FBO Account definition

FBO Account means the special purpose segregated, non-interest bearing pooled account established at the Account Bank in the Account Bank City and which shall never be considered a general deposit account and as such shall not be available for set off by the Account Bank or garnishment by creditors of the Account Bank, such account being entitled “Prosper Funding LLC for the benefit of its lender members” (Account No. _____).
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FBO Account means a deposit account, as defined in Section 9-108 of the UCC, titled “Prosper Funding LLC for the benefit of its lender members,” maintained by the Company at
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FBO Account means the account maintained by the Company at Wells Fargo Bank, National Association, titled “Prosper Funding LLC for the benefit of its lender members”, or such alternate account of the Holder designated by the Trustee in accordance with the Indenture.
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Examples of FBO Account in a sentence

  • No money is transferred from your Groundfloor account (or the Groundfloor Investor FBO Account) at this stage.

  • In the case of an organisation which is not a corporate body, the organisation itself cannot be a member of the SCIO; instead, membership shall be open to an individual nominated by that organisation (where the organisation would qualify for membership under clause 17), but on the basis that no more than one individual nominated by each organisation under this clause 18 can be a member of the SCIO at any given time.

  • As a result, if we became a debtor in a bankruptcy or other similar proceeding, the legal right to administer the funds in the Investor FBO Account would vest with the bankruptcy trustee, debtor in possession or similar representative of the estate.

  • Investors may suffer delays in accessing their funds in the Investor FBO Account as a result.

  • The responsible duties of the Custodian are to report tax information for the IRA to the IRA and to execute orders made by the Account owner.3. Registration: All assets of the Custodial Account shall be registered in the name of the Custodian; “Directed Trust Company FBO (Account Owner Name) (Account Type).4.

  • We believe that amounts funded by investors into the Investor FBO Account are unlikely to be subject to claims of our creditors other than the investors for whose benefit the funds are held, since beneficial ownership of those funds rests with the investors.

  • However, we have legal title to the Investor FBO Account and the attendant right to administer the Investor FBO Account, each of which would be the property of our bankruptcy estate.

  • All prepayments shall be made in U.S. dollars, in immediately available funds, by intra-institution book entry transfer or such other transfer mechanism to the Holder’s sub-account in the Groundfloor Investor FBO Account.

  • Your funds stay in the Investor FBO Account indefinitely unless you takes steps to transfer non-irrevocably committed funds out of your funding account.

  • None of the Company’s corporate funds, or any corporate funds of any of our affiliated companies, are ever held or commingled with the assets of investors in the Investor FBO Account.


More Definitions of FBO Account

FBO Account means any “for the benefit of” accounts held at, and
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FBO Account means a deposit account, as defined in Section 9-108 of the UCC, titled “Prosper Funding LLC for the benefit of its lender members,” maintained by the Company at Xxxxx Fargo Bank, National Association, or such additional or replacement account or accounts as may from time to time be maintained by the Company for the benefit of its lender members, provided any such account is deemed a deposit account under Section 9-108 of the UCC and is held by the Trustee.
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FBO Account means the special purpose segregated, non-interest-bearing account established at the Account Bank in the Account Bank City and which
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FBO Account means a deposit account, as defined in Section 9-108 of the UCC, titled “Prosper Funding LLC for the benefit of its lender members,” maintained by the Company at Wells Fargo Bank, National Association, or such additional or replacement account or accounts as may from time to time be maintained by the Company for the benefit of its lender members, provided any such account is deemed a deposit account under Section 9-108 of the UCC and is held by the Trustee.
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FBO Account means a pooled account maintained by the Company at a financial institution of its choosing to hold funds deposited by Holders and prospective Holders through the Platform Website, for the benefit of such Holders and prospective Holders.
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FBO Account has the meaning set forth in the Recitations. “Fee Payments” has the meaning set forth in the Recitations.
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Related to FBO Account

  • Holding Account means an account:

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • Trading Account means the unique personified register of all completed transactions, open positions, orders and nontrading operations on the trading platform.

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

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

  • Segregated Account means a client bank account as defined by and held in accordance with the Applicable Regulations.

  • Revenue Account means the Revenue Account established pursuant to the Resolution. “Revenues” means the Pledged Receipts and Recoveries of Principal.

  • Settlement Account means an account established at a financial institution designated by Merchant as the account to be credited and debited by the Servicers for Transactions, Card Fees, Chargebacks and other amount assessed by a Card Association and passed- through to Merchant pursuant to the terms of this Agreement.

  • Tax Account shall have the meaning set forth in Section 8.6 hereof.

  • Surplus Account has the meaning assigned to it in Section 3.02(a).

  • Transaction Account means a cash account established and maintained by Repo Custodian for the Funds to effect repurchase transactions pursuant to the Master Agreement.

  • Accumulation Account The account designated as such, established and maintained pursuant to Section 5.01(a)(iii) of the Trust Sale and Servicing Agreement.

  • Subsidy Account If the Trust Estate contains any Subsidy Loans, the deposit account or accounts created and maintained by the Servicer for deposit of Subsidy Funds and amounts payable under interest subsidy agreements relating to mortgage loans other than the Mortgage Loans.

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Collections Account has the meaning given to such term in Section 3.01(a) hereof.

  • Separate Account shall have the respective meanings assigned to such terms in Section 3 of ERISA.

  • Retention Account means an interest bearing Dollar account of the Borrowers opened or (as the context may require) to be opened jointly by the Borrowers with the Account Bank and includes any sub-accounts thereof and any other account designated in writing by the Agent to be a Retention Account for the purposes of this Agreement;

  • Concentration Account has the meaning provided in Section 6.13(c).

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];

  • Sub-Account means any of the individual sub-accounts of a Participant's Separate Account that is maintained as provided in Article VIII.

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

  • Cash Management Account has the meaning set forth in Section 2.7(a).

  • Related Account means an Account with respect to which a new account number has been issued by the applicable Account Owner or the Servicer (a)(i) resulting from a lost or stolen credit or charge card relating to such Account (if such Account is a credit or charge card account) or (ii) under circumstances not requiring the standard application and credit evaluation procedures under the Credit Guidelines applicable to such Account, and (b) that can be traced or identified by reference to or by way of Schedule 1 to this Agreement and the computer or other records of the applicable Account Owner or the Servicer.

  • Special Account means the account referred to in Section 2.02 (b) of this Agreement;

  • Funding Accounts has the meaning assigned to such term in Section 4.01(h).

  • 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.