Special Custody Account definition

Special Custody Account shall have the meaning assigned to that term in Section 2 hereof.
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Special Custody Account means the Custody Account, as defined in the Special Custody and Pledge Agreement between BNPP PB, Customer and The Bank of New York Mellon.
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Special Custody Account has the meaning assigned to that term in Section 2(a). The following terms have the respective meanings assigned in the NYUCC: “Account,” “Certificated Security,” “Control,” “Deliver,” “Delivery,” “Documents,” “Entitlement order,” “Entitlement holder,” “Financial Asset,” “General Intangibles,” “Investment Property,” “Money,” “Proceeds,” “Securities Account,” “Securities Intermediary,” “Securities Intermediary’s Jurisdiction,” “Security,” “Security Entitlement,” and “Uncertificated Security”.
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Examples of Special Custody Account in a sentence

  • Operations with Special custody account(/s) with respect to the Client’s Securities shall be reflected by the corresponding records in the Client’s account with the Company, except for operations that do not change the balance of the Client’s account (such as transfer of Securities from one Special custody account to another Special custody account).

  • Unless otherwise agreed upon by the Parties, the Client shall beforehand provide for available funds and/or Securities in the Client’s account (in the Special bank account and/or Special custody account, correspondingly) appropriate and sufficient for settlement of every Transaction to be entered by the Company upon relevant Client’s Instruction.

  • To return the Client's Assets from corresponding Special bank account or Special custody account according to the clause referring to cancellation of the AGREEMENT.

  • Keeping Client’s Securities in the Special custody account may be carried out on the fungible basis and thus Client’s Securities may be commingled with Securities of other clients of the Company.


More Definitions of Special Custody Account

Special Custody Account means safe custody account (/accounts) opened and maintained with any Authorized organization in the name of the Company and designated for keeping Client’s Securities.
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Special Custody Account and collectively, the “Accounts”) and shall hold in each Special Custody Account (i) all Eligible Assets received by Custodian from time to time for deposit into such Special Custody Account (as Advised by Broker or Instructed by Customer) and (ii) other than as contemplated by Section 2(b), all other Collateral related to any such Eligible Assets.
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Special Custody Account and shall hold in each Special Custody Account (i) all Eligible Assets received by Custodian from time to time for deposit into such Special Custody Account (as Advised by Broker or Instructed by Customer) and (ii) any property paid, distributed or substituted in respect of Collateral or realized on the sale or other disposition of Collateral, subject in the case of cash to Section 2(b). Notwithstanding the foregoing, the Custodian shall not be required to receive and hold in the Special Custody Account any assets or property that are not acceptable to it, and the parties hereby agree that any assets or property of the type described in clause (ii) received by the Custodian that is not acceptable to it shall be delivered by Custodian to Broker. Custodian may hold Securities credited to each Special Custody Account in bearer, nominee, book entry, Securities Entitlement or other form and through or with a depository or clearing corporation, with or without indicating that such Securities are held hereunder; provided, however, that all Collateral shall be in a form that permits transfer without additional authorization or consent of Customer. All Collateral will be held for Broker by Custodian as Securities Intermediary of Broker and shall be held by Custodian as agent of and Custodian for Broker and other than as specifically contemplated herein, Broker shall be the only Entitlement Holder thereof. The Collateral shall at all times remain the property of Customer subject only to the extent of the interest and rights of Broker therein, as pledgee and secured party thereof, and as Entitlement Holder thereof, in each case as described herein. Any Rights that Customer may have in the Collateral shall be subject in all respects to the terms of this Agreement including, without limitation, the Security Interest. In dealing with the Collateral the Custodian shall employ the same standard of care that it is required to employ when dealing with the (A) custody accounts maintained by it pursuant to the Custody Agreement (“Customer Custody Accounts”) and (B) assets credited to such Customer Custody Accounts (collectively with such Customer Custody Accounts, “Customer Custody Assets” ) and all other undertakings made by the Custodian with respect to the Customer Custody Assets under the Custody Agreement shall, to the extent not inconsistent with the terms hereof and the structure contemplated hereby, apply mutatis mutandis to the Collateral held hereunder. It is expres...
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Special Custody Account shall have the meaning assigned to that tern in Section 2 hereof.
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Special Custody Account shall have the meaning assigned to that term in Section 2 hereof. 2. SPECIAL CUSTODY ACCOUNT (a) Opening Custody Account. Bank shall open an account on its books entitled "Special Custody Account for Bear, Stearns Securities Corp. as Pledgee of Olstein Finaxxxxx Alert Fund" ("Special Custody Xxxxxxt") and shall hold therein all securities and similar property as shall be received and accepted by it therein pursuant to this Agreement. Customer agrees to instruct Bank in Instructions from Customer as to cash and specific securities which Bank is to identify on its books and records as pledged to Broker as Collateral in the Special Custody Account. Customer agrees that the value of such cash and securities shall be at least equal in value to what Broker shall initially and from time to time advise Customer in an Advice from Broker as being necessary to constitute Adequate Margin. Such Collateral (i) will be held by Bank for Broker as agent of Broker, (ii) may be released only in accordance with the terms of this Agreement, and (iii) except as required to be released hereunder to Broker, shall not be made available to Broker or any other person claiming through Broker, including the creditors of the Broker. In the event The Olstein Funds wish to open another Special Custody Xxxxxxx for another series of The Fund pursuant to this Agreement, the title of the said account shall be appended hereto as a schedule to this Agreement. (b)
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Special Custody Account means as set forth in paragraph 3 hereof.
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Related to Special Custody Account

