Depository Account definition

Depository Account includes any commercial, checking, savings, time, or thrift account, or an account that is evidenced by a certificate of deposit, thrift certificate, investment certificate, certificate of indebtedness, or other similar instrument maintained by a Financial Institution in the ordinary course of a banking or similar business. A Depository Account also includes an amount held by an insurance company pursuant to a guaranteed investment contract or similar agreement to pay or credit interest thereon.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Depository Account means one or more account or accounts opened, maintained and operated by the Portfolio Manager with any depository or depository participant registered under the SEBI (Depositories and Participants) Regulations, 1996 in accordance with the agreement entered into with the Client.

Depository Account means one or more accounts opened, maintained and operated by the Portfolio Manager, in the name of the client, with any depository or depository participant, registered under the SEBI (Depositories and Participants) Regulations, 1996.

Examples of Depository Account in a sentence

Each such Swingline Loan shall be made by wire transfer to such Depository Account of Borrower Representative as shall be designated in writing by Borrower Representative to Agent.
Each such Depository Account is subject to a Depository Account Control Agreement in favor of Agent.
Agent agrees that, unless and Event of Default shall have occurred and be continuing, the Credit Parties may withdraw or otherwise use funds in their Depository Accounts and that Agent will not exercise its right to control funds such Depository Account except after the occurrence and during the continuance of an Event of Default.
Schedule 6.22 attached hereto lists each Depository Account of the Credit Parties as of the Closing Date.
No Credit Party shall open or maintain any Depository Account unless such Depository Account is subject to a Depository Account Control Agreement in favor of Agent.

More Definitions of Depository Account

Depository Account. Those “depository” accounts initially established and maintained by the Servicer or an Affiliate thereof pursuant to Section 3.1 of the Servicing Agreement and the Master Agency Agreement, or any successor accounts in the name of and maintained by the Servicer, its Affiliate or any Successor Servicer.

Depository Account means any account of the Client or for the Client with an entity registered as a depository participant as per the relevant regulations in which the securities comprising part of the portfolio of the client are kept by the portfolio manager.

Depository Account means a segregated interest bearing account, in the name of Buyer, established at Depository pursuant to this Agreement.

Depository Account means one or more account or accounts opened, maintained and operated by Portfolio Manager in the name of client or Product (as may be applicable) with any depository or depository participant registered under the SEBI (Depositories and Participants) Regulations 1996.

Depository Account or “DP Account" means one or more demat accounts opened, maintained, and operated by the Portfolio Manager in the name of the Client or a pool demat account in the name of the Portfolio Manager to keep the securities of all clients, where the securities of each of the Clients would be separately identified for the purpose of the Portfolio Management Services.

Depository Account means each depositary account, concentration account or other similar account into which Collections are collected or deposited.

Depository Account means one or more account or accounts opened, maintained and operated by the Portfolio Manager with any depository or depository participant registered