Establishment and Funding Sample Clauses

Establishment and Funding. (a) In order to assure that sufficient amounts to make required payments to the holders of the Certificates will be available, there shall be established and maintained with the Trustee the following Eligible Account: the "Reserve Fund-- Aegis Auto Funding Corp. IV, Aegis Auto Receivables Trusts" (the "Reserve Fund"), which will include the money and other property deposited therein pursuant to applicable sections of each Pooling and Servicing Agreement and held therein pursuant to this Article III. The Reserve Fund shall not be part of any trust created pursuant to the terms hereof, but instead will be held outside each trust for the benefit of the holders of the Certificates and to secure trustee and servicing fee distributions as described below. Subject to the terms and conditions hereinafter set forth, the Reserve Fund shall be under the sole dominion and control of the Trustee, as pledgee, and the Trustee shall have the sole right to make withdrawals therefrom. Notwithstanding the right of the Seller hereunder to give instructions relating to the investment or reinvestment of amounts in the Reserve Fund, withdrawals from the Reserve Fund may not be made at the direction of the Seller but may only be made by the Trustee in accordance with the terms hereof. The Seller and the Trustee acknowledge that any amounts on deposit in the Reserve Fund (and any investment earnings thereon) will be owned directly by and be the separate property of the Seller, and such parties hereby agree to treat the same as assets (and investment earnings) of the Seller for federal income tax purposes.
Sample 1
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Establishment and Funding. Client has established, or shall establish with the Custodian, an Account consisting, initially, of such cash and other Assets set forth on Exhibit A and Schedule A hereto. Client has delivered, or will deliver such initial Assets to the Custodian at, or prior to, the execution of this Agreement.
Sample 1
Establishment and Funding. (a) In order to assure that sufficient amounts to make required payments to the holders of the Certificates will be available, there shall be established and maintained with the Trustee the following Eligible Account: the "Reserve Fund Aegis Auto Funding Corp. IV, Aegis Auto Receivables Trusts" (the "Reserve Fund"), which will include the money and other property deposited therein pursuant to applicable sections of each Pooling and Servicing Agreement and held therein pursuant to this Article III. The Reserve Fund shall not be part of any trust created pursuant to the terms hereof, but instead will be held outside each trust for the benefit of the holders of the Certificates and to secure trustee and servicing fee distributions as described below. The Seller and the Trustee acknowledge that any amounts on deposit in the Reserve Fund (and any investment earnings thereon) will be owned directly by and be the separate property of the Seller, and such parties hereby agree to treat the same as assets (and investment earnings) of the Seller for federal income tax purposes.
Sample 1
Establishment and Funding. The City has, on or before the date hereof, established [deposit] account number [ ] with the Lender (the “Initial Account”). The City hereby grants to the Lender a lien on and security interest in, and acknowledges and agrees that the Lender has and shall continue to have a continuing lien on and security interest in, any and all right, title, and interest of the City, whether now owned or existing or hereafter created, acquired or arising, in and to the following (collectively, the "Collateral"):
Sample 1

Related to Establishment and Funding

  • Establishment of the Bank Account 2.1 The Escrow Agent shall establish a non-interest bearing bank account at a branch of XX Xxxxxx Chase selected by the Escrow Agent, and bearing the designation set forth on the Information Sheet (heretofore defined as the “Bank Account”). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, or wire transfers) which are received by the Underwriter from prospective purchasers of the Securities and are delivered by the Underwriter to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, and (c) the disbursement of collected funds, all as described herein.

  • Establishment and Purpose The Plan was adopted by the Board of Directors on October 28, 2012, and shall be effective immediately prior to the closing of the initial offering of Stock to the public pursuant to a registration statement filed by the Company with the Securities and Exchange Commission (the “Effective Date”). The purpose of the Plan is to promote the long-term success of the Company and the creation of stockholder value by (a) encouraging Employees, Outside Directors and Consultants to focus on critical long-range objectives, (b) encouraging the attraction and retention of Employees, Outside Directors and Consultants with exceptional qualifications and (c) linking Employees, Outside Directors and Consultants directly to stockholder interests through increased stock ownership. The Plan seeks to achieve this purpose by providing for Awards in the form of restricted shares, stock units, options (which may constitute incentive stock options or nonstatutory stock options), stock appreciation rights or cash-based awards.

