Security Deposits Account definition

Security Deposits Account means a federally insured clients’ trust account labeled as “Clients’ Trust Account — Security Deposits” or “Client Trust Account SD” on all bank records and checks that is established and maintained by a property manager, acting in a fiduciary capacity on behalf of an owner under a property management agreement, for depositing, holding and disbursing security deposit funds that is subject to the provisions of ORS 696.241.
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Security Deposits Account means a federally insured clients’ trust account labeled as “Clients’ Trust Account – Security Deposits” on all bank records and checks that is established and maintained by a property manager, acting in a fiduciary capacity on behalf of an owner under a property management agreement, for depositing, holding and disbursing security deposit funds. OAR 863-025-0010(16) (2014).
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Security Deposits Account shall have the meaning set forth in Section 5.3. (dd)
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Examples of Security Deposits Account in a sentence

  • Other than the Tenant Security Deposits Account, the identified accounts are controlled by the applicable prepetition lenders.

  • Such Security Deposits Account shall not be commingled with any other rental receipts.

  • Partnership members appear to be more educated and older than the general population, more likely to be white and female (partnership review 2021 and membership survey 2018).12 While it might be desirable to have a wider range of residents on the partnership, we found some significant advantages to partnership members belonging to the so-called civic core of volunteers.

  • All collected funds shall be deposited in the Cash Income Bank Account or Security Deposits Account, as the case may be, no later than the first banking day following their receipt.

  • Owner acknowledges that in the event of any requirement or law in any state or locality where a Property is located that mandates that security deposit accounts be held in a bank branch located in such state or locality, or that mandates that security deposits be held in a manner other than as described above, MODA will arrange to open a Security Deposits Account as so required.

  • Manager shall assume the liability for the Security Deposits Account, including all obligations for return of such security deposits as set forth in the lease agreements with tenants.

  • Funds deposited in the Security Deposits Account shall be withdrawn only in accordance with the applicable Lease and applicable law.


More Definitions of Security Deposits Account

Security Deposits Account shall have the meaning set forth in Section 5.3. “Services” shall have the meaning set forth in the recitals. “Standard of Care” shall have the meaning set forth in Section 2.1. “Term” shall mean a period of one (1) year from the Effective Date, unless the Term is shortened in accordance with the terms hereof. “Termination Effective Date” shall have the meaning set forth in Section 2.3. “Termination Follow-up Date” shall mean the later of (x) fifteen (15) days after the Termination Effective Date and (y) payment by Owner to Manager of the Termination Settlement Amount which shall be paid within thirty (30) days after the Termination Effective Date. “Termination Settlement Amount” means the amount payable to Manager hereunder which includes, without limitation, all Management Fees and any reimbursements payable hereunder to Manager through the Termination Effective Date.
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Security Deposits Account has the meaning set forth in Section 7 hereof.
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Related to Security Deposits Account

  • Security Deposit Account has the meaning given in Section 5.1.

  • Security Deposits means all Tenant security deposits in the form of cash and letters of credit, if any, held by Seller, as landlord (together with any interest which has accrued thereon, but only to the extent such interest has accrued for the account of the Tenant).

  • Security Deposit means the deposit to be held by the owner as security for the due performance of the contractual obligations.

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

  • Reserve Account Property shall have the meaning specified in Section 4.7(a) of the Sale and Servicing Agreement.

  • Surplus Account has the meaning assigned to it in Section 3.02(a).

  • Collections Account has the meaning given to such term in Section 3.01(a) hereof.

  • Reserve Account Initial Deposit means cash or Eligible Investments having a value of at least $____________.

  • Construction Account means the account by that name established in the FGR Subordinated Indebtedness Fund pursuant to the Second Resolution.

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.

  • Reserve Account Deposit Cash or Eligible Investments having a value of at least $2,635,875.59.

  • Collateral Deposit Account shall have the meaning set forth in Section 7.1(a).

  • Revenue Account means the Revenue Account established pursuant to the General Resolution. “Revenues” means the Pledged Receipts and Recoveries of Principal.

  • Special Payments Account means the Eligible Deposit Account created pursuant to Section 2.2 as a sub-account to the Collection Account.

  • Project Account means the account referred to in Section 3.03 of this Agreement;

  • Disbursement Account means, in respect of each Tranche, the bank account set out in the most recent List of Authorised Signatories and Accounts.

  • Policy Payments Account means a separate special purpose trust account that is an Eligible Account, for the benefit of Holders of the Notes and the Credit Enhancer over which the Indenture Trustee has exclusive control and sole right of withdrawal.

  • Billing Account is the checking account from which all Service fees will be automatically debited.

  • Reserve Account Deposit Amount means, with respect to any Distribution Date, the lesser of (x) the excess of (i) the Specified Reserve Balance over (ii) the amount on deposit in the Reserve Account on such Distribution Date, after taking into account the amount of any Reserve Account Withdrawal Amount on such Distribution Date and (y) the amount remaining in the Collection Account after taking into account the distributions therefrom described in clauses (i) through (xviii) of Section 5.7(a).

  • Concentration Account has the meaning provided in Section 6.13(c).

  • Reserve Account means the account designated as such, established and maintained pursuant to Section 5.07.

  • Special Account means the account referred to in Section 2.02 (b) of this Agreement;

  • Imposition Deposits are defined in Section 7(a).

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Mortgagor Accounts As defined in Section 3.07(a) of this Agreement.

  • Reserve Accounts means the Tax and Insurance Reserve Account, the Leasing Reserve Account or any other escrow account established by the Loan Documents.