QEF Account definition

QEF Account means an escrow account consisting of segregated sub-accounts for each Beneficiary State established by the Company and maintained by the Escrow Agent into which the deposits required under the applicable NPM Statute are made.
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Examples of QEF Account in a sentence

  • From time to time the Company shall tender to the Escrow Agent for deposit in the QEF Account the funds that the Company is required to place into a Qualified Escrow Fund pursuant to the NPM Statute of each Beneficiary State.

  • Upon the effective date of its resignation or removal, the Escrow Agent shall deliver the escrow funds held hereunder only to such successor escrow agent directed by the written instructions of the Company, and shall provide written notice of the delivery of the escrow funds in the QEF Account to all of the Attorneys General of the Beneficiary States covered by this Escrow Agreement.

  • In addition, the court to which funds in the QEF Account have been tendered may order such funds held by the State Treasurer of the underlying Beneficiary State if consented to by that Beneficiary State.

  • Subject to the limitation found in Section 5 herein, fees, costs and expenses may be paid from interest or other appreciation earned on funds held in the QEF Account, but the QEF Principal in all QEF Sub-Accounts shall not be charged, used as an offset or otherwise encumbered by the Escrow Agent or the Company.

  • The recipient of any of the Company’s rights to the funds in the QEF Account or the earnings thereon is a successor of the Company under Section 14 as to those rights and their attendant obligations under this Escrow Agreement and the applicable NPM Statute, rendering both the Company and transferee jointly obligated to comply with the relevant portions of this Escrow Agreement and the applicable NPM Statute.

  • Subject to the limitation found in Section 5 herein, fees, costs and expenses may be paid from interest earned on funds held in the QEF Account, but the QEF Principal in all QEF Sub-Accounts shall not be charged, used as an offset or otherwise encumbered by the Escrow Agent or the Company.

  • When an Escrow Agent resigns or is removed, the Company shall execute a new Escrow Agreement with the new Escrow Agent Upon the effective date of its resignation or removal, the Escrow Agent shall deliver the escrow funds held hereunder only to such successor escrow agent directed by the written instructions of the Company, and shall provide written notice of the delivery of the escrow funds in the QEF Account to all of the Attorneys General of the Beneficiary States covered by this Escrow Agreement.

  • Subject to the limitation found in Section 5 herein, fees, costs and expenses my be paid from interest or other appreciation earned on funds held in the QEF Account, but the QEF Principal in all QEF Sub-Accounts shall not be charged, used as an offset or otherwise encumbered by the Escrow Agent or the Company.

Related to QEF Account

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

  • Interest Collection Subaccount The meaning specified in Section 10.2(a).

  • Principal Funding Account shall have the meaning specified in subsection 4.03(a)(i).

  • Principal Funding Account Balance means, with respect to any date of determination during the Controlled Accumulation Period, the principal amount, if any, on deposit in the Principal Funding Account on such date of determination.

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

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

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

  • Interest Collection Account A Securities Account created and maintained on the books and records of the Securities Intermediary entitled “Interest Collection Account” in the name of the Borrower and subject to the prior Lien of the Collateral Agent for the benefit of the Secured Parties.

  • Servicing Account The account or accounts created and maintained pursuant to Section 3.09.

  • 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.

  • Custodial Account The separate account or accounts created and maintained pursuant to Section 4.04.

  • Principal Accumulation Account Balance means, for any date of determination, the principal amount, if any, on deposit in the Principal Accumulation Account on such date of determination.

  • Sub-Servicing Account An account established by a Sub-Servicer which meets the requirements set forth in Section 3.08 and is otherwise acceptable to the Master Servicer.

  • Force Account means the use of the Recipient's own employees, equipment, or resources for the Project.

  • Disbursement Account means any Deposit Account maintained by Borrower with a financial institution for the purpose of receiving and disbursing the proceeds of Loans made pursuant hereto.

  • Note Account As defined in the Indenture.

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

  • Debt Service Account means the Debt Service Account for General Obligation Temporary Notes, Series 2017-1 (within the Bond and Interest Fund) created pursuant to Section 501 hereof.

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

  • Voluntary Contribution Account means the account established and maintained by the Administrator for each Participant with respect to his total interest in the Plan resulting from the Participant's nondeductible voluntary contributions made pursuant to Section 4.12.

  • Administration Account As defined in Section 7.02.

  • Whole Loan Custodial Account means the “Whole Loan Custodial Account” established for the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement.

  • Reserve Account means the account designated as such, established and maintained pursuant to Section 5.07.

  • Interest Funding Account means the trust account designated as such and established pursuant to Section 5.01(a).

  • Principal Account as set forth in the Standard Terms and Conditions of Trust shall be replaced with the term "Capital Account."