Establishment of Deposit Account. The Financial Institution hereby confirms and agrees that:
Establishment of Deposit Account. The Deposit Account shall be established and maintained pursuant to Section 5.01 of the Sale and Servicing Agreement. The Deposit Account shall be under the sole dominion and control of the Indenture Trustee for the benefit of Noteholders and the Certificateholders, as applicable in accordance with the Sale and Servicing Agreement.
Establishment of Deposit Account. (a) 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 "Deposit Account"), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Noteholders and the Certificateholders. The Servicer shall establish the Reserve Account as part of the Deposit Account.
Establishment of Deposit Account. To further assure Broker’s performance of its obligations under this Agreement, including but not limited to its indemnification obligations under Paragraph 18, Broker shall, on or before the execution of this Agreement, establish an account at Pershing to be designated as the Broker’s Deposit Account (the “Deposit Account”). The Deposit Account shall not represent an ownership interest by Broker in Pershing. The Deposit Account shall at all times contain cash, securities, or a combination of both, having a market value of at least the amount set forth in Schedule A. The securities placed in the Deposit Account shall consist only of direct obligations issued by or guaranteed as to principal and interest by the United States Government. In the event of a substantial change in the nature and extent of Broker’s business operations, Pershing may require that an additional amount be deposited promptly in the Deposit Account. If such a deposit is not made in the amount specified, whether or not Broker agrees that the amount is justified under this Paragraph, Pershing may terminate this Agreement forthwith.
Establishment of Deposit Account. 15 SECTION 5.02. Application of Trust Funds.................................................................15 SECTION 5.03.
Establishment of Deposit Account. To further assure Broker's performance of its obligations under this Agreement, including but not limited to its indemnification obligations under Paragraph 17, Broker shall, on or before the execution of this Agreement, establish an account at Pershing to be designated as the Broker's Deposit Account (the "Deposit Account"). The Deposit Account shall at all times contain cash, securities, or a combination of both, having a market value of at least the amount set forth in Schedule A. The securities placed in the Deposit Account shall consist only of direct obligations issued by or guaranteed as to principal and interest by the United States Government. In the event of a substantial change in the nature and extent of Broker's business operations, Pershing may require immediately that an additional amount be deposited in the Deposit Account. If such a deposit is not made in the amount specified whether or not Broker agrees that the amount is justified under this subparagraph, Pershing shall have the right to terminate this Agreement forthwith.
Establishment of Deposit Account. To further assure Introducing Firm’s performance of its obligations under this Agreement, including but not limited to its indemnification obligations under Section 17, Introducing Firm shall, on or before the execution of this Agreement, establish an account at Clearing Agent to be designated as the Introducing Firm’s Deposit Account (the “Deposit Account”). The Deposit Account shall not represent an ownership interest by Introducing Firm in Clearing Agent. The Deposit Account shall at all times contain cash, securities, or a combination of both, having a market value of at least seven hundred fifty thousand dollars ($750,000) (the “Required Amount”). The securities placed in the Deposit Account shall consist only of direct obligations issued by or guaranteed as to principal and interest by the United States Government. In the event of a substantial change in the nature and extent of Introducing Firm’s business operations, Clearing Agent may require that an additional amount be deposited promptly in the Deposit Account. If such a deposit is not made in the amount specified, whether or not Introducing Firm agrees that the amount is justified under this Section, Clearing Agent may terminate this Agreement forthwith.
Establishment of Deposit Account. To further assure Broker’s performance of its obligations under this Agreement, including but not limited to its indemnification obligations under Paragraph 18, Broker shall, on or before the execution of this Agreement, establish an account at Pershing to be designated as the Broker’s Deposit Account (the “Deposit Account”). The Deposit Account shall not represent an ownership interest by Broker in Pershing. The Deposit Account shall at all times contain cash, securities, or a combination of both, having a market value of at least the amount set forth in Schedule A. The securities placed in the Deposit Account shall consist only of direct obligations issued by or guaranteed as to principal and interest by the United States Government. In the event of a material adverse change in the nature and extent of Broker’s business operations, Pershing may require that an additional amount be deposited promptly in the Deposit Account upon reasonable prior written notice to Broker. If such a deposit is not made in the amount specified within a reasonable time period after Broker’s receipt of notice of the increase, whether or not Broker agrees that the amount is justified under this Paragraph, Pershing may terminate this Agreement forthwith.
Establishment of Deposit Account. Upon the commencement of a Lender Sweep Period, Lender or Designee, on behalf of Lender, will establish the Deposit Account into which all funds in the Clearing Account will, during the continuance of any Lender Sweep Period, be deposited on a periodic basis as set forth in the Clearing Account Agreement.
Establishment of Deposit Account. (a) The Deposit Account shall be established in connection with the offering of 6,000,000 shares of Preferred Stock (the "Offering"), and 1,200,000 additional shares of Preferred Stock (the "Over-Allotment Shares") subject to acquisition in connection therewith, and shall be held subject to the terms and conditions of this Agreement.
