INVESTMENT ACCOUNT AND CUSTODIAN ACCOUNT Sample Clauses

INVESTMENT ACCOUNT AND CUSTODIAN ACCOUNT. (a) Prior to the occurrence of a Trigger Event, the Borrower shall hold at all times Cash and Cash Equivalents, which are not subject to any Lien (other than General Tax Liens) or claim of any Person, in an amount not less than the sum of (i) Ten Million Dollars ($10,000,000) plus (ii) restricted cash and amounts which may be restricted in the future pursuant to agreements between the Borrower and third parties, in a custodial account (the "Investment Account") with an institution approved by the Bank (such institution being referred to herein as the "Account Holder"). The initial Account Holder will be Union Bank of California, N.A. The amounts held in the Investment Account shall be subject to the investment control of the Borrower. The Custodian in respect of the Investment Account cannot be changed or a new Investment Account opened without the Bank's prior written approval, which approval shall not be unreasonably withheld. The Borrower shall deliver to the Account Holder the Irrevocable Instructions and Power of Attorney in the form of Exhibit 2.6.B (the "Irrevocable Instructions and Power of Attorney).
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INVESTMENT ACCOUNT AND CUSTODIAN ACCOUNT. 5 ------------------------------------------- SECTION 2.7
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INVESTMENT ACCOUNT AND CUSTODIAN ACCOUNT. (a) Prior to the occurrence of a Trigger Event, the Borrower shall hold at all times Cash and Cash Equivalents, which are not subject to any Lien or claim of any Person other than the Bank, in an amount not less than the Minimum Amount, in a custodial account (the "Investment Account") with an institution approved by the Bank (such institution being referred to herein as the "Custodian"). The initial Custodian will be Sumitomo Bank of New York Trust Company. The amounts held in the Investment Account shall be subject to the investment control of the Borrower. The Custodian in respect of the Investment Account cannot be changed or a new Investment Account opened without the Bank's prior written approval, which approval shall not be unreasonably withheld. The Borrower shall deliver to the Custodian the Irrevocable Instructions and Power of Attorney in the form of Exhibit 2.6.B ------------- (the "Irrevocable Instructions and Power of Attorney).
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INVESTMENT ACCOUNT AND CUSTODIAN ACCOUNT. (a) Prior to the occurrence of a Trigger Event, the Borrowers shall hold at all times Cash and Cash Equivalents, which are not subject to any Lien or claim of any Person other than the Bank, in an amount not less than an amount equal to the then outstanding principal balance due under the Loan plus three (3) months interest thereon at the then applicable rate provided for herein, in a custodial account (the "Investment Account") with an institution approved by the Bank (such institution being referred to herein as the "Custodian"). The initial Custodian will be Oppexxxxxxx & Xo.,
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Related to INVESTMENT ACCOUNT AND CUSTODIAN ACCOUNT

  • SUB-CUSTODIAN ACCOUNT The Participant understands and agrees that, in the case of each Fund, as applicable, the Trust has caused the Trust’s custodian (the “Custodian”) to maintain with a sub-custodian for such Fund an account in each relevant jurisdiction to which the Participant shall, when applicable, deliver or cause to be delivered in connection with the creation of a Creation Unit aggregation the Deposit Securities not subject to settlement in the United States and any other applicable cash amounts (or the cash value of all or a part of such securities, in the case of a permitted or required cash purchase or “cash-in-lieu” amount) on behalf of itself or any other party for which it is acting (regardless of its capacity), with any appropriate adjustments as advised by the Trust, in accordance with the terms and conditions applicable to such account in such jurisdiction.

  • Investment Account The Manager shall maintain an investment account or accounts in the Manager’s name (the “Account”) on behalf of the Principal, any other participating insurer affiliated with the Principal and/or the Ultimate Parent Company, an insurance subsidiary or affiliate of the Principal and/or the Ultimate Parent Company or a pension plan or profit-sharing plan of the Principal, its insurance subsidiaries or affiliates, (collectively, the “Participants”), and shall hold therein all debt obligations, accounts or deposits permitted by the New Hampshire Insurance Code as more fully described on Exhibit A, as may be amended from time to time, and attached hereto and incorporated herein (collectively, “Investments”), deposited in or purchased or otherwise acquired for and on behalf of the Principal and the Participants from time to time pursuant to the terms and conditions of this Agreement. All Investments in the Account shall be Short-Term Obligations.

