Restricted Securities Account definition

Restricted Securities Account means a Securities Account used to hold Book- Entry Securities as collateral for a secured party in accordance with section 4.5 of this operating circular.
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Restricted Securities Account means an account held by a Federal Reserve Bank and pledged to the Board in which Collateral may be held.
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Restricted Securities Account means a Restricted Securities Account as defined in Operating Circular 7 and maintained by a Custodial Reserve Bank to recognize a security interest in a Pledged Security granted by a Pledgor in favor of a Government Pledgee. 2.0 ROLE OF RESERVE BANKS; NATURE OF AGREEMENT2.1. A Custodial Reserve Bank is a Reserve Bank that maintains a Restricted Securities Account to recognize a security interest in a Pledged Security granted by a Pledgor in favor of a Government Pledgee. 2.2. This appendix constitutes an agreement by the Custodial Reserve Bank to recognize a security interest granted by a Pledgor in favor of a Government Pledgee with respect to Pledged Securities in a Restricted Securities Account on the books of the Custodial Reserve Bank. A Government Pledgee has control ofa Pledged Security in a Restricted Securities Account, and the security interest granted to the Government Pledgee has priority over any other interest in the Pledged Security other than a security interest in favor of the United States. 2.3. Reserve Banks other than the Custodial Reserve Bank may act as agents of the Custodial Reserve Bank in connection with the services provided by the Custodial Reserve Bank under this appendix. Despite this, this agreement is solely between the Custodial Reserve Bank, the Pledgor, and the Government Pledgee.
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Examples of Restricted Securities Account in a sentence

  • The Collateral must be held by the Federal Reserve Bank in a Restricted Securities Account pledged to the Board according to Section 4.3 of the Operating Circular and Appendix C.

  • Pursuant to IC 5-13-13-7(e), an eligible Depository may, at any time, elect to pledge and deliver to the Board, which, at the discretion of the Board, may be to a Restricted Securities Account at the Depository's Federal Reserve Bank, Eligible Collateral in an amount equal to One Hundred Percent (100%) of its Public Funds on Deposit.

  • The Reserve Banks may also transfer any Pledged Securities in the Restricted Securities Account being closed to the Restricted Securities Account at the new Custodial Reserve Bank, which holds such Pledged Securities pursuant to the terms of this appendix.

  • During any Suspension Period, (i) Pledgor's right to direct such investments under this Section 4(b) shall be suspended, and Securities Intermediary shall not accept Entitlement Orders with respect to the Restricted Securities Account from any person other than Secured Party; and (ii) any credit balances shall be invested and reinvested only as provided in Section 4(c).

  • For each instance of withdrawal from the Restricted Securities Account, the Company shall deliver to Investor written notice thereof (together with a withdrawal statement with reasonable details relating thereto) immediately, and in any event within the same date as the date of such withdrawal.

  • In such situations, the Reserve Banks may close the Restricted Securities Account of the Pledgor at that Custodial Reserve Bank and may establish a new Restricted Securities Account for the Pledgor (or its successor in interest) at another Reserve Bank, which thereupon becomes the Custodial Reserve Bank for purposes of this appendix.

  • Such liquidation shall not terminate, reduce or excuse Guarantor’s obligation to deposit additional amounts into the Restricted Securities Account if the balance therein after such liquidation remains below the Minimum Balance; provided, that after such a liquidation Guarantor shall only be permitted to deposit Cash into the Restricted Securities Account.

  • If Guarantor fails to deposit such additional cash or Acceptable Securities within such two (2) Business Day period, Agent shall be entitled to liquidate all Acceptable Securities then on deposit in the Restricted Securities Account and convert such Acceptable Securities into Cash without notice to, or the consent of, Guarantor or any other Person.

  • Except during any Suspension Period, Securities Intermediary shall, in accordance with Pledgor's written Entitlement Orders given to Securities Intermediary from time to time, sell or redeem Investments, and apply amounts transferred to or held for the credit of the respective Restricted Securities Account to make investments for credit to the Restricted Securities Account, in Securities Intermediary's name and as custodian under this Agreement, in Permitted Investments.

  • Provided that no Event of Default shall then exist, any amounts remaining on deposit in the Restricted Securities Account upon Stabilized Occupancy of the Mortgaged Property (or on the date of any earlier prepayment in full of the Loan in accordance with Section 2.4 hereof) shall be returned to the Guarantor or otherwise disbursed in accordance with Guarantor’s written directions.


