XXX Deposits Sample Clauses

XXX Deposits. With respect to Deposits that are individual retirement accounts created by a trust for the exclusive benefit of an individual or his or her beneficiaries in accordance with the provisions of Section 408 of the IRC ("XXX Deposits"), Seller will appoint Buyer as successor custodian of all such XXX Deposits, including but not limited to, sending to the depositors thereof appropriate notices, and filing any appropriate applications with applicable regulatory authorities, with copies of such notices and applications being furnished to Buyer. Effective as of the Closing Date, Buyer will accept appointment as custodian with respect to such XXX Deposits and will perform all of the duties so transferred and comply with the terms of Seller's agreement with the depositor of the XXX Deposits affected thereby.
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XXX Deposits. With respect to XXX Deposits, Seller shall use commercially reasonable efforts to take appropriate action to appoint Buyer as successor custodian of all such XXX Deposits effective as of the Closing Date, including, but not limited to, sending to the Depositors thereof appropriate notices, and filing any appropriate applications with applicable regulatory authorities. At the Effective Time, Buyer shall accept appointment as custodian with respect to such XXX Deposits and shall perform all of the duties so transferred and comply with the terms of Seller’s agreement with the Depositor of the XXX Deposits affected thereby. Seller shall deliver to Buyer after the Closing Date on a commercially reasonable schedule all of the documents in Seller’s possession governing each XXX Deposit that is included in the Deposits. Seller shall prepare and file all reports to government authorities required to be filed for the period ending on the Closing Date and all prior periods. Buyer shall be responsible for all such reporting for periods commencing on the day after the Closing Date.
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XXX Deposits. With respect to Deposits that are individual retirement accounts created by a trust for the exclusive benefit of an individual or his or her beneficiaries in accordance with the provisions of section 408, section 530 and section 408A of the Code (“XXX Deposits”), Seller will appoint Purchaser as successor custodian of all such XXX Deposits, including but not limited to, sending to the depositors thereof appropriate notices, and filing any appropriate applications with applicable regulatory authorities. At the effective time of the Closing, Purchaser will accept appointment as custodian with respect to such XXX Deposits and will perform all of the duties so transferred and comply with the terms of Seller’s agreement with the depositor of the XXX Deposits affected thereby.
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XXX Deposits. XXX will not increase the rate paid on its deposits above those currently in effect except to the extent any increased rate is no higher than the second highest rate then being paid by its competitors in ANA's market, or offer or give any premium for any deposit other than one no higher in value than the second highest premium offered by competitors in its marketplace.
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XXX Deposits. The term “XXX Deposits” means any Deposits under which Seller acts as trustee or custodian associated with a trust or custodianship created for the exclusive benefit of an individual or his beneficiaries in accordance with the provisions of Xxxxxxx 000 xx xxx Xxxxxx Xxxxxx Internal Revenue Code.
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XXX Deposits. (a) With respect to Deposits that are IRAs created by a trust for the exclusive benefit of an individual or his or her beneficiaries in accordance with the provisions of Section 408, Section 530 and Section 408A of the Code (“XXX Deposits”), on the Closing Date, Seller will resign as the custodian and will appoint Purchaser as successor custodian of all such XXX Deposits, including but not limited to, sending to the depositors thereof appropriate notices, and filing any appropriate applications with applicable Regulatory Authorities. As of the close of business on the Closing Date, Purchaser will accept appointment as custodian with respect to such XXX Deposits and will perform all of the duties so transferred and comply with the terms of Seller’s agreement with the depositor of the XXX Deposits affected thereby. If any individual depositor holding an XXX Deposit refuses to accept the designation or appointment of Purchaser as successor trustee or custodian, Purchaser shall promptly so inform Seller, and none of the XXX Deposits for such depositor shall be treated as Deposits hereunder, and shall remain the liability and obligation of Seller.
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XXX Deposits. With respect to Deposits that are individual retirement accounts consisting solely of Deposits, created by a trust for the exclusive benefit of an individual or his or her beneficiaries in accordance with the provisions of Section 408 of the IRC (“XXX Deposits”) as to which Seller is the custodian or trustee, Seller will use commercially reasonable efforts and cooperate with Purchaser before and after the Closing Date in taking whatever actions are reasonably necessary to accomplish the appointment of Purchaser as successor custodian of all such XXX Deposits (except self-directed XXX Deposits) pursuant to a form of appointment acceptable to Seller and Purchaser. Effective as of the Closing Date, Purchaser will accept appointment as custodian with respect to such XXX Deposits and will perform all of the duties so transferred and comply with the terms of Seller’s agreement with the depositor of the XXX Deposits affected thereby. The form of Seller’s agreement for XXX Deposits is attached as Exhibit A.
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XXX Deposits. Seller shall: (i) resign as of the Closing Date as the trustee/custodian of each XXX deposit liability (“XXX Deposits”) of which it is the trustee/custodian; (ii) to the extent permitted by the documentation governing each XXX, appoint Buyer as successor trustee/custodian thereof, and Buyer agrees to accept each such trusteeship/custodianship and assume all fiduciary obligations with respect thereto as of the Closing; and (iii) deliver to the XXX grantor and/or named fiduciary of each XXX such notice of the foregoing as is required by the documentation governing such XXX. If, pursuant to the terms of the documentation governing such XXX, the XXX grantor objects in writing to such assignment, or is entitled to name a successor trustee/custodian and names a successor trustee/custodian other than Buyer, all deposits held under such XXX shall be excluded from the Assumed Liabilities.
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Related to XXX Deposits

