HOLD IN TRUST definition

HOLD IN TRUST. CLIENT will hold in trust and safekeeping, as the property of ACTION, and immediately turn over to ACTION the identical check or other form of payment received by CLIENT, whenever any payment on any ACCOUNT comes into CLIENT’s possession; any failure by CLIENT in this regard constitutes a default under this Agreement (pursuant to SECTION V hereinbelow) and may result in civil and/or criminal actions against CLIENT and /or the person(s) responsible for such failure.
Sample 1
HOLD IN TRUST. CLIENT will hold in trust and safekeeping, as the property of ACTION, and immediately turn over to ACTION the identical check or other form of payment received by CLIENT, whenever any payment on an ACCOUNT purchased by ACTION comes into CLIENT's possession; ANY FAILURE BY CLIENT IN THIS REGARD CONSTITUTES A DEFAULT UNDER THIS AGREEMENT (PURSUANT TO SECTION V HEREINBELOW) AND MAY RESULT IN CIVIL AND/OR CRIMINAL ACTIONS AGAINST CLIENT AND/OR THE PERSON (S) RESPONSIBLE FOR SUCH FAILURE.
Sample 1
HOLD IN TRUST. CLIENT shall hold in trust and safekeeping, as the property of BANKERS, and immediately turn over to BANKERS the identical check or other form of payment received by CLIENT, whenever any payment on an account purchased by BANKERS comes into CLIENT's possession. Should CLIENT come into possession of a check comprising payments owing to both CLIENT and BANKERS, CLIENT shall turn over said check to BANKERS uncashed. Subject to a deduction for any amount owed BANKERS by CLIENT; BANKERS will refund CLIENT's portion to CLIENT. If CLIENT does not remit the payment to BANKERS on the next banking day after receipt of the payment by CLIENT, then in addition to any other legal remedies available to BANKERS under the law, BANKERS may assess CLIENT a fee equal to 15% of the amount of the payment received by CLIENT.
Sample 1

Examples of HOLD IN TRUST in a sentence

  • CANON 16 - A LAWYER SHALL HOLD IN TRUST ALL MONEYS AND PROPERTIES OF HIS CLIENT THAT MAY COME INTO HIS POSSESSION.

  • To secure the full and timely payment of the Indebtedness and the full and timely performance of the Obligations, Grantor GRANTS, BARGAINS, SELLS and CONVEYS to Trustee the Mortgaged Property, subject, however, to the Permitted Encumbrances, TO HAVE AND TO HOLD, IN TRUST, WITH POWER OF SALE, and Grantor does hereby bind itself, its successors and assigns to WARRANT AND FOREVER DEFEND the title to the Mortgaged Property unto Trustee.

  • To secure the full and timely payment and performance of the Secured Obligations, Mortgagor hereby irrevocably MORTGAGES, GIVES, GRANTS, WARRANTS, BARGAINS, SELLS, ALIENS, PLEDGES, ASSIGNS, TRANSFERS, HYPOTHECATES and CONVEYS to Mortgagee the Mortgaged Property, subject, however, to the Permitted Encumbrances, TO HAVE AND TO HOLD, IN TRUST, and Mortgagor does hereby bind itself, its successors and assigns to WARRANT AND FOREVER DEFEND the title to the Mortgaged Property unto Mortgagee.

  • To secure the full and timely payment and performance of the Obligations, Grantor GRANTS, BARGAINS, SELLS, and CONVEYS the Collateral to Trustee (subject, however, to the Permitted Encumbrances), TO HAVE AND TO HOLD, IN TRUST, WITH POWER OF SALE, and Grantor does hereby bind itself, its successors and assigns to WARRANT AND FOREVER DEFEND the title to the Collateral unto Trustee.

  • The Kurdish community in Sweden is seen as an outlying “community of extremists and supporters of terrorism”.

  • THE COMPANY SHALL REQUIRE EACH PAYING AGENT OTHER THAN THE TRUSTEE TO AGREE IN WRITING THAT THE PAYING AGENT SHALL HOLD IN TRUST FOR THE BENEFIT OF HOLDERS OR THE TRUSTEE ALL MONEY HELD BY THE PAYING AGENT FOR THE PAYMENT OF PRINCIPAL, PREMIUM OR LIQUIDATED DAMAGES, IF ANY, OR INTEREST ON THE NOTES, AND SHALL NOTIFY THE TRUSTEE OF ANY DEFAULT BY THE COMPANY IN MAKING ANY SUCH PAYMENT.

