Common use of Securing Deposit Clause in Contracts

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 moneys each such trust bank shall be bound in the same manner as the Escrow Bank, as herein provided. H. The Escrow Bank, however, shall remain solely responsible to the City: (1) For any investment or reinvestments of moneys pursuant to Sections 1 and 5 hereof, hereof, hereof, (2) For transfers of money, (3) For the termination of the Escrow Account pursuant to Section 8 (4) For any notification of prospective deficiencies pursuant to Section 10 (5) For the final report pursuant to Section 11 hereof, and (6) For defraying any charges of any branch of the Federal Reserve Bank or any trust bank for any deposits of Federal Securities as pledge to secure uninvested moneys, of Federal Securities in escrow, and of uninvested moneys in escrow (or any combination thereof) or for any other service relating to this Escrow Agreement or the Escrow Account. I. Notwithstanding the liabilities of the Escrow Bank stated in paragraph H of this section, the Escrow Bank may cause any one, all, or any combination of the duties stated in paragraph H to be performed on its behalf by any trust bank. J. If at any time the Escrow Bank fails to account for any moneys or Federal Securities held by it or by any such trust bank in the Escrow Account, such moneys and securities shall be and remain the property of the City. K. If for any reason such moneys or Federal Securities cannot be identified, all other assets of the Escrow Bank and of each such trust bank failing to account therefor shall be impressed with a trust for the amount thereof, and the City shall be entitled to a preferred claim upon such assets. L. No money paid into and accounted for in the Escrow Account shall ever be considered as an asset of the Escrow Bank and neither the Escrow Bank nor any such trust bank shall have any right or title with respect thereto.

Securing Deposit. A. The Escrow Bank Agent 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 Agent and shall forthwith make arrangements with an appropriate representative of the issuer City 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 Agent for the benefit of the City. C. All uninvested money, in excess of FDIC insurance coverage, 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 (c) Is a member of the Federal Reserve SystemBoard, 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 within 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 Escrow Agent, as paying agent, to pay the Refunded Certificate Bond 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 BankAgent. 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 Agent 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 Agent with a copy of this Escrow Agreement prior to such deposit. G. By the acceptance of such Federal Securities or such uninvested moneys each such trust bank shall be bound in the same manner as the Escrow BankAgent, as herein provided. H. The Escrow BankAgent, however, shall remain solely responsible to the City: (1) For any investment or reinvestments of moneys pursuant to Sections 1 and 5 hereof, hereof, hereof, (2) For transfers of moneymoneys and causing redemption notices to be given pursuant to Section 7 hereof, (3) For the termination of the Escrow Account pursuant to Section 88 hereof, hereof, (4) For any notification of prospective deficiencies pursuant to Section 10 (5) For the final report periodic status reports pursuant to Section 11 hereof, and (6) For defraying any charges of any branch of the Federal Reserve Bank or any trust bank for any deposits of Federal Securities as a pledge to secure uninvested moneys, of Federal Securities in escrow, and of uninvested moneys in escrow (or any combination thereof) or for any other service relating to this Escrow Agreement or the Escrow Account. I. Notwithstanding the liabilities of the Escrow Bank Agent stated in paragraph H of this sectionSection, the Escrow Bank Agent may cause any one, all, or any combination of the duties stated in paragraph H to be performed on its behalf by any trust bank. J. If at any time the Escrow Bank Agent fails to account for any moneys or Federal Securities held by it or by any such trust bank in the Escrow Account, such moneys and securities shall be and remain the property of the City. K. If for any reason such moneys or Federal Securities cannot be identified, all other assets of the Escrow Bank Agent and of each such trust bank failing to account therefor shall be impressed with a trust for the amount thereof, and the City shall be entitled to a preferred claim upon such assets. L. No money paid into and accounted for in the Escrow Account shall ever be considered as an asset of the Escrow Bank Agent and neither the Escrow Bank Agent nor any such trust bank shall have any right or title with respect thereto.

