Examples of Special Trust Account in a sentence

Upon delivery of the Receiver’s Deed to the Buyer all funds on deposit with the Escrow Agent or in the Special Trust Account shall be delivered to the Seller.
Buyer may not cancel the transaction and any attempt thereto shall cause all funds deposited to the Special Trust Account to immediately become the property of the Receiver.
The funds deposited to the Special Trust Account shall be credited at Closing towards the Purchase Price to be paid to Seller by Buyer for the Property under the terms of this Agreement.
No payment returned to a Secured Party for which such Secured Party has been obligated to make a deposit into the Special Trust Account shall thereafter ever be characterized as a Senior Preferential Payment.
If any such Letter of Credit shall expire without having been drawn upon in full, the amounts held in the Special Trust Account with respect to the undrawn portion of such Letter of Credit, together with interest accrued thereon, shall be applied by Agent in accordance with the provisions of subsections (i) and (ii) above.

More Definitions of Special Trust Account

Special Trust Account an account at an acceptable financial institution established by the qualifying broker for the purpose of holding money of a named party to a transaction. This account may be interest bearing.

Special Trust Account shall have the meaning assigned thereto in Section 2.2.

Special Trust Account means an interest bearing restricted trust account maintained by the Trustee for the purpose of receiving and holding Senior Preferential Payments.

Special Trust Account shall have the meaning assigned thereto in Section 2.2. "Specified Amount" shall mean, as to any Creditor, the aggregate amount of the Subject Obligations owed to such Creditor. "Subject Obligations" shall mean (i) all principal of, premium, if any, and interest on, the Notes and the Loans and all other obligations of any of the Obligors under or in respect of the Notes and the Loans and under the Note Purchase Agreements and the Loan Agreement and any other obligations of any of the Obligors to the Banks or the Noteholders which are guaranteed by the Bank Guaranty or the Noteholder Guaranty and (ii) all principal of, premium, if any, and interest on, the obligations of the Subsidiary Guarantors under or in respect of the agreements and documents referred to in Section 3.4 hereof pursuant to which other Persons have become creditors of the Subsidiary Guarantors and "Creditors" hereunder as contemplated in Section 3.4 hereof; provided that any amount of such Subject Obligations which is not allowed as a claim enforceable against an Obligor in a Bankruptcy Proceeding under applicable law shall be excluded from the computation of "Subject Obligations" hereunder. "Subsidiary" shall have the meaning set forth in the Note Purchase Agreements as in effect on the date hereof. "Subsidiary Agreements" shall have the meaning assigned thereto in the Recitals hereof. "Subsidiary Borrowers" shall have the meaning set forth in the Recitals hereof.

Special Trust Account means the separate trust account established under Article 64(a);

Special Trust Account means that certain interest-bearing trust account maintained by or on behalf of the Collateral Agent for the purpose of receiving and holding Preferential Payments.