Examples of Required Account in a sentence
Beginning Account Balance (II(N)) $2,177,772.00 (B) Draw Due to Insufficient Funds (A(M) $0.00 (C) Required Account Balance $2,177,772.00 (D) Account Deposit/(Release) $0.00 (E) Ending Account Balance (E(A-B+D)) $2,177,772.00 USA GROUP SECONDARY MARKET SERVICES, INC.
D e p o s i t o r y - n o n - P h y s i c a l s : D T C N u m b e r 9 0 8 Required: Account Name/Fund Number Information Classification: Limited Access **Unpublished valid BIC in accordance with S.W.I.F.T. guidelines.
The Account Party will provide security over a portfolio of Acceptable Financial Assets in an amount equal to the Required Account Value (as defined in the Pledge Agreement).
RECONCILIATION OF RESERVE ACCOUNT (A) Beginning Account Balance (II(N)) $2,177,772.00 (B) Draw Due to Insufficient Funds (A(M) $0.00 (C) Required Account Balance $2,177,772.00 (D) Account Deposit/(Release) $0.00 (E) Ending Account Balance (E(A-B+D)) $2,177,772.00 USA GROUP SECONDARY MARKET SERVICES, INC.
Pledgor may substitute any financial asset for any financial asset credited to the Account provided that (i) the financial assets credited to the Account immediately after such substitution meet the Required Account Value as provided in this Section 3 and (ii) the financial asset received in such substitution is not subject to any lien, security interest, charge or claim in regard to settlement or otherwise.
The Required Account Value incorporates a margin on the Acceptable Financial Assets as follows: Less than 10 years to Maturity: A) Required Percentage shall be 0% B) Required Percentage shall be 8.5%.
All funds on deposit in each Required Account shall be additional cash collateral for the Loan, and may be applied, following the acceleration of the Obligations in accordance to Section 8.2(b), by Bank against the outstanding principal balance of the Note.
Reconciliations shall be prepared on a monthly basis for each Required Account.
The parties acknowledge and agree that each Required Account constitutes a “deposit account” within the meaning of Section 4-9-102 of the UCC.
Any financial asset that cannot be valued as provided herein and any financial asset subject to Bank's lien specified in Section 4 shall have no value in determining if the financial assets to remain in the Account are sufficient for purposes of meeting the Required Account Value.