Trust Account and Settlements Sample Clauses

Trust Account and Settlements. The Trustee shall hold assets in the Trust Account pursuant to the terms of the Trust Agreement. All settlements of account under this Agreement between the Ceding Company and the Reinsurer shall be made in United States dollars in cash or its equivalent or other assets withdrawn by the Ceding Company from the Trust Account.
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Trust Account and Settlements. The trustee shall hold assets in the Trust Account pursuant to the terms of the Trust Agreement.
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Trust Account and Settlements. The Trustee shall hold assets in the Trust Account pursuant to the terms of the Trust Agreement. All settlements of account under this Agreement between the Ceding Company and the Reinsurer shall be made in U.S. dollars in cash or cash equivalents. Eligible Assets. The assets that may be held in the Trust Account shall consist only of cash in United States dollars or investments of the type consistent with the requirements for authorized investments and admitted assets under the insurance laws of the State of Tennessee or any combination thereof; provided, that (a) each such investment that is a security is issued by an institution that is not the Reinsurer, the Ceding Company, or an Affiliate of either Party and (b) such investments, together with the assets in the Protective Life and Annuity Trust Account, consist of securities that comply with the investment guidelines set forth on Schedule C hereto; provided, further, that, following the occurrence of a Triggering Event, the assets in the Trust Account shall consist only of investments that meet all applicable requirements under the insurance laws of the Ceding Company Domiciliary State with respect to providing Reserve Credit to the Ceding Company (any asset satisfying all of the requirements of this sentence, the “Eligible Assets”). The Reinsurer shall, in accordance with Section 4.8(a) and (c), provide to the Ceding Company quarterly reports listing each asset in the Trust Account and the Statutory Book Value (or the Fair Market Value, if applicable) of each such asset as of the end of the relevant calendar quarter and certify that each such asset is an Eligible Asset. The Reinsurer shall also provide to the Ceding Company a monthly report in a mutually agreeable electronic format within ten (10) Business Days of the end of each calendar month which lists each asset in the Trust Account as of the end of the preceding calendar month. Deposit of Assets. Prior to depositing assets in the Trust Account, the Ceding Company or the Reinsurer, as applicable, shall execute assignments or endorsements in blank, or transfer legal title to the Trustee of all shares, obligations or any other assets requiring assignments, in order that the Ceding Company, the Reinsurer or the Trustee upon the direction of the Ceding Company or the Reinsurer, may whenever necessary negotiate these assets without the consent or signature from the Reinsurer, the Ceding Company or any other entity.
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Related to Trust Account and Settlements

  • Deposit Account Transactions (a) The Bank or its Subcustodians will make payments from the Deposit Account upon receipt of Instructions which include all information required by the Bank.

  • Settlement Account 4.1 The Scheduling Coordinator shall maintain at all times an account with a bank capable of Fed-Wire transfer to which credits or debits shall be made in accordance with the billing and Settlement provisions of Section 11 of the CAISO Tariff. Such account shall be the account as notified by the Scheduling Coordinator to the CAISO from time to time by giving at least 20 days written notice before the new account becomes operational, together with all information necessary for the CAISO's processing of a change in that account.

  • 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.

  • Custody Account Transactions (a) Securities will be transferred, exchanged or delivered by the Bank or its Subcustodian upon receipt by the Bank of Instructions which include all information required by the Bank. Settlement and payment for Securities received for, and delivery of Securities out of, the Custody Account may be made in accordance with the customary or established securities trading or securities processing practices and procedures in the jurisdiction or market in which the transaction occurs, including, without limitation, delivery of Securities to a purchaser, dealer or their agents against a receipt with the expectation of receiving later payment and free delivery. Delivery of Securities out of the Custody Account may also be made in any manner specifically required by Instructions acceptable to the Bank.

  • Trust Accounts (a) On or prior to the Closing Date, the Issuer shall cause the Servicer to establish and maintain, in the name of the Indenture Trustee, for the benefit of the Noteholders and, to the extent set forth herein, the Certificateholder, the Collection Account as provided in Section 5.01 of the Sale and Servicing Agreement.

  • Deposit Accounts and Securities Accounts Set forth on Schedule 4.15 (as updated pursuant to the provisions of the Security Agreement from time to time) is a listing of all of the Loan Parties’ and their Subsidiaries’ Deposit Accounts and Securities Accounts, including, with respect to each bank or securities intermediary (a) the name and address of such Person, and (b) the account numbers of the Deposit Accounts or Securities Accounts maintained with such Person.

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

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