Securing Deposit. A. The Escrow Bank may cause the Federal Securities accounted for in the Escrow Account to be registered in the name of the City for payment, if they are registrable for payment, and in such event shall obtain the necessary endorsements from the duly authorized officials of the City as they become due.
B. The City, in connection with any Federal Securities accounted for in the Escrow Account and held as book-entries, shall cooperate with the Escrow Bank and shall forthwith make arrangements with an appropriate representative of the issuer of such Federal Securities, so that the interest on and the principal of the Federal Securities shall be promptly transmitted, as the same become due from time to time, to the Escrow Bank for the benefit of the City.
C. All uninvested money, in excess of FDIC insurance coverage, held at any time in the Escrow Account shall be continuously secured by the deposit of Federal Securities in a principal amount and value always not less than the total amount of uninvested money in the Escrow Account:
(1) In any branch of the Federal Reserve Bank, or
(2) In any commercial bank which: (a) Is a state or national bank or trust company, and (b) Is a member of the Federal Deposit Insurance Corporation, and (c) Is a member of the Federal Reserve System, and (d) Has a capital and surplus of $10,000,000.00 or more, and (e) Is exercising full and complete trust powers, and (f) Is located in the State or without the State (“trust bank”), or
(3) In any branch of the Federal Reserve Bank and in one or more trust banks (or any combination thereof).
D. Such Federal Securities so held as a pledge shall be used whenever necessary to enable the Trustee to pay the Refunded Certificate Requirements as the same become due, to the extent other moneys are not transferred or caused to be transferred for such purpose by the Escrow Bank.
E. Any Federal Securities (except as they may be held as book-entries) and any uninvested moneys accounted for in the Escrow Account may from time to time be placed by the Escrow Bank for safekeeping wholly or in part in any such trust bank, only if prior to any such transfer the City Manager consents thereto in writing.
F. Each such trust bank holding any Federal Securities accounted for in the Escrow Account or any uninvested moneys accounted for therein, shall be furnished by the Escrow Bank with a copy of this Escrow Agreement prior to such deposit.
G. By the acceptance of such Federal Securities or such uninvested m...
Securing Deposit. Tenant shall deposit with Landlord $9,000.00 security deposit as follows; on the signing of this lease the sum of $6,000, upon completion of construction, $3,000.00 additional security is not dependent upon completion of cosmetic touches, including painting. Deposit will not accrue interest. Deposit is security for the performance of Tenant obligations under this lease, including without limitation the surrender of possession of the premises to Landlord as herein provided. If landlord applies any part of the deposit to cure any default of Tenant, Tenant shall on demand deposit with Landlord the amount so applied so that Landlord shall have the full deposit amount at all times during the term of this lease Option to renew. Provided that Tenant is not in default in the performance of this lease, Tenant shall have the option to renew the lease for an additional term of thirty six months commencing at the expiration of the initial lease term. All of the terms and conditions of the lease shall apply during the renewal term except that he monthly rent shall be the sum of $3400 plus a cost of living increase (based on CPI) + $1600 to reflect increases in taxes, utilities and garbage of 1995 base year using 1995 as the base year, for 1996 (and base year of 1996 for 1997 rent). Should taxes or any significant expensable service increase substantially more than the cost of living Elite will be assessed 20% of the increase over and above the CPI. The option shall be exercise by written notice given to Landlord not less than 90 days prior to the expiration of the initial lease term. If notice is not given in the manner provided herein within the time specified, this option shall expire.
Securing Deposit. (a) The Escrow Bank shall cause any Federal Securities held by it in the Escrow Accounts to be registered in the name of the Board for payment, if they are registrable for payment, and shall obtain the necessary endorsements from the duly authorized officers of the Board as they become due.
(b) The Board, acting by and through the Board Representative, or otherwise, in connection with any such Federal Securities accounted for in the Escrow Accounts and issued by the federal government in book-entry form in the records of the Department of the Treasury, in Washington, D.C., or otherwise, shall cooperate with the Escrow Bank and shall forthwith make arrangements with the Bureau of the Public Debt, U.S. Department of the Treasury, or with another appropriate representative of the issuer of such Federal Securities, so that the interest on and the principal of the Federal Securities designated in this section shall be promptly transmitted, as the same become due from time to time, to the Escrow Bank for the benefit of the Board, and the Escrow Bank shall promptly, upon the receipt of the same, credit the same to, account therefor in, and withdraw the same from, the Escrow Accounts, as provided in this Agreement and the Bond Resolution.
(c) All uninvested moneys held at any time in the Escrow Accounts shall be continuously secured by the deposit of Federal Securities in a principal amount and value always not less than the total amount of uninvested moneys in the Escrow Accounts:
(i) in any branch of the Federal Reserve Bank, or
(ii) in any commercial bank, which bank:
(A) is a state or national bank or trust company, and
(B) is a member of the Federal Deposit Insurance Corporation, and
(C) is a member of the Federal Reserve System, and
(D) has a shareholders’ equity of $15,000,000 or more, and
(E) is exercising full and complete trust powers, and
(F) may be located in the State of Colorado or without the State of Colorado (herein a “trust bank”), or
(iii) in any branch of the Federal Reserve Bank and in one or more trust banks (or any combination thereof).
(d) Such Federal Securities so held as a pledge shall be used whenever necessary to pay the respective Defeased Bonds Payments as the same become due, to the extent such uninvested moneys accounted for in the respective Escrow Accounts are for any reason not available to make such payments.
(e) Any Federal Securities (except as otherwise provided in Paragraph (a) of Section 2 of this Agreement) and any uninve...
Securing Deposit. A. A. The Escrow Bank may cause the Federal Securities accounted for in the Escrow Account to be registered in the name of the City for payment, if they are registrable for payment, and in such event shall obtain the necessary endorsements from the duly authorized officials of the City as they become due.
B. B. The City, in connection with any Federal Securities accounted for in the Escrow Account and held as book-entries, shall cooperate with the Escrow Bank and shall forthwith make arrangements with an appropriate representative of the issuer of such Federal Securities, so that the interest on and the principal of the Federal Securities shall be promptly transmitted, as the same become due from time to time, to the Escrow Bank for the benefit of the City.
Securing Deposit. A. The Escrow Bank may cause the Federal Securities accounted for in the Escrow Account to be registered in the name of the Agency for payment, if they are registrable for payment, and in such event shall obtain the necessary endorsements from the duly authorized officials of the Agency as they become due.
B. The Agency, in connection with any Federal Securities accounted for in the Escrow Account and held as book-entries, shall cooperate with the Escrow Bank and shall forthwith make arrangements with an appropriate representative of the issuer of such Federal Securities, so that the interest on and the principal of the Federal Securities shall be promptly transmitted, as the same become due from time to time, to the Escrow Bank for the benefit of the Agency.
C. All uninvested money held at any time in the Escrow Account shall be continuously secured by the deposit of Federal Securities in a principal amount and value always not less than the total amount of uninvested money in the Escrow Account:
(1) In any branch of the Federal Reserve Bank, or
(2) In any commercial bank which:
(a) Is a state or national bank or trust company, and (b) Is a member of the Federal Deposit Insurance Corporation, and
Securing Deposit. A. The Escrow Bank may cause the Federal Securities accounted for in the Escrow Account to be registered in the name of the Escrow Bank for payment, if they are registrable for payment.
B. No money paid into and accounted for in the Escrow Account shall ever be considered as an asset of the Escrow Bank and the Escrow Bank shall have no right or title with respect thereto except as provided herein.
