Controllable account definition

Controllable account means an account evidenced by a controllable electronic record that provides that the account debtor undertakes to pay the person that has control under section 1005 of this act of the controllable electronic record.
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Controllable account means an account
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Controllable account means an account evidenced by a
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Examples of Controllable account in a sentence

  • The following definitions in other articles of the5 Uniform Commercial Code apply to this article.6 "Controllable account".

  • Our strenuous risk management efforts resulted in an RBC ratio of 287.7% (as of December 2012).


More Definitions of Controllable account

Controllable account means an account evidenced by a controllable electronic
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Controllable account means an account evidenced by a controllable electronic
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Controllable account means an account evidenced by a controllable electronic record that provides that the account debtor undertakes to pay a person that under the uniform commercial code has control of the controllable electronic record.
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Controllable account means an account evidenced by a control- lable electronic record that provides that the account debtor undertakes to pay the person that has control under section 490:A-105 of the controllable electronic record.
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Related to Controllable account

  • Expense Reserve Account The trust account established pursuant to Section 10.3(d).

  • Debt Service Reserve Fund means the fund by that name established pursuant to the Second Resolution.

  • Required Reserve Account Amount means, with respect to any Distribution Date on or after the Reserve Account Funding Date, an amount equal to (1) 0.50% of the Class A Invested Amount as of the preceding Distribution Date (after giving effect to all changes therein on such date) or (2) any other percentage (which may be 0%) of the Class A Invested Amount designated by the Transferors, provided that if such percentage is less than the percentage specified in clause (1) above, the Transferors shall have received the prior written consent of the Collateral Interest Holder and written notice from each Rating Agency that the Rating Agency Condition shall have been satisfied with respect to such designation and shall have delivered copies of each such written notice to the Servicer and the Trustee.

  • Available Reserve Account Amount means, for any Transfer Date, the lesser of (a) the amount on deposit in the Reserve Account (after taking into account any interest and earnings retained in the Reserve Account pursuant to Section 4.10(b) on such date, but before giving effect to any deposit made or to be made pursuant to subsection 4.4(a)(ix) to the Reserve Account on such date) and (b) the Required Reserve Account Amount.

  • 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.