Security Account definition

Security Account. “Software”, “Supporting Obligations” and “Uncertificated Securities”.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Security Account means (i) a reinvestment account associated with a security, a securities account with a broker, a cash balance in a brokerage account, cash, interest, earnings, or dividends earned or declared on a security in an account, a reinvestment account, or a brokerage account, whether or not credited to the account before the owner's death, or (ii) a cash balance or other property held for or due to the owner of a security as a replacement for or product of an account security, whether or not credited to the account before the owner's death.

Security Account means (i) a reinvestment account associated with a

Examples of Security Account in a sentence

• The expected Security Costs shall be included in the District’s annual budget, as provided in Section 4.7, but shall not exceed the Annual Security Account Deposit.

• The Agency shall use reasonable efforts to cause the institutions at which the Project Operating Account and/or the Security Account are maintained to provide duplicate Statements of Account to the Redeveloper at such times as such statements are provided to the Agency.

• If District Sales Tax Revenues are not sufficient to fund the Annual Security Account Deposit in any given year, such unfunded amount shall be paid in the next succeeding year when District Sales Tax Revenues are sufficient.

• In its holding of the Deposit and/or the Security Deposit, and its maintenance of the Project Operating Account and the Security Account, the Agency shall have and exercise the obligations of a fiduciary to the Redeveloper and shall hold in trust any and all monies deposited with it, to be used only in the manner and for the purposes set forth in this Agreement.

• Such initial quarterly budget shall show the balance on deposit in the Project Operating Account and the Security Account, the projected expenditures for the coming quarter in reasonable detail by separate line items, and the projected amount, if any, of additional funding which will be required to permit the Agency to pay such expenditures.

More Definitions of Security Account

Security Account means any of the following:

Security Account. , "Software", and "Supporting Obligations".

Security Account. As defined in the MLCC Servicing Agreement.

Security Account means such account as opened by the Security Trustee in its name at any bank as chosen by the Security Trustee, to which account payments from Borrowers and any other relevant debtor shall be directed upon notification as referred to in Clause 6.3 of the Security Trustee Receivables Pledge Agreement and/or the withdrawal of power to collect pursuant to Clause 6.2 of the Security Trustee Rights Pledge Agreement.

Security Account means an interest-bearing account with a Licensed Bank.

Security Account shall have the meaning set forth in Section 5(d) below.

Security Account means a “Security Account” as such term is defined in accordance with the UCC in effect in the State of New York from time to time.