Common use of Distribution of Accounts Clause in Contracts

Distribution of Accounts. If an account is opened for a trust, the trust is the party with which the Credit Union is contracting, and the trust agrees that the Credit Union may distribute funds pursuant to the terms of the most recently dated trust agreement or Certificate of Trust on file at the Credit Union, and the trust, forever indemnifies and holds the Credit Union harmless for distributions made pursuant to that trust made in good faith reliance on that trust agreement or Certificate of Trust. The trust further agrees that it is the responsibility of the trust (through its trustee) and the settlor of the trust to notify the Credit Union when a trust for which an account has been opened has been revoked, rescinded, revised, or in any way modified.

Distribution of Accounts. If an account is opened for a trustTrust, the trust Trust is the party with which the Credit Union is contracting, and the trust Trust agrees that the Credit Union may distribute funds pursuant to the terms of the most recently dated trust agreement Trust Agreement or Certificate of Trust on file at the Credit Union, and the trustTrust, forever indemnifies and holds the Credit Union harmless for distributions made pursuant to that trust Trust made in good faith reliance on that trust agreement Trust Agreement or Certificate of Trust. The trust further agrees that it is the responsibility of the trust Trust (through its trusteeTrustee) and the settlor Settlor of the trust Trust to notify the Credit Union when a trust Trust for which an account has been opened has been revoked, rescinded, revised, or in any way modified.

Distribution of Accounts. If an account is opened for a trustTrust, the trust Trust is the party with which the Credit Union is contracting, and the trust Trust agrees that the Credit Union may distribute funds pursuant to the terms of the most recently dated trust agreement Trust Agreement or Certificate of Trust on file at the Credit Union, and the trustTrust, forever indemnifies and holds the Credit Union harmless for distributions made pursuant to that trust Trust made in good faith reliance on that trust agreement Trust Agreement or Certificate of Trust. The trust Trust further agrees that it is the responsibility of the trust (through its trustee) and the settlor of the trust Trust to notify the Credit Union when a trust Trust for which an account has been opened has been revoked, rescinded, revised, or in any way modified.