Common use of Bank Information Clause in Contracts

Bank Information. The School shall provide all necessary information for the School’s bank account where payments from the Sponsor will be deposited. The bank account must be in the same legal name of the School. The Sponsor shall not send payments to any entity other than the contracted entity in this contract, to a trust account, any account not held and completely controlled by the School, or to any account that is part of any financial arrangements or debt security.

Bank Information. The School shall provide all necessary information for the School’s bank account where payments from the Sponsor will be deposited. The bank account must be in the same legal name of the School. The Sponsor shall not send payments to any entity other than the contracted entity in this the contract, to a trust account, any account not held and completely controlled by the School, or to any account that is part of any financial arrangements or debt security.