Custodian Account. In accordance with this Agreement and the Account Control Agreement, the Borrower shall, on or prior to the Closing Date, establish at the Account Bank one (1) segregated securities account, which shall be designated as the “Custodian Account”, which shall be maintained by the Borrower with the Account Bank in accordance with the Account Control Agreement and which shall be subject to the Lien of the Collateral Agent. All promissory notes shall be credited to the Custodian Account.
Custodian Account. You may make a gift or transfer of money to a minor under state law by opening an account in the name of the minor with you or another adult listed as custodian. You may also designate a successor custodian. Your rights and duties as custodian are governed by the Uniform Gifts To Minors Act or Uniform Transfers to Minors Act of the state where you reside at the time you open the account. This law will also determine how the account balance will be handled upon the Custodian’s death, resignation or removal. Only the Custodian is authorized to act on the account.
Custodian Account. In accordance with this Agreement and the Account Control Agreement, the Collateral Agent shall, on or prior to the Closing Date, establish at the Custodian a single, segregated, non-interest bearing trust account, which shall be designated as the “Custodian Account”, which shall be maintained by the Borrower with the Custodian in accordance with the Account Control Agreement, to which any Collateral shall be credited by the Securities Intermediary and which shall be subject to the Lien of the Collateral Agent.
Custodian Account. Notwithstanding the foregoing, under the provisions of Section 4.5 a portion of the aggregate Merger Consideration which each of the InfoAccess shareholders would be otherwise entitled to receive shall instead be held in a custodian account.
Custodian Account. All Collateral consisting of U.S. Government Obligations or Clearing Corporation Securities, and such other securities and/or cash as the Collateral Trustee may determine in its discretion, shall be credited to one or more Securities Accounts maintained by the Custodian in the name of the Collateral Trustee (each, the “Custodian Account”).
Custodian Account. (a) LLANY has entered into the ----------------- Custodian Agreement and has established a Custodian Account (the "Custodian Account") thereunder for the benefit of the policyholders of Seller resident in New York. LLANY agrees that, subsequent to the transfer of assets to the Custodian Account as described in Article VII above, LLANY will thereafter maintain in the Custodian Account assets having a market value not less than an amount equal to 100% of the amount of the General Account Reserves, less the aggregate amount of contract loans under the Non-Novated Contracts (the "Required Amount"), to be held by the Custodian. Following the receipt of each General Account Reserves Statement, LLANY shall, to the extent that the market value of the assets held in the Custodian Account on the last day of the month just ended (the "Custodian Asset Value") is less than the Required Amount so calculated, within five Business Days of its receipt of such General Account Reserves Statement, transfer to the Custodian Account assets with a market value on the date of transfer at least equal to the difference between the Required Amount and the Custodian Asset Value.
Custodian Account. In the event that the New York Insurance Department rejects a proposal submitted to the New York Insurance Department by the parties calling for the establishment by Newco of a custodian arrangement for the benefit of holders of Insurance Contracts issued in New York and for the release of assets held pursuant to the Seller Custodian Agreement with a fair market value equal to the portion of the General Account Reserves that pertains to those Insurance Contracts that are subject to the provisions of the Seller Custodian Agreement, the parties shall negotiate in good faith to formulate a revised proposal for submission to the New York Insurance Department with the objective of securing the release of such assets. Notwithstanding this Section 5.30, in no event shall Purchaser or Newco be required to (i) fund any custodian account in an amount exceeding 100% of the General Account Reserves pertaining to the relevant Insurance Contracts minus the aggregate amount of contract loans under such Insurance Contracts or (ii) bear any costs that are significantly in excess of those that Purchaser or Newco would have borne had the relevant assets been maintained under the Newco Trust Agreement.
Custodian Account
