Note Accounts definition
Examples of Note Accounts in a sentence
Note: Accounts will initially be established with web-based online, view-only statement provider, TamLink.
If any Person asserts any lien, encumbrance or adverse claim (including any writ, garnishment, judgment, warrant of attachment, execution or similar process) against the Note Accounts or in any financial asset credited thereto, the Security Agent will promptly notify the Security Agent and the Owner Lessor in writing thereof.
The Security Bank and the Owner Lessor have not entered into any agreement with respect to the Note Accounts or any financial assets credited to the Note Accounts other than this Lease Indenture.
All such amounts shall constitute a part of the Note Accounts Collateral and shall not constitute payment of any Indebtedness or any other obligation of the Owner Lessor until applied as hereinafter provided.
Except as provided in this Lease Indenture, in no event shall any amounts or Cash Equivalent Investments deposited in or credited to the Note Accounts be registered in the name of the Owner Lessor, payable to the order of the Owner Lessor or specially indorsed to the Owner Lessor except to the extent that the foregoing have been specially indorsed to the Security Agent or in blank.
All investment income on amounts deposited to the Lease Funding Account, the Company Account or any Exchange Note Accounts established with respect to any Reference Pool will be reported for U.S. federal income tax purposes as earned by the Titling Trust and will be reported by the Holding Company (or such entity from which the Holding Company may be disregarded as separate for U.S. federal income tax purposes).
The Owner Lessor shall not have any rights against or to monies held in the Note Accounts, as third party beneficiary or otherwise, or any right to direct the Security Agent or the Security Agent to apply or transfer monies in the Note Accounts, except the right to receive or make requisitions of monies held by the Security Agent and to direct investments of monies as provided in Section 3.10 hereof, as provided in this Lease Indenture.
The financial assets standing to the credit of the Lease Indemnitee's Lease Indenture Trustee's Account will not be subject to deduction, set-off, banker's lien, or any other right in favor of any Person other than the Security Agent for the benefit of the Lease Indenture Secured Parties (except for the face amount of any checks which have been credited to the Note Accounts but are subsequently returned unpaid because of uncollected or insufficient funds).
The Note Accounts shall not be evidenced by passbooks or similar writings.
Except for the claims and interest of the Security Agent for the benefit of the Lease Indenture Secured Parties and the Owner Lessor in the Note Accounts, the Security Agent does not know of any claim to, or interest in, the Note Accounts or in any financial asset credited thereto.