LIP Account definition

LIP Account means a segregated trust or custodial account established and maintained with an Eligible Institution for the sole purpose of holding and distributing the LIP Funds.
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LIP Account shall have the meaning assigned thereto in the Participation and Servicing Agreement.
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LIP Account shall have the meaning assigned thereto in the Participation Agreement. “Litigation Reserve Account” shall have the meaning assigned thereto in the Participation Agreement.
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Examples of LIP Account in a sentence

  • The Company shall, and hereby is authorized to, establish and maintain or cause to be established and maintained the LIP Account in accordance with the Participation and Servicing Agreement, and the funds deposited therein shall be disbursed and used solely as provided therein.

  • The Company shall establish and, until such time as the Servicer is retained, maintain and, thereafter, cause the Servicer to maintain the LIP Account, held in trust for the benefit of Participant and the Company.

  • As provided in Section 4.03(c), the Company shall cause Authorized Funding Draws to be disbursed from the LIP Account (i) as and when requested by or on behalf of the Borrower in accordance with the Loan Documents, and (ii) to reimburse the Receiver for Authorized Funding Draws made by the Receiver at any time after the Cut-Off Date and on or before the Servicing Transfer Date.

  • The Company shall, and hereby is authorized to, cause to be established and maintained the LIP Account in accordance with the Participation Agreement, and the funds deposited therein shall be disbursed and used solely as provided therein.

  • Id.According to paragraph 5 of the Loan Agreement, Century Bank funded the Loan by placing its net proceeds in a "Loan in Process" account ("LIP Account").

  • In accordance with paragraph 10(a) of the Agent Check Agreement, Century Bank reimbursed Travelers for the full amount of the Loan Disbursement Checks from Century Bank’s LIP Account.

  • The LIP Account was funded with Century Bank funds, and Century Bank was the sole drawer on the LIP Account.

  • No funds from any other source (other than interest or earnings on the LIP Funds) shall be commingled in the LIP Account.

  • Century Bank used the LIP Account as an internal account to fund the Loan.

  • Century Bank alleges that Beaty had no right to or interest in the LIP Account, or the funds held in the LIP Account while they were in the LIP Account.


More Definitions of LIP Account

LIP Account means an Eligible Account established and maintained with an Eligible Institution for the sole purpose of holding and distributing the LIP Funds.
Sample 1Sample 2
LIP Account has the meaning given in the Participation Agreement.
Sample 1Sample 2
LIP Account has the meaning given in the Participation Agreement. “LLC Interest” has the meaning given in the recitals.
Sample 1Sample 2

Related to LIP Account

  • Rollover Contribution Account means the separate Account maintained for a Member to record such Member's share of the Trust Fund attributable to any Rollover Contribution made to the Plan on his behalf.

  • Contribution Account means an account, or accounts, into which the Accountholder and employer contributions are deposited by the TPA, and from which HSA dollars are swept into the Cash Account.

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

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • 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.

  • Matching Contribution Account means the separate, individual account established on behalf of a Participant to which the Matching Contributions made on such Participant's behalf are credited, together with all earnings and appreciation thereon, and against which are charged any withdrawals, loans and other distributions made from such account and any losses, depreciation or expenses allocable to amounts credited to such account.

  • Matching Account means the account maintained on the books of the Employer for the purpose of accounting for the Matching Amount and for the amount of investment return credited thereto for each Participant pursuant to Article V.

  • Deferral Account means the Company's accounting of the Director's accumulated Deferrals plus accrued interest.

  • Deferred Account means the participant's Deferred Pension Account, Deferred Dividends Account, Deferred Retainer Account, Deferred Fees Account, Deferred Cash Account and/or Deferred Stock Account.

  • 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.

  • ESOP Account means a Participant’s account to which are credited Matching Contributions made to the Plan after March 31, 1989, and earnings and losses thereon.

  • Company Matching Account means (i) the sum of all of a Participant's Annual Company Matching Amounts, plus (ii) amounts credited in accordance with all the applicable crediting provisions of this Plan that relate to the Participant's Company Matching Account, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant's Company Matching Account.

  • Rollover Account means the account established hereunder to which amounts transferred from a qualified plan or individual retirement account in accordance with Section 4.6 are allocated.

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

  • Distribution Accounts Collectively, the Upper-Tier REMIC Distribution Account, the Lower-Tier REMIC Distribution Account, the Excess Interest Distribution Account (and in each case any subaccount thereof), all of which may be subaccounts of a single Eligible Account.

  • Transfer Account means the account established hereunder to which amounts transferred to this Plan from a direct plan-to-plan transfer in accordance with Section 4.7 are allocated.

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

  • Employer Account The Participant's Matching 401(k) Contributions Account, Matching Thrift Contributions Account, Employer Contributions Account, Qualified Matching Contributions Account and Qualified Nonelective Contributions Account, as the case may be.

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

  • Payroll Deduction Account means the bookkeeping account established for a Participant in accordance with Section 6.

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

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

  • Retirement Accounts has the meaning ascribed thereto in Section 2.1(F)(7) hereof.

  • Profit Sharing Account means any one of the accounts so designated and provided for in Section 6.01.

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

  • User Account means an account under the name of the Customer in relation to the Service subscribed by the Customer.