Property Account definition

Property Account has the meaning set forth in Section 2.8(c).

Property Account has the meaning specified in Section 3.8(c).

Property Account shall have the meaning set forth in Section 3.1(a) hereof.

Examples of Property Account in a sentence

• The sole signatories for such accounts (including the Property Account) shall be designated by the Institutional Trustee.

• Except as provided in Section 2.8 with respect to the Debentures and the Property Account or as otherwise provided in this Declaration, legal title to all assets of the Trust shall be vested in the Trust.

• Distributions on the Securities must be paid on the dates payable (after giving effect to any Extension Period) to the extent that the Trust has funds available for the payment of such distributions in the Property Account of the Trust.

• The Trust shall maintain in the United States, as defined for purposes of Treasury Regulations section 301.7701-7, one or more bank accounts in the name and for the sole benefit of the Trust; provided, however, that all payments of funds in respect of the Debentures held by the Institutional Trustee shall be made directly to the Property Account and no other funds of the Trust shall be deposited in the Property Account.

• Except as provided in Section 2.6(g) and Section 2.8 with respect to the Debentures and the Property Account or as otherwise provided in this Declaration, legal title to all assets of the Trust shall be vested in the Trust.

More Definitions of Property Account

Property Account has the meaning set forth in Section 3.8(c) of this Declaration.

Property Account has the meaning set forth in Section 3.08(c) of this Trust Agreement.

Property Account means a Rent Receipts Account, Security Deposit Account or Property Operating Account.

Property Account has the meaning set forth in Section 2.04(a) hereof;

Property Account means a segregated non-interest bearing trust account maintained with a banking institution, the rating on whose long-term unsecured indebtedness is at least equal to the rating assigned to the Preferred Securities by a "nationally recognized statistical rating organization" within the meaning of Rule 436(g)(2) under the Securities Act.

Property Account means a segregated trust account with a “financial institution” as that term is defined in the Bank Act (Canada);

Property Account means a segregated trust account with a Qualified Institution.