Special Deposit Account definition

Special Deposit Account. An account which the Owner and the Servicer agree shall be a special deposit account for the benefit of the Owner under applicable law.
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Special Deposit Account. Any demand deposit account established by the Servicer pursuant to an agreement with the related Qualified Depository that monies deposited in the account remain the property of the depositor thereof and are to be used specifically for the purposes set forth in this Agreement.
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Special Deposit Account means a special deposit account established under section 8 of the Public Finance and Audit Act 1987;
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Examples of Special Deposit Account in a sentence

  • The Servicer and the Owner intend that the Custodial Account be a Special Deposit Account.

  • The Escrow Account shall be a Special Deposit Account as such term is defined in the Servicing Agreement.

  • The Custodial Account shall be a Special Deposit Account as such term is defined in the Servicing Agreement.

  • Each Escrow Account shall be established with a Qualified Depository as a Special Deposit Account.

  • The Escrow Account shall be established with a Qualified Depository as a Special Deposit Account, in a manner which shall provide maximum available insurance by the FDIC and as otherwise acceptable to the Rating Agencies.


More Definitions of Special Deposit Account

Special Deposit Account means the account referred to in Section 3.02 (a) of this Agreement.
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Special Deposit Account means an account maintained with the Bank in which funds are deposited pursuant to Section 2.1(e) or Section 10.2(c).
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Special Deposit Account means an account established under section 8;
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Special Deposit Account means a special deposit account established under section 8 of thePublic Finance and Audit Act 1987; "spouse" includes a putative spouse;
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Special Deposit Account has the meaning specified in Section 6.2(a).
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Special Deposit Account means a deposit account: (a) established by Landlord at an office of a federally insured depository institution situated in Jacksonville, Florida; (b) segregated from Landlord’s other deposit accounts and/or funds; (c) established as a fiduciary account for the benefit of Tenant and identifying Tenant as the beneficial owner thereof; (d) into which shall be deposited funds consisting solely of any security or advance rental deposit made by Tenant hereunder and any additional rent or advance rent that Tenant may pay hereunder for more than the current month to Landlord or any successor thereto; (e) the funds of which shall be accessible by Tenant in the event Landlord’s Mortgagee shall succeed to Landlord’s interest hereunder; (f) with respect to which Landlord shall not withdraw any portion of the funds therein unless such portion represents rents, security or rental deposits that are currently due and payable hereunder.
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Special Deposit Account means a temporary account for the deposit of trust funds that cannot be credited immediately to the rightful account holders;
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