Common use of CHECK WRITING PRIVILEGES Clause in Contracts

CHECK WRITING PRIVILEGES. If you have requested cash access check-writing privileges, upon approval of your application by Provident, you may exercise a cash access check-writing privilege through an account with Provident. Provident will furnish initial checks to you. In the case of a corporate account, a maximum of six (6) authorized check signers designated by corporate resolutions may exercise a cash access checkwriting privilege through an account maintained at Provident. You must maintain sufficient Available Cash in your Securities Account and Fund shares ("Combined Asset Value") to pay any checks you write. Payments for checks will be satisfied from the Combined Asset Value of your ▇▇▇ Plus Account in the following order: First, from cash in your Securities Account; second, from the proceeds of redeeming Designated Fund shares (if any); and third, from the proceeds of redeeming other Fund shares (if any). Should these assets prove to be insufficient, U.S. Bancorp ▇▇▇▇▇ ▇▇▇▇▇▇▇ will be required to return the check as nonsufficient funds.