Establishment of Pledge Account Sample Clauses

Establishment of Pledge Account. On the Closing Date, the Pledge Agent shall establish a pledge account entitled "Pledge Account pledged by First Wave Marine, Inc. to Bank One, N.A., as Trustee" (the "Pledge Account") at its office located at 100 Xxxx Xxxxx, Xxxxxxxx, Xxxx 00000-0000. Xll funds accepted by the Pledge Agent pursuant to this Agreement shall be held for the exclusive benefit of the Trustee and the holders of the Notes, as secured parties hereunder (the "Beneficiaries"). All such funds shall be held in the Pledge Account until disbursed or paid in accordance with the terms hereof. The Pledge Account, the funds held therein and any Government Securities held by the Pledge Agent shall be under the sole dominion and control of the Pledge Agent for the benefit of the Beneficiaries. On the Closing Date, the Company shall deliver the Initial Pledge Amount to the Pledge Agent for deposit into the Pledge Account against the Pledge Agent's written acknowledgment and receipt.
Sample 1
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Establishment of Pledge Account. On the Closing Date, the Pledge Agent shall establish a pledge account entitled "Pledge Account pledged by HighwayMaster Communications, Inc. to Texas Commerce Bank National Association, as Trustee" (the "Pledge Account") at its office located at 2200 Xxxx Xxxxxx, 5th Floor, Dallas, Texas 75201. All funds accepted by the Pledge Agent pursuant to this Agreement shall be held for the exclusive benefit of the Trustee and the holders of the Notes, as secured parties hereunder (the "Beneficiaries"). All such funds shall be held in the Pledge Account until disbursed or paid in accordance with the terms hereof. The Pledge Account, the funds held therein and any Government Securities held by the Pledge Agent shall be under the sole dominion and control of the Pledge Agent for the benefit of the Beneficiaries. On the Closing Date, the Company shall deliver the Initial Pledge Amount to the Pledge Agent for deposit into the Pledge Account against the Pledge Agent's written acknowledgment and receipt.
Sample 1

Related to Establishment of Pledge Account

  • Establishment of Collateral Accounts The Custodian hereby confirms and agrees that:

  • Establishment of Collateral Account The Securities Intermediary hereby confirms that:

  • Establishment of Reserve Account Pledgor and Secured Party hereby authorize and direct Securities Intermediary to establish and maintain in its corporate trust department, a segregated trust account that is an Eligible Deposit Account and that is a “securities account” as that term is defined in Section 8-501(a) of the UCC in the name of Secured Party and under the sole dominion and control of Secured Party, designated as “Toyota Auto Receivables 20[__]-[_] Owner Trust Reserve Account.” Securities Intermediary hereby undertakes to treat Secured Party as the person entitled to exercise the rights that comprise any Financial Asset credited to the Reserve Account. Secured Party and Pledgor agree that this account shall be the Reserve Account.

  • Termination of Pledge Agreement This Agreement and the rights hereby granted by Pledgor in the Collateral shall cease, terminate and be void upon fulfillment of all of the obligations of Pledgor under the Securities Contract and hereunder. Any Collateral remaining at the time of such termination shall be fully released and discharged from the Security Interests and delivered to Pledgor by Secured Party, all at the request and expense of Pledgor.

  • Establishment of Accounts The Escrow Agent hereby instructs the Depositary, and the Depositary agrees, to establish the separate deposit accounts listed on Schedule I hereto and to establish such additional separate deposit accounts as may be required in connection with the deposits contemplated by Section 2.4 hereof (each, an “Account” and collectively, the “Accounts”), each in the name of the Escrow Agent and all on the terms and conditions set forth in this Agreement.

  • Establishment of Deposit Account The Financial Institution hereby confirms and agrees that:

  • Rate of Pledge and Term of Pledge 3.1 The Rate of Pledge: The Rate of Pledge shall be 100% under this Agreement.

  • Establishment of Account (a) The Fund hereby appoints the Custodian as the custodian of all Securities and cash at any time delivered to the Custodian to be held under this Agreement. The Custodian hereby accepts such appointment and agrees to establish and maintain one or more accounts for each Series in which the Custodian will hold Securities and cash as provided herein. Such accounts (each, an “Account,” and collectively, the “Accounts”) shall be in the name of the Fund and Series, if any.

  • Establishment of Custodial Accounts; Deposits in Custodial Accounts The Seller shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts, in the form of time deposit or demand accounts. The creation of any Custodial Account shall be evidenced by a Custodial Account Letter Agreement in the form of Exhibit 7. The Seller shall deposit in the Custodial Account on a daily basis, and retain therein the following payments and collections received by it subsequent to the Cut-off Date, or received by it prior to the Cut-off Date but allocable to a period subsequent thereto, other than in respect of principal and interest on the Mortgage Loans due on or before the Cut-off Date:

  • Establishment of Securities Account The Securities Intermediary hereby confirms and agrees that:

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