Eligible Trust Account definition

Eligible Trust Account means a segregated account with the corporate trust department of the Trustee, or the Indenture Trustee if Notes are issued, which is identified and held separate and apart from the general assets of the Trustee, or the Indenture Trustee, if applicable, and which contains only property held by the Trustee (or Indenture Trustee, if applicable) as fiduciary, of a trust company or corporation with trust powers organized under the laws of the United States of America or any one of the states thereof or the District of Columbia (or any domestic branch of a foreign bank), having corporate trust powers and acting as trustee for funds deposited in such account, so long as any of the securities of such depository institution shall have a credit rating from each Rating Agency in one of its generic rating categories which signifies investment grade or such higher rating as may be specified in the Forepart.
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Eligible Trust Account means a segregated account with (a) the corporate trust department of the Trustee or (b) a trust company or corporation with trust powers organized under the laws of the United States of America or any one of the states thereof or the District of Columbia (or any domestic branch of a foreign bank), having corporate trust powers and acting as trustee for funds deposited in such account, so long as any of the securities of such depository institution shall have a credit rating from each Rating Agency in one of its four highest rating categories, and in the case of each of clauses (a) and (b) that is identified and held separate and apart from the general assets of the Trustee, and that contains only property held by the Trustee as fiduciary.
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Eligible Trust Account means a segregated account with the corporate trust department of the Trustee, which is identified and held separate and apart from the general assets of the Trustee, and which contains only property held by the Trustee as fiduciary, of a trust company or corporation with trust powers organized under the laws of the United States of America or any one of the states thereof or the District of Columbia (or any domestic branch of a foreign bank), having corporate trust powers and acting as trustee for funds deposited in such account, so long as any of the securities of such depository institution shall have a credit rating from each Rating Agency in one of its generic rating categories which signifies investment grade or such higher rating as may be specified in the Forepart.
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Examples of Eligible Trust Account in a sentence

  • A person that intentionally makes a false statement, misrepresentation, or false certification in a record filed or required to be maintained under this [Act] or that intentionally makes a false entry or omits a material entry in such a record is guilty of a [reference to state classification] felony.

  • Except as otherwise provided in this Agreement, in the event that the Collection Account maintained with the Securities Intermediary is no longer an Eligible Deposit Account, then the Servicer shall, with the Indenture Trustee and Securities Intermediary’s assistance, as necessary, use reasonable efforts to cause the Collection Account to be moved to an Eligible Institution or Eligible Trust Account Institution within thirty (30) days.

  • You further represent and agree that if any claim is prosecuted in your name before any court or administrative agency, then, to the extent permissible under applicable law, you hereby waive and agree not to take any award or other damages from such suit.

  • If at any time the institution maintaining the Collection Account ceases to be an Eligible Institution or an Eligible Trust Account Institution, the Securities Intermediary and the Indenture Trustee will, or will cooperate with the Servicer to, as applicable, cause the Collection Account to be moved to an Eligible Institution or Eligible Trust Account Institution within thirty (30) days (or such longer period in respect of which the Rating Agency Condition shall have been satisfied).

  • Customer represents and warrants that (v) all information provided to MaxMD for the purposes of establishing and maintaining the Service is accurate.

  • Except as otherwise provided in Section 4.3, assets in the Trust Account shall be valued according to their then-current Book Value, including accrued interest, and shall consist only of Eligible Trust Account Assets.

  • On the Closing Date, the Reinsurer shall deposit into the Trust Account Eligible Trust Account Assets with a Book Value (and Fair Market Value no less than Book Value) equal, in the aggregate, to (i) the excess of the estimated Required Balance as of the Closing Date over the Initial Net Settlement Amount minus (ii) the Retrocession Trust Account Balance (if applicable and if any) as of the Closing Date.

  • Kiosk to be located so the hose reel has a straight run to the point of work i.e. does not snag on plant/equipment on site.

  • Such collateral shall be provided in the form of Eligible Letters of Credit or an Eligible Trust Account or any combination thereof.

  • Following the date hereof, within the later of thirty (30) calendar days after the end of the applicable calendar quarter or month or fifteen (15) Business Days after the Reinsurer receives the Required Balance Report corresponding to the end of the applicable calendar quarter or month, the Reinsurer shall certify in writing to the Company that all the assets held in the Trust Account as at the end of the applicable calendar quarter or month are Eligible Trust Account Assets.


More Definitions of Eligible Trust Account

Eligible Trust Account a trust account established and maintained by the Retrocessionaire for the benefit of the Company with a U.S. bank acceptable to the Company (which acceptance shall not be unreasonably withheld) serving as the trustee pursuant to a trust agreement which is in the form and substance necessary to allow the Company to take statutory financial statement credit in respect of the reinsurance provided by this Agreement on its statutory financial statements in every jurisdiction in which the Company is licensed or otherwise approved to transact, or transacts, business and which requires security in order for such statutory financial statement credit to be taken by the Company.
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Related to Eligible Trust Account

  • Eligible Trust means - (i) a trust created by or in pursuance of the provisions of any law which is for the time being in force in any State, or (ii) a trust, the properties of which are vested in a treasurer under the Charitable Endowments Act 1890 (Act 6 of 1890), or (iii) a religious or charitable trust which is administered or controlled or supervised by or under the provisions of any law, which is for the time being in force relating to religious or charitable trusts or, (iv) any other trust, being an irrevocable trust, which has been created for the purpose of or in connection with the endowment of any property or properties for the benefit or use of the public or any section thereof, or (v) a trust created by a will which is valid and has become effective, or (vi) any other trust, being an irrevocable trust, which has been created by an instrument in writing and includes `depository' within the meaning of Clause(e) of Sub-section (1) of Section 2 of The Depository Act, 1996;

  • Trust Accounts has the meaning assigned thereto in Section 5.1.

