Temporary Account definition

Temporary Account means the Account opened for the Customer by the Bank for a certain period of time, intended for the accumulation of funds for the formation/increase of the share capital of the Legal Person (Customer) or for the accumulation of funds obtained in the course of placement of securities.
View Source
Temporary Account has the meaning given in Section 2.1.
View Source
Temporary Account means account number 2320839090 of Mountasia maintained with NationsBank, National Association (South), whose office is located at ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇.▇., ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇.
View Source

Examples of Temporary Account in a sentence

  • Temporary Account Agreement – If this option is selected, this is a temporary account agreement.

  • No funds of any other Person shall be co-mingled with the funds held in trust for the Partnership in the Temporary Account.

  • Once the Partnership has established a bank account in its own name, any funds remaining in the Temporary Account shall be promptly transferred to the Partnership's account.

  • Prior to the occurrence of a Designated Event of Default, Borrower shall have unrestricted access to the funds in such Temporary Account or Blocked Account, as applicable.

  • In addition, the Temporary Account shall be established and maintained at an institution which agrees in writing that for so long as the Notes are Outstanding it will comply with entitlement orders (as defined in Article 8 of the UCC) originated by the Indenture Trustee without further consent of the Issuer.

  • During the period from and after the Closing Date up to the date on which the foregoing conditions are satisfied, Borrower shall telecopy to Foothill an account activity statement with respect to all Collections received in the Temporary Account as often as Collections are received in the Temporary Account, but in any event no less frequently than once per week.

  • From and after the Closing Date, Foothill shall be entitled to charge Borrower for 3 Business Days of `clearance' or `float' at the rate set forth in Section 2.5(a) or Section 2.5(b), as applicable, on all Collections that are received by Foothill, or, without duplication, all Collections that are deposited in any Blocked Account, or, without duplication, all Collections that are deposited in the Temporary Account.

  • Agreement – Section I and Section II of the Agreement for Opening a Temporary Account During the Establishment of a Legal Entity between the Bank and the Client.

  • All interest and other income (net of losses and investment expenses) on funds on deposit in the Temporary Account shall be deposited therein.

  • From and after the occurrence of a Designated Event of Default, all amounts received in the Temporary Account or Blocked Account, as applicable, automatically shall be wire transferred each Business Day into an account (the "Foothill Account") maintained by Foothill at a depositary selected by Foothill.


More Definitions of Temporary Account

Temporary Account means the account established and maintained pursuant to Section 4.10(a) of the Sale and Servicing Agreement.
View Source
Temporary Account is defined in Section 3.2(a).
View Source

Related to Temporary Account

  • Primary Account or “Settlement Account” shall mean, in case of multiple Accounts linked to the ATM/Debit Card, the Account that has been designated as being the main/first Account of operation i.e. the Account from which purchase transactions, charges and fees related to the ATM/Debit Card are debited.

  • 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.

  • Discretionary Account means a Personal Account in which you have completely turned over decision-making authority to a professional money manager (who is not a Family Member or not otherwise covered by this Code) and you have no direct or indirect influence or control over the account. (Such Discretionary Accounts are often referred to as “professionally managed,” “controlled” or “managed” accounts.)

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

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