Common use of The Trust Account Clause in Contracts

The Trust Account. The Trustees shall, upon issuance of the TrUEPrS, establish with the Paying Agent an account to be called the "Trust Account". All moneys received by the Trustees in respect of the Debt Securities and the Jersey Preference Shares, and all moneys received from the sale of the TrUEPrS to the Sponsor, shall be credited to the Trust Account, which shall be non-interest bearing.

Appears in 2 contracts

Samples: Trust Agreement (Anz Exchangeable Preferred Trust), Trust Agreement (Nab Exchangeable Preferred Trust)

AutoNDA by SimpleDocs

The Trust Account. The Trustees shall, upon issuance of the ----------------- TrUEPrS, establish with the Paying Agent an account to be called the "Trust Account". All moneys received by the Trustees in respect of the Debt Securities and the Jersey Preference Shares, and all moneys received from the sale of the TrUEPrS to the Sponsor, shall be credited to the Trust Account, which shall be non-interest bearing.

Appears in 2 contracts

Samples: Trust Agreement (Anz Exchangeable Preferred Trust Ii), Trust Agreement (Def Exchangeable Preferred Trust)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!