Securities Account Control Agreement Meaning

Security documents – United States Also called security documents. Loan documents in a secured credit transaction that ensure the borrower`s obligations to the lender under the loan agreement. Warranty documents include all documents that have a security interest. . Law Dictionary Filing – United States An account to which a financial asset is credited or credited under an agreement, under which the financial institution that has the account agrees to treat the person for whom the account is held. . Word Book Control Agreement – An agreement that perfects a creditor`s interest in a deposit and allows securities to remain registered in the owner`s name. An account control agreement is used to justify a security interest which is the. . Financial and commercial conditions The debtor shall make available to the secured party a current account control agreement duly entered into in the name of any financial institution holding a current account of the debtor in accordance with this security agreement. account — a set of data from a business transaction. If you buy something on credit, the company you`re dealing with creates an account.

This means that it establishes a record of what you buy and what you pay. You`re going to do the same with all the customers you to. Financial and commercial conditions The issuer has provided the trustee with a fully executed deposit control agreement, under which the depositary has undertaken to comply with all instructions of the trustee regarding the accounts without further agreement from the issuer. Under the Constitution and the laws of the State, the lessee has the right to enter into this lease master agreement, any lease agreement and the acquisition and account control fund contract as well as the envisaged transactions, in order to fulfill all the obligations incumbent on him under this contract and any lease agreement and the acquisition fund and the account control contract. Prior to the opening or replacement of a current account, the debtor must: (a) obtain the written consent of the majority holders to open such a current account and (b) induce any bank or financial institution with which it wishes to open a current account to enter into an agreement with the secured party on the control of a current account in order to give the secured party control of that current account. . . .

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