Common use of Closing the Account Clause in Contracts

Closing the Account. Except as expressly limited in this Agreement, either Depositor or Bank may close this Account at any time, with or without reason or cause of any type or manner, except that we may require you to give us seven (7) days advance notice when you intend to close your savings or interest bearing checking account by withdrawing your funds. If Bank closes this Account, Bank may notify Depositor of the effective date on which this Account will be, or was, closed. Bank agrees to remit to Depositor any positive balance remaining in this Account within a reasonable time of the effective date of the closing of this Account, after deduction therefrom (i) any fees, service charges and/or accrued interest due and owing, and/or (ii) any amounts subject to Bank’s exercise of its right of setoff, and/or any foreclosure of Bank’s security interest in this Account or in any of the funds deposited therein. If Bank closes your Account, Bank may mail a check to you at the address in the Bank’s current records.

Closing the Account. Except as expressly limited in this Agreement, either Depositor or Bank may close this Account at any time, with or without reason or cause of any type or manner, except that we may require you to give us seven (7) days advance notice when you intend to close your savings or interest bearing checking account by withdrawing your funds. If Bank closes this Account, Bank may notify Depositor of the effective date on which this Account will be, or was, closed. Bank agrees to remit to Depositor any positive balance remaining in this Account within a reasonable time of the effective date of the closing of this Account, after deduction therefrom (i) any fees, service charges and/or accrued interest due and owing, and/or (ii) any amounts subject to Bank’s exercise of its right of setoff, and/or any foreclosure of Bank’s security interest in this Account or in any of the funds deposited therein. If Bank closes your After the effective date of the closing of this Account, Bank may mail a check has no obligation to you at the address in the Bank’s current recordsaccept deposits or to pay or process any checks, drafts, withdrawal or transfer documents, or other items.

Closing the Account. Except as expressly limited in this Agreement, either Depositor or Bank may close this Account at any time, with or without reason or cause of any type or manner, except that we may require you to give us seven (7) days advance notice when you intend to close your savings or interest bearing checking account by withdrawing your funds. If Bank closes this Account, Bank may notify Depositor of the effective date on which this Account will be, or was, closed. Bank agrees to remit to Depositor any positive collected balance remaining in this Account within a reasonable time of the effective date of the closing of this Account, after deduction therefrom (i) any fees, service charges and/or accrued interest due and owing, and/or (ii) any amounts subject to Bank’s exercise of its right of setoff, and/or any foreclosure of Bank’s security interest in this Account or in any of the funds deposited therein. If Bank closes your After the effective date of the closing of this Account, Bank may mail a check has no obligation to you at the address in the Bank’s current recordsaccept deposits or to pay or process any checks, drafts, withdrawal or transfer documents, or other items.