Establishment of an Escrow Account Sample Clauses

Establishment of an Escrow Account. The Cooperating Respondents shall establish an escrow account for the deposit of monies to satisfy the Cooperating Respondent’s payment obligations under this Agreement. The escrow account shall be established pursuant to the Escrow Agreement attached as Exhibit G hereto (the “Escrow Agreement”). All escrow account funds shall bear interest as provided in the Escrow Agreement.
Sample 1
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Establishment of an Escrow Account. For the purpose of insuring the availability of funds for the long term maintenance and/or replacement/reconstruction of the SCMs, an escrow account must be established, which can be spent solely for that purpose. Maintenance activities include, but are not limited to, sediment removal, and structural, biological or vegetative replacement, major repairs, or reconstruction. If the SCMs are not performing adequately or as intended or are not properly maintained, the TOWN in its sole discretion, may remedy the situation, and in such instances, the TOWN shall be fully reimbursed from the escrow account. Escrowed funds may be spent by the DEVELOPER, ASSOCIATION or ASSOCIATIONS’s successor for allowable expenses, provided that the TOWN shall first consent to the expenditure. Escrowed funds shall not be spent for routine landscaping maintenance items such as mowing. The escrow account will be funded initially by a lump sum contribution of the DEVELOPER (the “Initial Payment”), and thereafter by annual sinking funds paid by the ASSOCIATION, if it has taken ownership or by the DEVELOPER if it still retains ownership of the SCMs. The DEVELOPER shall deposit the Initial Payment in the escrow account and show proof of such payment:
Sample 1
Establishment of an Escrow Account. Escrow Agent will establish and maintain an account into which the Escrow Assets are to be deposited and maintained (the “Escrow Account”). The Escrow Account is established for the purpose of satisfying certain obligations of Agent and Lenders pursuant to the Note.
Sample 1
Establishment of an Escrow Account. By execution of this Agreement the parties establish an interest bearing Escrow Account entitled Heritage Bank of Commerce, Escrow Agent UTC Procera Networks, Inc. Escrow No. 161888 (the “Escrow Account”). All funds deposited in the Escrow Account shall be held in trust for the benefit of the parties entitled thereto pursuant to the terms of this Agreement.
Sample 1
Establishment of an Escrow Account. By execution of this Escrow Agreement parties establish an interest-bearing Escrow Account entitled First Security Bank/AeroCentury Fund IV Escrow Account, (the Escrow Account"). All funds deposited in the Escrow Account shall be held in trust for the benefit of the parties entitled thereto pursuant to the terms of this Escrow Agreement.
Sample 1
Establishment of an Escrow Account. For the purpose of insuring the availability of funds for the long term maintenance and/or replacement/reconstruction of the SCMs, an escrow account must be established, which can be spent solely for that purpose. Maintenance activities include, but are not limited to, sediment removal, and structural, biological or vegetative replacement, major repairs, or reconstruction. If the SCMs are not performing adequately or as intended or are not properly maintained, the TOWN in its sole discretion, may remedy the situation, and in such instances, the TOWN shall be fully reimbursed from the escrow account. Escrowed funds may be spent by the DEVELOPER, ASSOCIATION or ASSOCIATIONS’s successor for allowable expenses, provided that the TOWN shall first consent to the expenditure. Escrowed funds shall not be spent for routine landscaping maintenance items such as mowing. The escrow account will be funded initially by a lump sum contribution of the DEVELOPER (the “Initial Payment”), and thereafter by annual sinking funds paid by the ASSOCIATION, if it has taken ownership or by the DEVELOPER if it still retains ownership of the SCMs. The DEVELOPER shall deposit the Initial Payment in the escrow account and show proof of such payment: Prior to plat recordation of the PROPERTY; or Before the issuance of building permits for the construction of improvements on the PROPERTY. Whichever occurs first. The Initial Payment shall be equal to $ ________ dollars (which is equal to fifteen percent (15%) of the initial construction costs of the SCMs). The total sinking fund budget is defined as the amount required for the initial construction cost of the SCMs. The ASSOCIATION shall deposit funds at least annually in equal installments into the escrow account such that at least two-thirds (2/3) of the total amount of the sinking fund budget, as set in the ORDINANCES, shall be deposited into the escrow account within the first five (5) years and the full amount shall be deposited within ten (10) years following initial construction of the SCMs. A portion of the annual assessments of the ASSOCIATION shall include an allocation into the escrow account. Any funds drawn down from the escrow account shall be replaced in accordance with the schedule of anticipated work used to create the sinking fund budget.
Sample 1

