Common use of Legal Processes Affecting Business Savings Accounts Clause in Contracts

Legal Processes Affecting Business Savings Accounts. If legal action such as a garnishment, levy or other state or federal legal process (“Legal Process”) is brought against the Business Savings Account, we may refuse to permit (or may limit) transfers from it until the Legal Process is satisfied or dismissed. Regardless of the terms of such garnishment, levy or other state or federal process, we have first claim to any and all funds in your Business Savings Account. We will not contest on your behalf any such Legal Process and may take action to comply with such Legal Process as we determine to be appropriate in the circumstances without liability to you, even if any funds we may be required to pay out leaves insufficient funds for a transfer you have authorized. Payment is made after satisfying any fees, charges or other debts owed to us. You agree that you are responsible for any expenses, including legal expenses and fees we incur due to any Legal Process affecting your Business Savings Account. We may charge these expenses to your Business Savings Account. You will indemnify us for any losses if we do this.