Put Account definition

Put Account. The separate Eligible Account created and initially maintained by the Supplemental Interest Trustee pursuant to Section 3.05(h).
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Put Account means the deposit account established in the name of IDISB with a financial institution and invested in short term money market instruments and bank certificates of deposits, drawings on which account will require the signature of an authorized representative of each of IDISB and HG Marketing.
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Examples of Put Account in a sentence

  • Upon receipt of the Put Deposit Amount, the Supplemental Interest Trustee shall deposit the Put Deposit Amount into the Put Account.

  • The Supplemental Interest Trust, the Derivative Agreements, the Derivative Accounts, the Put Contract and the Put Account will not constitute any part of any REMIC.

  • Subject to the last sentence of this Section 2.1(d)(iv), IDISB shall establish a reserve to fund the Year One Put Right by transferring $58,333 to the Put Account during each calendar month of 2005, but only for those months in 2005 in which HG Marketing pays IDISB the full amount due under the Outsource Agreement.

  • IDI shall establish a reserve to fund the Year Two Put Right by transferring $91,666 to the Put Account during each calendar month of 2006, but only for those months in 2006 in which HG Marketing pays IDISB the full amount due under the Outsource Agreement.