Principal Account definition

Principal Account as set forth in the Standard Terms and Conditions of Trust shall be replaced with the term "Capital Account."

Principal Account means the account designated as such, established and owned by the Issuer and maintained in accordance with Section 4.2.

Principal Account is defined in Section 4.9(a).

Examples of Principal Account in a sentence

• Such tendering Unitholder will receive his pro rata number of whole shares of each of the Securities comprising the portfolio of such Trust and cash from the Principal Account equal to the value of the fractional shares to which such tendering Unitholder is entitled.

• The balance paid on any Redemption Value, including income not paid from the Principal Account, if any, shall be withdrawn from the Principal Account to the extent that funds are available for such purpose.

• If funds in the Principal Account are insufficient to cover the required cash distribution to the tendering Unitholder, the Trustee shall sell Securities according to the criteria discussed herein.

• If such available funds shall be insufficient, the Trustee shall sell such Securities as have been designated on the current list for such purpose by the Supervisor (or by the Evaluator), as hereinafter in this Section 5.02 provided, in amounts as the Trustee in its discretion shall deem advisable or necessary in order to fund the Principal Account for purposes of such redemption.

• The Supervisor shall maintain with the Trustee a current list of Securities designated to be sold for the purpose of funding the Principal Account for redemption of Units tendered for redemption and, to the extent necessary, for payment of expenses under this Indenture.

More Definitions of Principal Account

Principal Account shall have the meaning specified in subsection 4.02(b).

Principal Account means the Account within the Debt Service Fund so designated and established by Article V.

Principal Account means the account by that name in the Bond Fund established pursuant to Section 5.02.

Principal Account means the account by that name established and held by the Trustee pursuant to Section 4.03(b).

Principal Account means the interest bearing account described as such in the name of the Issuer with the Account Bank into which Principal Proceeds are to be paid.

Principal Account means deposit accounts of the Fund carried on the books of BBH&Co. as principal in accordance with Section 7.

Principal Account means an account in which a Participant or a related entity of the Participant holds a direct or indirect interest other than an interest in the commission charged on a transaction.