Related to Establishment of an Escrow Account

  • Establishment of and Deposits to Escrow Account The Company shall segregate and hold all funds collected and received pursuant to a Mortgage Loan constituting Escrow Payments separate and apart from any of its own funds and general assets and shall establish and maintain one or more Escrow Accounts, in the form of time deposit or demand accounts, titled, "National City Mortgage Corp., in trust for the Purchaser of Conventional Residential Fixed Rate Mortgage Loans, Group No. 2001-1 and various Mortgagors". The Escrow Accounts shall be established with a Qualified Depository, in a manner which shall provide maximum available insurance thereunder. Funds deposited in the Escrow Account may be drawn on by the Company in accordance with Section 4.07. The creation of any Escrow Account shall be evidenced by a certification in the form of Exhibit E-1 hereto, in the case of an account established with the Company, or by a letter agreement in the form of Exhibit E-2 hereto, in the case of an account held by a depository other than the Company. A copy of such certification shall be furnished to the Purchaser and, upon request, to any subsequent Purchaser. The Company shall deposit in the Escrow Account or Accounts on a daily basis, and retain therein:

  • Establishment of Reserve Account Pledgor and Secured Party hereby authorize and direct Securities Intermediary to establish and maintain in its corporate trust department, a segregated trust account that is an Eligible Deposit Account and that is a “securities account” as that term is defined in Section 8-501(a) of the UCC in the name of Secured Party and under the sole dominion and control of Secured Party, designated as “Toyota Auto Receivables 20[__]-[_] Owner Trust Reserve Account.” Securities Intermediary hereby undertakes to treat Secured Party as the person entitled to exercise the rights that comprise any Financial Asset credited to the Reserve Account. Secured Party and Pledgor agree that this account shall be the Reserve Account.

  • Establishment of Escrow Account; Deposits in Escrow Account With respect to those Mortgage Loans on which the Servicer or any Sub-Servicer collects Escrow Payments, if any, the Servicer shall, and shall cause the Sub-Servicer to, segregate and hold all funds collected and received pursuant to each such Mortgage Loan which constitute Escrow Payments separate and apart from any of its own funds and general assets and shall establish and maintain one or more Escrow Accounts, in the form of trust accounts. Such Escrow Accounts shall be established with a commercial bank, a mutual savings bank or a savings and loan association the deposits of which are insured by the FDIC in a manner which shall provide maximum available insurance thereunder, and which may be drawn on by the Servicer. The Servicer shall give notice to the Trustee of the location of any Escrow Account, and of any change thereof, prior to the use thereof. Nothing in this paragraph shall be deemed to require the Servicer to collect Escrow Payments in the absence of a provision in the related Mortgage requiring such collection. The Servicer shall deposit, or cause to be deposited, in any Escrow Account or Accounts on a daily basis, and retain therein, (i) all Escrow Payments collected on account of any Mortgage Loans, for the purpose of effecting timely payment of any such items as required under the terms of this Agreement and (ii) all amounts representing proceeds of any hazard insurance policy which are to be applied to the restoration or repair of any Mortgaged Property. The Servicer shall make withdrawals therefrom only to effect such payments as are required under this Agreement, and for such other purposes as are set forth in Section 5.11. The Servicer shall be entitled to retain any interest paid on funds deposited in the Escrow Account by the depository institution other than interest on escrowed funds required by law to be paid to the related Mortgagor and, to the extent required by law, the Servicer shall pay interest on escrowed funds to the related Mortgagor notwithstanding that the Escrow Account is non-interest-bearing or that interest paid thereon is insufficient for such purposes.