  • Establishment of Trust In the event of a Change in Control (other than a Change in Control approved by a majority of the directors on the Board who were directors immediately prior to such Change in Control) the Company shall, upon written request by Indemnitee, create a Trust for the benefit of the Indemnitee and from time to time upon written request of Indemnitee shall fund the Trust in an amount sufficient to satisfy any and all Expenses reasonably anticipated at the time of each such request to be incurred in connection with investigating, preparing for, participating in, and/or defending any Proceeding relating to an Indemnifiable Event. The amount or amounts to be deposited in the Trust pursuant to the foregoing funding obligation shall be determined by the Independent Counsel. The terms of the Trust shall provide that (i) the Trust shall not be revoked or the principal thereof invaded without the written consent of the Indemnitee, (ii) the Trustee shall advance, within ten business days of a request by the Indemnitee, any and all Expenses to the Indemnitee (and the Indemnitee hereby agrees to reimburse the Trust under the same circumstances for which the Indemnitee would be required to reimburse the Company under Section 2(c) of this Agreement), (iii) the Trust shall continue to be funded by the Company in accordance with the funding obligation set forth above, (iv) the Trustee shall promptly pay to the Indemnitee all amounts for which the Indemnitee shall be entitled to indemnification pursuant to this Agreement or otherwise, and (v) all unexpended funds in the Trust shall revert to the Company upon a final determination by the Independent Counsel or a court of competent jurisdiction, as the case may be, that the Indemnitee has been fully indemnified under the terms of this Agreement. The Trustee shall be chosen by the Indemnitee. Nothing in this Section 7 shall relieve the Company of any of its obligations under this Agreement. All income earned on the assets held in the Trust shall be reported as income by the Company for federal, state, local, and foreign tax purposes. The Company shall pay all costs of establishing and maintaining the Trust and shall indemnify the Trustee against any and all expenses (including attorneys’ fees), claims, liabilities, loss, and damages arising out of or relating to this Agreement or the establishment and maintenance of the Trust.

  • Establishment of the Trust The Depositor does hereby establish, pursuant to the further provisions of this Agreement and the laws of the State of New York, an express trust to be known, for convenience, as “Deutsche Alt-A Securities, Mortgage Loan Trust, Series 2006-AR2” and does hereby appoint HSBC Bank USA, National Association as Trustee in accordance with the provisions of this Agreement.

  • Establishment of Account (a) The Fund hereby appoints the Custodian as the custodian of all Securities and cash at any time delivered to the Custodian to be held under this Agreement. The Custodian hereby accepts such appointment and agrees to establish and maintain one or more accounts for each Series in which the Custodian will hold Securities and cash as provided herein. Such accounts (each, an “Account,” and collectively, the “Accounts”) shall be in the name of the Fund and Series, if any.

  • Establishment of Accounts The Escrow Agent hereby instructs the Depositary, and the Depositary agrees, to establish the separate deposit accounts listed on Schedule I hereto and to establish such additional separate deposit accounts as may be required in connection with the deposits contemplated by Section 2.4 hereof (each, an “Account” and collectively, the “Accounts”), each in the name of the Escrow Agent and all on the terms and conditions set forth in this Agreement.

  • Establishment On and after the Closing Date, the Indenture Trustee will maintain the Bank Accounts established by the Servicer under Section 4.1 of the Sale and Servicing Agreement.

  • Establishment and Designation of Series The establishment and designation of any Series or class of Shares shall be effective upon the resolution by a majority of the then Board of Trustees, adopting a resolution which sets forth such establishment and designation and the relative rights and preferences of such Series or class. Each such resolution shall be incorporated herein by reference upon adoption. Each Series shall be separate and distinct from any other Series and shall maintain separate and distinct records on the books of the Trust, and the assets and liabilities belonging to any such Series shall be held and accounted for separately from the assets and liabilities of the Trust or any other Series. Shares of each Series or class established pursuant to this Section 6, unless otherwise provided in the resolution establishing such Series, shall have the following relative rights and preferences:

  • Establishment of Deposit Account The Financial Institution hereby confirms and agrees that:

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