Discretionary account agreement definition

Discretionary account agreement means an agreement, actual or implied, under the terms of which an “individual” or “entity” has “investment discretion” in buying or selling or otherwise handling the “securities” or other investments of a third party; it does include, without limitation, a power of attorney, but it does not include: (1) a “Limited Mutual Fund Market Timing/Asset Allocation Agreement;” or (2) any other “investment management contract” under the terms of which an insured “registered investment adviser” is given, or exclusively exercises, “investment discretion” only with respect to buying, selling or otherwise handling mutual fund investments and/or the investments in variable life or variable annuity sub accounts, which investments are otherwise covered under the terms of this policy, and where said insured does not retain custody or otherwise have access to any “client” funds other than for the limited purpose of paying fees earned pursuant to the explicit terms of that agreement.
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Discretionary account agreement means a written agreement that complies with section 8;
Sample 1

Related to Discretionary account agreement

  • Controlled Account Agreement has the meaning specified therefor in the Security Agreement.

  • Blocked Account Agreement means an agreement among the Borrower, the Agent and a Clearing Bank, in form and substance satisfactory to the Agent, concerning the collection of payments which represent the proceeds of Accounts or of any other Collateral.

  • Account Agreements means any lockbox account agreement, pledged account agreement, blocked account agreement, securities account control agreement, or any similar deposit or securities account agreements among the Notes Agent and/or the ABL Agent, one or more Grantors and the relevant financial institution depository or securities intermediary.

  • Account Control Agreement means the Securities Account Control Agreement, dated as of the Effective Date, by and between the Borrower, as pledgor, the Collateral Agent on behalf of the Secured Parties, as secured party, and the Collateral Custodian, as Securities Intermediary.

  • Deposit Account Control Agreement means an agreement, in form and substance satisfactory to the Agent (in its Permitted Discretion), among any Loan Party, a banking institution holding such Loan Party’s funds, and the Agent with respect to collection and control of all deposits and balances held in a deposit account maintained by any Loan Party with such banking institution, as amended, supplemented or otherwise modified from time to time in accordance with the terms thereof.

  • Concentration Account has the meaning provided in Section 6.13(c).

  • Deposit Account Control Agreements means the deposit account control agreements or blocked account agreements in a form that is reasonably satisfactory to the Agent to be executed by each institution maintaining a deposit account or securities account for any of the Credit Parties, in favor of Agent, for the benefit of Secured Parties, as security for the Obligations to the extent required by Section 4.14(g) or any other provision of this Agreement or any Other Document.

  • Omnibus Account means any Shareholder Account the record owner of which is a registered broker-dealer which has agreed with the Transfer Agent to provide sub-transfer agent functions relating to each Sub-shareholder Account within such Shareholder Account as contemplated by this Schedule I in respect of each of the Funds.

  • Securities Account Control Agreement shall have the meaning ascribed thereto in the Sale and Servicing Agreement.

  • Operating Account Is defined in Section 7-3.

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