Private Owner Pledged Account definition

Private Owner Pledged Account means a segregated trust or custodial account of the Private Owner established and maintained under the Custodial and Paying Agency Agreement (as the “Private Owner Pledged Account” defined therein) at a branch of the Paying Agent for the sole purpose of holding the Qualifying Cash Collateral, which account is and remains pledged to (and under the control of) the Initial Member (for itself and for the benefit of the Company and the Indemnified Parties) as collateral for the Private Owner Obligations.
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Examples of Private Owner Pledged Account in a sentence

  • The Company shall be responsible for payment to the successor Custodian and Paying Agent of all fees and expenses of the successor Custodian and Paying Agent and any fees and expenses for transferring Custodial Documents and funds deposited in the Accounts to the successor Custodian and Paying Agent except with respect to the Private Owner Pledged Account, the fees and expenses with respect to which are to be paid by the Private Owner.

  • The Private Owner shall pay any fees and expenses in connection with the Private Owner Pledged Account.

  • In no event shall the Private Owner have any right or authority to withdraw any funds from the Private Owner Pledged Account except as expressly provided in Section 3.9(b) below.

  • Under no circumstances will the Initial Member be deemed or construed to have waived its right to draw upon any Qualifying Letter of Credit, to proceed against the Private Owner Pledged Account, to foreclose upon the Private Owner Interest or to exercise any of its other rights or remedies unless such waiver is in writing and executed by a duly authorized representative of the Initial Member.

  • The Private Owner Pledged Account (and all funds and financial assets therein) will be subject to the security interest granted herein for the benefit of the Initial Member pursuant to the terms of this Agreement, the Custodial and Paying Agency Agreement and the Private Owner Pledged Account Control Agreement.

  • Subject to the requirements of the LLC Operating Agreement as they relate to the Company, this Agreement may be amended from time to time by written agreement signed by the Company, the Purchase Money Notes Guarantor, the Collateral Agent and the Custodian and Paying Agent or, if such written agreement relates to the Private Owner Pledged Account or the Qualifying Cash Collateral on deposit in such Account, the Initial Member, the Private Owner and the Paying Agent.

  • The Paying Agent shall permit the Company, the Purchase Money Notes Guarantor and the Collateral Agent to examine such accounts, books and records that relate to any Company Account, and shall permit the Initial Member and the Private Owner to examine such accounts, books and records that relate to the Private Owner Pledged Account, provided that any such examination shall occur upon reasonable prior notice and during normal business hours.

  • The Private Owner Pledged Account (and all funds therein) shall be subject to the security interest granted for the benefit of the Initial Member pursuant to the LLC Operating Agreement, this Agreement and the Private Owner Account Control Agreement.

  • Contemporaneously with the execution of this Agreement and the LLC Operating Agreement, the Private Owner shall, pursuant to the applicable provisions in the LLC Operating Agreement and the Custodial and Paying Agency Agreement, establish the Private Owner Pledged Account.

  • The Paying Agent shall invest the amounts on deposit in the Private Owner Pledged Account in Permitted Investments in accordance with investment directions from the Private Owner but with maturities that allow for their transfer in accordance with this Section 3.9.

Related to Private Owner Pledged Account

  • Pledged Account has the meaning set forth in the Deposit and Security Agreement.

  • Pledged Funds means all of the Series Pledged Funds.

  • Pledged Assets With respect to any Mortgage Loan, all money, securities, security entitlements, accounts, general intangibles, payment intangibles, instruments, documents, deposit accounts, certificates of deposit, commodities contracts and other investment property and other property of whatever kind or description pledged by Combined Collateral LLC as security in respect of any Realized Losses in connection with such Mortgage Loan up to the Pledged Amount for such Mortgage Loan, and any related collateral, or such other collateral as may be set forth in the Series Supplement.

  • Pledged Bonds means any Bonds which shall, at the time of determination thereof, be pledged to the Credit Provider pursuant to or in connection with the Credit Facility.

  • Fundserv Notes means Notes purchased through Fundserv.

  • Collateral Security means security, other than a security interest in a motor vehicle that is the subject of an installment sale contract, that is given to secure performance of an obligation of the buyer, or of any surety or guarantor for the buyer, under an installment sale contract. The term includes the undertakings of any surety or guarantor for the buyer and any interest in, encumbrance on, or pledge of real or personal property other than the motor vehicle that is the subject of the installment sale contract.

  • Special purpose equipment means equipment which is used only for research, medical, scientific, or other technical activities. Examples of special purpose equipment include microscopes, x-ray machines, surgical instruments, and spectrometers.

  • Trust Property means as of any particular time any and all property, real or personal, tangible or intangible, which at such time is owned or held by or for the account of the Trust or the Trustees in such capacity.

  • Trust Interest means an account owner's interest in the trust created by a participating trust