More Definitions of Restricted Securities Account

Restricted Securities Account means the Restricted Securities Account established and maintained with Securities Intermediary pursuant to Section 2 known as the Construction Note Disbursement Account.
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Restricted Securities Account means that certain account(s) identified in that certain Securities Account Control Agreement effective as of March 4, 2011, among Borrower, Xxxxx Fargo Securities, LLC and Xxxxx Fargo Capital Finance LLC.”
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Restricted Securities Account means that certain restricted account established with the Agent by the Guarantor pursuant to the Completion Guaranty and the Interest and Operating Costs Guaranty.
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Restricted Securities Account shall have the meaning set forth in Section 11.26 hereof.
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Related to Restricted Securities Account

  • 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.

  • Securities Account is any “securities account” as defined in the Code with such additions to such term as may hereafter be made.

  • 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).

  • Unrestricted Securities means one or more Securities that do not and are not required to bear the Private Placement Legend in the form set forth in Exhibit A hereto, including, without limitation, the Exchange Securities and any Securities registered under the Securities Act pursuant to and in accordance with the Registration Rights Agreement.

  • Restricted Security has the meaning assigned to such term in Rule 144(a)(3) under the Securities Act; provided, however, that the Trustee shall be entitled to receive, at its request, and conclusively rely on an Opinion of Counsel with respect to whether any Note constitutes a Restricted Security.

  • Unrestricted Certificated Security means a Certificated Security that is not a Restricted Security.

  • Approved Securities Intermediary means a Securities Intermediary or Commodity Intermediary selected or approved by the Administrative Agent and with respect to which a Grantor has delivered to the Administrative Agent an executed Control Account Agreement.

  • Restricted Securities Legend has the meaning set forth in Section 8.2(b).

  • Eligible Deposit Account means either (a) a segregated account with an Eligible Institution or (b) a segregated 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 from each Rating Agency in one of its generic rating categories that signifies investment grade.

  • Transfer Restricted Securities means Securities that bear or are required to bear the legend set forth in Section 2.3(b) hereto.

  • Uncertificated Securities means securities as defined in the Securities Services Act which are by virtue of the Companies Act transferable without a written instrument and are not evidenced by a certificate;

  • Commodities Accounts (i) shall mean all “commodity accounts” as defined in Article 9 of the UCC and (ii) shall include, without limitation, all of the accounts listed on Schedule 4.4 under the heading “Commodities Accounts” (as such schedule may be amended or supplemented from time to time).

  • Securities Account Control Agreement shall have the meaning ascribed thereto in the Sale and Servicing Agreement.

  • 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.

  • Securities Entitlement means the rights and property interest of an Entitlement Holder with respect to a Financial Asset as set forth in Part 5 of Article 8 of the Uniform Commercial Code of the State of New York, as the same may be amended from time to time.

  • Deposit Account is any “deposit account” as defined in the Code with such additions to such term as may hereafter be made.

  • Designated Deposit Account is Borrower’s deposit account, account number , maintained with Bank.

  • Transfer-Restricted Security means any Security that constitutes a “restricted security” (as defined in Rule 144); provided, however, that such Security will cease to be a Transfer-Restricted Security upon the earliest to occur of the following events:

  • Uncertificated Securities Regulations means the Uncertificated Securities Regulations 2001;

  • Permitted Securities means any of the following:

  • 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.

  • Certificated Securities means Securities in the form of physical, certificated Securities in registered form.

  • Unrestricted Securities Certificate means a certificate substantially in the form set forth in Annex C.

  • Restricted Securities Certificate means a certificate substantially in the form set forth in Annex B.

  • Uncertificated Security shall have the meaning given such term in Section 8-102(a)(18) of the UCC.

  • Excluded Deposit Accounts means, collectively, (i) payroll and payroll taxes accounts, workers’ compensation accounts and other employee wage and benefit payment accounts and xxxxx cash accounts, (ii) trust accounts and (iii) deposit accounts other than Collection Accounts and Collateral Deposit Accounts (as each such term is defined in the Revolving Credit Agreement), so long as the aggregate amount on deposit in all such deposit accounts does not exceed $2,500,000 in the aggregate at any time.