Common use of Deposit Placement Clause in Contracts

Deposit Placement. Agreement and Schedules Schedule 1 describes the procedure by which we will place deposits for you through the form of ICS known as ICS-Daily Rate. Schedule 2 describes the account type and placement feature that we will use. Schedule 3 describes the procedure by which we will place deposits for you through the form of ICS known as ICS-Fixed Rate if we offer such placement. Each participating institution in ICS that is an insured depository institution (“Destination Institution”) will be one at which deposit accounts are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to the FDIC standard maximum deposit insurance amount (“SMDIA”) of $250,000. Subject to the terms and conditions of this Agreement, when we place deposits in a deposit account at a Destination Institution for your funds placed through ICS (“Deposit Account”), the amount of our outstanding placements for you at the Destination Institution through ICS and through CDARS®, the Certificate of Deposit Account Registry Service®, will not exceed $250,000. The Bank of New York Mellon (“BNY Mellon”) provides services that support deposit placement through ICS. ▇▇▇ ▇▇▇▇▇▇’▇ services include acting as our sub-custodian and settlement agent. You must be capable of using, and you agree to use, the Depositor Control Panel (“DCP”), an online tool, to review provisional allocations of deposits and for other purposes. You also agree to receive notices that may be posted on the DCP or sent to you by email. Deposit Accounts Deposits that we place for you in Deposit Accounts will be “deposits,” as defined by federal law, at the Destination Institutions. Each Deposit Account, including the principal balance and the accrued interest, will be a deposit obligation solely of the Destination Institution at which it is held. It will not be a deposit obligation of us or of IntraFi, BNY Mellon, or any other person or entity.

Deposit Placement. Agreement Subject to the terms and Schedules conditions of this Agreement, we will act as your agent in placing deposits for you through ICS. Schedule 1 describes the procedure by which we will place deposits for you through the form of ICS known as ICS-Daily Rate. Schedule 2 describes the account type and placement feature that we will use. Schedule 3 describes the procedure by which we will place deposits for you through the form of ICS known as ICS-Fixed Rate if we offer such placement. Each participating institution in ICS that is an insured depository institution at which deposits may be placed through ICS (“Destination Institution”) will be one at which deposit accounts are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to the FDIC standard maximum deposit insurance amount (“SMDIA”) of $250,000. A LIST IDENTIFYING INTRAFI NETWORK BANKS, WHICH ARE FDIC-INSURED DEPOSITORY INSTITUTIONS, APPEARS AT ▇▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇.▇▇▇/NETWORK- BANKS. CERTAIN CONDITIONS MUST BE SATISFIED FOR “PASS-THROUGH” FDIC DEPOSIT INSURANCE COVERAGE TO APPLY. IntraFi network banks may be added or removed without notice. As described below, you may designate any Destination Institution as ineligible to receive your funds. Subject to the terms and conditions of this Agreement, when we place deposits in a deposit account at a Destination Institution for your funds placed through ICS (“Deposit Account”), the amount of our outstanding placements for you at the Destination Institution through ICS and through CDARS®, the Certificate of Deposit Account Registry Service®, will not exceed $250,000. The Bank On the signature page of New York Mellon this Agreement, you will enter a unique alphanumeric identifier for you (“BNY MellonDepositor Identifier”). You will enter your federal taxpayer identification number (“TIN”) provides services as your Depositor Identifier, unless you do not have a TIN, in which case you will enter an alternate identifier that support deposit placement through ICS. ▇▇▇ ▇▇▇▇▇▇’▇ services include acting as our sub-custodian and settlement agentwe approve. You must be capable of using, and you agree to use, will use the same Depositor Control Panel (“DCP”), an online tool, to review provisional allocations Identifier for all placement of deposits and for you through ICS or CDARS by us or any other purposesinstitution. You also agree to receive notices that may be posted on the DCP or sent to you by email. Deposit Accounts Deposits that we place for you in Deposit Accounts will be “deposits,” as defined by federal law, at the Destination Institutions. Each Deposit Account, including the principal balance and the accrued interest, will be a deposit obligation solely of the Destination Institution at which it is held. It will not be a deposit obligation of us or of IntraFi, BNY Mellon, or any other person or entity.