  • EXCEPT AS HEREINAFTER PROVIDED, ON OR PRIOR TO EACH DATE, THE COMPANY WILL DEPOSIT WITH THE TRUSTEE OR A PAYING AGENT (OR SEGREGATE AND HOLD IN TRUST) AN AMOUNT SUFFICIENT TO REDEEM $ PRINCIPAL AMOUNT OF [SECURITIES] on such date.

  • Further, respondent also violated Rules 16.01 and 16.03, Canon 16 of the CPR when he failed to return the amount of P100,000.00 representing the legal fees that complainant paid him, viz.:CANON 16 - A LAWYER SHALL HOLD IN TRUST ALL MONEYS AND PROPERTIES OF HIS CLIENT THAT MAY COME INTO HIS POSSESSION.

  • New Section; Permit Required; Exemption Amend RSA 483-B by inserting after section 5-a the following section: 483-B:5-b Permit Required; Exemption.

  • HOLD IN TRUST: CLIENT will hold in trust and safekeeping, as the property of RIVIERA, and immediately turn over to RIVIERA the identical check or other form of payment received by CLIENT, whenever any payment on an Account purchased by RIVIERA comes into CLIENT'S possession.

Related to HOLD IN TRUST

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

  • the Trust Fund means the Bond(s) referred to in the First Schedule to the Declaration of Trust and the property from time to time representing the same (and also includes any other property which may become Trust Property as a result of any loan to the Trustees or any addition by way of gift or any accumulation of income).

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

  • Segregation of Duties means the assignment of different people in the responsibility of authorising transactions, recording transactions and maintaining custody of assets with the intention of reducing the opportunities to allow any person to be in a position to both perpetrate and conceal fraud or error due to fraud in the normal course of their duties.

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

  • Trust means the arrangement through which the property of one person is made over or bequeathed to a trustee to administer such property for the benefit of another person; and

  • Trust Funds means any cash comprised of (i) funds specifically and exclusively used for payroll Taxes, payroll and other employee benefit payments to or for the benefit of any Loan Party’s or its Subsidiaries’ employees, (ii) all Taxes required to be collected, remitted or withheld (including, without limitation, federal and state withholding taxes (including the employer’s share thereof) and (iii) any other funds (A) which any Loan Party holds on behalf of another Person and (B) which such Loan Party holds as an escrow or fiduciary for such Person.

  • Securitization Trust means a trust formed pursuant to a Securitization.

  • Miscellaneous Interests means the entire interest of the Vendor in and to all property, assets and rights, other than the Petroleum and Natural Gas Rights and the Tangibles, to the extent such property, assets and rights pertain to the Petroleum and Natural Gas Rights or the Tangibles, or any rights relating thereto, including, without limitation of the generality of the foregoing, the entire interest of the Vendor in:

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

  • Trust Fund The trust fund established by the Trust Agreement, the assets of which consist of the Mortgage Loans and any other assets as set forth therein. Trustee: U.S. Bank National Association, or any successor in interest, or if any successor trustee or co-trustee shall be appointed as provided in the Trust Agreement, then such successor trustee or such co-trustee, as the case may be.

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

  • Escrow Trustee means the bank or trust company designated by the Fiscal Officer in the Certificate of Award as the initial escrow agent with respect to the Refunded Bonds under the Escrow Agreement and until a successor Escrow Trustee shall have become such pursuant to the provisions of the Escrow Agreement and, thereafter, "Escrow Trustee" shall mean the successor Escrow Trustee.

  • trust money means money held in trust on behalf of third parties in a trust contemplated in terms of section 12 of the Act.

  • Trustee Agreement means the trustee agreement entered into on or before the First Issue Date, between the Issuer and the Trustee, or any replacement trustee agreement entered into after the First Issue Date between the Issuer and a trustee, regarding, inter alia, the remuneration payable to the Trustee or a replacement trustee.

  • Non-Lead Securitization means any Securitization of a Note in a Securitization Trust other than the Lead Securitization.

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

  • Trustee Acts means both the Trustee Xxx 0000 and the Trustee Xxx 0000 of England and Wales.

  • Grantor Trust Provisions Subpart E of part I of subchapter J of the Code and Treasury Regulations Section 301.7701-4(c).

  • 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 the Indenture for the benefit of the Noteholders (including all Collateral Granted to the Indenture Trustee), including all proceeds thereof.

  • Issuer Accounts means, collectively, the Excess Funding Account, the Collection Account and any Supplemental Issuer Account, including any Sub-Accounts thereof.

  • Lockbox Account shall have the meaning set forth in Section 2.7.1 hereof.