  • Custody Account means each Securities custody account on Bank's records to which Financial Assets are or may be credited pursuant hereto.

  • Fund Custody Account means any of the accounts in the name of the Trust, which is provided for in Section 3.2 below.

  • Disbursement Account means any Deposit Account maintained by Borrower with a financial institution for the purpose of receiving and disbursing the proceeds of Loans made pursuant hereto.

  • Disbursement Accounts has the meaning ascribed to it in Annex C.

  • Servicer Custodial Account The separate Eligible Account or Accounts created and maintained by the Servicer pursuant to Section 3.08(b).

  • Custodial Account The separate account or accounts created and maintained pursuant to Section 4.04.

  • Custodial Accounts Each Custodial Account (other than an Escrow Account) established and maintained by a Servicer pursuant to a Servicing Agreement with respect to the Mortgage Loans.

  • Agent Account means such account of the Administrative Agent in New York, New York as is designated in writing from time to time by the Administrative Agent to the Borrower and the Lenders for such purpose.

  • Agency Account means any deposit account opened on the books of a Subcustodian or other banking institution in accordance with Section 7.1.

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

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • Whole Loan Custodial Account means the “Whole Loan Custodial Account” established for the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement.

  • L/C Cash Deposit Account means an interest bearing cash deposit account to be established and maintained by the Agent, over which the Agent shall have sole dominion and control, upon terms as may be satisfactory to the Agent.

  • 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.

  • Concentration Accounts has the meaning ascribed to it in Annex C.

  • Depository Account includes any commercial, checking, savings, time, or thrift account, or an account that is evidenced by a certificate of deposit, thrift certificate, investment certificate, certificate of indebtedness, or other similar instrument maintained by a Financial Institution in the ordinary course of a banking or similar business. A Depository Account also includes an amount held by an insurance company pursuant to a guaranteed investment contract or similar agreement to pay or credit interest thereon.

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

  • Agency Account(s means any deposit account opened on the books of a Subcustodian or other banking institution in accordance with Section 7.1 hereof.

  • Liquidity Account has the meaning set forth in Section 6.22(a).

  • Depository Accounts shall have the meaning set forth in Section 4.15(h) hereof.

  • Collection Account Control Agreement means that certain Collection Account Control Agreement, to be entered into by and among the Borrower, the Lender and Bank, with respect to the Collection Account, in form and substance acceptable to the Lender and the Borrower, as the same may be amended, modified or supplemented from time to time.

  • Collection Account Agreement means an agreement substantially in the form of Exhibit VI among Originator, Seller, the Agent and a Collection Bank.

  • Online Account means the Bank account from which you will be conducting transactions using a Service;

  • Servicing Account The account or accounts created and maintained pursuant to Section 3.09.