Trust Operating Account definition

Trust Operating Account means the account into which the Trust Remainder Share is transferred upon the death of the Beneficiary or other termination of a sub-account. The amounts in the Trust Operating Account will be used by the Special Needs Trust Foundation to carry out its exempt activities and programs.
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Trust Operating Account means the account into which the Remainder Amount is paid when a Beneficiary’s IBA is terminated. This account is owned by AGED and funds can be transferred to AGED to be used by AGED to carry out its tax exempt purposes.
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Examples of Trust Operating Account in a sentence

  • One such decision per meeting No. 08/2010 was made to transfer K800,000 from the Hospital Operating Account into the Hospital Fees Trust Operating Account with an intention to purchase motor vehicles and general maintenance work on staff houses.

  • Unless the Beneficiary’s Joinder Agreement provides otherwise, or if no other distribution is possible, the entire remainder amount in a deceased Beneficiary individual sub-account after the repayment of medical expenses under this Article shall be added to the Trust Operating Account maintained by the Trust as the Trust Remainder Share.

  • The Trust Remainder Share shall be placed in the Trust Operating Account by the Trustee to be used to carry out the SNTF’s exempt activities and programs.

  • Unless the Beneficiary’s Joinder Agreement provides otherwise, or if no other distribution is possible, the entire remainder amount in a deceased Beneficiary individual sub-account shall be added to the Trust Operating Account maintained by the Trust as the Trust Remainder Share.

  • Checking, savings, money market, or financial brokerage accounts (Identify all)Name of institution (bank or brokerage firm) Type of account Last 4 digits of accountnumber 3.1. First Bank & Trust Checking 3662 $88,257.00 3.2. Bankers Trust (Operating Account) Checking 1335 $17,221.00 3.3. Great Western Bank Checking 3726 $27,456.00 3.4. Bankers Trust (Petty Cash) Checking 1327 $2,047.00 4.

  • Unless the Beneficiary’s Joinder Agreement provides otherwise, or if no other distribution is possible, the entire remainder amount in a deceased Beneficiary’s individual sub-account after the repayment of medical expenses under this Article shall be added to the Trust Operating Account maintained by the Trust.

  • Manager shall be entitled to pay itself such amount from the Trust Operating Account.

  • Any and all funds generated by the Matching Mechanism shall be deposited in the MEPA Trust Operating Account (as defined above).

  • Such amounts retained by the Trustee as the Trust Remainder Share shall be distributed to the Trust Operating Account to be used to carry out the SNTF's exempt activities and programs.

  • FINANCIAL:Alicia and Barry report we currently have in the bank: Midfirst Bank: $24,980.25; Northern Trust Operating Account: $232,100.54; Northern Trust Securities Fund: $497,807.69; Accounts payable are $6,400.

Related to Trust Operating Account

  • 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.

  • Operating Accounts shall have the meaning ascribed to it in Section 4.03.A.

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

  • Debt Service Fund means the fund so designated in, and created pursuant to, Section 502 hereof.

  • Sub-Servicing Account An account established by a Sub-Servicer which meets the requirements set forth in Section 3.08 and is otherwise acceptable to the Master Servicer.

  • Debt Service Account means the Debt Service Account for General Obligation Temporary Notes, Series 2017-1 (within the Bond and Interest Fund) created pursuant to Section 501 hereof.

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

  • Pre-Funding Account means the account designated as the Pre-Funding Account in, and which is established and maintained pursuant to Section 7.07.

  • Servicing Accounts The account or accounts created and maintained pursuant to Section 3.08.

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

  • Project Account means the account referred to in Section 3.04 (a) of this Agreement;

  • Debt Service Reserve Account shall have the meaning given to it in the Depository Agreement.

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

  • 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.

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

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

  • Payment Account means a segregated non-interest-bearing corporate trust account maintained by the Property Trustee with the Bank in its trust department for the benefit of the Securityholders in which all amounts paid in respect of the Debentures shall be held and from which the Property Trustee shall make payments to the Securityholders in accordance with Sections 401 and 402.

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.

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

  • Series Reserve Account means the Reserve Account for the Series of Bonds established in the Reserve Fund by Supplemental Indenture in an amount equal to the Series Reserve Account Requirement for such Series of Bonds.

  • 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.

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

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • 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.