Control of Bank Account Sample Clauses

Control of Bank Account. Subject to the trust in favour of Purchasers, the Escrow Agent may comply with any and all lawful instructions originated by the Vendor with respect to the Collateral until such time as Tarion delivers a notice (a “Default Notice”) to the Vendor and the Escrow Agent indicating that an Event of Default (as defined in section 4.4 hereof) has occurred and is continuing and Tarion is thereby exercising exclusive control over the Collateral and from and after receipt by the Vendor and the Escrow Agent of such written notice (and until the Escrow Agent receives from Tarion a written withdrawal of such notice) neither the Vendor nor any person acting through or under the Vendor shall have any access to the Collateral and the Escrow Agent shall not comply with any instructions originated by the Vendor directing disposition of the Collateral.
Sample 1Sample 2
AutoNDA by SimpleDocs
Control of Bank Account. (s). Manager shall have absolute control of the Bank Account(s). Manager shall have absolute control of the House Bank. All Gross Revenues shall pass through the Bank Account(s). All amounts on deposit in the Bank Account(s) shall be invested in interest-bearing investments, to the extent that availability of funds, when required, is
Sample 1
Control of Bank Account. (s). Manager shall have absolute control of the Bank Account(s). Manager shall have absolute control of the House Bank. All Gross Revenues shall pass through the Bank Account(s). All amounts on deposit in the Bank Account(s) shall be invested in interest-bearing investments, to the extent that availability of funds, when required, is not thereby impaired, in securities issued or guaranteed by the United States government or in securities issued by any state or federally chartered bank and insured by the United States government or, subject to Owner's consent, any other investment proposed by Manager. Interest earned on amounts deposited in the Bank Account(s) shall be credited to the Bank Account(s) and shall be for the benefit of Owner.
Sample 1

Related to Control of Bank Account

  • Location of Bank Accounts Schedule 6.01(v) sets forth a complete and accurate list as of the Effective Date of all deposit, checking and other bank accounts, all securities and other accounts maintained with any broker dealer and all other similar accounts maintained by each Loan Party, together with a description thereof (i.e., the bank or broker dealer at which such deposit or other account is maintained and the account number and the purpose thereof).

  • Establishment of Bank Accounts On or before the Closing Date, the Servicer will establish the following segregated trust accounts at a Qualified Institution (initially the corporate trust department of ), each in the name “ , as Indenture Trustee, as secured party for Ford Credit Auto Owner Trust 20 - “, to be designated as follows:

  • Bank Account Payments shall be made to the Contractor’s bank account denominated in euro, identified as follows: Name of bank: [complete] Address of branch in full: [complete] Exact designation of account holder: [complete] Full account number including codes: [complete] [IBAN code: [complete]]

  • Control Account The Agent shall open and maintain on its books a control account in the name of the Borrower showing the advance of the Loan and the computation and payment of interest and all other sums due under this Agreement. The Borrower’s obligations to repay the Loan and to pay interest and all other sums due under this Agreement shall be evidenced by the entries from time to time made in the control account opened and maintained under this Clause 17.7 and those entries will, in the absence of manifest error, be conclusive and binding.

  • Establishment of the Bank Account 2.1 The Escrow Agent shall establish a non-interest bearing bank account at a branch of XX Xxxxxx Chase selected by the Escrow Agent, and bearing the designation set forth on the Information Sheet (heretofore defined as the “Bank Account”). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, or wire transfers) which are received by the Underwriter from prospective purchasers of the Securities and are delivered by the Underwriter to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, and (c) the disbursement of collected funds, all as described herein.

  • Disbursement from the Bank Account 4.1 Subject to 4.3 below, if by the close of regular banking hours on the Termination Date the Escrow Agent determines that the amount in the Fund is less than the Minimum Dollar Amount or the Minimum Securities Amount, as indicated by the Subscription Information submitted to the Escrow Agent, then in either such case, the Escrow Agent shall promptly refund to each prospective purchaser the amount of payment received from such purchaser which is then held in the Fund or which thereafter clears the banking system, without interest thereon or deduction therefrom, by drawing checks on the Bank Account for the amounts of such payments and transmitting them to the purchasers. In such event, the Escrow Agent shall promptly notify the Issuer of its distribution of the Fund.

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

  • Income Account The Trustee shall collect the dividends and other cash distributions on the Securities in each Trust which would be treated as dividend (other than capital gain dividends) or interest income under the Internal Revenue Code as such become payable (including all monies which would be so treated representing penalties for the failure to make timely payments on the Securities, or as liquidated damages for default or breach of any condition or term of the Securities or of the underlying instrument relating to any Securities and other income attributable to a Failed Contract Obligation for which no Replacement Security has been obtained pursuant to Section 3.12 hereof) and credit such income to a separate account for each Trust to be known as the "Income Account." Any non-cash distributions received by a Trust shall be sold to the extent they would be treated as dividend or interest income under the Internal Revenue Code and the proceeds shall be credited to the Income Account. Except as provided in the preceding sentence, non-cash distributions received by a Trust (other than a non-taxable distribution of the shares of the distributing corporation which shall be retained by a Trust) shall be dealt with in the manner described in Section 3.11, herein, and shall be retained or disposed of by such Trust according to those provisions and the proceeds thereof shall be credited to the Capital (Principal) Account. Neither the Trustee nor the Depositor shall be liable or responsible in any way for depreciation or loss incurred by reason of any such sale. All other distributions received by a Trust shall be credited to the Capital (Principal) Account."

Time is Money Join Law Insider Premium to draft better contracts faster.