Beneficiary solely as provided herein. Trustee hereby accepts the Trust Account upon the terms set forth in this New York Trust Agreement.
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Creation of Trust Account. There is hereby created and established with the Trustee a special and irrevocable trust account to be designated the "NL Industries, Inc. Redemption Trust Account" (the "Redemption Account"). All moneys received pursuant to this Agreement shall be deposited and held in the Redemption Account and may, upon Company Order, be invested in short term United States Treasury securities maturing on or before the Redemption Date, which securities shall be held in the Redemption Account.
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Creation of Trust Account. There is hereby created and established with the Trustee a special and irrevocable trust account to be designated the “Redemption Trust Account” (the “Redemption Account”). All moneys deposited pursuant to this Agreement shall be deposited, and all investments and proceeds thereof representing principal shall be held, in the Redemption Account and applied as provided in this Agreement.
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Creation of Trust Account. (a) Grantor hereby establishes the Supplemental Trust Account with Trustee for the sole use and benefit of Beneficiary, under the terms set forth herein. Trustee shall administer the Supplemental Trust Account in its name as Trustee for the sole use and benefit of Beneficiary. The Supplemental Trust Account shall be subject to withdrawal by Beneficiary solely as provided herein. Trustee hereby accepts the Supplemental Trust Account upon the terms set forth in this Supplemental Trust Agreement. The Supplemental Trust Account is not established for credit for reinsurance purposes and is not subject to Rule 56 (Credit for Reinsurance) of Title 760 of the Indiana Administrative Code.
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Creation of Trust Account. In order for Arngre to have any rights hereunder with respect to a Project, it shall be obligated to deposit with a banking institution identified by Xxxxxx the lesser of (a) $750,000 U.S. or (b) an amount equal to the total amount of the expenditures budgeted with respect to the Project for the next ninety (90) days as set forth in the preliminary budget delivered with the Notice Information or any modification or successor thereto prepared by Xxxxxx and delivered to Arngre (the "Project Budget"). The lesser amount of (a) or (b) in the preceding sentence (the "Initial Deposit") shall be deposited no later than ten (10) days following the last day of the Acceptance Period, provided, however, that if Xxxxxx delivers a modified or successor Project Budget to Arngre (as referenced in the previous sentence), Arngre shall have at least thirty (30) days to deposit any additional amount of funds required by such modified or successor Project Budget over the previous Project Budget tendered to Arngre. The amount deposited by Arngre shall be held in a separate trust account (the "Trust Account"). In addition, for Arngre to continue to have any rights hereunder with respect to a Project, Arngre shall further be obligated, at the end of each thirty (30) day period commencing on the date on which the Initial Deposit is made, to deposit in the Trust Account such additional sum as may be necessary, if any, to make the balance in the Trust Account equal the amount of expenditures described in the Project Budget for the next ninety (90) days following the expiration of such thirty (30) day period, provided, however, that in no event shall Arngre be required to make total deposits to the Trust Account in excess of $750,000 U.S. pursuant to this Section 4. For example, assume the Project Budget for the first ninety (90) days is $150,000, or $50,000 per thirty (30) day period, and that $150,000 is deposited by Arngre in the Trust Account. At the end of the first thirty (30) days, only $30,000 of that amount has been spent, leaving a balance of $120,000. Assume that the Project Budget from day thirty one (31) through day one hundred twenty is $130,000, consisting of $50,000 for each of the first two thirty (30) day periods and $30,000 for the final thirty (30) day period. Under these assumptions Arngre would be required to contribute an additional $10,000 to the Trust Account at the end of the first thirty (30) day period.
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Creation of Trust Account. (a) Grantor hereby establishes the Supplemental Trust Account with Trustee for the sole use and benefit of Beneficiary, under the terms set forth herein. Trustee shall administer the Supplemental Trust Account in its name as Trustee for the sole use and benefit of Beneficiary. The Supplemental Trust Account shall be subject to withdrawal by Beneficiary solely as provided herein. Trustee hereby accepts the Supplemental Trust Account upon the terms set forth in this New York Supplemental Trust Agreement. The Supplemental Trust Account is not established for credit for reinsurance purposes and is not subject to NYCRR 126.1 et al. (Regulation 114).
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Creation of Trust Account 
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Related to Creation of Trust Account

  • Creation of Trust The Purchaser hereby irrevocably transfers and assigns to the Trustee, and the Trustee hereby accepts the transfer and assignment of, the right to vote and consent for the Purchaser in connection with all of its voting and consent rights and responsibilities as Beneficial Owner of the Subject Shares with respect to the following matters (collectively, the “Voting Matters”):

