Common use of Establishment of Accounts; Availability of Funds Clause in Contracts

Establishment of Accounts; Availability of Funds. (i) Republic shall establish and maintain at Republic a segregated account for the benefit of Customers (each, a “Deposit Account”), which account shall conform to the requirements of 12 C.F.R. 330.5 so as to afford such customers FDIC insurance with respect to such Deposit Accounts. Upon notification to Liberty that a RAL has been approved or that an ERC or ERD has been funded, Republic shall transfer the amount of the net loan proceeds or net refund, respectively, to the Deposit Account. All disbursements to Customers shall be drawn on the Deposit Account and shall be paid promptly upon presentment. Republic shall make all disbursements in the manner elected by the Customer, as set forth in the Application. Republic shall have the right to offset against the Deposit Account all fees and charges authorized by the Customer to be paid to Republic, the ERO or otherwise pursuant to such Customer’s Application for a Financial Product in an amount up to the amount of the Financial Product.

Establishment of Accounts; Availability of Funds. (ia) Republic shall establish and maintain at Republic a segregated account for the benefit of Republic Customers (each, a “Deposit Account”), which account shall conform to the requirements of 12 C.F.R. 330.5 so as to afford such customers Customers FDIC insurance with respect to such Deposit Accounts. Upon notification to Liberty JHI that a RAL has been approved or that an ERC or ERD AR has been funded, Republic shall transfer the amount of the net loan proceeds or net refund, respectively, to the Deposit Account. All disbursements to Republic Customers shall be drawn on the Deposit Account and shall be paid promptly upon presentment. Republic shall make all disbursements in the manner elected by the Republic Customer, as set forth in the ApplicationApplication and Loan Agreement. Republic shall have the right to offset against the Deposit Account all fees and charges authorized by the Republic Customer to be paid to Republic, the ERO or otherwise pursuant to such Customer’s Application and Loan Agreement for a Financial Product in an amount up to the amount of the Financial Product.

Establishment of Accounts; Availability of Funds. (ia) Republic shall establish and maintain at Republic a segregated account for the benefit of Customers Republic customers (each, a “Deposit Account”), which account shall conform to the requirements of 12 C.F.R. 330.5 so as to afford such customers FDIC insurance with respect to such Deposit Accounts. Upon notification to Liberty JHI that a RAL has been approved or that an ERC or ERD AR has been funded, Republic shall transfer the amount of the net loan proceeds or net refund, respectively, to the Deposit Account. All disbursements to Customers Republic customers shall be drawn on the Deposit Account and shall be paid promptly upon presentment. Republic shall make all disbursements in the manner elected by the CustomerRepublic customer, as set forth in the ApplicationApplication and Loan Agreement. Republic shall have the right to offset against the Deposit Account all fees and charges authorized by the Customer Republic customer to be paid to Republic, the ERO or otherwise pursuant to such Customercustomer’s Application and Loan Agreement for a Financial Product in an amount up to the amount of the Financial Product.