Transfer of Deposit Accounts Clause Samples

The "Transfer of Deposit Accounts" clause governs the conditions under which a party may transfer ownership or control of a deposit account to another party. Typically, this clause outlines the requirements for such a transfer, such as obtaining prior written consent from the financial institution or meeting specific documentation standards. For example, it may specify that the account holder must notify the bank and provide identification of the transferee before the transfer is processed. The core function of this clause is to ensure that deposit accounts are not transferred without proper authorization, thereby protecting both the account holder and the financial institution from unauthorized or fraudulent transfers.
Transfer of Deposit Accounts. 24 18. Requirements Following Conversion and Reorganization for Registration, Market Making and Stock Exchange Listing................................
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Transfer of Deposit Accounts. Each Deposit Account in the Bank at the time of the consummation of the Conversion and Reorganization shall become, without further action by the holder, a Deposit Account in the Bank equivalent in withdrawable amount to the withdrawal value (as adjusted to give effect to any withdrawal made for the purchase of Conversion Stock), and subject to the same terms and conditions (except as to voting and liquidation rights) as such Deposit Account in the Bank immediately preceding consummation of the Conversion and Reorganization. Holders of Deposit Accounts in the Bank shall not, as such holders, have any voting rights.
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Transfer of Deposit Accounts. Each Person holding a Deposit Account at the Bank at the time of the Conversion shall retain an identical Deposit Account at the Bank following the Conversion in the same amount (as adjusted to give effect to any withdrawal made for the purchase of Conversion Stock) and subject to the same terms and conditions (except as to voting and liquidation rights).
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Transfer of Deposit Accounts. Each Deposit Account in the Savings Bank at the time of the consummation of the Conversion shall become, without further action by the holder, a Deposit Account in the Savings Bank equivalent in withdrawable amount to the withdrawal value (as adjusted to give effect to any withdrawal made for the purchase of Common Stock), and subject to the same terms and conditions (except as to voting and liquidation rights) as such Deposit Account in the Savings Bank immediately preceding consummation of the Conversion. Holders of Deposit Accounts in the Savings Bank shall not, as such holders, have any voting rights.
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Transfer of Deposit Accounts. Each Deposit Account in the Association at the time of the consummation of the Conversion and Reorganization shall become, without further action by the holder, a Deposit Account in the Association equivalent in withdrawable amount to the withdrawal value (as adjusted to give effect to any withdrawal made for the purchase of Conversion Stock), and subject to the same terms and conditions (except as to voting and liquidation rights) as such Deposit Account in the Association immediately preceding consummation of the Conversion and Reorganization. Holders of Deposit Accounts in the Association shall not, as such holders, have any voting rights.
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Transfer of Deposit Accounts. Each Deposit Account in the New Bank at the time of the consummation of the Conversion and Reorganization shall become, without further action by the holder, a Deposit Account in the New Bank equivalent in withdrawable amount to the withdrawal value (as adjusted to give effect to any withdrawal made for the purchase of Conversion Stock), and subject to the same terms and conditions (except as to voting and liquidation rights) as such Deposit Account in the New Bank immediately preceding consummation of the Conversion and Reorganization. Holders of Deposit Accounts in the New Bank shall not, as such holders, have any voting rights.
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Transfer of Deposit Accounts. Within 90 days after the date hereof, Borrower shall (i) transfer all of its Deposit Accounts to PWB, and (ii) transfer its primary investment accounts to PWB or PWB’s Affiliates, and (iii) at all times thereafter maintain the foregoing with PWB or PWB’s Affiliates; provided that Borrower may maintain up to a total not to exceed $250,000 in Deposit Accounts at other institutions, subject to a control agreement among Borrower, such institution and Agent, in form and substance satisfactory to Agent in its Good Faith Business Judgment.
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Transfer of Deposit Accounts 
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Related to Transfer of Deposit Accounts

  • Transfer of Accounts The Seller may transfer the Custodial Account or the Escrow Account to a different depository institution from time to time. Such transfer shall be made only upon obtaining the consent of the Purchaser, which consent shall not be unreasonably withheld. In any case, the Custodial Account and Escrow Account shall be Eligible Accounts.

  • Administration of Deposit Accounts Schedule 8.5 sets forth all Deposit Accounts maintained by Obligors, including all Dominion Accounts. Each Obligor shall take all actions necessary to establish Agent’s control over each such Deposit Account (other than Excluded Deposit Accounts). Each Obligor shall be the sole account holder of each Deposit Account and shall not allow any Person (other than Agent) to have control over a Deposit Account or any Property deposited therein. Each Obligor shall promptly notify Agent of any opening or closing of a Deposit Account and, with the consent of Agent, will amend Schedule 8.5 to reflect same.

  • Deposit Accounts; Securities Accounts The only Deposit Accounts or Securities Accounts maintained by any Grantor on the date hereof are those listed on Schedule 6 (Bank Accounts; Control Accounts), which sets forth such information separately for each Grantor.

  • Deposit Account If you are issued a secured Card, you have signed or will be required to sign a separate security agreement pledging a specific, non-withdrawable portion of your shares and/or deposits in BECU to secure your Card. The amount of the security for such a Card is the amount of your credit limit and you may not have any access to or control of that amount.

  • Deposit Accounts, Securities Accounts and Commodity Accounts Attached hereto as Schedule 14 is a true and complete list of all Deposit Accounts, Securities Accounts and Commodity Accounts maintained by each Company, including the name of each institution where each such account is held, the name of each such account and the name of each entity that holds each account.