  • Establishment of and Deposits to Custodial Account The Company shall segregate and hold all funds collected and received pursuant to a Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts, in the form of time deposit or demand accounts, titled "Countrywide Home Loans Inc. in trust for the Purchaser of Conventional Residential Conventional Residential Mortgage Loans, and various Mortgagors". The Custodial Account shall be established with a Qualified Depository. Any funds deposited in the Custodial Account shall at all times be fully insured to the full extent permitted under applicable law. Funds deposited in the Custodial Account may be drawn on by the Company in accordance with Section 4.05. The creation of any Custodial Account shall be evidenced by a certification in the form of Exhibit D-1 hereto, in the case of an account established with the Company, or by a letter agreement in the form of Exhibit D-2 hereto, in the case of an account held by a depository other than the Company. A copy of such certification or letter agreement shall be furnished to the Purchaser and, upon request, to any subsequent Purchaser. The Company shall deposit in the Custodial Account within two Business Days of receipt, and retain therein, the following collections received by the Company and payments made by the Company after the related Cut-off Date, (other than payments of principal and interest due on or before the related Cut-off Date, or received by the Company prior to the related Cut-off Date but allocable to a period subsequent thereto or with respect to each LPMI Loan, in the amount of the LPMI Fee):

  • Establishment of Escrow Accounts; Deposits in Escrow Accounts The Seller shall segregate and hold all funds collected and received pursuant to each Mortgage Loan which constitute Escrow Payments separate and apart from any of its own funds and general assets and shall establish and maintain one or more Escrow Accounts, in the form of time deposit or demand accounts. The creation of any Escrow Account shall be evidenced by Escrow Account Letter Agreement in the form of Exhibit 8.

  • Establishment of Escrow Account Prior to the Issuer initiating the Offering, and prior to the receipt of the first Subscriber funds, Escrow Agent shall establish an account for the Issuer (the “Escrow Account”). All parties agree to maintain the Escrow Account and Escrow Amount (as defined below) in a manner that is compliant with applicable banking and securities regulations. Escrow Agent shall be the sole administrator of the Escrow Account.

  • Establishment of Account (a) The Fund hereby appoints the Custodian as the custodian of all Securities and cash at any time delivered to the Custodian to be held under this Agreement. The Custodian hereby accepts such appointment and agrees to establish and maintain one or more accounts for each Series in which the Custodian will hold Securities and cash as provided herein. Such accounts (each, an “Account,” and collectively, the “Accounts”) shall be in the name of the Fund and Series, if any.

  • Establishment of Custodial Account; Deposits in Custodial Account The Seller shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts (collectively, the “Custodial Account”), titled “PrimeLending, in trust for Redwood Residential Acquisition Corporation as Purchaser of Mortgage Loans and various Mortgagors.” Such Custodial Account shall be an Eligible Account established with a commercial bank, a savings bank or a savings and loan association (which may be a depository affiliate of the Seller) which meets the guidelines set forth by the FHFA, Fxxxxx Mxx or Fxxxxxx Mac as an eligible depository institution for custodial accounts. The Custodial Account shall not be transferred to any other depository institution without the Purchaser’s approval, which shall not unreasonably be withheld. In any case, the Custodial Account shall be insured by the FDIC in a manner which shall provide maximum available insurance thereunder and which may be drawn on by the Seller. The Seller shall deposit in the Custodial Account on a daily basis, and retain therein the following payments and collections received or made by it subsequent to the related Cut-off Date (other than in respect of principal and interest on the Mortgage Loans due on or before the related Cut-off Date):

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