Unit Account Sample Clauses

Unit Account. (a) The Trustee shall establish and maintain one or more Eligible Accounts (collectively, the "Unit Account"), held in trust for the benefit of the Unitholders and, subject to any security interest in the Trust Property granted in favor of the Swap Counterparty pursuant to the Swap Agreement and the obligation of the Trust to pay Extraordinary Trust Expenses. The Trustee, on behalf of the Unitholders, shall possess all right, title and interest in all funds on deposit from time to time in the Unit Account and in all proceeds thereof, subject to any security interest in the Trust Property granted in favor of the Swap Counterparty pursuant to the Swap Agreement and the obligation of the Trust to pay Extraordinary Trust Expenses. The Unit Account shall be under the sole dominion and control of the Trustee. The Trustee shall deposit or cause to be deposited in the Unit Account all amounts collected with respect to the Underlying Securities, Swap Agreement and the Guarantee including:
AutoNDA by SimpleDocs
Unit Account. 18 SECTION 3.06. Investment of Funds in the Accounts...........................19 SECTION 3.07
Unit Account the account of each Party that records its number of Units in the 19 Agency.
Unit Account. The Unit Account maintained by Employer for Executive shall be the record of Units granted to him by Employer under this Agreement, but shall be created solely for accounting purposes and shall not require a segregation of any Employer assets, nor the creation of any trust.
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!