Custodial Trust Account definition

Custodial Trust Account shall have the meaning given in Section 2.5.2. hereof.
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Custodial Trust Account means the Custodial Trust Account established to hold funds to implement necessary Environmental Actions, to pay real estate taxes, insurance, and other administrative costs of the Texas Custodial Trust, and fulfill the purposes of this Texas Custodial Trust.
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Custodial Trust Account an account at an acceptable financial institution established by the qualifying broker for the purpose of holding money of an owner. The account shall be established in the owner’s name with the qualifying broker as trustee. This account may be interest bearing.
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Examples of Custodial Trust Account in a sentence

  • Subject to Section 2.7 of this Agreement, the income and gains from any investment of the Custodial Trust Assets shall be allocated, paid and credited to such Custodial Trust Account.

  • Funds designated for a Transferred Real Property shall be held and distributed from its respective Custodial Trust Account as set forth herein, and Funds from a Custodial Trust Account may not be used for another Transferred Real Property except as otherwise expressly provided by and in accordance with this Section and Section 2.7.3 of this Agreement.

  • Each Custodial Trust Account may be divided into such number of trust subaccounts dedicated for specific uses as may be deemed necessary in the sole discretion of the Environmental Custodial Trust Trustee to comply with the terms of, and implement, the Plan, the Settlement Agreement and this Agreement.

  • All interest earned in an account shall be retained in the respective Custodial Trust Account and used only for the same purposes as the principal in that account as provided in this Settlement Agreement, subject to any reallocation approved by the Governments in accordance with the terms of this Settlement Agreement.

  • This allowed claim is in addition to the $80,740.64 allowed claim and in addition to the payment Debtors are making hereunder for the Custodial Trust Account for the Xxxxxx Springs Site.

  • All compensation payable to the Lyondell Environmental Custodial Trust Trustee shall be paid from the appropriate Custodial Trust Account based on the nature of the work being either administrative or environmental.

  • Upon such an agreement, any such excess funding remaining in the Custodial Trust Account shall be transferred as set forth in Section 2.5 (subject to the limitation described therein).

  • The Custodial Trust Assets shall be subject to the claims of the Custodial Trustee, and the Custodial Trustee shall be entitled to reimburse itself out of any available cash in the Custodial Trust Account and the Texas Custodial Trust shall be obligated to pay, for actual out-of-pocket expenses and for actual hours worked.

  • The sole purpose of this section is to authorize the investment of the funds in the Custodial Trust Account or any portions thereof as may be reasonably prudent pending use of the proceeds for the purposes of the Texas Custodial Trust.

  • The Texas Custodial Trust shall be the exclusive holder of the Custodial Trust Assets and the Custodial Trust Account described herein for purposes of 31 U.S.C. § 3713(b) and 26 U.S.C. § 6012 (b)(3).

Related to Custodial Trust Account

  • 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.

  • Trust Accounts has the meaning assigned thereto in Section 5.1.

  • Property Trustee Account has the meaning set forth in Section 3.8(c).

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

  • Trust Account means the trust account established by the Company upon the consummation of its IPO and into which a certain amount of the net proceeds of the IPO, together with a certain amount of the proceeds of a private placement of warrants simultaneously with the closing date of the IPO, will be deposited.

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

  • 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.

  • Note A-4 Trust Fund means the trust formed pursuant to the Note A-4 PSA.

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

  • Collateral Trust Agreement means that certain Collateral Trust Agreement, dated as of the Closing Date, by and among Collateral Trustee and Lenders, as amended, restated, supplemented or otherwise modified from time to time.

  • Lead Securitization Trust means the Securitization Trust created in connection with the Lead Securitization.

  • Trust Account Property means the Trust Accounts, all amounts and investments held from time to time in any Trust Account (whether in the form of deposit accounts, Physical Property, book-entry securities, uncertificated securities or otherwise), and all proceeds of the foregoing.

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

  • Certificate Administrator Accounts As defined in Section 3.07(a) of this Agreement.

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

  • Non-Lead Securitization Trust means the Securitization Trust into which any Non-Lead Securitization Note is deposited.

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

  • Liquidating Trust Agreement means an agreement evidencing the terms and provisions governing a Liquidating Trust that shall be entered into prior to the establishment of such Liquidating Trust and pursuant to which a Liquidating Trustee shall manage and administer Liquidating Trust Assets.

  • Master Trust Agreement means the Second Amended and Restated Trust Agreement, dated as of May 8, 2019, between Verizon ABS II LLC, as depositor, and the Master Trust Owner Trustee, as amended, restated, supplemented or modified from time to time.

  • Indenture Trust Estate means all money, instruments, rights and other property that are subject or intended to be subject to the lien and security interest of Indenture for the benefit of the Noteholders (including, without limitation, all property and interests Granted to the Indenture Trustee), including all proceeds thereof.

  • Master Trust Trustee means the entity acting as trustee under the applicable Pooling and Servicing Agreement.

  • 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.

  • Liquidation Trust Agreement means the Liquidation Trust Agreement to be dated as of the Effective Date establishing the terms and conditions of the Liquidation Trust, substantially in the form attached hereto as Exhibit B.

  • Certificate Account The account maintained by the Trustee in accordance with the provisions of Section 4.04.

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

  • Trust Agent means U.S. Bank, as Trust Agent under the Titling Trust Agreement.