Common use of Bankruptcy, Insolvency, Incompetency and Death Clause in Contracts

Bankruptcy, Insolvency, Incompetency and Death. You agree to give prompt written notice to SoFi Bank in the event of your bankruptcy or insolvency. If you are a natural person, you agree that your guardian will give SoFi Bank written notice of your incompetency and that your estate will give SoFi Bank written notice of your death. SoFi Bank may, before or after receiving notice of any of the conditions described in the preceding paragraph, commence any proceedings, require any documents, retain any portion of or restrict transactions in the Account or demand immediate repayment of any amounts owed to SoFi Bank as it deems advisable in its discretion to protect itself against any potential tax, liability, penalty, expense or loss arising out of your bankruptcy, insolvency, incompetency, or death. The person subject to the condition, or the person’s estate, will be liable to SoFi Bank for: (i) any tax, liability, penalty, expense or loss in the Account resulting from the completion of transactions initiated prior to SoFi Bank’ receipt of a written notice of the condition; (ii) any tax, liability, penalty, expense or loss incurred in the liquidation of the Account; and (iii) any other obligations owing with respect to the Account.

Bankruptcy, Insolvency, Incompetency and Death. You agree to give prompt written notice to SoFi Bank in the event of your bankruptcy or insolvency. If you are a natural person, you agree that your guardian will give SoFi Bank written notice of your incompetency and that your estate will give SoFi Bank written notice of your death. SoFi Bank may, before or after receiving notice of any of the conditions described in the preceding paragraph, commence any proceedings, require any documents, retain any portion of or restrict transactions in the Account or demand immediate repayment of any amounts owed to SoFi Bank as it deems advisable in its discretion to protect itself against any potential tax, liability, penalty, expense or loss arising out of your bankruptcy, insolvency, incompetency, or death. The person subject to the condition, or the person’s estate, will be liable to SoFi Bank for: : (i) any tax, liability, penalty, expense or loss in the Account resulting from the completion of transactions initiated prior to SoFi Bank’ receipt of a written notice of the condition; (ii) any tax, liability, penalty, expense or loss incurred in the liquidation of the Account; and (iii) any other obligations owing with respect to the Account.

Bankruptcy, Insolvency, Incompetency and Death. You agree to give prompt written notice to SoFi Bank Securities in the event of your bankruptcy or insolvency. If you are a natural person, you agree that your guardian will give SoFi Bank Securities written notice of your incompetency and that your estate will give SoFi Bank Securities written notice of your death. SoFi Bank Securities may, before or after receiving notice of any of the conditions described in the preceding paragraph, commence any proceedings, require any documents, retain any portion of or restrict transactions in the Account or demand immediate repayment of any amounts owed to SoFi Bank Securities as it deems advisable in its discretion to protect itself against any potential tax, liability, penalty, expense or loss arising out of your bankruptcy, insolvency, incompetency, or death. The person subject to the condition, or the person’s estate, will be liable to SoFi Bank Securities for: (i) any tax, liability, penalty, expense or loss in the Account resulting from the completion of transactions initiated prior to SoFi BankSecurities’ receipt of a written notice of the condition; (ii) any tax, liability, penalty, expense or loss incurred in the liquidation of the Account; and (iii) any other obligations owing with respect to the Account.