Account Type and Withdrawal Limit. If Any (a) Deposits that we place for you through ICS- Daily Rate at a Destination Institution will be placed in a Deposit Account that is a demand deposit account (“DDA”) or a Deposit Account that is a money market deposit account (“MMDA”), as provided in Section 1 of Schedule 2. (b) Section 1 of Schedule 2 provides (i) that we will place deposits for you in DDAs, (ii) that we will place deposits for you in MMDAs, or (iii) that we may place deposits for you in DDAs or MMDAs. (c) Section 1 of Schedule 2 also provides, if MMDAs will or may be used, (i) that an MMDA Program Withdrawal limit of six per month applies or (ii) that no MMDA Program Withdrawal limit applies. (d) If a Program Withdrawal limit applies and you exceed the six permitted Program Withdrawals from MMDAs in a month: (i) We may (A) transfer all the remaining funds in the MMDAs to the Root Account associated with the Custodial Account for the MMDAs or (B), if you also have a Custodial Account for DDA deposits, transfer all the remaining funds in the MMDAs to the Custodial Account for DDA deposits. (ii) In subsequent months we may effect either such transfer at the time of your sixth Program Withdrawal. (e) If you exceed the six permitted Program Withdrawals from MMDAs in multiple months, we may also make the Custodial Account for the MMDAs ineligible for Program Deposits.
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Sources: Ics Deposit Placement Agreement (Chicago Atlantic BDC, Inc.), Ics Deposit Placement Agreement, Ics Deposit Placement Agreement