Definition of Term Account

  1. Term Account means, for any Term Institution, the securities account in the name of the Issuer maintained by such Term Institution during the Term Period, if any, and under the sole control and dominion of such Term Institution, to secure the Issuer's obligation to repay the Term Deposit made by such Term Institution.

Examples of Term Account in a sentence

  1. A Specified Date Account may be identified in enrollment materials as an In-Service Account or Short-Term Account or such other name as established by the Committee without affecting the meaning thereof.

Definition of Term Account in Agreement

Term Account means, for any Term Institution, the securities account in the name of the Issuer maintained by such Term Institution during the Term Period, if any, and under the sole control and dominion of such Term Institution, to secure the Issuer's obligation to repay the Term Deposit made by such Term Institution.