Common use of Aggregation of Individual Accounts Clause in Contracts

Aggregation of Individual Accounts. For purposes of determining the aggregate balance or value of Financial Accounts held by an individual, a Reporting British Virgin Islands Financial Institution is required to aggregate all Financial Accounts maintained by the Reporting British Virgin Islands Financial Institution, or by a Related Entity, but only to the extent that the Reporting British Virgin Islands Financial Institution’s computerized systems link the Financial Accounts by reference to a data element such as client number or taxpayer identification number, and allow account balances or values to be aggregated. Each holder of a jointly held Financial Account shall be attributed the entire balance or value of the jointly held Financial Account for purposes of applying the aggregation requirements described in this paragraph 1.

Aggregation of Individual Accounts. For purposes of determining the aggregate balance or value of Financial Accounts accounts held by an individual, a Reporting British Virgin Islands Financial Institution is shall be required to aggregate all Financial Accounts accounts maintained by the Reporting British Virgin Islands Financial Institution, or by a Related EntityEntities, but only to the extent that the Reporting British Virgin Islands Financial Institution’s computerized computerised systems link the Financial Accounts accounts by reference to a data element such as client number or taxpayer identification number, and allow account balances or values to be aggregated. Each holder of a jointly held Financial Account account shall be attributed the entire balance or value of the jointly held Financial Account account for purposes of applying the aggregation requirements described in this paragraph 1paragraph.