Common use of Pledge of Accounts Clause in Contracts

Pledge of Accounts. 3.1 In the case of indistinct accounts, accountholders authorize any of them, without the consent, knowledge or participation of other accountholders, to grant a guarantee, pledge or charge all or part of the funds deposited and to be deposited in the future in the account, to guarantee the Bank loans granted to any of the accountholders and exempt from any liability to the Bank for cash withdrawals are made in this manner. 3.2 In the case of joint accounts, the consent of all accountholders shall be required to give a guarantee, pledge or charge all or part of the funds deposited or to be deposited in the future in the account to guarantee such loans to any of the accountholders or third parties.

Pledge of Accounts. 3.1 In the case of indistinct accounts, accountholders authorize any of them, without the consent, knowledge knowledge, or participation of other accountholders, to grant a guarantee, pledge or charge all or part of the funds deposited and to be deposited in the future in the account, to guarantee the Bank loans granted to any of the accountholders and exempt from any liability to the Bank for cash withdrawals are made in this manner. 3.2 In the case of joint accounts, the consent of all accountholders shall be required to give a guarantee, pledge or charge all or part of the funds deposited or to be deposited in the future in the account to guarantee such loans to any of the accountholders or third parties.