  • Investment Accounts Schedule 2 sets forth under the headings “Securities Accounts” and “Commodity Accounts”, respectively, all of the Securities Accounts and Commodity Accounts in which such Grantor has an interest. Except as disclosed to the Administrative Agent, such Grantor is the sole entitlement holder of each such Securities Account and Commodity Account, and such Grantor has not consented to, and is not otherwise aware of, any Person (other than the Administrative Agent) having “control” (within the meanings of Sections 8-106 and 9-106 of the UCC) over, or any other interest in, any such Securities Account or Commodity Account or any securities or other property credited thereto;

  • Fund Custody Accounts As to each Fund, the Custodian shall open and maintain in its trust department a custody account in the name of the Trust coupled with the name of the Fund, subject only to draft or order of the Custodian, in which the Custodian shall enter and carry all Securities, cash and other assets of such Fund which are delivered to it.

  • Segregated Account The Custodian shall upon receipt of Proper Instructions from the Fund on behalf of each applicable Portfolio establish and maintain a segregated account or accounts for and on behalf of each such Portfolio, into which account or accounts may be transferred cash and/or securities, including securities maintained in an account by the Custodian pursuant to Section 2.10 hereof, (i) in accordance with the provisions of any agreement among the Fund on behalf of the Portfolio, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered contract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Portfolio, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Portfolio or commodity futures contracts or options thereon purchased or sold by the Portfolio, (iii) 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 Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, BUT ONLY, in the case of clause (iv), upon receipt of, in addition to Proper Instructions from the Fund on behalf of the applicable Portfolio, a certified copy of a resolution of the Board of Trustees or of the Executive Committee signed by an officer of the Fund and certified by the Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

  • Designated Accounts The Collection Account, the Note Distribution Account and the Reserve Account, collectively. Determination Date: The tenth day of each calendar month, or if such tenth day is not a Business Day, the next succeeding Business Day. Discount Rate: 0.00% per annum.

  • Segregated Accounts Upon receipt of Proper Instructions, the Custodian shall establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or Securities, including Securities maintained in a Depository Account:

  • Establishment of Custodial Account; Deposits in Custodial Account The Seller shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts (collectively, the “Custodial Account”), titled “PrimeLending, in trust for Redwood Residential Acquisition Corporation as Purchaser of Mortgage Loans and various Mortgagors.” Such Custodial Account shall be an Eligible Account established with a commercial bank, a savings bank or a savings and loan association (which may be a depository affiliate of the Seller) which meets the guidelines set forth by the FHFA, Fxxxxx Mxx or Fxxxxxx Mac as an eligible depository institution for custodial accounts. The Custodial Account shall not be transferred to any other depository institution without the Purchaser’s approval, which shall not unreasonably be withheld. In any case, the Custodial Account shall be insured by the FDIC in a manner which shall provide maximum available insurance thereunder and which may be drawn on by the Seller. The Seller shall deposit in the Custodial Account on a daily basis, and retain therein the following payments and collections received or made by it subsequent to the related Cut-off Date (other than in respect of principal and interest on the Mortgage Loans due on or before the related Cut-off Date):

  • Establishment of Custodial Accounts; Deposits in Custodial Accounts The Seller shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts, in the form of time deposit or demand accounts. The creation of any Custodial Account shall be evidenced by a Custodial Account Letter Agreement in the form of Exhibit 7. The Seller shall deposit in the Custodial Account on a daily basis, and retain therein the following payments and collections received by it subsequent to the Cut-off Date, or received by it prior to the Cut-off Date but allocable to a period subsequent thereto, other than in respect of principal and interest on the Mortgage Loans due on or before the Cut-off Date:

  • Disbursement Account A trust account for the benefit of Owner, opened by Manager with an FDIC insured bank to pay for “Operating Expenses” as defined in Section 4.01(b).

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