Common use of Freezing of Accounts Clause in Contracts

Freezing of Accounts. We may suspend or freeze your account if we believe your account is involved in or affected by legal proceedings or if there is a dispute as to ownership of your account, until the matter is resolved to our satisfaction. We will not be liable for suspending your account so long as we acted in good faith and in accordance with the law. Conflicting Claims. If we believe conflicting claims have been made to the funds in your account, we may deposit the balance of the account, less amounts due to us, with an appropriate court and ask the court to resolve the conflicting claims. We are entitled to recover the cost of taking this action, including attorneys’ fees, from you.

Freezing of Accounts. We may suspend or freeze your account if we believe your account is involved in or affected by legal proceedings or if there is a dispute as to ownership of your account, until the matter is resolved to our satisfaction. We will not be liable for suspending your account so long as we acted in good faith and in accordance with the law. Conflicting Claims. If we believe conflicting claims have been made to the funds in your account, we may deposit the balance of the account, less amounts due to us, with an appropriate court and ask the court to resolve the conflicting claims. We are entitled to recover the cost of taking this action, including attorneys’ fees, from you.. NON-ASSIGNABILITY