Examples of Covered Account in a sentence
The Collateral Agent shall in no way be liable for any insufficiency in a Covered Account resulting from any loss relating to any such investment.
Any Covered Account may contain any number of additional accounts or subaccounts for the convenience of the Collateral Agent or as required by the Investment Advisor for convenience in administering the Covered Account (including additional accounts or subaccounts for purposes of holding Available Currencies) or the Collateral.
Following the occurrence of an Event of Default under the Loan Documents, Borrower will not deposit into any Covered Account (as defined in the Freddie Mac Acknowledgment Agreement), including the Pledged Deposit Account, the Minimum Servicing Compensation, and Borrower’s failure to deposit the Minimum Servicing Compensation into any such Covered Account shall not give rise to a default or Event of Default under the Loan Documents.
Each Covered Account shall be established and maintained under the Account Control Agreement with a Qualified Institution.