Joint Deposit Accounts Sample Clauses

Joint Deposit Accounts. A joint deposit account is a deposit account in the name of two or more persons. The joint deposit accounts that we offer are with the right of survivorship, and not as tenants in common. You understand that if money is held jointly in this type of deposit account (subject to any pledge of those funds that we have agreed to), that upon the death of one joint deposit account owner the funds will belong to the surviving owner(s). If two or more joint deposit account owners survive the death of another, they will own the balance in the deposit account as joint tenants with survivorship and not as tenants in common. Each joint deposit account owner has the right to withdraw, at any time, some or all of the funds from the deposit account without the permission of the other joint deposit account owners. You understand that as a joint owner of the deposit account, all of you are considered jointly and severally liable to us for the entire amount of any obligation (such as any fees or overdrafts on your deposit account) or liability to us regarding the deposit account, or for any Losses regarding the deposit account. Each joint owner appoints the other(s) as his/her agent to deposit, withdraw and transfer funds, instruct us to stop payment on any check or item drawn on the deposit account and to release or cancel stop payment requests (even if not initiated by him/her), obtain any and all information from us about the deposit account, and conduct any and all other business on the joint deposit account including, but not limited to, pledging or encumbering the deposit account (where we may allow you to do so), or closing the deposit account. You understand and agree that we may honor checks drawn by or withdrawal requests from any joint deposit account owner. Acting as an agent, any joint owner can endorse checks, drafts or other payment orders made out to any other joint owner for deposit into the joint deposit account. However, if a joint deposit account owner provides us with such written notice, we reserve the right to require the written authorization of any or all joint deposit account owners for any future transactions on the deposit account. Any joint owner or owners may appoint an attorney-in-fact for the deposit account, but we reserve the right to require the consent of all joint owners before allowing such an appointment. All such appointments of an attorney-in-fact must be done in compliance with the requirements of the section of this Agreement dealin...
Sample 1
AutoNDA by SimpleDocs

Related to Joint Deposit Accounts

  • Definitions For purposes of this Agreement:

  • Termination This Agreement may be terminated at any time prior to the Closing:

  • General The Trustee shall keep proper books of record and account of all the transactions of each Trust under this Indenture at its corporate trust office, including a record of the name and address of, and the Units issued by each Trust and held by, every Unit holder, and such books and records of each Trust shall be open to inspection by any Unit holder of such Trust at all reasonable times during the usual business hours. The Trustee shall make such annual or other reports as may from time to time be required under any applicable state or federal statute or rule or regulations thereunder.

  • Entire Agreement This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter contained in this Agreement and supersedes all prior agreements, understandings and negotiations between the parties.

  • Severability Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

  • WHEREAS the Company desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing to so act, in connection with the issuance, registration, transfer, exchange, redemption and exercise of the Warrants; and

  • Notices Any notice, request or other document required or permitted to be given or delivered to the Holder by the Company shall be delivered in accordance with the notice provisions of the Purchase Agreement.

  • IN WITNESS WHEREOF the parties hereto have executed this Agreement as of the day and year first above written.

  • NOW, THEREFORE the parties hereto agree as follows:

Time is Money Join Law Insider Premium to draft better contracts faster.