Preferred Equity Account definition

Preferred Equity Account one or more accounts to be established by the Borrower prior to the first Loan hereunder at the Federal Reserve Bank of New York as Preferred Equity Account Bank, it being understood that the Preferred Equity Account may consist of a securities account and a deposit account (and one or more additional accounts) on the books and records of the Preferred Equity Account Bank and that all accounts established pursuant to the Preferred Equity Account Documentation are referred to herein collectively as the Preferred Equity Account.
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Preferred Equity Account as defined in the Credit Agreement, and any successor or replacement for such account.
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Preferred Equity Account means, collectively, the deposit account and the securities account established pursuant to the Account Agreement for the purpose of holding all or part of the Preferred Equity Member’s equity contribution to the LLC. The Managing Member and the Preferred Equity Member hereby agree as follows: The Managing Member will, as soon as reasonably practicable, initially invest 85% of the amount transferred by the Preferred Equity Member to the Preferred Equity Account in SPV securities issued pursuant to the Investment MOU, but without prejudice to the Managing Member’s right to redeem such SPV securities at any time following such initial investment in accordance with the Investment MOU; and Any remaining amounts in the Preferred Equity Account (those not invested in SPV securities) are intended to provide a cash buffer for the liquidity needs of the LLC. The Managing Member will hold these amounts in cash or in such other instruments as may be further agreed from time to time in writing in accordance with section 12 of the LLC Agreement and section 3 of the Account Agreement. However, no further agreement is required for the LLC to invest additional amounts in SPV securities issued pursuant to the Investment MOU. The agreements contained herein may be changed or supplemented from time to time as agreed in writing in accordance with section 12 of the LLC Agreement and section 3 of the Account Agreement. FEDERAL RESERVE BANK OF NEW YORK, As Managing Member Name: By: Title: Assistant Vice President UNITED STATES DEPARTMENT OF THE TREASURY,‌ As Preferred Equity Member By: Name: Title: Under Secretary for International Affairs Consented to: FEDERAL RESERVE BANK OF NEW YORK,‌ As Secured Party By: Name: Title: Executive Vice President
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Examples of Preferred Equity Account in a sentence

  • On each Repayment Date, the Borrower shall transfer to the Preferred Equity Account any amount payable under clause (4) of the Priority of Payments.

  • Any Senior Shortfall Amount pursuant to Section 2.8(b) shall be applied by transferring such amount from the Preferred Equity Account to the Custodian Reserve Account.

  • On each Repayment Date, the Borrower shall apply, or cause to be applied, funds from the Preferred Equity Account in an amount equal to the Senior Shortfall Amount (or, if such Senior Shortfall Amount is greater than the amount in the Preferred Equity Account, all funds in the Preferred Equity Account) pursuant to the Priority of Payments.

  • The Managing Member shall provide written confirmation to the Preferred Equity Member upon receiving confirmation that the $10 billion has been deposited in the Preferred Equity Account.

  • Following the execution of the May 29 Agreement, the Preferred Equity Member transferred the UST Contribution Amount in cash, and no other property, from the Exchange Stabilization Fund to the Preferred Equity Account as a contribution to the capital of the Company.

  • During this period I faced problems with language communication; many times I had to ask other people to help me in making phone calls and deal with different situations for me.

  • Except for the Investment Account, the Preferred Equity Account and the Clearing Account (and any sub-accounts of any thereof), open or maintain any deposit account or securities account.

  • The Preferred Equity Account shall have been funded with an initial balance of U.S.$37,500,000,000 (THIRTY-SEVEN BILLION FIVE HUNDRED MILLION DOLLARS).

  • Concurrently with the execution and delivery of this Agreement, and concurrently with the acquisition of any additional Collateral at any time after the date hereof (including the establishment of the Preferred Equity Account), the Borrower shall take such actions as shall be necessary to effect Delivery of such Collateral to the Secured Party.

  • The Borrower shall have the right to sell or otherwise Dispose of, free and clear of the Lien and security interest created hereby, any Collateral in the manner and under the circumstances provided for in the Custodian Agreement or the Preferred Equity Account Documentation, as applicable.