  • Net Deposits As an administrative convenience, unless the Servicer is required to remit collections within two Business Days of the Posted Date, the Servicer will be permitted to make the deposit of collections net of distributions, if any, to be made to the Servicer with respect to the Collection Period. The Servicer, however, will account to the Trustee, the Indenture Trustee, the Noteholders and the Certificateholders as if all deposits, distributions and transfers were made individually.

  • Initial Deposits On the Closing Date and on each Addition Date thereafter, the Servicer will deposit (in immediately available funds) into the Collection Account all Collections received after the applicable Cut-Off Date and through and including the Closing Date or Addition Date, as the case may be, in respect of Eligible Assets being transferred to and included as part of the Collateral on such date.

  • Deposits to the Collection Account and Special Payments Account (a) The Subordination Agent shall, upon receipt thereof, deposit in the Collection Account all Scheduled Payments received by it (other than any Scheduled Payment which by the express terms hereof is to be deposited to a Cash Collateral Account).

  • Cash Deposits During the term of this Agreement, Trust will deliver or cause to be delivered to Custodian all moneys to be held by the Custodian for the account of any Fund. Subject to the terms and conditions set forth in this Section 7, the Trust hereby authorizes the Custodian to open and maintain, with itself or with Sub-custodians, cash accounts in United States Dollars, in such other currencies as are the currencies of the countries in which Trust maintains Investments or in such other currencies as Trust shall from time to time request by Written Instruction. Notwithstanding anything in this Agreement to contrary effect, the Trust shall be liable as principal for any overdrafts occurring in any cash accounts. Custodian shall be entitled to reverse any deposits made on Trust's or any Fund’s behalf where such deposits have been entered and moneys are not finally collected within 20 days of the making of such entry.

