Xxxxx Accounts Sample Clauses

Xxxxx Accounts. A. Has the subscribing entity been formed for the specific purpose of investing in the Shares? YES |_| NO |_| If your answer to question A is "No" CHECK whichever of the following statements (1-3) is applicable to the subscribing entity. If your answer to question A is "Yes" the subscribing entity must be able to certify to the statement (3) below in order to qualify as an "accredited investor". The undersigned trustee certifies that the trust is an "accredited investor" because: _______1) the trust has total assets in excess of $5,000,000 and the investment decision has been made by a "sophisticated person"; OR _______2) the trustee making the investment decision on its behalf is a bank (as defined in Section 3(a)(2) of the Act), a saving and loan association or other institution as defined in Section 3(a)(5)(A) of the Securities Act, acting in its fiduciary capacity; OR _______3) the undersigned trustee certifies that the trust is an accredited investor because the grantor(s) of the trust may revoke the trust at any time and regain title to the trust assets and has (have) retained sole investment control over the assets of the trust and the (each) grantor(s) meets at least one of the following conditions described above under INDIVIDUAL ACCREDITED INVESTOR STATUS. Please also CHECK the appropriate space in that section. _______4) the undersigned trustee certifies that the trust is an accredited investor because all of the beneficial owners of the trust are accredited investors (NOTE: FOR EACH GRANTOR AN INCOME STATEMENT MUST BE COMPLETED)
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Xxxxx Accounts. With respect to Deposits that are Xxxxx Accounts created by a trust for the benefit of employees and that comply with the provisions of Section 401 of the IRC ("Xxxxx Accounts"), Seller will use reasonable efforts and cooperate with Buyer to invite depositors thereof to direct a transfer of each such depositor's Xxxxx Account and the related Deposit to Buyer, as custodian thereof, and to adopt Buyer's form of Xxxxx master plan as a successor to the Xxxxx master plan of Seller. Buyer will assume no Deposits that are Xxxxx Accounts unless Buyer has received the documents necessary for such assumption or transfer at or before the Closing. With respect to any depositors who do not transfer such Xxxxx Accounts to Buyer's form of Xxxxx master plan, Seller will use reasonable efforts in order to enable Buyer to retain such Xxxxx Accounts at the Branches.
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Xxxxx Accounts. We may require any account established by a minor to be a multiple party account (joint account) with an account owner who has reached the age of majority under Michigan law and who shall be jointly and severally liable to us for any unauthorized usage or fraudulent acts, returned items, overdrafts, fees or other unpaid charges, losses, obligations or amounts on such account. We may pay funds directly to a minor without regard to his or her minority. Unless a guardian, parent, or other individual is an account owner, the guardian, parent, or other individual shall not have any account access rights. We have no duty to inquire about the use or purpose of any transaction. We will not change the account status when the minor reaches the age of majority, unless authorized in writing by all account owners and such notice shall not become effective until ten (10) days after it is received by the Credit Union, and will have no effect on transactions prior to the date that the notice is effective.
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Xxxxx Accounts. If client is a plan subject to the Employee Retirement Income Security Act of 1974 (“ERISA”), Primerica Advisors acknowledges that it is a “fiduciary” as that term is defined under ERISA with respect to those assets in the Program Account of client with respect to which Primerica Advisors acts as “fiduciary” as that term is defined under ERISA, and client acknowledges such status of Primerica. If client is a retirement plan subject to ERISA, client agrees to add a clause to the fidelity bond required by law that provides coverage for agents employed by it. This clause shall cover Primerica Advisors, and any of its officers, directors, employees and investment adviser representatives. If a Program Account is subject to ERISA, you represent that: (1) you are a “named fiduciary” within the meaning of ERISA with respect to the control or management of the assets of the Program Account and have authority to appoint other parties as fiduciaries with respect to the Program Account (as applicable); and (2) if the assets in the Program Account represent a portion of the assets of an employee benefit plan as defined in Section 3(3) of ERISA (“Plan”), you will remain responsible for determining an appropriate overall investment policy and diversification and liquidity policy for the assets of such Plan. If the Program Account is a Plan, you represent and warrant that you will deliver to Primerica upon request an accurate and complete copy of all documents governing the administration of the Plan and the investment of Plan assets (“Plan Documents”) and that overall investment strategy, specific Portfolio objectives and investment restrictions (as applicable), which you hereby approve, accurately and completely set forth any limitations or restrictions with respect to Plan investments which are contained in the Plan Documents.
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Xxxxx Accounts. (a) On or before the issuance of the Certificates, Xxxxxx Mae shall either (i) open with an Eligible Depository one or more trust accounts in the name of the Trustee that shall collectively be the Lower Tier Trust Account and one or more trust accounts in the name of the Trustee that shall collectively be the Upper Tier Trust Account, (ii) for so long as the Trustee shall be Xxxxxx Xxx, in lieu of maintaining any such account or accounts, maintain each of the Lower Tier Trust Account and the Upper Tier Trust Account by means of appropriate entries on its books and records, designating all amounts credited to the Lower Tier Trust Account in respect of the Mortgage Loans and all other assets held by the Lower Tier REMIC and all amounts credited to the Trust in respect of the Lower Tier Regular Interests held by the Trust, in each case, in its capacity as Trustee for the benefit of the Holders of the Certificates or
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Xxxxx Accounts. 46 SECTION 8.03.[Reserved]...............................................................................46 SECTION 8.04.
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Xxxxx Accounts. 47 Section 8.03.Officer's Certificate..................................47 Section 8.04.Termination Upon Distribution to Noteholders...........48 Section 8.05.Release of Trust Estate................................48 Section 8.06.Surrender of Notes Upon Final Payment..................48 ARTICLE IX
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Xxxxx Accounts. 47 SECTION 8.03.[Reserved].........................................................................................48 SECTION 8.04.General Provisions Regarding Accounts..............................................................48 SECTION 8.05.Release of Trust Estate............................................................................49 SECTION 8.06.
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Related to Xxxxx Accounts

