Custodial Trust Account definition

Custodial Trust Account shall have the meaning given in Section 2.5.2. hereof.
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Custodial Trust Account means the Custodial Trust Account established to hold funds to implement necessary Environmental Actions, to pay real estate taxes, insurance, and other administrative costs of the Texas Custodial Trust, and fulfill the purposes of this Texas Custodial Trust.
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Custodial Trust Account an account at an acceptable financial institution established by the qualifying broker for the purpose of holding money of an owner. The account shall be established in the owner’s name with the qualifying broker as trustee. This account may be interest bearing.
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Examples of Custodial Trust Account in a sentence

  • Each Custodial Trust Account may be divided into such number of trust subaccounts dedicated for specific uses as may be deemed necessary in the sole discretion of the Environmental Custodial Trust Trustee to comply with the terms of, and implement, the Plan, the Settlement Agreement and this Agreement.

  • Funds designated for a Transferred Real Property shall be held and distributed from its respective Custodial Trust Account as set forth herein, and Funds from a Custodial Trust Account may not be used for another Transferred Real Property except as otherwise expressly provided by and in accordance with this Section and Section 2.7.3 of this Agreement.

  • Subject to Section 2.7 of this Agreement, the income and gains from any investment of the Custodial Trust Assets shall be allocated, paid and credited to such Custodial Trust Account.

  • All compensation payable to the Lyondell Environmental Custodial Trust Trustee shall be paid from the appropriate Custodial Trust Account based on the nature of the work being either administrative or environmental.

  • The annual report shall pertain to the prior calendar year, or if the report is a final report, such period from the most recent annual report to the termination of the Custodial Trust Account.

  • The Texas Custodial Trust shall be the exclusive holder of the Custodial Trust Assets and the Custodial Trust Account described herein for purposes of 31 U.S.C. § 3713(b) and 26 U.S.C. § 6012 (b)(3).

  • All payments received by the Custodial Trustee and any Custodial Trust Proceeds must be immediately placed by the Custodial Trustee into the Custodial Trust Account to be used for the purposes set forth in this Agreement.

  • The Custodial Trust Account shall fund the administrative costs of the Texas Custodial Trust that have been expressly approved by the TCEQ.

  • The approved budget shall be funded by the transfer of the approved amount from Custodial Trust Account in accordance with the approved fee schedule.

  • The Custodial Trust Assets shall be subject to the claims of the Custodial Trustee, and the Custodial Trustee shall be entitled to reimburse itself out of any available cash in the Custodial Trust Account and the Texas Custodial Trust shall be obligated to pay, for actual out-of-pocket expenses and for actual hours worked.

Related to Custodial Trust Account

  • Trust Accounts has the meaning assigned thereto in Section 5.1.

  • the Trust Fund means the Bond(s) referred to in the First Schedule to the Declaration of Trust and the property from time to time representing the same (and also includes any other property which may become Trust Property as a result of any loan to the Trustees or any addition by way of gift or any accumulation of income).

  • Property Trustee Account has the meaning set forth in Section 3.8(c).

  • Note A-1 Trust Fund means the trust formed pursuant to the Note A-1 PSA.

  • Trust Account means the trust account established by the Company upon the consummation of its IPO and into which a certain amount of the net proceeds of the IPO, together with a certain amount of the proceeds of a private placement of warrants simultaneously with the closing date of the IPO, will be deposited.

  • Custodial Account The separate account or accounts created and maintained pursuant to Section 4.04.

  • Custodial Accounts Each Custodial Account (other than an Escrow Account) established and maintained by a Servicer pursuant to a Servicing Agreement with respect to the Mortgage Loans.

  • Note A-4 Trust Fund means the trust formed pursuant to the Note A-4 PSA.

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • Collateral Trust Agreement means the Collateral Trust Agreement, dated as of the date hereof, among, among others, the Borrower, the subsidiaries of the Borrower party thereto from time to time as grantors, the MIP Shareholders party thereto from time to time and GLAS Trust Company LLC, in its respective capacities, including as Collateral Trustee.

  • Lead Securitization Trust means the Securitization Trust created in connection with the Lead Securitization.

  • Trust Account Property means the Trust Accounts, all amounts and investments held from time to time in any Trust Account (whether in the form of deposit accounts, Physical Property, book-entry securities, uncertificated securities or otherwise), and all proceeds of the foregoing.

  • Servicer Custodial Account The separate Eligible Account or Accounts created and maintained by the Servicer pursuant to Section 3.08(b).

  • Whole Loan Custodial Account means the “Whole Loan Custodial Account” established for the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement.

  • Non-Lead Securitization Trust means the Securitization Trust into which any Non-Lead Securitization Note is deposited.

  • Custodial Agent means the Person who is then the Custodial Agent thereunder.

  • Servicer Account means any account established by Servicer in connection with the servicing of the Mortgage Loans.

  • Liquidating Trust Agreement means an agreement evidencing the terms and provisions governing a Liquidating Trust that shall be entered into prior to the establishment of such Liquidating Trust and pursuant to which a Liquidating Trustee shall manage and administer Liquidating Trust Assets.

  • Escrow Trustee means the bank or trust company designated by the Fiscal Officer in the Certificate of Award as the initial escrow agent with respect to the Refunded Bonds under the Escrow Agreement and until a successor Escrow Trustee shall have become such pursuant to the provisions of the Escrow Agreement and, thereafter, "Escrow Trustee" shall mean the successor Escrow Trustee.

  • Master Trust Agreement means the Second Amended and Restated Trust Agreement, dated as of May 8, 2019, between Verizon ABS II LLC, as depositor, and the Master Trust Owner Trustee, as amended, restated, supplemented or modified from time to time.

  • Indenture Trust Estate means all money, instruments, rights and other property that are subject or intended to be subject to the lien and security interest of the Indenture for the benefit of the Noteholders (including all Collateral Granted to the Indenture Trustee), including all proceeds thereof.

  • Master Trust Trustee means the entity acting as trustee under the applicable Pooling and Servicing Agreement.

  • Sub-Servicing Account An account established by a Sub-Servicer which meets the requirements set forth in Section 3.08 and is otherwise acceptable to the Master Servicer.

  • Liquidation Trust Agreement means the Liquidation Trust Agreement to be dated as of the Effective Date establishing the terms and conditions of the Liquidation Trust, substantially in the form attached hereto as Exhibit B.