Custodial Fund definition

Custodial Fund or “Fund” means the fund maintained in accordance with the terms of this Agreement, including both the Cash Account and the Investment Account.
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Custodial Fund means a fund or funds managed by the Foundation pursuant to a custodial fund agreement wherein the Funds are not owned by the Foundation.
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Custodial Fund means the fund established by the Employer as a convenient method of setting aside a portion of its assets to meet its obligations under the Plan, as provided in Section 5.1. The Custodial Fund shall be composed of the total of all assets held by the Custodians (including Contracts issued under the Plan to the Employer by any Custodian) in accordance with the terms of the Plan. The portion of the Custodial Fund held by each Custodian shall constitute a custodial account or contract (within the meaning of Sections 401(f) and 457(g)(3) of the Code).
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Examples of Custodial Fund in a sentence

  • The following is the District’s fiduciary fund: Custodial Fund – is used to account for real property taxes collected on behalf of other governments and disbursed to those governments.

  • As a result of the implementation of GASB Statement No. 84 "Fiduciary Activities", the District made a prior period adjustment to record net position for its Custodial Fund within its fiduciary activities.

  • As a result, the collection and remittance of education taxes on behalf of other governments are now presented in a Custodial Fund.

  • Additionally, the City reports the following fund types: Fines Custodial Fund – The Fines Custodial Fund is an Agency Fund that has been established to account for amounts held in custody for individuals and other governments in connection with Municipal Court cases not yet adjudicated.

  • The Custodial Fund is presented in the fiduciary fund financial statements.

  • The Custodial Fund is used to account for assets held by the District as an agent for individuals, private organizations and other governments.

  • Custodial Fund (WV Code Chapter 5) Fund 0102 FY 2018 Org 0100 Personal Services and Employee Benefits...............................

  • If the Employer has designated a Custodian in the Adoption Agreement, the term "Custodial Fund" shall be substituted for "Trust Fund" throughout this Plan, the Trust Agreement and the Adoption Agreement.

  • NOTE: If the district accounts for pupil activity revenues and expenditures in a custodial fund type, refer to the Trust and Custodial Fund explanation contained within this section.

  • The Authority had two types of activities that met the criteria to be reported as a fiduciary fund in the basic financial statements: (1) the Pension and Other Post-Employee Benefit Trust Funds and (2) the Custodial Fund.

Related to Custodial Fund

  • Custodial P&I Account The Custodial P&I Account, as defined in each of the Servicing Agreements, with respect to the Mortgage Loans. In determining whether the Custodial P&I Account under any Servicing Agreement is "acceptable" to the Master Servicer (as may be required by the definition of "Eligible Account" contained in the Servicing Agreements), the Master Servicer shall require that any such account shall be acceptable to each of the Rating Agencies. Custodian: Initially, the Trustee, and thereafter the Custodian, if any, hereafter appointed by the Trustee pursuant to Section 8.13, or its successor in interest under the Custodial Agreement. The Custodian may (but need not) be the Trustee or any Person directly or indirectly controlling or controlled by or under common control of the Trustee. Neither a Servicer, nor the Seller nor the Master Servicer nor any Person directly or indirectly controlling or controlled by or under common control with any such Person may be appointed Custodian.

  • Custodial Account The separate account or accounts created and maintained pursuant to Section 4.04.

  • Whole Loan Custodial Account means the “Whole Loan Custodial Account” established for the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement.

  • Custodial Accounts Each custodial account (other than an Escrow Account) established and maintained by a Servicer pursuant to a Purchasing and Servicing Agreement or Servicing Agreement, as applicable.

  • Servicer Custodial Account The separate Eligible Account or Accounts created and maintained by the Servicer pursuant to Section 3.08(b).

  • Loan Combination Custodial Account means the “Loan Combination Custodial Account” or analogous account established for the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement.

  • Custodial Care means help in transferring, eating, dressing, bathing, toileting and other such related activities. Custodial care does not include Covered Services determined to be Medically Necessary.

  • Custodial Account for P&I The Custodial Account for principal and interest established and maintained by each Servicer pursuant to its Selling and Servicing Contract and caused by the Master Servicer to be established and maintained pursuant to Section 3.02 (a) with the corporate trust department of the Trustee or another financial institution approved by the Master Servicer such that the rights of the Master Servicer, the Trustee and the Certificateholders thereto shall be fully protected against the claims of any creditors of the applicable Servicer and of any creditors or depositors of the institution in which such account is maintained, (b) within FDIC insured accounts (or other accounts with comparable insurance coverage acceptable to the Rating Agencies) created, maintained and monitored by a Servicer or (c) in a separate non-trust account without FDIC or other insurance in an Eligible Institution. In the event that a Custodial Account for P&I is established pursuant to clause (b) of the preceding sentence, amounts held in such Custodial Account for P&I shall not exceed the level of deposit insurance coverage on such account; accordingly, more than one Custodial Account for P&I may be established. Any amount that is at any time not protected or insured in accordance with the first sentence of this definition of "Custodial Account for P&I" shall promptly be withdrawn from such Custodial Account for P&I and be remitted to the Investment Account.

  • Custodial File Any mortgage loan document in the Mortgage File that is required to be delivered to the Trustee or Custodian pursuant to Section 2.01(b) of this Agreement.

  • Custodial parent means a parent awarded custody by a court decree. In the absence of a court decree, it is the parent with whom the child resides more than one half of the calendar year without regard to any temporary visitation.

  • Servicer Account means any account established by Servicer in connection with the servicing of the Mortgage Loans.

  • Noncustodial parent means a person who, at the time of the commencement of court proceedings in the sending state, does not have sole legal custody of the child or has joint legal custody of a child, and who is not the subject of allegations or findings of child abuse or neglect.

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • Sub-Servicing Account An account established by a Sub-Servicer which meets the requirements set forth in Section 3.08 and is otherwise acceptable to the Master Servicer.

  • Custodial Agent means the Person who is then the Custodial Agent thereunder.

  • Servicing Account The account or accounts created and maintained pursuant to Section 3.09.

  • Special Servicing Fee shall have the meaning given to such term in the Servicing Agreement.

  • Note Account As defined in the Indenture.

  • Custodial Services means the safekeeping and management of an

  • Master Servicing Fee As to any Distribution Date, an amount equal to one-twelfth the product of (a) the Master Servicing Fee Rate and (b) the outstanding principal balance of each Mortgage Loan. Master Servicing Fee Rate: 0.00% per annum.

  • Subordination Agent Has the meaning specified in the Intercreditor Agreement.

  • Note A-1 Trust Fund means the trust formed pursuant to the Note A-1 PSA.

  • Custodial Institution means any Entity that holds, as a substantial portion of its business, financial assets for the account of others. An entity holds financial assets for the account of others as a substantial portion of its business if the entity’s gross income attributable to the holding of financial assets and related financial services equals or exceeds 20 percent of the entity’s gross income during the shorter of: (i) the three-year period that ends on December 31 (or the final day of a non-calendar year accounting period) prior to the year in which the determination is being made; or (ii) the period during which the entity has been in existence.

  • Custodial agency means an agency of the government designated to act on behalf of the government owner of the disposal site.

  • Excess Servicing Fees With respect to each Mortgage Loan (including an REO Mortgage Loan), that portion of the Servicing Fee that accrues at a per annum rate equal to the Excess Servicing Fee Rate.

  • Investor Servicing Fee means, with respect to any Distribution Date, an amount equal to the product of the Investor Servicing Fee Percentage and the Series Investor Interest on the first day of the Due Period related to such Distribution Date (or in the case of the first Distribution Date for the Series established hereby, the Series Initial Investor Interest).