Fund Custodial Account definition

Fund Custodial Account shall have the meaning set forth in Section 2.5(a).
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Fund Custodial Account has the meaning set forth in the Custodial Agreement.
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Examples of Fund Custodial Account in a sentence

  • Upon the execution hereof, the Syndicate shall fund its Guaranty Fund Custodial Account with cash or marketable securities having market value of not less than $1,000,000.

  • The Syndicate's Guaranty Fund Custodial Account will continue to be available to the Guaranty Fund for a period of three (3) years from the date hereof (unless sooner released by resolution of the IIE Board of Trustees), to the extent provided in the Regulations in effect on the date of this Agreement.

  • At the next meeting of the IIE Board of Trustees following the execution of this Agreement, the Board shall adopt a standing resolution (a copy of which will be provided to FMIC promptly following adoption) authorizing the release to FMIC, on the third annual anniversary of the Closing Date, of all amounts remaining in the Syndicate's Guaranty Fund Custodial Account and not already finally determined to be available for insolvencies pursuant to the provisions of Section 4.3(A) hereof.

  • All interest or other income accrued or paid with respect to the Guaranty Fund Custodial Account shall inure to the benefit of Alpine.

  • Acting as agent for Plan Fiduciaries, KSvC shall instruct the Master Custodian to wire the full purchase price for Fund shares purchased by Plans to the appropriate custodial account for the Fund (the "Fund Custodial Account") no later than 11 a.m. Central Time on the next Business Day after the order is accepted by KSvC (T+1), or such other specified time mutually acceptable to the parties.

  • Neither the Guaranty Fund nor the IIE shall withdraw or use assets held in the Syndicate's Guaranty Fund Custodial Account for any purpose other than as specifically permitted in this Agreement or as permitted under the terms of Section 15 of the Regulations as in effect on the date hereof.

  • The Syndicate's Guaranty Fund Custodial Account shall be available for insolvencies determined prior to the date hereof or insolvencies determined within the three (3) year period following the date hereof, but only for losses arising on or before the date hereof.

  • In the event of any judicial proceeding seeking a determination that the Syndicate's Guaranty Fund Custodial Account was improperly released, the IIE, IASA or Guaranty Fund (as applicable) promptly shall provide notice thereof (and of any proposed settlement thereof) to Alpine, and Alpine shall have the right to defend the IIE, IASA and Guaranty Fund (as applicable) and to agree to any settlement thereof which would be payable by Alpine pursuant to this indemnification.

  • The Syndicate currently maintains in its Guaranty Fund Custodial Account assets having a market value of $1,000,000 or more.

  • The Syndicate's Guaranty Fund Custodial Account will continue to be available to the Guaranty Fund for a period of three (3) years from the date hereof (unless sooner released by resolution of the IIE Board of Trustees), to the extent provided in the Regulations.

Related to Fund Custodial Account

  • 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.

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

  • Custodial Accounts Each Custodial Account (other than an Escrow Account) established and maintained by a Servicer pursuant to a Servicing Agreement with respect to the Mortgage Loans.

  • 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 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.

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

  • Fund Custody Account means any of the accounts in the name of the Trust, which is provided for in Section 3.2 below.

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

  • 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.

  • Subservicing Account An account established by a Subservicer in accordance with Section 3.08.

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

  • 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.

  • Master Servicer Collection Account The trust account or accounts created and maintained pursuant to Section 4.02, which shall be denominated "JPMorgan Chase Bank, as Trustee f/b/o holders of Structured Asset Mortgage Investments Inc., Bear Stearns ARM Trust, Mortgage Pass- Thrxxxx Xxrtificates, Series 2003-1 - Master Servicer Collection Account." The Master Servicer Collection Account shall be an Eligible Account.

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

  • Interest Collection Account A Securities Account created and maintained on the books and records of the Securities Intermediary entitled “Interest Collection Account” in the name of the Borrower and subject to the prior Lien of the Collateral Agent for the benefit of the Secured Parties.

  • Servicing Accounts The account or accounts created and maintained pursuant to Section 3.08.

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

  • Collection Account Agreement means each agreement substantially in the form of Exhibit VI, or such other form as may be acceptable to the Agent, among the applicable Originator, a Seller, Collection Bank and the Agent, as it may be amended, restated, supplemented or otherwise modified and in effect from time to time.

  • Yield Supplement Account means the account designated as such, and established and maintained pursuant to Section 4.01.

  • REO Account The account or accounts maintained by the Master Servicer in respect of an REO Property pursuant to Section 3.23.

  • Payment Account means a segregated non-interest-bearing corporate trust account maintained by the Property Trustee for the benefit of the Holders in which all amounts paid in respect of the Notes will be held and from which the Property Trustee, through the Paying Agent, shall make payments to the Holders in accordance with Sections 3.1, 4.1 and 4.2.

  • Transaction Account means a cash account established and maintained by Repo Custodian for the Funds to effect repurchase transactions pursuant to the Master Agreement.

  • Collection Accounts As defined in Section 3.10(a).

  • Note Account As defined in the Indenture.

  • Administration Account As defined in Section 7.02.