  • Interest Bearing Deposits Upon receipt of Proper Instructions directing the Custodian to purchase interest bearing fixed term and call deposits (hereinafter referred to collectively, as "Interest Bearing Deposits") for the account of the Fund, the Custodian shall purchase such Interest Bearing Deposits in the name of the Fund with such banks or trust companies (including the Custodian, any Subcustodian or any subsidiary or affiliate of the Custodian) (hereinafter referred to as "Banking Institutions") and in such amounts as the Fund may direct pursuant to Proper Instructions. Such Interest Bearing Deposits may be denominated in U.S. Dollars or other currencies, as the Fund may determine and direct pursuant to Proper Instructions. The Custodian shall include in its records with respect to the Assets of the Fund appropriate notation as to the amount and currency of each such Interest Bearing Deposit, the accepting Banking Institution and all other appropriate details, and shall retain such forms of advice or receipt evidencing such account, if any, as may be forwarded to the Custodian by the Banking Institution. The responsibilities of the Custodian to the Fund for Interest Bearing Deposits accepted on the Custodian's books in the United States shall be that of a U.S. bank for a similar deposit. With respect to Interest Bearing Deposits other than those accepted on the Custodian's books, (a) the Custodian shall be responsible for the collection of income as set forth in Section 2.15 and the transmission of cash and instructions to and from such accounts; and (b) the Custodian shall have no duty with respect to the selection of the Banking Institution or, so long as the Custodian acts in accordance with Proper Instructions and the terms and conditions of this Agreement, for the failure of such Banking Institution to pay upon demand. Upon receipt of Proper Instructions, the Custodian shall take such reasonable actions as the Fund deems necessary or appropriate to cause each such Interest Bearing Deposit account to be insured to the maximum extent possible by all applicable deposit insurers including, without limitation, the Federal Deposit Insurance Corporation.

  • Establishment of Custodial Account; Deposits in Custodial Account The Seller shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts (collectively, the “Custodial Account”), titled “PrimeLending, in trust for Redwood Residential Acquisition Corporation as Purchaser of Mortgage Loans and various Mortgagors.” Such Custodial Account shall be an Eligible Account established with a commercial bank, a savings bank or a savings and loan association (which may be a depository affiliate of the Seller) which meets the guidelines set forth by the FHFA, Fxxxxx Mxx or Fxxxxxx Mac as an eligible depository institution for custodial accounts. The Custodial Account shall not be transferred to any other depository institution without the Purchaser’s approval, which shall not unreasonably be withheld. In any case, the Custodial Account shall be insured by the FDIC in a manner which shall provide maximum available insurance thereunder and which may be drawn on by the Seller. The Seller shall deposit in the Custodial Account on a daily basis, and retain therein the following payments and collections received or made by it subsequent to the related Cut-off Date (other than in respect of principal and interest on the Mortgage Loans due on or before the related Cut-off Date):

  • Cash Accounts, Deposits and Money Movements Subject to the terms and conditions set forth in this Section 7, the Fund hereby authorizes the Custodian to open and maintain, with itself or with Subcustodians, cash accounts in United States Dollars, in such other currencies as are the currencies of the countries in which the Fund maintains Investments or in such other currencies as the Fund shall from time to time request by Instruction.

  • Targeted Deposits to the Accumulation Reserve Account The deposit targeted to be made to the Accumulation Reserve Account for any Monthly Period during the Accumulation Reserve Funding Period will be an amount equal to the Required Accumulation Reserve sub-Account Amount.

  • Escrow Deposits All escrow deposits and escrow payments currently required to be escrowed with the Mortgagee pursuant to each Mortgage Loan (including capital improvements and environmental remediation reserves) are in the possession, or under the control, of the Mortgage Loan Seller or its servicer, and there are no delinquencies (subject to any applicable grace or cure periods) in connection therewith, and all such escrows and deposits (or the right thereto) that are required under the related Mortgage Loan documents are being conveyed by the Mortgage Loan Seller to the Depositor or its servicer (or, in the case of a Non-Serviced Mortgage Loan, to the related depositor under the Non-Serviced PSA or Non-Serviced Master Servicer for the related Non-Serviced Trust).

  • Deposits to the Collection Account On behalf of the Trust Fund, the Master Servicer shall deposit or cause to be deposited in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Master Servicer's receipt thereof, and shall thereafter deposit in the Collection Account, in no event more than two Business Days after the deposit of such funds into the clearing account, as and when received or as otherwise required hereunder, and retain therein, the following payments and collections received or made by it subsequent to the Cut-off Date with respect to the Mortgage Loans, or payments (other than Principal Prepayments) received by it on or prior to the Cut-off Date but allocable to a Due Period subsequent thereto:

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