Examples of Subject Accounts in a sentence
It is intended that the first priority security interest of the Secured Party in the Subject Accounts be perfected by control of the Subject Accounts under Sections 8-106(d)(2), 9-106(a) and 9-314(a) of the UCC.
Additionally, the Securities Intermediary shall not agree with any third party (other than the Secured Party) that the Securities Intermediary will comply with orders originated by such third party concerning the Subject Accounts.
Policies and programs meant to alleviate poverty and reduce vulnerability to risks must be instituted by the state.
The Securities Intermediary does not have and shall not have in the future, any security interest, lien or right of setoff on or against the Subject Accounts.
The parties hereto are entering into this Agreement to perfect the Secured Party’s security interest in the Subject Accounts by “control,” within the meaning of Articles 8 and 9 of the Uniform Commercial Code as in effect in the State of New York (the “UCC”).
The Servicer is hereby authorized to (i) direct the withdrawal of funds from the Subject Accounts to make distributions in accordance with the Sale and Servicing Agreement and the Indenture and (ii) direct the transfer or redemption of any financial asset relating to the Subject Accounts, in each case until and unless such authorization is revoked in writing by the Secured Party.
The Securities Intermediary shall promptly notify the Secured Party, the Servicer and the Issuer if any other person claims that it has a property interest in the Subject Accounts or that it is a violation of such person’s rights for anyone else to hold, transfer or deal with the Subject Accounts.
To the extent that the Subject Accounts, or any agreements between the Securities Intermediary, the Servicer and the Issuer with respect to the Subject Accounts, are at any time governed by laws other than the laws of the State of New York, the parties hereto do not consent to the new governing law for the purposes of Article 7 of the Hague Securities Convention.
During each Cash Dominion Period, the ledger balance in each Subject Account shall be (and Agent may cause such Subject Accounts to be) swept to the main Dominion Account as of the end of each Business Day, and the main Dominion Account as of the end of a Business Day shall be applied to the Obligations at the beginning of the next Business Day.
Use Bank of America or Agent as its primary depository institution for all purposes, including the maintenance of all collection accounts including the Subject Accounts, lockbox administration, funds transfer, information reporting services and other treasury management services, provided that this section shall not be interpreted in any manner to prohibit other Credit Facilities permitted under Section 10.2.2.