BANK'S ACCOUNT Sample Clauses

BANK'S ACCOUNT. All funds held in the Depository Account shall be subject to transfer to an account designated by the Bank (the "Bank's Account") as set forth in the Depository Agreement or as otherwise designated by Bank and the application of any such funds to the payment of the Obligations shall not occur until Bank's receipt of such funds in cleared federal funds in Bank's Account. The order and method of application of such payment to the Obligations shall be in the sole discretion of Bank. (D)
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BANK'S ACCOUNT. You will establish and maintain for the benefit of the Bank a segregated special purpose account designated "Mitsubishi Bank Letter of Credit Account" (the "Bank's Account"), the funds in which shall be subject to withdrawal solely by the Bank except as provided in Section 2(a) of this Agreement. Funds will not be deposited to the Bank's Account except as provided herein, and funds deposited therein will not be commingled with any other funds. Before the close of business on each Business Day, the Depositary shall transfer any funds in the Bank's Account to any other account of the Bank as designated by the Bank. The Bank agrees to keep designated an account pursuant to the preceding sentence at all times.
Sample 1
BANK'S ACCOUNT. All funds held in the Depository Account shall be -------------- subject to transfer to an account designated by the Bank (the "Bank's Account") as set forth in the Depository Agreement or as otherwise designated by Bank and the application of any such funds to the payment of the Obligations shall not occur until Bank's receipt of such funds in cleared federal funds in Bank's Account. The order and method of application of such payment to the Obligations shall be in the sole discretion of Bank. Upon receipt of notice from Borrowers regarding the amount of funds to be transferred from the Depository Account to the Bank's Account, Bank shall cause such amount of funds to be transferred to the Bank's Account.
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BANK'S ACCOUNT. Upon the occurrence of an Event of Default -------------- which is continuing, all funds held in the Depository Account shall be subject to transfer to the Banks Account and the application of any such funds to the payment of the Obligations shall not occur until Bank's receipt of such funds in cleared federal funds in Bank's account.
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Related to BANK'S ACCOUNT

  • Concentration Account Concentration Account" has the meaning set forth in Section 2.3.

  • Collateral Accounts Evidence that the Collateral Accounts have been established;

  • Disbursement Account A trust account for the benefit of Owner, opened by Manager with an FDIC insured bank to pay for “Operating Expenses” as defined in Section 4.01(b).

  • Deposits to the Collection Account and Special Payments Account (a) The Subordination Agent shall, upon receipt thereof, deposit in the Collection Account all Scheduled Payments received by it (other than any Scheduled Payment which by the express terms hereof is to be deposited to a Cash Collateral Account).

  • Segregated Account The Custodian shall upon receipt of Proper Instructions from the Fund on behalf of each applicable Portfolio establish and maintain a segregated account or accounts for and on behalf of each such Portfolio, into which account or accounts may be transferred cash and/or securities, including securities maintained in an account by the Custodian pursuant to Section 2.10 hereof, (i) in accordance with the provisions of any agreement among the Fund on behalf of the Portfolio, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered contract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Portfolio, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Portfolio or commodity futures contracts or options thereon purchased or sold by the Portfolio, (iii) for the purposes of compliance by the Portfolio with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, BUT ONLY, in the case of clause (iv), upon receipt of, in addition to Proper Instructions from the Fund on behalf of the applicable Portfolio, a certified copy of a resolution of the Board of Trustees or of the Executive Committee signed by an officer of the Fund and certified by the Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

  • Designated Accounts The Collection Account, the Note Distribution Account and the Reserve Account, collectively. Determination Date: The tenth day of each calendar month, or if such tenth day is not a Business Day, the next succeeding Business Day. Discount Rate: 0.00% per annum.

  • Collection Accounts Section 3.11 Withdrawals from the Collection Accounts..................... Section 3.12 Investment of Funds in the Collection Accounts and the Distribution Account......................................... Section 3.13 Maintenance of Hazard Insurance and Errors and Omissions and Fidelity Coverage........................................ Section 3.14 Enforcement of Due-on-Sale Clauses; Assumption Agreements.... Section 3.15

  • Deposit Account Payments Subsection (b) is amended to read as follows:

  • Certificate Account and Special Payments Account (a) The Trustee shall establish and maintain on behalf of the Certificateholders a Certificate Account as one or more non-interest-bearing accounts. The Trustee shall hold the Certificate Account in trust for the benefit of the Certificateholders, and shall make or permit withdrawals therefrom only as provided in this Agreement. On each day when a Scheduled Payment is made to the Trustee under the Intercreditor Agreement, the Trustee upon receipt thereof shall immediately deposit the aggregate amount of such Scheduled Payment in the Certificate Account.

  • Segregated Accounts Upon receipt of Proper Instructions, the Custodian shall establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or Securities, including Securities maintained in a Depository Account:

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