Securing Deposit. A. The Escrow Bank Agent may cause the Federal Securities accounted for in the 2021A Escrow Account to be registered in the name of the City District or the Escrow Agent on behalf of the District for payment, if they are registrable for payment, and in such event shall obtain the any necessary endorsements from the duly authorized officials of the City District as they such securities become due. B. The CityDistrict, in connection with any Federal Securities accounted for in the 2021A Escrow Account and held as book-entries, entries shall cooperate with the Escrow Bank Agent 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 Agent for the benefit of the CityDistrict. C. All uninvested money, in excess of FDIC insurance coverage, money held at any time in the 2021A Escrow Account Account, to the extent not insured by the Federal Deposit Insurance Corporation, 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 2021A 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 and (b) Is a member of the Federal Deposit Insurance Corporation, and and (c) Is a member of the Federal Reserve System, and and (d) Has a capital and surplus of $10,000,000.00 10,000,000 or more, and and (e) Is exercising full and complete trust powers, and and (f) Is May be located in or outside of the State or without the State of Colorado (a “trust bank”), or (3) In any branch of the a 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 Paying Agent to pay the Refunded Certificate Requirements as the same become dueBond Requirements, to the extent other moneys are not transferred or caused to be transferred for such purpose by the Escrow BankAgent. E. Any Federal Securities (except as they may be held as book-entries) and any uninvested moneys accounted for in the 2021A Escrow Account may from time to time be placed by the Escrow Bank Agent for safekeeping wholly or in part in any such trust bank, only if prior to any such transfer the City Manager Chief Financial Officer 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, in the 2021A Escrow Account shall be furnished by the Escrow Bank Agent with a copy of this Escrow Agreement prior to such deposit. G. By X. Xx the acceptance of such Federal Securities or such uninvested moneys moneys, each such trust bank shall be bound in the same manner as the Escrow BankAgent, as herein provided. H. The Escrow BankAgent, however, shall remain solely responsible to the CityDistrict: (1) For any investment or reinvestments compliance with the provisions of moneys pursuant to Sections 1 and 5 hereof concerning any investment or reinvestment of moneys hereunder, provided, however, that the Escrow Agent shall not, as provided in Section 16B hereof, hereof, hereof,be liable for any loss resulting from such investments or reinvestments; (2) For transfers of money,moneys pursuant to Section 7 hereof; (3) For the termination of the 2021A Escrow Account pursuant to Section 88 hereof; (4) For any notification of prospective deficiencies the periodic status reports pursuant to Section 10 hereof; (5) For the final report pursuant any notice of redemption required to be given by Section 11 13 hereof, ; and (6) For defraying any charges of any branch of the Federal Reserve Bank or any trust bank for any deposits of Federal Securities as pledge pledged to secure uninvested moneys, moneys of Federal Securities in escrow, and of uninvested moneys in escrow (or any combination thereof) or for any other service relating to this Escrow Agreement or the 2021A Escrow Account. I. Notwithstanding the liabilities of the Escrow Bank Agent stated in paragraph H of this section, the Escrow Bank Agent may cause any one, all, or any combination of the duties stated in paragraph H to be performed on its behalf by any trust bank. J. If at any time the Escrow Bank Agent fails to account for any moneys or Federal Securities held by it or by any such trust bank in the 2021A Escrow Account, such moneys and securities shall be and remain the property of the CityDistrict. K. If for any reason such moneys or Federal Securities cannot be identified, all other assets of the Escrow Bank and of each such trust bank failing to account therefor shall be impressed with a trust for the amount thereof, and the City shall be entitled to a preferred claim upon such assets. L. No X. Xx money paid into and accounted for in the 2021A Escrow Account shall ever be considered as an asset of the Escrow Bank a banking deposit and neither the Escrow Bank Agent nor any such trust bank shall have any right or title with respect thereto.

