Establishment of Special Account Sample Clauses

Establishment of Special Account. Prior to the Closing Date, -------------------------------- APBI shall cause the UK Subsidiary to establish at National Westminster Bank plc a deposit account (the "Special Account"). APBI shall cause the amount on --------------- deposit in such Special Account at the opening of business on the Closing Date and thereafter at all times prior to the Closing to be not less than Pounds 3,930,818 sterling.
Sample 1
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Establishment of Special Account. Upon the delivery by the Power Purchaser of a notice of "Fuel Default" (as defined in the Consent of the Power Purchaser), the Security Agent shall establish a special account under the Security Deposit Agreement into which the Lessee shall deposit, on each Basic Rent Payment Date thereafter (until such notice is rescinded or such "Fuel Default" is cured (as determined by Lessor in its reasonable judgment)), an amount equal to 100% of the Cash Available for Distributions for the immediately preceding Quarterly Measurement Period. The amounts on deposit in such account shall be used by the Lessee, with the consent of the Owner Participant and the Administrative Agent, to cure the event or events giving rise to such Fuel Default or, following the occurrence of a Lease Event of Default (including as a result of the occurrence of a "Fuel/Performance Failure" (as defined in the Consent of the Power Purchaser)), such amounts may be used by the Owner Participant and the Administrative Agent to effect a cure of any such event or may be otherwise applied by the Owner Participant and the Administrative Agent, to satisfy the Lessee Obligations in such order as they shall determine. All amounts remaining in such account after all outstanding "Fuel Defaults" have been cured shall, so long as no Lease Default or Lease Event of Default shall have occurred and be continuing, be transferred to the Partnership Security Account.
Sample 1
Establishment of Special Account. The Company shall have established the special Account (as hereinafter defined) to the reasonable satisfaction of Lender.
Sample 1

Related to Establishment of Special Account

  • Establishment of Segregated Account Upon receipt of Proper Instructions, the Custodian shall establish and maintain on its books a segregated account or accounts for and on behalf of a Portfolio, into which account or accounts may be transferred cash and/or securities or other assets of such Portfolio, including securities maintained by the Custodian in a Securities System pursuant to Section 2.22(a) hereof or an Eligible Securities Depository pursuant to Section 2.22(b) hereof, said account or accounts to be maintained: (a) for the purposes set forth in Sections 2.09, 2.10 and 2.11 hereof; (b) for the purposes of compliance by the Portfolio with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC or SEC rules or regulations relating to the maintenance of segregated accounts by registered investment companies; or (c) for such other purposes as set forth, from time to time, in Special Instructions.

  • 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 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.

  • Establishment of Reserve Account Pledgor and Secured Party hereby authorize and direct Securities Intermediary to establish and maintain in its corporate trust department, a segregated trust account that is an Eligible Deposit Account and that is a “securities account” as that term is defined in Section 8-501(a) of the UCC in the name of Secured Party and under the sole dominion and control of Secured Party, designated as “Toyota Auto Receivables 20[__]-[_] Owner Trust Reserve Account.” Securities Intermediary hereby undertakes to treat Secured Party as the person entitled to exercise the rights that comprise any Financial Asset credited to the Reserve Account. Secured Party and Pledgor agree that this account shall be the Reserve Account.

  • 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 of Securities Account The Securities Intermediary hereby confirms and agrees that:

  • 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.

  • Establishment of Collateral Account The Securities Intermediary hereby confirms that:

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

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