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.
Appears in 8 contracts
Samples: Account Agreement, Account Agreement, Account Agreement
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-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.
Appears in 2 contracts
Samples: Account Agreement, Account Agreement
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 above noted aboveissues, 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.
Appears in 1 contract
HOLD ON ACCOUNTS OR TRANSACTIONS. The Financial Institution may place a hold on the Account if:place
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.
Appears in 1 contract
Samples: Joint Venture Agreement
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
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-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.. 5.3
Appears in 1 contract
Samples: Account Agreement
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 's sole discretion, is potentially legitimate. The Depositor authorizes the Financial Institution to make such inquiries and do such things, at the Depositor’s 's expense, as the Financial Institution deems necessary to resolve any of the issues above noted aboveissues, including applying, at the Depositor’s '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.
Appears in 1 contract
Samples: Account Agreement
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 Partythird 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 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 above noted aboveissues, 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.
Appears in 1 contract
Samples: Account Agreement
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;Financial
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.
Appears in 1 contract
Samples: Account Agreement
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 Partythird 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 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 above noted aboveissues, 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-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.
Appears in 1 contract
Samples: Account Agreement