Bank and Securities Accounts Clause Samples
The 'Bank and Securities Accounts' clause defines the rules and responsibilities regarding the establishment, maintenance, and use of bank and securities accounts in the context of an agreement. It typically specifies which party is authorized to open and control such accounts, outlines the permitted uses of the accounts, and may require that all funds related to the transaction be deposited into designated accounts. This clause ensures transparency and proper management of financial assets, helping to prevent misuse of funds and providing clear procedures for handling money and securities throughout the contractual relationship.
Bank and Securities Accounts. The Company currently maintains its bank and investment accounts at:
Bank and Securities Accounts. Funds of the Company shall be deposited in such banks or with such securities intermediaries or other depositories as shall be designated from time to time by the Board of Managers.
Bank and Securities Accounts. Schedule 4.30 contains a true and complete list of the names and addresses of (a) all bank, investment and securities accounts of the Target Corporation, together with the names of all Persons authorized to draw thereon or withdraw therefrom, and (b) all Persons to whom powers of attorney have been granted by the Target Corporation. The cash and securities held in such accounts are not subject to restrictions or limitations as to withdrawals, margin balances or compensating balances. Schedule 4.30 also includes all accounts, deposits or safe deposit boxes and the names of all Persons authorized to draw on such accounts or deposits or to have access to such safe deposit boxes. The books of account of the Target Corporation show all checks and drafts outstanding, and there are sufficient funds in the bank accounts listed on Schedule 4.30 to pay any and all checks or drafts presented, or outstanding, but not yet presented on said accounts.
Bank and Securities Accounts. Section 2.26 of the Disclosure Schedule contains a true and complete list of the names and addresses of (a) all bank, investment and securities accounts of the Companies, together with the names of all persons authorized to draw thereon or withdraw therefrom, and (b) all Persons to whom powers of attorney have been granted by each Company. The cash and securities held in such accounts are not subject to restrictions or limitations as to withdrawals, margin balances or compensating balances. Section 2.26 of the Disclosure Schedule also includes all accounts, deposits or safe deposit boxes of the Companies and the names of all Persons authorized to draw on such accounts or deposits or to have access to such safe deposit boxes. The books of account of each Company and each Subsidiary show all checks and drafts outstanding, and there are sufficient funds in the bank accounts listed on Section 2.26 of the Disclosure Schedule to pay any and all checks or drafts presented, or outstanding, but not yet presented on said accounts.
Bank and Securities Accounts. Schedule 4.24 sets forth all of the Borrower’s banks and securities intermediaries where funds are held or deposited, including their addresses and the relevant account numbers.
Bank and Securities Accounts. As of the date hereof, the Debtor and the Subsidiaries do not have any deposit or securities accounts except as described on EXHIBIT A hereto. Neither the Debtor nor any Subsidiary shall establish any new deposit account or securities account unless (a) it shall have given to the Secured Party prior written notice of its intention to do so, clearly describing such new account and its location, and providing such other information in connection therewith as the Secured Party may reasonably request and (b) with respect to such new account, the Debtor or the applicable Subsidiary shall have taken all actions reasonably requested by the Secured Party to maintain the security interest of the Secured Party in such account that is granted hereby at all times fully perfected and in full force and effect.