Common use of Third Party Accounts Clause in Contracts

Third Party Accounts. In case of a joint account or any account in which the Borrower is a co- holder, the Borrower agrees that the Lender may exercise its lien or set- off rights with respect to the entire balance in such account, regardless of any claim by any third-party account holders, subject to applicable legal provisions.

Appears in 4 contracts

Sources: Loan Agreement, Loan Agreement, Loan Agreement