- SPECIAL FUND, ACCOUNTS ETC Sample Clauses

- SPECIAL FUND, ACCOUNTS ETC. 6.1 Owners’ interest in funds held by Manager Any person ceasing to be the Owner of any Undivided Share or Shares in the Land and the Building shall in respect of the Undivided Share or Shares of which he ceases to be the Owner thereupon cease to have any interest in the funds held by the Manager including the deposits paid under Clause 5.9 and his contributions towards the Special Fund paid under Clause 5.8 of this Deed to the intent that all such funds shall be held and applied for the management and maintenance of the Land and the Building irrespective of changes in ownership of the Undivided Shares in the Land and the Building PROVIDED THAT any deposits as security for the payment of sums due hereunder or the balance thereof paid under Clause 5.9 may be transferred into the name of the new Owner of such Undivided Shares and PROVIDED FURTHER THAT upon the Land reverting to the Government and no further government lease or land grant being obtainable, any balance of the said funds held by the Manager shall be divided proportionately between Owners contributing to the Management Expenses immediately prior to such reversion, or in the case of extinguishment of rights and obligations as provided in Clause 9.1 hereof, an appropriate part of the said funds shall be divided proportionately between Owners whose rights and obligations are extinguished in proportion to their Undivided Shares.
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- SPECIAL FUND, ACCOUNTS ETC. 6.1 Owners’ interest in funds held by Manager Any person ceasing to be the Owner of any Undivided Share or Shares in the Land and the Development shall in respect of the Undivided Share or Shares of which he ceases to be the Owner thereupon cease to have any interest in the funds held by the Manager including the deposits paid under Clause 5.10 hereof and his contributions towards the Special Fund paid under Clause 5.9 of this Deed to the intent that all such funds shall be held and applied for the management and maintenance of the Land and the Development irrespective of changes in ownership of the Undivided Shares in the Land and the Development PROVIDED THAT:-
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- SPECIAL FUND, ACCOUNTS ETC 
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Related to - SPECIAL FUND, ACCOUNTS ETC

  • Accounts Excluded from Financial Accounts The following accounts are excluded from the definition of Financial Accounts and therefore shall not be treated as U.S. Reportable Accounts.

  • Negative Capital Accounts No Member shall be required to pay to any other Member or the Company any deficit or negative balance which may exist from time to time in such Member’s Capital Account (including upon and after dissolution of the Company).

  • Certificate Account; Security Distributions On or before the issuance of the Lower Tier Classes, Xxxxxx Xxx shall either (i) open with an Eligible Depository one or more trust accounts in the name of the Trustee of the Lower Tier REMIC that shall collectively be the “Certificate Account,” (ii) in lieu of maintaining any such account or accounts, maintain the Certificate Account by means of appropriate entries on its books and records designating all amounts credited thereto in respect of the Mortgage Securities and all investments of any such amounts as being held by it in its capacity as Trustee for the benefit of the Holders of the Lower Tier Classes or (iii) maintain the Certificate Account in the form of any combination of accounts or book entries described in clauses (i) and (ii) above. Any manner or manners in which the Certificate Account is maintained may at any time be changed without notice to, or the approval of, Holders of the Lower Tier Classes so long as funds held in the Lower Tier REMIC by, or for the account of, the Trustee shall at all times be identified. To the extent that the Certificate Account is maintained by the Trustee in the manner provided for in clause (ii) above, all references herein to deposits and withdrawals from the Certificate Account shall be deemed to refer to credits and debits to the related books of the Trustee. Xxxxxx Mae shall deposit in the Certificate Account all Security Distributions received by it as Trustee hereunder. All Security Distributions deposited from time to time in the Certificate Account, all investments made with such moneys, including all income or other gain from such investments, shall be held by the Trustee in the Certificate Account as part of the Lower Tier REMIC as herein provided, subject to withdrawal by Xxxxxx Xxx for the purposes set forth in Section 4.05.

  • Certificate Accounts Any time deposit, term share, share certificate, or certificate of deposit account allowed by state law (certificate account), whichever we offer, is subject to the terms of this Agreement, the Truth-in-Savings Disclosure, and the Account Receipt for each account, the terms of which are incorporated herein by reference.

  • Trust Account; Distributions On or before the issuance of the Certificates, Xxxxxx Xxx shall either (i) open with an Eligible Depository one or more trust accounts in the name of the Trustee of the Trust Fund that shall collectively be the “Trust Account”, (ii) in lieu of maintaining any such account or accounts, maintain the Trust Account by means of appropriate entries on its books and records designating all amounts credited thereto in respect of the Lower Tier Regular Classes and all investments of any such amounts as being held by it in its capacity as Trustee for the benefit of the Holders of the Trust Fund Certificates or

  • Reserve Account (a) On the Closing Date, the Seller shall deposit the Specified Reserve Balance into the Reserve Account. Amounts held from time to time in the Reserve Account shall be held by the Trust Collateral Agent for the benefit of the Noteholders.

  • Special Account 1. For the purposes of this Schedule:

  • Special Accounts 1. For the purposes of this Schedule:

  • CUSTODIAL ACCOUNTS It is agreed that all accounts opened under the Uniform Gift to Minors Act (UGMA), the Uniform Transfers to Minors Act (UTMA), or similar state statutes will be properly created and that all property so transferred will be done in compliance with such applicable statutes. There will be good faith reliance upon the instructions given, representations made and actions taken by a transferor or custodian. Further, the custodian represents and warrants that the assets in the account belong to the minor and that all such assets, whether or not transferred out of the UGMA or UTMA account, will only be used for the benefit of the minor.

  • Member's Capital Accounts A Capital Account for the Member shall be maintained by the Company. The Member's Capital Account shall reflect the Member’s capital contributions and increases for any net income or gain of the Company. The Member’s Capital Account shall also reflect decreases for distributions made to the Member and the Member’s share of any losses and deductions of the Company.

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