  • Deposits to Lock-Box Accounts Deposit or otherwise credit, or cause or permit to be so deposited or credited, to any Lock-Box Account cash or cash proceeds other than Collections of Pool Receivables.

  • Lock-Box Accounts The names and addresses of all of the Lock-Box Banks, together with the account numbers of the Lock-Box Accounts at such Lock-Box Banks, are specified in Schedule 6.1(n).

  • Set Up Accounts (a) Bank shall establish and maintain the following accounts ("Accounts"):

  • Lockbox Accounts The names and addresses of all the Lockbox Banks, together with the account numbers of the Lockbox Accounts of the Seller at each Lockbox Bank and the post office box numbers of the lockboxes, are listed on Schedule 6.1(o) (or have been notified to and approved by the Agents in accordance with Section 7.3(d)) and are the only post office boxes and accounts into which Collections of Receivables are deposited or remitted. The Seller has not granted any Person, other than the Administrative Agent for the benefit of the Secured Parties as contemplated by this Agreement, control of any lockbox or Lockbox Account, or the right to take control of any such lockbox or Lockbox Account at a future time.

  • Cash Accounts The Custodian will open and maintain in the name of the Client one or more cash deposit accounts (each a “Cash Account”) in such currencies as may be required in connection with the investment activity of the Client.

  • Omnibus Accounts The Custodian may hold Foreign Securities and related Proceeds with one or more Foreign Sub-custodians or Eligible Securities Depositories in each case in a single account with such Sub-custodian or Securities Depository that is identified as belonging to the Custodian for the benefit of its customers; provided however, that the records of the Custodian with respect to Securities and related Proceeds that are property of the Company maintained in such account(s) shall identify by book-entry those Securities and other property as belonging to the Company.

  • Collection Accounts Section 3.11 Withdrawals from the Collection Accounts..................... Section 3.12 Investment of Funds in the Collection Accounts and the Distribution Account......................................... Section 3.13 Maintenance of Hazard Insurance and Errors and Omissions and Fidelity Coverage........................................ Section 3.14 Enforcement of Due-on-Sale Clauses; Assumption Agreements.... Section 3.15

  • Lock Box Account On or before the Closing Date, pursuant to the terms of the Cash Management Agreement, an Eligible Account shall be established in the name of Lender, as secured party hereunder, to serve as the "Lock Box Account" (said account, and any account replacing the same in accordance with this Loan Agreement and the Cash Management Agreement, the "LOCK BOX ACCOUNT"; and the depositary institution in which the Lock Box Account is maintained, the "LOCK BOX ACCOUNT BANK"). The Lock Box Account shall be under the sole dominion and control of Lender (which dominion and control may be exercised by Servicer); and except as expressly provided hereunder and/or in the Cash Management Agreement, the Borrowers shall not have the right to control or direct the investment or payment of funds therein during the continuance of an Event of Default. Lender may elect to change any financial institution in which the Lock Box Account shall be maintained if such institution is no longer an Eligible Bank, upon not less than five (5) Business Days' notice to the Borrower. The Lock Box Account shall be deemed to contain such sub-accounts as Lender may designate ("SUB-ACCOUNTS"), which may be maintained as separate ledger accounts and need not be separate Eligible Accounts. The Sub-Accounts shall include the following as more particularly described in the Cash Management Agreement:

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