More Definitions of Preferred Equity Account

Preferred Equity Account. “Principal Proceeds”, “Realized Losses”, “Security Documents”, “Senior Expense Amounts”, “Senior Shortfall Amounts” and “Settlement Date” are defined in the Credit Agreement.
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Preferred Equity Account means an account of the Borrower held at Bank of America, N.A. into which proceeds of the Series A Preferred Equity of the Borrower issued on the Third Amendment Effective Date are deposited.
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Preferred Equity Account means, for each Member, the cumulative Preferred Equity Contributions of that Member, less the cumulative distributions to that Member in return thereof pursuant to Section 4.2(d).
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Related to Preferred Equity Account

  • Company-Sponsored Equity Account means an account that is created with the Equity Account Administrator in connection with the administration of the Company’s equity plans and programs, including the Plan.

  • Investment Accounts means the Collateral Account, Securities Accounts, Commodities Accounts and Deposit Accounts.

  • Liquidity Account Investments means Deposit Securities or any other security or investment owned by the Fund that is rated not less than A3 by Moody’s, A- by Standard & Poor’s, A- by Fitch or an equivalent rating by any other NRSRO (or any such rating’s future equivalent).

  • Investment Account As defined in Section 3.12(a).

  • Liquidity Account has the meaning set forth in Section 6.22(a).

  • Equity Account Administrator means the brokerage firm utilized by the Company from time to time to create and administer accounts for participants in the Company’s equity plans and programs, including the Plan.

  • L/C Cash Deposit Account means an interest bearing cash deposit account to be established and maintained by the Agent, over which the Agent shall have sole dominion and control, upon terms as may be satisfactory to the Agent.

  • Deposit Account means a demand, time, savings, passbook or like account with a bank, savings and loan association, credit union or like organization, other than an account evidenced by a negotiable certificate of deposit.

  • Trading Account means the unique personified register of all completed transactions, open positions, orders and nontrading operations on the trading platform.

  • Current Account means a form of demand deposit wherefrom withdrawals are allowed any number of times depending upon the balance in the account or up to a particular agreed amount and will also include other deposit accounts which are neither Savings Deposit nor Term Deposit.

  • Controlled Securities Account means each securities account (including all financial assets held therein and all certificates and instruments, if any, representing or evidencing such financial assets) that is the subject of an effective Control Agreement.

  • Facility Account means the account of Seller at Bank One, Account ---------------- No. 10-36987.

  • Excluded Account means (a) any deposit account specifically and exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of any Loan Party’s employees and (b) any Xxxxx Cash Accounts.

  • Note Distribution Account means the account designated as such, established and maintained pursuant to Section 5.1(a)(ii).

  • Pre-Funding Account means the account designated as the Pre-Funding Account in, and which is established and maintained pursuant to Section 7.07.

  • Security Account “Software”, and “Supporting Obligations”.

  • Note Payment Account means the account established and maintained as such pursuant to Section 4.1(b).

  • Financing Accounts means, collectively, the Credit Account and the Grant Account (or, where the context so requires, either of the Credit Account or the Grant Account).”

  • Securities Accounts (i) shall mean all “securities accounts” as defined in Article 8 of the UCC and (ii) shall include, without limitation, all of the accounts listed on Schedule 4.4(A) under the heading “Securities Accounts” (as such schedule may be amended or supplemented from time to time).

  • Subsidy Account If the Trust Estate contains any Subsidy Loans, the deposit account or accounts created and maintained by the Servicer for deposit of Subsidy Funds and amounts payable under interest subsidy agreements relating to mortgage loans other than the Mortgage Loans.

  • Excluded Deposit Account means (a) any deposit account exclusively used for payroll, payroll taxes, and other employee wage and benefit payments to or for the benefit of Borrower’s employees and identified to Bank by Borrower as such and (b) any Xxxxx Cash Accounts.

  • Payment Account means a segregated non-interest-bearing corporate trust account maintained by the Property Trustee with the Bank in its trust department for the benefit of the Securityholders in which all amounts paid in respect of the Debentures shall be held and from which the Property Trustee shall make payments to the Securityholders in accordance with Sections 401 and 402.

  • Series Accounts means, collectively, the Finance Charge Account, the Principal Account, the Principal Accumulation Account, the Distribution Account, the Reserve Account and the Spread Account.