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Common use of Demand Deposit Account Clause in Contracts

Demand Deposit Account. Custodian will open and maintain a demand deposit account or accounts in the name of Custodian, subject only to draft or order by Custodian upon receipt of instructions. All monies received by Custodian from or for the account of Fund shall be deposited in said account or accounts. When properly authorized by a resolution of the Board of Trustees of Fund, Custodian may open and maintain an additional demand deposit account or accounts in such other banks or trust companies as may be designated in such resolution, such accounts, however, to be in the name of Custodian and subject only to its draft or order.

Appears in 24 contracts

Samples: Custody Agreement (Cash Equivalent Fund), Custody Agreement (Kemper Small Capitalization Equity Fund), Custody Agreement (Kemper Growth Fund)

Demand Deposit Account. Custodian will open and maintain a demand deposit account or accounts in the name of Custodian, subject only to draft or order by Custodian upon receipt of instructions. All monies received by Custodian from or for the account of Fund shall be deposited in said account or accounts. When properly authorized by a resolution of the Board of Trustees Directors of Fund, Custodian may open and maintain an additional demand deposit account or accounts in such other banks or trust companies as may be designated in such resolution, such accounts, however, to be in the name of Custodian and subject only to its draft or order.

Appears in 1 contract

Samples: Custody Agreement (Growth Fund of Spain Inc)

Demand Deposit Account. Custodian will open and maintain a demand deposit account or accounts in the name of Custodian, subject only to draft or order by Custodian upon receipt of instructions. All monies received by Custodian from or for the account of Fund shall be deposited in said account or accounts. When properly authorized by a resolution of the Board of Trustees of Fund, Custodian may open and maintain an 7 additional demand deposit account or accounts in such other banks or trust companies as may be designated in such resolution, such accounts, however, to be in the name of Custodian and subject only to its draft or order.

Appears in 1 contract

Samples: Custody Agreement (Kemper High Income Trust)