Blocking Account definition

Blocking Account means a blocking account (collateral current account) in the Client’s name that serves as one of the means for securing the Client’s obligations through a form of Cash Collateral; it is opened and maintained for the Client by the Bank under a Blocking Account Agreement and a pledge in favour of the Bank is or may be established over receivables resulting from it.
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Examples of Blocking Account in a sentence

  • Upon enforcing the block, assets subject to such blocking shall be classified as blocked assets and get transfered from the Safekeeping Account of the holder to his/her Blocking Account.

  • Payment Order for the transfer of funds to the Blocking Account shall be made in writing with the template defined in the instructions on procedures of operation of the Central Depositary.

  • In this context, it is expected that the necessary steps will be taken.

Related to Blocking Account

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Funding Accounts has the meaning assigned to such term in Section 4.01(h).

  • Billing Account is the checking account from which all Service fees will be automatically debited.

  • Running Account Bill means a bill for the payment of "On Account" money to the Contractor during the progress of work on the basis of work done and the supply of non-perishable materials to be incorporated in the work.

  • Prefunding Account The separate Eligible Account created and maintained by the Trustee pursuant to Section 3.06 in the name of the Trustee for the benefit of the Certificateholders and designated "U.S. Bank National Association, in trust for registered holders of CSFB Mortgage Pass-Through Certificates, CSFB ABS Trust Series 2001-HE12" Funds in the Prefunding Account shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement and shall not be a part of any REMIC created hereunder; provided, however, that any investment income earned from Permitted Investments made with funds in the Prefunding Account shall be for the account of the Depositor.

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

  • Trading Account means the unique personified register of all completed transactions, open positions, orders and nontrading operations on the trading platform.

  • Clearing Account Agreement means that certain agreement relating to clearing account services by and among Mortgage Borrower, Lender and Clearing Account Bank, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time, relating to the operation and maintenance of, and application of funds in, the Clearing Account.

  • Special Account means the account referred to in Section 2.02 (b) of this Agreement;

  • Holding Account means an account:

  • Initial Account has the meaning specified in the Transfer Agreement.

  • Clearing Account has the meaning set forth in Section 2.7.1 hereof.

  • Pre-Funding Account means the account designated as the Pre-Funding Account in, and which is established and maintained pursuant to Section 7.07.

  • Concentration Account Agreement as defined in subsection 4.16(b).

  • Concentration Account has the meaning provided in Section 6.13(c).

  • Control Account means a Securities Account or Commodities Account that is the subject of an effective Securities Account Control Agreement and that is maintained by any Loan Party with an Approved Securities Intermediary. “Control Account” includes all Financial Assets held in a Securities Account or a Commodities Account and all certificates and instruments, if any, representing or evidencing the Financial Assets contained therein.

  • Collection Account Agreement means an agreement substantially in the form of Exhibit VI among Originator, Seller, the Agent and a Collection Bank.

  • Control Account Agreement means any tri-party agreement by and among a Loan Party, the Administrative Agent and a depositary bank or securities intermediary at which such Loan Party maintains a Controlled Account, in each case in form and substance satisfactory to the Administrative Agent.

  • Special Accounts means the accounts referred to in Section 2.02 (b) of this Agreement;

  • Reserve Account Initial Deposit means cash or Eligible Investments having a value of at least $____________.

  • Segregated Account means a client bank account as defined by and held in accordance with the Applicable Regulations.

  • Loss Proceeds Account has the meaning set forth in Section 3.3(a).

  • Revenue Account means the Revenue Account established pursuant to the Resolution. “Revenues” means the Pledged Receipts and Recoveries of Principal.