Safekeeping Account definition

Safekeeping Account means an account established on the books of the Custodian or any Subcustodian for purposes of segregating the interests of the Fund (or clients of the Custodian or Subcustodian) from the assets of the Custodian or any Subcustodian.

Safekeeping Account means account number in the name of HDSI, LLC at U.S. Bank National Association (including any replacements or renumberings thereof), which has an account balance that does not exceed $12,850,000 as of the date of Closing and which account is pledged as collateral to secure obligations under the Continuing Reimbursement Agreement for Letters of Credit described in Schedule 5.15.

Safekeeping Account means the account in the State Treasury

Examples of Safekeeping Account in a sentence

• The Subject Certificates are subject to the restrictions on transfer set forth in, and shall not be released from the VRR Interest Safekeeping Account except in accordance with, the Agreement.

• Broker shall, upon request of Customer, inform Customer of the amount of any excess Collateral in the Safekeeping Account.

• As to each Safekeeping Account, this Agreement shall terminate: (a) on the effective date of IFTC's or Bank's resignation or termination as custodian or sub-custodian (b) upon the consent by Written Notice of Customer and Broker, or (c) upon thirty (30) days prior written notice by IFTC and Bank to Broker and Customer.

• Amounts due on Assets which mature or are redeemed will be credited to the applicable Safekeeping Account in Federal Funds on the date such amounts are received.

• Withdrawals from the Safekeeping Account shall be effected upon receipt by Bank of Written Notice from Customer and Broker's prior written consent to such withdrawal.

• Upon receipt of such substitute securities and Written Notice of Broker's approval, IFTC shall cause Bank to release from the Safekeeping Account cash or securities of an equal value, or such lesser amount as may be directed by Customer.

• IFTC shall direct Bank to deposit, transfer and maintain assets specified by Customer by Written Notice as Collateral in the Safekeeping Account in an amount sufficient to provide such Margin as shall be required by the Rules and Regulations, and Bank shall provide Broker and IFTC with Written Notice of each such deposit.

• Any and all expenses of establishing, maintaining, or terminating a Safekeeping Account shall be borne by the applicable Customer.

• Upon any termination, all Assets in the Safekeeping Account shall be held by Bank pursuant to the Sub-Custody Agreement.

• As between each Customer and IFTC, the Assets in the Safekeeping Account as collateral for the Margin ("Collateral") and all instructions, deliveries, duties, rights and liabilities of such Customer and IFTC with respect to such Safekeeping Account shall be governed in all respects by the Custody Agreement, except as expressly provided otherwise in this Agreement.

More Definitions of Safekeeping Account

Safekeeping Account means the account in the State Treasury administered by the Treasurer of State for the benefit of other government entities consisting of all securities received by the Treasurer of State from the administrators of the several state retirement systems and other trust accounts;

Safekeeping Account means an account established on the books of BBH&Co. for purposes of segregating the interests of the Customer (or clients of the Customer) from the assets of BBH&Co.

Safekeeping Account means an account maintained by Member at the Bank in order to arrange for, the holding, receipt, delivery, or other disposition of securities on its behalf or on behalf of certain third party pledgees, as agreed to by the Bank (each a “Pledgee”) and designated as a Safekeeping Account.

Safekeeping Account means an account in which Financial Instruments of the Client are recorded by the Bank.