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Common use of Transaction Accounts Clause in Contracts

Transaction Accounts. A Customer shall open a transaction account for the purpose of receipt of regular income and making of payment transactions.

Appears in 2 contracts

Sources: Agreement on Transactions via Savings and Transaction Accounts, Agreement on Transactions via Savings and Transaction Accounts

Related Clauses

  • Collection Accounts
  • Investment Accounts
  • Collection Account and Distribution Account
  • Withdrawals from the Collection Account and Distribution Account
  • Permitted Withdrawals from the Collection Accounts and Certificate Account

Parent Clauses

  • Clean-Up Call Redemption
  • Accounts Accountings and Releases
  • Involuntary Bankruptcy Proceedings
  • Protection of Collateral
  • Covenants

Sub-Clauses

  • Payment Account
  • Custodial Account
  • Expense Reserve Account
  • Ramp-Up Account
  • Interest Reserve Account
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