Common use of EXECUTIVE MERIT Clause in Contracts

EXECUTIVE MERIT. Executive merit shall be provided by the certifications issued by THE BANK and reviewed by the Authorized Public Accountant, in which THE BANK makes of record the credit balance(s) appearing in its accounting books against THE CUSTOMER with respect to any BANKING SERVICE (S) covered under this BANKING PRODUCTS AND SERVICES AGREEMENT. THE CUSTOMER waives the executive judgment proceedings in the event that THE BANK shall appeal to the courts to assert its rights.