X Account definition

X Account means an exempt securities account with the X/N Clearing System.
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Examples of X Account in a sentence

  • The Class C Certificates shall evidence ownership of the Class X Account for federal tax purposes and the Holders thereof shall direct the Trustee in writing as to the investment of amounts therein.

  • Any funds held in the Class X Account that are not invested shall be held in cash.

  • The Trustee shall account for the Class X Account as an outside reserve fund within the meaning of Treasury regulation 1.860G-2(h) and not an asset of any REMIC created pursuant to this Agreement.

  • The Class X Account shall be an Eligible Account, and funds on deposit therein shall be held separate and apart from, and shall not be commingled with, any other moneys, including, without limitation, other moneys of the Trustee held pursuant to this Agreement.

  • In the absence of such written direction, all funds in the Class X Account shall remain uninvested.

  • No later than the first date on which any NIMS Securities are issued, the Depositor shall deposit a dollar amount into the Class X Account.

  • Any amounts that the Trustee is not required to distribute from the Class X Account pursuant to Section 5.02(e) of this Agreement shall remain on deposit in the Class X Account.

  • Upon termination of the Class X Account, any amounts remaining in the Class X Account shall be distributed to the Holders of the Class C Certificates in the same manner as if distributed pursuant to Section 5.02(e)(1) hereof.

  • Any amounts that the Trustee is not required to distribute from the Class X Account pursuant to Section 5.02(i) of this Agreement shall remain on deposit in the Class X Account.

  • No later than the first date on which any NIMS Securities are issued, the Depositor may deposit a dollar amount into the Class X Account.

Related to X Account

  • Tax Account shall have the meaning set forth in Section 8.6 hereof.

  • AAVS Account means the account to which your Automatic Add Value Service is linked, as defined or specified in the relevant Application Form or such other account as notified to us by the Financial Institution or by the AAVS Account Holder from time to time;

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

  • FT Account Pool #: Mortgagor's Name, Address and Zip Code: Mortgage Loan Number: Reason for Requesting Documents (check one)

  • Investment Account As defined in Section 3.12(a).