Policy Account Sample Clauses

Policy Account. For each Policy, (i) an amount equal to the account value thereof invested on a variable basis shall be held by the Company in the Registered Separate Accounts and (ii) an amount equal to the account value thereof invested on a non-variable basis shall be held by the Company in the Unregistered Separate Account or transferred to the Company's General Account, in each case as required by the relevant Policy and Applicable Law, and consistent with the practices, policies and procedures of the Company as of the Effective Time. For the avoidance of doubt, in the event that any Policy or any Applicable Law is deemed to require the transfer of additional assets to the Unregistered Separate Account at any time, Reinsurer shall be responsible for transferring its assets to the Unregistered Separate Account to satisfy such requirement.
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Policy Account. For each Policy, an amount equal to the accumulated value (as defined in the Policies) thereof invested on a variable basis shall be held by the Company in the Separate Accounts.
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Policy Account. For each Policy which is a variable annuity contract, an amount equal to the Merrxxx Xxxcx Xxxiable Annuity Account value or for variable annuity contracts annuitized on a variable basis, the annuitized contract reserves, shall be held by FLIC in the Separate Account.
Sample 1
Policy Account. ARTICLE THREE
Sample 1
Policy Account. (a) As of the date hereof, the Indenture Trustee has established in the name of the Indenture Trustee a separate special purpose trust account with the corporate trust department of The Bank of New York in New York (account no. 001621) (such account, the "Policy Account") for the benefit of the Indenture Trustee on behalf of the Noteholders. The Policy Account shall be maintained in a depository institution which at all times is rated at least "P-1" by Moody's and "A-1" by Standard & Poor's and if such depository institution at any time is rated below "P-1" by Moody's or "A-1" by Standard & Poor's, the Policy Account shall be transferred from and established at another depository institution meeting such criteria within one month of the occurrence of such ratings downgrade. The Indenture Trustee shall have exclusive dominion and control over and sole right of withdrawal of any amounts in the Policy Account. Amounts in the Policy Account shall be invested at the written direction of the American Servicer in Eligible Investments consisting solely of obligations issued and guaranteed as to the full and timely payment of principal and interest by the United States of America. All such Eligible Investments shall have maturities of a period ending on the earlier of the next Payment Date or the Optional Redemption Date or the Mandatory Redemption Date, as the case may be. Amounts in the Policy Account shall be disbursed by the Indenture Trustee in respect of the Notes in the same manner as principal and interest payments are to be made with respect to the Notes hereunder. It shall not be necessary for such payments to be made by checks or wire transfers separate from the check or wire transfer used to pay Insured Payments with other funds available to make such payments. However, the amount of any Insured Payment to be paid from the Policy Account shall be noted as provided in subsection (c) below.
Sample 1

Related to Policy Account

  • Disbursement Account 12.1 The Lender is obligated to keep the bank account information provided on the Platform up to date. The account shall be managed by a bank within the Single Euro Payment Area (hereinafter “SEPA”).

  • Special Account 1. For the purposes of this Schedule:

  • 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.

  • Operating Account To the extent funds are not required to be placed in a lockbox pursuant to any Loan Documents, Property Manager shall deposit all rents and other funds collected from the operation of the Property in a reputable bank or financial institution in a special trust or depository account or accounts for the Property maintained by Property Manager for the benefit of the Company (such accounts, together with any interest earned thereon, shall collectively be referred to herein as the “Operating Account”). Property Manager shall maintain books and records of the funds deposited in and withdrawals from the Operating Account. With funds from Company, Property Manager shall maintain the Operating Account so that an amount at least as great as the budgeted expenses for such month is in the Operating Account as of the first of each month. From the Operating Account, Property Manager shall pay the operating expenses of the Property and any other payments relative to the Property as required by this Agreement. If more than one account is necessary to operate the Property, each account shall have a unique name, except to the extent any Lender requires sub-accounts within any account. Within three (3) months after receipt by Property Manager, all rents and other funds collected in the Operating Account, after payment of all operating expenses, debt service and such amounts as may be determined by the Property Manager to be retained for reserves or improvements, shall be paid to the Company.

  • Deposits to Collection Account The Servicer shall use its best efforts to deposit or cause to be deposited (without duplication), within one (1) Business Day after receipt thereof, into the Collection Account and retain therein in trust for the benefit of the Noteholders and the Securities Insurer:

  • Separate Account If Student-Generated Content is stored or maintained by the Provider, Provider shall, at the request of the LEA, transfer, or provide a mechanism for the LEA to transfer, said Student- Generated Content to a separate account created by the student.

  • Establishment of Collection Account (a) The Servicer, on behalf of the Issuer and the Indenture Trustee, shall establish the Collection Account in the name of the Indenture Trustee for the benefit of the Securityholders. The Collection Account shall be an Eligible Deposit Account initially established with the Indenture Trustee and maintained with the Indenture Trustee. Except as otherwise provided in this Agreement, in the event that the Collection Account maintained with the Indenture Trustee is no longer an Eligible Deposit Account, then the Servicer shall, with the Indenture Trustee’s assistance, as necessary, use reasonable efforts to cause the Collection Account to be moved to an Eligible Institution within thirty days.

  • Withdrawals from the Collection Account (a) The Servicer shall, from time to time, make withdrawals from the Collection Account for any of the following purposes or as described in Section 4.01:

  • Withdrawals from the Collection Account and Distribution Account (a) The Servicer shall, from time to time, make withdrawals from the Collection Account for any of the following purposes or as described in Section 4.03:

  • 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.

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