Securing Deposit. A. The Escrow Bank Agent may cause the Federal Securities accounted for in the 2022 Escrow Account to be registered in the name of the City District or the Escrow Agent on behalf of the District for payment, if they are registrable for payment, and in such event shall obtain the any necessary endorsements from the duly authorized officials of the City District as they such securities become due. B. The CityDistrict, in connection with any Federal Securities accounted for in the 2022 Escrow Account and held as book-entries, entries shall cooperate with the Escrow Bank Agent 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 Agent for the benefit of the CityDistrict. C. All uninvested money, in excess of FDIC insurance coverage, money held at any time in the 2022 Escrow Account Account, to the extent not insured by the Federal Deposit Insurance Corporation, 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 2022 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 and (b) Is a member of the Federal Deposit Insurance Corporation, and and (c) Is a member of the Federal Reserve System, and and (d) Has a capital and surplus of $10,000,000.00 10,000,000 or more, and and (e) Is exercising full and complete trust powers, and and (f) Is located in or outside of the State or without the State of Colorado (a “trust bank”), or (3) In any branch of the a 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 2014A Trustee to pay the Refunded 2014A Certificate Requirements as the same become dueRequirements, to the extent other moneys are not transferred or caused to be transferred for such purpose by the Escrow BankAgent. E. Any Federal Securities (except as they may be held as book-entries) and any uninvested moneys accounted for in the 2022 Escrow Account may from time to time be placed by the Escrow Bank Agent for safekeeping wholly or in part in any such trust bank, only if prior to any such transfer the City Manager Chief Financial Officer consents thereto in writing. F. Each such trust bank holding any Federal Securities or any uninve sted moneys accounted for in the 2022 Escrow Account or any uninvested moneys accounted for therein, shall be furnished by the Escrow Bank with a copy of this Agreement by the Escrow Agreement Agent prior to such deposit. G. By the acceptance of such Federal Securities or such uninvested moneys moneys, each such trust bank shall be bound in the same manner as the Escrow BankAgent, as herein provided. H. The Escrow BankAgent, however, shall remain solely responsible to the CityDistrict : (1) For any investment or reinvestments compliance with the provisions of moneys pursuant to Sections 1 and 5 hereof concerning any investment or reinvestment of moneys hereunder, provided, however, that the Escrow Agent shall not, as provided in Section 16B hereof, hereof, hereof,be liable for any loss resulting from such investme nts or reinvestments; (2) For transfers of money,moneys pursuant to Section 7 hereof; hereof; (3) For the termination of the 2022 Escrow Account pursuant to Section 8 (4) For any notification of prospective deficiencies the periodic status reports pursuant to Section 10 hereof; (5) For the final report pursuant any notice of redemption required to be given by Section 11 7 hereof, ; and (6) For defraying any charges of any branch of the Federal Reserve Bank or any trust bank for any deposits of Federal Securities as pledge pledged to secure uninvested moneys, moneys of Federal Securities in escrow, and of uninvested moneys in escrow (or any combination thereof) or for any other service relating to this Escrow Agreement or the 2022 Escrow Account. I. Notwithstanding the liabilities responsibilities of the Escrow Bank Agent stated in paragraph H of this section, the Escrow Bank Agent may cause any one, all, or any combination of the duties stated in paragraph H to be performed on its behalf by any trust bank. J. If at any time the Escrow Bank Agent fails to account for any moneys or Federal Securities held by it or by any such trust bank in the 2022 Escrow Account, such moneys and securities shall be and remain the property of the CityDistrict. K. If for any reason such moneys or Federal Securities cannot be identified, all other assets of the Escrow Bank and of each such trust bank failing to account therefor shall be impressed with a trust for the amount thereof, and the City shall be entitled to a preferred claim upon such assets. L. No money paid into and accounted for in the 2022 Escrow Account shall ever be considered as an asset of the Escrow Bank a banking deposit and neither the Escrow Bank Agent nor any such trust bank shall have any right or title with respect thereto.

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 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 City Agency as they become due. B. The CityAgency, 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 CityAgency. C. All uninvested money, in excess of FDIC insurance coverage, 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 (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 Bond 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 Treasurer 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 moneys each such trust bank shall be bound in the same manner as the Escrow Bank, as herein provided. H. The Escrow Bank, however, shall remain solely responsible to the City:Agency: and 5 hereof, hereof, hereof, (1) For any investment or reinvestments of moneys pursuant to Sections 1 and 5 hereof, hereof, hereof,1 (2) For transfers of money, (3) For the termination of the Escrow Account pursuant to Section 8 (4) For any notification of prospective deficiencies pursuant to Section 10 (5) For the final report pursuant to Section 11 hereof, and (6) For defraying any charges of any branch of the Federal Reserve Bank or any trust bank for any deposits of Federal Securities as pledge to secure uninvested moneys, of Federal Securities in escrow, and of uninvested moneys in escrow (or any combination thereof) or for any other service relating to this Escrow Agreement or the Escrow Account. I. Notwithstanding the liabilities of the Escrow Bank stated in paragraph H of this section, the Escrow Bank may cause any one, all, or any combination of the duties stated in paragraph H to be performed on its behalf by any trust bank. J. If at any time the Escrow Bank fails to account for any moneys or Federal Securities held by it or by any such trust bank in the Escrow Account, such moneys and securities shall be and remain the property of the City. K. If for any reason such moneys or Federal Securities cannot be identified, all other assets of the Escrow Bank and of each such trust bank failing to account therefor shall be impressed with a trust for the amount thereof, and the City shall be entitled to a preferred claim upon such assets. L. No money paid into and accounted for in the Escrow Account shall ever be considered as an asset of the Escrow Bank and neither the Escrow Bank nor any such trust bank shall have any right or title with respect thereto.