Common use of Facility Accounts Clause in Contracts

Facility Accounts. If we make your loan available on one account only, that account is a facility account. We may have agreed to your request to divide the total amount of your loan into separate accounts. If so, the schedule sets out the particulars for each account. Each account is a facility account. We will assign an account number to each facility account. We will notify you in writing of each facility account number for a facility account after the settlement date for the account.