Secured Account Sample Clauses

Secured Account. Your Credit Builder Pocket is secured by a deposit account that you were required to establish and maintain in order to have the Credit Builder Pocket (referred to as the “Secured Account”), and by the Funds you have deposited in the Secured Account. If you fail to make your required payments on your Credit Builder Pocket or otherwise fail to comply with the terms of the Agreement, you could lose all Funds in your Secured Account. You were provided the Secured Account Agreement when you applied for the Credit Builder Pocket. That Security Account Agreement includes, among other important provisions, information on the security interest you have granted to -Us in your Secured Account and -our rights against all Funds in that Secured Account in the event of your Default under this Agreement.
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Secured Account. The Secured Account is not allocated to the long-term insurance fund of the Account Party or subject to any legal or contractual provision that would cause the claims of any person to rank in priority to the claims of the Finance Parties in respect of the Collateral, save as expressly permitted by any Finance Document.
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Secured Account. This is an application for a secured account. In consideration of the issuance of this secured account, you have authorized us to open a Secured Account, called the “Secured Account,” in your name. If you fail to make your required payments on your secured charge card or otherwise fail to comply with the terms of the Secured Account Agreement, you could lose all Funds in the Secured Account. To secure all of your obligations arising under this secured charge card, you assign, transfer, pledge, grant a security interest in, and set over to Us all rights, title and interest in the Secured Account and in all renewals, additions and proceeds of the Secured Account. You agree that this security interest, pledge, and assignment includes and gives -Us the right to redeem, collect and withdraw any part of the full amount of the Secured Account upon any Default under the Secured Account Agreement or in the event your secured charge card is terminated for any reason. You acknowledge and agree that this security interest, pledge, and assignment means that -We has exclusive control over the Secured Account. -We, in our sole discretion, may grant you rights to use the Funds in the Secured Account, subject to the terms of the Secured Account Agreement. The Secured Account is a non-interest bearing account; therefore, no interest will be paid to you on the Secured Account. This security interest, pledge, and assignment is given as security for any and all amounts you may owe, including but not limited to interest, fees and charges that may accrue under your secured charge card. You agree that if the secured charge card is closed for any reason, -we may apply Funds in the Secured Account to pay off any balance on the secured charge card account. If there are still Funds remaining in the Secured Account after doing so, these Funds may remain on deposit for up to 60 days before being remitted to you. See the Secured Account Agreement below.
Sample 1
Secured Account. In consideration of and as a condition to our opening and permitting you to use the Step Card and Card Account and for other good and valuable consideration, You are arranging for certain Secured Funds to serve as a security for your Card Account by providing the authorization in Section 2 (Your Grant of Security Interest). You authorize us to open an account at Bank in your name and under our exclusive control the (“Secured Account”). The Secured Account and the Secured Funds shall be under the Bank’s exclusive control. No portion of the Secured Funds may be withdrawn from the Secured Account without our prior express approval and may not be used to secure other loans. Pursuant to this Security Agreement you agree that you are irrevocably and unconditionally conveying all of your possession and control over the Secured Account and Secured Funds to us.
Sample 1

Related to Secured 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.

  • The Collateral Account (a) Upon receipt by the Collateral Agent of a Notice of Actionable Default, and until such time as the Actionable Default described therein is cured or waived, the Collateral Agent shall establish and maintain at its principal office an interest-bearing account that shall be entitled the “Encore Capital Collateral Account.” All moneys received by the Collateral Agent with respect to Collateral after receipt of a Notice of Actionable Default and until such time as the Actionable Default described therein is cured or waived shall be deposited in the Collateral Account and thereafter shall be held, applied and/or disbursed by the Collateral Agent in accordance with Section 9 hereof. In addition, (i) any other payments received, directly or indirectly, by any Secured Party of or with respect to any of the Secured Obligations from the Borrower or any Guarantor after the occurrence and during the continuance of an Actionable Default (including, without limitation, any amount of any balances held by any Secured Party for the account of the Borrower or any Guarantor or any other property held or owing by it to or for the credit or for the account of the Borrower or any Guarantor which has been set off or appropriated by it and any payments received upon the termination of any Rate Management Transaction prior to its stated termination date), (ii) any payment received by any Secured Party with respect to any of the Secured Obligations in an insolvency or reorganization proceeding or otherwise with respect to the Borrower or any Guarantor or (iii) any payment from a Guarantor received by any Secured Party with respect to any Secured Obligations, shall, in each case, promptly be delivered to the Collateral Agent and thereafter shall be held, applied and/or disbursed by the Collateral Agent in accordance with Section 9 hereof, provided that the foregoing clauses (i), (ii) and (iii) shall not apply to distributions by the Collateral Agent under Section 9 hereof. The Collateral Account at all times shall be subject to the exclusive dominion and control of the Collateral Agent. Each of the Borrower and each Guarantor hereby pledges, assigns and grants to the Collateral Agent, on behalf of and for the ratable benefit of the Secured Parties, a security interest in all of its right, title and interest in and to the Collateral Account and all funds which may from time to time be on deposit therein to secure the prompt and complete payment and performance of the Secured Obligations.

  • 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:

  • Lender Accounts The Lender shall maintain an account showing the amounts advanced by the Lender and all other sums owing to the Lender from the Borrowers and each Security Party under the Finance Documents and all payments in respect of those amounts made by the Borrowers and any Security Party.

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

  • Collateral Account and Security Interest At any time when Fund’s assets are below $15 million, the Advisor, for value received, hereby pledges, assigns, sets over and grants to the Trust a continuing security interest in and to an account to be established and maintained by the Advisor with the Securities Intermediary and designated as a collateral account (the “Collateral Account”), including any replacement account established with any successor, together with all dividends, interest, stock-splits, distributions, profits and all cash and non-cash proceeds thereof and any and all other rights as may now or hereafter derive or accrue therefrom (collectively, the “Collateral”) to secure the payment of any required Fund Reimbursement Payment or Liquidation Expenses (as defined in Paragraph 5 of this Agreement). For so long as this Agreement is in effect, any transfers or conveyances of Collateral to any party shall require the approval of the Board of Trustees of the Trust (the “Board”), except as specified in Section 7(a)(ii) of this Agreement, below. In addition, the Trust will not issue entitlement orders, redeem or otherwise take any action with respect to the Collateral or Collateral Account unless a Collateral Event (defined below under Section 5 of this Agreement) has occurred or is continuing.

  • LC Collateral Account (i) The Administrative Agent is hereby authorized to establish and maintain at the Notice Office, in the name of the Administrative Agent and pursuant to a dominion and control agreement, a restricted deposit account designated “The Lead Borrower LC Collateral Account.” Each Credit Party shall deposit into the LC Collateral Account from time to time the Cash Collateral required to be deposited under Section 2.13(j) hereof.

  • Collateral Account Party B shall open and maintain a segregated account, which shall be an Eligible Account, and hold, record and identify all Posted Collateral in such segregated account.

  • Blocked Account The Blocked Account referred to in Section 2.10(c) hereof shall have been established to the satisfaction of FINOVA in its sole discretion;

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