Security Trust Account definition

Security Trust Account means an interest-bearing, Dollar denominated trust account opened at a Security Trust Account Trustee (as hereinafter defined), on terms and conditions satisfactory to the Association, by ATI in the name of the Borrower, into which all or a part only of the proceeds of the Credit withdrawn by ATI in accordance with the terms and conditions of this Agreement and the Participation Agreement shall be deposited, and thereafter to be managed in accordance with the terms and conditions of the relevant Security Trust Agreement;
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Security Trust Account means the trust account established pursuant to this Agreement.
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Security Trust Account means an interest-bearing, Dollar denominated trust account opened at a Security Trust Account Trustee, on terms and conditions satisfactory to the Association, by ATI in the name of the Borrower, into which all or a part only of the proceeds of the Credit withdrawn by ATI in accordance with the terms and conditions approved by the Association and the Participation Agreement shall be deposited and thereafter to be managed in accordance with the terms and conditions of the relevant Security Trust Agreement;
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Examples of Security Trust Account in a sentence

  • The Operating Bank also agrees to cooperate with any replacement Operating Bank as to the transfer of any property in, or records relating to, any Security Trust Account maintained by it.

  • In addition, the Company shall be entitled to withdraw a pro-rata portion of the remaining balance in the SLDI Security Trust Account attributable to the Covered Insurance Contracts hereunder less any amounts owed to the Reinsurer under this Agreement as of the Recapture Date.

  • From and after the date hereof, the Reinsurer will not grant any further security interest in, or lien on, the assets in the SLDI Reserve Trust Account or the SLDI Security Trust Account.

  • From and after the date hereof, the Reinsurer will not authorize the filing of any other financing statement with respect to any asset in the SLDI Reserve Trust Account or the SLDI Security Trust Account, nor authorize the granting of "control" (as defined in the UCC) over any of such asset to any Person other than the Company.

  • The Grantor shall establish and the Trustee shall maintain the Security Trust Account as a securities account at The Bank of New York as Securities Intermediary with regard to the Security Trust Account.

  • The Trustee shall be the entitlement holder with respect to the Security Trust Account.

  • Upon the reasonable written request of the Grantor or the Beneficiary, the Trustee shall promptly permit the Grantor or the Beneficiary, their respective agents, employees or independent auditors to examine, audit, excerpt, transcribe and copy, at their own expense, during the Trustee's normal business hours any books, documents, papers and records relating to the Security Trust Account or the Assets.

  • The Trustee shall have no responsibility whatsoever to determine that any Assets in the Security Trust Account are or continue to be Eligible Securities.

  • From and after the date hereof, the Reinsurer will not authorize the filing of any other financing statement with respect to any asset in the SLD Reserve Trust Account or the SLD Security Trust Account, nor authorize the granting of "control" (as defined in the UCC) over any of such asset to any Person other than the Company.

  • The Security Trust Account shall be subject to withdrawal by the Beneficiary and the Grantor as provided herein.


More Definitions of Security Trust Account

Security Trust Account means the bank account designated as the "Compte Fiduciaire" in the Security Trust Agreement.
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Security Trust Account means a trust account established with a Trustee for the purpose of securing the Reinsurer's obligations to the Company in accordance with Section 9.4 hereof.
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