  • Establishment of Trust Account The Owner Trustee, for the benefit of the Certificateholders, shall establish and maintain in the name of the Trust an Eligible Deposit Account (the "Certificate Distribution Account"), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Certificateholders. The Owner Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Certificate Distribution Account and in all proceeds thereof. Except as otherwise expressly provided herein, the Certificate Distribution Account shall be under the sole dominion and control of the Owner Trustee for the benefit of the Certificateholders. If, at any time, the Certificate Distribution Account ceases to be an Eligible Deposit Account, the Owner Trustee (or the Depositor on behalf of the Owner Trustee, if the Certificate Distribution Account is not then held by the Owner Trustee or an affiliate thereof) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency may consent) establish a new Certificate Distribution Account as an Eligible Deposit Account and shall transfer any cash and/or any investments to such new Certificate Distribution Account.

  • Creation of Trust; Name There is hereby created a Trust which shall be located in the State of Delaware, and which shall be known as “SLM Student Loan Trust 20[__]-[__]”, in which name the Eligible Lender Trustee may conduct the functions of the Trust, make and execute contracts and other instruments on behalf of the Trust and xxx and be sued. The Trust shall constitute a statutory trust within the meaning of Section 3801(a) of the Delaware Statutory Trust Act for which the Eligible Lender Trustee has filed or has caused to be filed a certificate of trust with the Secretary of State of the State of Delaware pursuant to Section 3810(a) of the Delaware Statutory Trust Act.

  • Establishment of Trust Accounts (a) (i) The Servicer, for the benefit of the Noteholders and the Certificateholders, shall establish and maintain in the name of the Indenture Trustee an Eligible Deposit Account (the “Collection Account”), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Noteholders and the Certificateholders.

  • Application of Trust Funds (a) On each Payment Date, the Paying Agent will distribute to Certificateholders, on the basis of the Percentage Interest evidenced by their Trust Certificates, amounts deposited in the Certificate Distribution Account pursuant to Section 4.06 of the Sale and Servicing Agreement with respect to such Payment Date.

  • Termination of Trust Section 9.01

  • Acquisition of Trust Property (a) The Trustee is hereby irrevocably authorized and directed to execute and deliver the Assignment and Assumption Agreement on the date specified in Section 7.01 of the Related Pass Through Trust Supplement, subject only to the satisfaction of the conditions set forth in said Section 7.01. The Agreement (except only for this sentence and the immediately preceding sentence hereof, which are effective upon execution and delivery hereof) shall become effective upon the execution and delivery of the Assignment and Assumption Agreement by the Trustee and the Related Trustee, automatically and without any further signature or action on the part of the Company and the Trustee, and shall thereupon constitute the legal, valid and binding obligation of the parties hereto enforceable against each of the parties hereto in accordance with its terms. Upon such execution and delivery of the Assignment and Assumption Agreement, the Related Trust shall be terminated, the Applicable Certificateholders shall receive beneficial interests in the Applicable Trust in exchange for their interests in the Related Trust equal to their respective beneficial interests in the Related Trust and the “Outstanding” (as defined in the Related Pass Through Trust Agreement) pass through certificates representing fractional undivided interests in the Related Trust shall be deemed for all purposes of the Agreement, without further signature or action of any party or Certificateholder, to be Certificates representing the same Fractional Undivided Interests in the Applicable Trust and Trust Property. By acceptance of its Applicable Certificate, each Applicable Certificateholder consents to and ratifies such assignment, transfer and delivery of the trust property of the Related Trust to the Trustee upon the execution and delivery of the Assignment and Assumption Agreement. The provisions of this Section 5.01(a) supersede and replace the provisions of Section 2.02 of the Basic Agreement with respect to the Applicable Trust, and all provisions of the Basic Agreement relating to Postponed Notes or Section 2.02 of the Basic Agreement shall not apply to the Applicable Trust.

  • Creation of the Trust The Trust is hereby created and shall be known as “WaMu Mortgage Pass-Through Certificates Series 2005-AR2 Trust”. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities, all as provided by and subject to the terms of this Agreement:

  • Termination of Trust Agreement Section 9.01.

  • Investment of Trust Assets Following ratification of the Plan by stockholders of the Parent and receipt of any other necessary regulatory approvals, the Trust shall purchase Common Stock of the Parent in an amount equal to up to 100% of the Trust's assets, after providing for any required withholding as needed for tax purposes, provided, however, that the Trust shall not purchase more than 4% of the aggregate shares of Common Stock issued by the Parent in the mutual-to-stock conversion of the Savings Bank ("Conversion"). The Trustee shall purchase shares of Common Stock in the open market or, in the alternative, shall purchase authorized but unissued shares of the Common Stock from the Parent sufficient to fund the Plan Share Reserve.

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