Trust and Retention Account definition

Trust and Retention Account shall have the meaning ascribed to such term in the Trust and Retention Account Agreement.
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Trust and Retention Account means the account (including Sub-Accounts) specified in the Trust and Retention Account Agreement.
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Trust and Retention Account means the account established and maintained in accordance with the Trust and Retention Account Agreement.
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Examples of Trust and Retention Account in a sentence

  • The Trust Bank shall, at the request of the Lender made on or after the payment by the Borrower of all outstanding amounts under the Loan Agreement, Trust and Retention Account Agreement, close the Designated Account and pay any amount standing to the credit thereof to the Borrower.

  • Your Company could only disburse ₹24,95,000 whereas the sanctioned budget for CSR was ₹78,11,468/- due to the establishment of Trust and Retention Account (TRA) whereby all the business payments of your Company are controlled by the Bankers and your Company has no control on the cash flows.

  • The Issuer shall have the option to replace the Debt Service Reserve Account with a bank guarantee with the approval of Debenture Trustee and IIFCL, in accordance with the terms of the Trust and Retention Account Agreement.

  • The Issuer shall maintain the Guarantee Fee Reserve at all times in the manner set out in the Trust and Retention Account Agreement.

  • The Issuer shall pay to the Guarantor, the IIFCL Guarantee Fee monthly (or as otherwise required in accordance with the terms of the Counter-Indemnity) in advance, on each IIFCL Guarantee Fee Payment Date or on such other dates as may be required in accordance with the terms of the Counter-Indemnity and in the manner specified in the Trust and Retention Account Agreement.

  • A Trust and Retention Account is a mechanism to protect PFIs against the credit risk in an energy efficiency project and to ensure that timely repayment to the PFI.

  • The Account Bank agrees not to claim or exercise any right of set off, banker's lien or other right or remedy with respect to amounts standing to the credit of the Trust and Retention Account.

  • At any time the Lenders’ Agent is entitled to seek an account statement from the Account Bank and such evidence of usage of funds by the Successful Bidder from the Trust and Retention Account as required by the Lenders’ Agent.

  • Step 7: Sign for establishment of TRA/ ESCROW AccountThe PFI shall sign agreement for, and establishment of a Trust and Retention Account (TRA) or an ESCROW Account maintaining a reserve of principal and interest of minimum 3 months or one month as per the payment schedule along with the ESCO and the Beneficiary and the Trustee Bank (if required).

  • Provided however that the principal amount of the loans provided by the Sponsor can be re-paid by the Issuer at any time at the option of the Issuer, in accordance with the terms of the Trust and Retention Account Agreement and subject to the prior written approval of the Debenture Trustee (acting on behalf of the Majority Debenture Holders) and IIFCL.


More Definitions of Trust and Retention Account

Trust and Retention Account means the account to be opened with [•] , by the Issuer with the Account Bank.
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Trust and Retention Account shall have the meaning ascribed to It in the Trust and Retention Account Agreement; (xxxii) “Trust and Retention Account Agreement” or “TRA” shall mean the agreement to be entered into between the Borrower, the Account Bank, the Lender and the Lenders’ Agent providing for the opening and operation of the Trust and Retention Account and as modified/amended to the satisfaction of the Lender; (xxxiii) “Unpaid Liability” shall mean any amount remaining unpaid on Due Date.
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Trust and Retention Account means trust and retention account established in terms of and under this Agreement, and shall include the Sub-Accounts;
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Related to Trust and Retention Account

  • Retention Account means, an interest bearing USD account in the name of the Borrowers opened or (as the context may require) to be opened by the Borrowers with the Bank and includes any sub-accounts thereof and any other account designated in writing by the Bank to be the Retention Account for the purposes of this Agreement;

  • Administration Account As defined in Section 7.02.

  • Note Distribution Account means the account designated as such, established and maintained pursuant to Section 5.1(a)(ii).

  • Force Account means the use of the Recipient's own employees, equipment, or resources for the Project.

  • Retirement Account means any retirement or pension fund or account, listed in Iowa Code section 627.6(8)“f” as exempt from execution, regardless of the amount of contribution, the interest generated, or the total amount in the fund or account.

  • Retirement Accounts has the meaning ascribed thereto in Section 2.1(F)(7) hereof.

  • Individual retirement account means a trust, custodial arrangement, or annuity under Section 408(a) or (b), Internal Revenue Code of 1954 (26 U.S.C. Section 408 (1986)).

  • frozen account means an account with a relevant institution which is held or controlled (directly or indirectly) by a designated person;

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • Distribution Accounts Collectively, the Upper-Tier REMIC Distribution Account, the Lower-Tier REMIC Distribution Account, the Excess Interest Distribution Account (and in each case any subaccount thereof), all of which may be subaccounts of a single Eligible Account.

  • Designated Retirement Account means any retirement plan or account described or qualified under the Internal Revenue Code of 1986, as amended, or a subaccount thereof.

  • Rollover Contribution Account means the separate Account maintained for a Member to record such Member's share of the Trust Fund attributable to any Rollover Contribution made to the Plan on his behalf.

  • Note Account As defined in the Indenture.

  • Disbursement Account means, in respect of each Tranche, the bank account set out in the most recent List of Authorised Signatories and Accounts.

  • Employer Account The Participant's Matching 401(k) Contributions Account, Matching Thrift Contributions Account, Employer Contributions Account, Qualified Matching Contributions Account and Qualified Nonelective Contributions Account, as the case may be.

  • Note Payment Account means the account established and maintained as such pursuant to Section 4.1(b).

  • Collection Accounts As defined in Section 3.10(a).

  • Special Account means the account referred to in Section 2.02 (b) of this Agreement;

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

  • Trust Assets means, with respect to the Appointments and to the extent held, deposited or invested by any Seller for the benefit of others (whether or not constituting all or a portion of the corpus of any trust) as collateral, trust assets or otherwise by the applicable Corporate Trust Contracts or any other applicable legal obligation, (a) all cash on hand or held in bank accounts (including the Deposits) or in money market funds, and (b) all shares, stock, bonds, debentures, notes, mortgages, guarantees, letters of credit, certificates of indebtedness, warrants, treasuries or other securities or financial instruments or property of any type or description.

  • Subsidy Account If the Trust Estate contains any Subsidy Loans, the deposit account or accounts created and maintained by the Servicer for deposit of Subsidy Funds and amounts payable under interest subsidy agreements relating to mortgage loans other than the Mortgage Loans.

  • Company Contribution Account means (i) the sum of the Participant’s Company Contribution Amounts, plus (ii) amounts credited or debited to the Participant’s Company Contribution Account in accordance with this Plan, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant’s Company Contribution Account.

  • Collection Account Control Agreement means that certain Account Control Agreement, dated as of the date hereof, by and among Seller, Buyer, and U.S. Bank National Association, in form and substance acceptable to Buyer, as the same may be amended, restated, supplemented or otherwise modified from time to time, and which shall provide for Buyer control of the Collection Account as of the date of execution.

  • Direct Account : means any Account which is not an ISA Account.

  • In-Service Account means a separate account to be kept for each Participant that has elected to take in-service distributions as described in Section 5.4. The In-Service Account shall be adjusted in the same manner and at the same time as the Deferred Compensation Account under Section 8 and in accordance with the rules and elections in effect under Section 8.

  • Rollover Account means the account established hereunder to which amounts transferred from a qualified plan or individual retirement account in accordance with Section 4.6 are allocated.