Qualified Trust Account definition

Qualified Trust Account means an account maintained at a Qualified Trustee pursuant to a Qualified Trust Arrangement.
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Qualified Trust Account means either (a) a segregated non-interest bearing account (including a securities account) with a Qualified Institution or (b) a segregated non-interest bearing trust account with the corporate trust department of a depository institution organized under the laws of the United States of America or any one of the States thereof or the District of Columbia (or any domestic branch of a foreign bank), having corporate trust powers and acting as trustee for funds deposited in such account, so long as any of the securities of such depository institution shall have a credit rating (in the case of SP Global Ratings, an issuer credit rating or resolution counterparty rating) from each Note Rating Agency that satisfies the publicly published, controlling and applicable ratings criteria established by each Note Rating Agency; provided that in either case described in the preceding clause (a) or (b), the Indenture Trustee has “control” (as defined in §§ 9-104 or 9-106 of the UCC, as applicable) pursuant to Section 4.02(c) or a control agreement including provisions substantially similar to such section or as otherwise agreed to by the Indenture Trustee.
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Qualified Trust Account means an account maintained at a Qualified Trustee pursuant to a Qualified Trust Arrangement. “Real Estate” means any real property owned, leased, subleased or otherwise operated or occupied by any specified Person.
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Examples of Qualified Trust Account in a sentence

  • The Loan Parties shall (i) cause all Collections received by them each day to be deposited in a Collection Account or a Concentration Account or, with respect to any STL Related Accounts, a Qualified Trust Account, within two (2) Business Days following receipt and (ii) direct all Account Debtors to remit all payments either (A) directly to Collection Accounts or any associated lockboxes or (B) in the case of STL Related Accounts, directly to a Qualified Trust Account or any associated lockbox.

Related to Qualified Trust Account

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

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

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

  • 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.

  • Individual retirement account means a trust, custodial arrangement, or annuity under Section 408(a) or (b), Internal Revenue Code of 1954 (26 U.S.C. Section 408 (1986)).

  • Interest Collection Subaccount The meaning specified in Section 10.2(a).

  • Retirement Account means any retirement or pension fund or account, listed in Iowa Code section 627.6(8)“f” as exempt from execution, regardless of the amount of contribution, the interest generated, or the total amount in the fund or account.

  • Distribution Account means the Bank Account (which may be a current, saving or deposit account) maintained by the Trustee with a Bank as directed by the Management Company in which the amount required for distribution of income to the Unit Holder(s) shall be transferred. Interest, income or profit, if any, including those accruing on unclaimed dividends, in this account shall be transferred to the main account of the Fund from time to time, as part of the Trust Property for the benefit of the Unit Holder(s).

  • Accumulation Account The account designated as such, established and maintained pursuant to Section 5.01(a)(iii) of the Trust Sale and Servicing Agreement.

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