Actions Affecting Accounts Clause Samples

Actions Affecting Accounts. In the event Bank receives from a governmental authority or third party any process, order, summons, injunction, levy, execution, lien, garnishment, or adverse claim notice which Bank reasonably believes will adversely affect the Concentration Account or the CDA, Bank may refuse to honor orders to pay or withdraw sums from any CDA and may either hold the Concentration Account balance herein until such action is resolved to Bank’s satisfaction. Client acknowledges this may occur at the discretion of and without liability to Bank.