Common use of Government Unit Deposits Clause in Contracts

Government Unit Deposits. The requirements for deposit insurance coverage of the deposits of the United States government, state, county and municipal governments and their political subdivisions; the District of Columbia and the Commonwealth of Puerto Rico are specifically set forth in regulations of the FDIC (12 C.F.R. 330.15). In general, and except as explained in Section 4(b) above, such deposits will be insured up to the SMDIA, and individual departments and political subdivisions within a governmental unit may be eligible for separate insurance if certain requirements are met. The use of separate tax identification numbers by different departments or political subdivisions of the same governmental unit will not by itself cause the deposits of such departments or political subdivisions to be eligible for separate FDIC insurance. It is the obligation of each governmental entity to determine whether the requirements for deposit insurance have been met. Neither we, Promontory, nor the Insured Institutions issuing CDs to you are responsible for uninsured losses resulting from placement of funds that are not eligible for deposit insurance.

Government Unit Deposits. The requirements for deposit insurance coverage of the deposits of the United States government, state, county and municipal governments and their political subdivisions; subdivi- sions, the District of Columbia and the Commonwealth of Puerto Rico are specifically set forth in regulations of the FDIC (12 C.F.R. 330.15). In general, and except as explained in Section 4(b) above, such deposits will be insured up to the SMDIA, SMDIA and individual departments and political subdivisions within a governmental unit may be eligible for separate insurance if certain requirements require- ments are met. The use of separate tax identification numbers by different departments depart- ments or political subdivisions of the same governmental unit will not nor by itself cause the deposits of such departments or political subdivisions to be eligible for separate FDIC insurance. It is the obligation of each governmental entity to determine whether the requirements require- ments for deposit insurance have been met. Neither we, PromontoryXxxxxxxxxx, nor the Insured Institutions insured Institution issuing CDs to you are responsible for uninsured losses resulting from placement of funds that are not eligible for deposit insurance.

Government Unit Deposits. The requirements for deposit insurance coverage of the deposits of the United States government, state, county and municipal governments and their political subdivisions; the District of Columbia and the Commonwealth of Puerto Rico are specifically set forth in regulations of the FDIC (12 C.F.R. 330.15). In general, and except as explained in Section 4(b) above, such deposits will be insured up to the SMDIA, and individual departments and political subdivisions within a governmental unit may be eligible for separate insurance if certain requirements are met. The use of separate tax identification numbers by different departments or political subdivisions of the same governmental unit will not by itself cause the deposits of such departments or political subdivisions to be eligible for separate FDIC insurance. It is the obligation of each governmental entity to determine whether the requirements for deposit insurance have been met. Neither we, PromontoryXxxxxxxxxx, nor the Insured Institutions issuing CDs to you are responsible for uninsured losses resulting from placement of funds that are not eligible for deposit insurance.