Moneys Held by Bank Sample Clauses

Moneys Held by Bank. The Bank shall deposit any moneys received from the Issuer into a trust account to be held in a trust account for the payment of the Securities, with such moneys in the account that exceed the deposit insurance available to the Issuer by the Federal Deposit Insurance Corporation, to be fully collateralized with securities or obligations that are eligible under the laws of the State of Texas to secure and be pledged as collateral for trust accounts until the principal and interest on such securities have been presented for payment and paid to the owner thereof. Payments made from such trust account shall be made by check drawn on such trust account unless the owner of such Securities shall, at its own expense and risk, request such other medium of payment. Subject to the Unclaimed Property Law of the State of Texas, any money deposited with the Bank for the payment of the principal, premium (if any), or interest on any Security and remaining unclaimed for three years after the final maturity of the Security has become due and payable will be paid by the Bank to the Issuer if the Issuer so elects, and the Holder of such Security shall hereafter look only to the Issuer for payment thereof, and all liability of the Bank with respect to such monies shall thereupon cease. If the Issuer does not elect, the Bank is directed to report and dispose of the funds in compliance with Title Six of the Texas Property Code, as amended.
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Moneys Held by Bank. Paying Agent 15 Account/Collateralization. A paying agent account shall at all times be kept and 16 maintained by the Bank for the receipt, safekeeping, and disbursement of moneys 17 received from the Issuer under this Agreement for the payment of the Securities, and 18 money deposited to the credit of such account until paid to the Holders of the 19 Securities shall be continuously collateralized by securities or obligations which 20 qualify and are eligible under both the laws of the State of Texas and the laws of the 21 United States of America to secure and be pledged as collateral for paying agent 22 accounts to the extent such money is not insured by the Federal Deposit Insurance 23 Corporation. Payments made from such paying agent account shall be made by 24 check drawn on such account unless the owner of the Securities shall, at its own 25 expense and risk, request an alternative method of payment. 26 Subject to the applicable unclaimed property laws of the State of Texas, any 27 money deposited with the Bank for the payment of the principal of, premium (if 28 any), or interest on any Security and remaining unclaimed for three years after final 29 maturity of the Security has become due and payable will be held by the Bank and 30 disposed of only in accordance with Title 6 of the Texas Property Code, as amended.
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Moneys Held by Bank. Money held by the Bank hereunder shall be segregated from any other funds of the Bank and the Town, and such money shall be held in trust for the benefit of the Bondholders of the Series 2021 Bonds. Any money deposited with the Bank for the payment of the principal of or interest on any Series 2021 Bonds and remaining unclaimed three (3) years following the final maturity of the Series 2021 Bonds shall be paid by the Bank to the Town, and the Bondholder of such Series 2021 Bonds shall thereafter look only to the Town for payment thereof, and all liability of the Bank with respect to such moneys shall thereupon cease.
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Related to Moneys Held by Bank

  • Money Held by Global Agent Money paid by Freddie Mac to the Global Agent for payment of amounts owing with respect to the Notes may be dealt with by the Global Agent in the same manner as other money paid to it as a banker by its customers except that (i) it may not exercise any lien, right of set-off or similar claim in respect of such sums and (ii) except as otherwise set forth in Section 7(a) above, it shall not be liable to anyone for interest on any sums held by it under this Agreement.

  • Dealing With Escrow Securities 4.1 Restriction on Transfer, etc.

  • Withdrawals or Transfers All requests for withdrawal or transfer will be in writing on a form provided by or acceptable to us. The method of distribution must be specified in writing or in any other method acceptable to us. The tax identification number of the recipient must be provided to us before we are obligated to make a distribution. Withdrawals will be subject to all applicable tax and other laws and regulations, including but not limited to possible early distribution penalty taxes, surrender charges, and withholding requirements.

  • Trust Accounts (a) On or prior to the Closing Date, the Issuer shall cause the Servicer to establish and maintain, in the name of the Indenture Trustee, for the benefit of the Noteholders and, to the extent set forth herein, the Certificateholder, the Collection Account as provided in Section 5.01 of the Sale and Servicing Agreement.

  • Release of Escrow Securities to Depositary The Escrow Agent will release from escrow the tendered escrow securities when the Escrow Agent receives a declaration signed by the depositary or, if the direction identifies the depositary as acting on behalf of another person or company in respect of the business combination, by that other person or company, that:

  • Transfer Upon Realization of Pledged, Mortgaged or Charged Escrow Securities (1) You may transfer within escrow to a financial institution the escrow securities you have pledged, mortgaged or charged under section 4.2 to that financial institution as collateral for a loan on realization of the loan.

  • What To Do If You Find A Mistake On Your Statement If you think there is an error on your statement, write to us at the address listed on your statement. In your letter, give us the following information: - Account information: Your name and account number. - Dollar amount: The dollar amount of the suspected error. - Description of problem: If you think there is an error on your xxxx, describe what you believe is wrong and why you believe it is a mistake. You must contact us: - Within 60 days after the error appeared on your statement. - At least 3 business days before an automated payment is scheduled, if you want to stop payment on the amount you think is wrong. You must notify us of any potential errors in writing or electronically. You may call us, but if you do we are not required to investigate any potential errors and you may have to pay the amount in question. What Will Happen After We Receive Your Letter When we receive your letter, we must do two things:

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