Banking Association Clause Samples
The Banking Association clause establishes the relationship and terms under which a party may interact with or utilize the services of a designated banking institution. Typically, this clause outlines the responsibilities of the parties regarding the management of accounts, handling of funds, and authorization of transactions through the associated bank. By clearly defining these procedures, the clause ensures that financial operations are conducted efficiently and securely, reducing the risk of disputes or unauthorized activities related to banking matters.
Banking Association. The Owner Trustee is a banking association satisfying Section 3807(a) of the Delaware Statutory Trust Act and meets the eligibility requirements of Section 9.1(a).
Banking Association. The Delaware Trustee is a Delaware banking corporation satisfying Section 3807(a) of the Delaware Statutory Trust Act. The Owner Trustee is a New York banking corporation and meets the applicable eligibility requirements of Section 9.1.