Examples of Depository in a sentence
Transfers within the systems of the Depository are not the responsibility of the Warrant Agent and will not be noted on the register maintained by the Warrant Agent.
On the Latest Servicer Remittance Date preceding each Distribution Date, the Master Servicer will confirm that, pursuant to Section 6.3, funds have been transferred from any Custodial Account for any Primary Servicer required to remit on or before that date to one or more Certificate Accounts or to a clearing account at an Eligible Depository, such clearing account to exist for the purpose of receiving funds held in trust.
On an exchange of the whole of this Temporary Regulation S Global Note, this Temporary Regulation S Global Note shall be surrendered to the Depository at its office.
Temporarily, however, prior to depositing such funds as contemplated by Subsection 6.1(2), a Primary Servicer may hold such funds in a clearing account that is either in an Eligible Depository or is a deposit account insured by the Federal Deposit Insurance Corporation, the National Credit Union Share Insurance Fund or such other governmental insurer or guarantor as may be acceptable to the Guarantor, and that in any case may include collections on other mortgage loans without regard to their ownership.
Each Custodial Account will be established in the name of the Master Servicer or the Trustee for the benefit of the Holders under one or more Trusts (or as otherwise directed in the related Servicing Contract) and so identified to the Eligible Depository (or other depository if permitted by paragraph (b) of this Subsection 6.1(1)) as a Custodial Account for the Master Servicer or the Trustee.