  • Trust Account means the trust account established by the Company upon the consummation of its IPO and into which a certain amount of the net proceeds of the IPO, together with a certain amount of the proceeds of a private placement of warrants simultaneously with the closing date of the IPO, will be deposited.

  • the Trust Fund means the Bond(s) referred to in the First Schedule to the Declaration of Trust and the property from time to time representing the same (and also includes any other property which may become Trust Property as a result of any loan to the Trustees or any addition by way of gift or any accumulation of income).

  • Investment Account As defined in Section 3.12(a).

  • Trust Account Property means the Trust Accounts, all amounts and investments held from time to time in any Trust Account (whether in the form of deposit accounts, Physical Property, book-entry securities, uncertificated securities or otherwise), and all proceeds of the foregoing.

  • Eligible Deposit Account means either (a) a segregated account with an Eligible Institution or (b) a segregated trust account with the corporate trust department of a depository institution organized under the laws of the United States of America or any one of the states thereof or the District of Columbia (or any domestic branch of a foreign bank), having corporate trust powers and acting as trustee for funds deposited in such account, so long as any of the securities of such depository institution shall have a credit rating from each Rating Agency in one of its generic rating categories that signifies investment grade.

  • Individual retirement account means a trust, custodial arrangement, or annuity under Section 408(a) or (b), Internal Revenue Code of 1954 (26 U.S.C. Section 408 (1986)).

  • Applicable Trust Has the meaning specified in the recitals hereto.

  • Retirement Account means any retirement or pension fund or account, listed in Iowa Code section 627.6(8)“f” as exempt from execution, regardless of the amount of contribution, the interest generated, or the total amount in the fund or account.

  • Eligible Account Any of (i) an account or accounts maintained with a federal or state chartered depository institution or trust company the short-term unsecured debt obligations of which (or, in the case of a depository institution or trust company that is the principal subsidiary of a holding company, the debt obligations of such holding company) have the highest short-term ratings of each Rating Agency at the time any amounts are held on deposit therein, or (ii) an account or accounts in a depository institution or trust company in which such accounts are insured by the FDIC or the SAIF (to the limits established by the FDIC or the SAIF, as applicable) and the uninsured deposits in which accounts are otherwise secured such that, as evidenced by an Opinion of Counsel delivered to the Trustee and to each Rating Agency, the Certificateholders have a claim with respect to the funds in such account or a perfected first priority security interest against any collateral (which shall be limited to Permitted Investments) securing such funds that is superior to claims of any other depositors or creditors of the depository institution or trust company in which such account is maintained, or (iii) a trust account or accounts maintained with (a) the trust department of a federal or state chartered depository institution or (b) a trust company, acting in its fiduciary capacity or (iv) any other account acceptable to each Rating Agency. Eligible Accounts may bear interest, and may include, if otherwise qualified under this definition, accounts maintained with the Trustee.

  • Note Distribution Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • Note Account As defined in the Indenture.

  • Eligible Investment means any investment that at the time of its acquisition is one or more of the following:

  • Certificate Distribution Account has the meaning assigned to such term in the Trust Agreement.

  • FT Account Pool #: Mortgagor's Name, Address and Zip Code: Mortgage Loan Number: Reason for Requesting Documents (check one)

  • Qualified Account means either (a) a segregated account (including a securities account) with a Qualified Institution or (b) a segregated trust account with the corporate trust department of a depository institution organized under the laws of the United States of America or any one of the States thereof or the District of Columbia (or any domestic branch of a foreign bank), having corporate trust powers and acting as trustee for funds deposited in such account, so long as any of the securities of such depository institution shall have a credit rating from each Note Rating Agency in one of its generic rating categories which signifies investment grade.

  • Payment Account means a segregated non-interest-bearing corporate trust account maintained by the Property Trustee for the benefit of the Holders in which all amounts paid in respect of the Notes will be held and from which the Property Trustee, through the Paying Agent, shall make payments to the Holders in accordance with Sections 3.1, 4.1 and 4.2.

  • Servicer Account means any account established by Servicer in connection with the servicing of the Mortgage Loans.

  • Company Contribution Account means (i) the sum of the Participant’s Company Contribution Amounts, plus (ii) amounts credited or debited to the Participant’s Company Contribution Account in accordance with this Plan, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant’s Company Contribution Account.

  • Distribution Account means the Bank Account (which may be a current, saving or deposit account) maintained by the Trustee with a Bank as directed by the Management Company in which the amount required for distribution of income to the Unit Holder(s) shall be transferred. Interest, income or profit, if any, including those accruing on unclaimed dividends, in this account shall be transferred to the main account of the Fund from time to time, as part of the Trust Property for the benefit of the Unit Holder(s).

  • Interest Account means the Account within the Debt Service Fund so designated and established by Article V hereof.

  • Administration Account As defined in Section 7.02.

  • Direct Account : means any Account which is not an ISA Account.

  • Principal Distribution Account means the account by that name established and maintained pursuant to Section 4.1 of the Sale and Servicing Agreement.

  • Pre-Funding Account means the account designated as the Pre-Funding Account in, and which is established and maintained pursuant to Section 7.07.