HOLD ON ACCOUNTS OR TRANSACTIONS Sample Clauses

The "Hold on Accounts or Transactions" clause allows a financial institution or service provider to temporarily restrict access to funds or suspend specific transactions within an account. In practice, this may occur if there is suspected fraudulent activity, a legal dispute, or regulatory requirements that necessitate freezing assets or delaying payments. The core function of this clause is to protect both the institution and account holders from potential losses or legal complications by providing a mechanism to pause account activity when necessary.
HOLD ON ACCOUNTS OR TRANSACTIONS. The Financial Institution may place a hold on: a) the proceeds of an Instrument presented by the Depositor until the Financial Institution accepts payment of, or remittance for, such Instrument; and. b) the Account generally if i) the Financial Institution becomes aware of suspicious or possible fraudulent or unauthorized Account activity that may cause a loss to the Depositor, the Financial Institution, Central 1, or an identifiable Third Party; ii) an issue arises as to who the proper signing authorities are on the Account; or iii) a claim is made by a Third Party to the funds in the Account which, in the Financial Institution’s sole discretion, is potentially legitimate. The Depositor authorizes the Financial Institution to make such inquiries and do such things, at the Depositor’s expense, as the Financial Institution deems necessary to resolve any of the issues noted above, including applying, at the Depositor’s expense, to a court of competent jurisdiction (a “Court”) to pay funds into Court and/or seek directions from a Court.
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HOLD ON ACCOUNTS OR TRANSACTIONS. The Financial Institution may place a hold on the Account if: a) the Financial Institution becomes aware of suspicious or possible fraudulent or unauthorized Account activity that may cause a loss to the Depositor, the Financial Institution, Central 1, or an identifiable Third Party; b) an issue arises as to who the proper signing authorities are on the Account; or c) a claim is made by a Third Party to the funds in the Account which, in the Financial Institution’s sole discretion, is potentially legitimate. The Depositor authorizes the Financial Institution to make such inquiries and do such things, at the Depositor’s expense, as the Financial Institution deems necessary to resolve any of the issues noted above, including applying, at the Depositor’s expense, to a court of competent jurisdiction (a “Court”) to pay funds into Court and/or seek directions from a Court. The Depositor agrees to indemnify the Financial Institution for any expense or cost incurred by the Financial Institution arising from the need to place a hold on the Account or Transactions, including but not limited to expenses incurred relating to an application to a Court. If the Depositor is requested and fails to do so, the Financial Institution may, in its sole discretion, close or place a hold on the Account, free of any responsibility or liability for unprocessed Transactions during such time. Any credit to the Account for any non-cash Instrument is provisional and subject to a hold or reversal unless the Financial Institution has received actual irrevocable payment, free of any Third Party claims.
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HOLD ON ACCOUNTS OR TRANSACTIONS. DUCA may place a hold on: a) the proceeds of an Instrument presented by the Member until DUCA accepts payment of, or remittance for, such Instrument; and. b) the Account generally if i) DUCA becomes aware of suspicious or possible fraudulent or unauthorized Account activity that may cause a loss to the Member, DUCA, Central 1, or an identifiable Third Party; ii) an issue arises as to who the proper signing authorities are on the Account; or iii) a claim is made by a Third Party to the funds in the Account which, in ▇▇▇▇’▇ sole discretion, is potentially legitimate. The Member authorizes DUCA to make such inquiries and do such things, at the Member’s expense, as DUCA deems necessary to resolve any of the issues noted above, including applying, at the Member’s expense, to a court of competent jurisdiction (a “Court”) to pay funds into Court and/or seek directions from a Court.
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HOLD ON ACCOUNTS OR TRANSACTIONS. BlueShore Financial may place a Hold on the Accounts or Transaction if any of the following occurs: (a) BlueShore Financial becomes aware of any Suspicious Circumstances; (b) an issue arises as to who are the proper signing authorities on the Accounts; (c) a claim is made by a Third Party to the funds in the Accounts which, in our discretion, is potentially legitimate; (d) BlueShore Financial, in its discretion, determines that it has received conflicting Instructions from you on the Accounts; or (e) BlueShore Financial is given written notice of the death or incapacity of any joint Account holder, or is notified that an Account ceases to be jointly held. You authorize us to make such inquiries and do such things, at your expense, as we deem necessary to resolve any of these issues, including applying at your expense to a Court to pay funds into Court or seek directions from a Court. You agree to indemnify BlueShore Financial for any expense or cost incurred by BlueShore Financial arising from the need to place a Hold on the Accounts or Transactions, including legal and other expenses incurred relating to an application to a Court. Any Hold imposed by us pursuant to any of the terms of this Agreement, or investigation undertaken by us, is imposed or undertaken by us in our discretion and for our sole benefit. Release of a Hold by us is not a confirmation that a Transaction, Instruction or Instrument is in fact good and may not be relied upon as such by you. We are not liable for any Loss or damage of any kind, for any unprocessed Transactions otherwise related to a Hold imposed while exercising our rights under this Agreement or as otherwise required or permitted by law.
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Related to HOLD ON ACCOUNTS OR TRANSACTIONS

  • Set Up Accounts (a) Bank shall establish and maintain the following accounts ("Accounts"): (i) a Securities Account in the name of Customer on behalf of each Fund for Financial Assets, which may be received by Bank or its Subcustodian for the account of Customer, including as an Entitlement Holder; and (ii) an account in the name of Customer ("Cash Account") for any and all cash in any currency received by Bank or its Subcustodian for the account of Customer. Notwithstanding paragraph (ii), cash held in respect of those markets where Customer is required to have a cash account in its own name held directly with the relevant Subcustodian shall be held in that manner and shall not be part of the Cash Account. Bank shall notify Customer prior to the establishment of such an account. (b) At the request of Customer, additional Accounts may be opened in the future, which shall be subject to the terms of this Agreement. (c) Except as precluded by Section 8-501(d) of the Uniform Commercial Code ("UCC"), Bank shall hold all Securities and other Financial Assets, other than cash, of a Fund that are delivered to it in a "securities account" with Bank for and in the name of such Fund and shall treat all such assets other than cash as "financial assets" as those terms are used in the UCC.

  • Deposit Accounts and Securities Accounts Set forth on Schedule 4.15 (as updated pursuant to the provisions of the Security Agreement from time to time) is a listing of all of the Loan Parties’ and their Subsidiaries’ Deposit Accounts and Securities Accounts, including, with respect to each bank or securities intermediary (a) the name and address of such Person, and (b) the account numbers of the Deposit Accounts or Securities Accounts maintained with such Person.

  • Cash Accounts, Deposits and Money Movements Subject to the terms and conditions set forth in this Section 7, the Fund hereby authorizes the Custodian to open and maintain, with itself or with Subcustodians, cash accounts in United States Dollars, in such other currencies as are the currencies of the countries in which the Fund maintains Investments or in such other currencies as the Fund shall from time to time request by Instruction.

  • Cash Accounts The Custodian will open and maintain in the name of the Client one or more cash deposit accounts (each a “Cash Account”) in such currencies as may be required in connection with the investment activity of the Client.

  • Deposit Accounts; Securities Accounts The only Deposit Accounts or Securities Accounts maintained by any Grantor on the date hereof are those listed on Schedule 6 (Bank Accounts; Control Accounts), which sets forth such information separately for each Grantor.