Common use of No Overdrafts Clause in Contracts

No Overdrafts. The Account may not be overdrawn. If the available balance in the Account is insufficient to cover any authorized payment, withdrawal, or check, we can refuse to honor the payment, withdrawal, or check. If the Account balance should become negative for any reason, a deposit or deposits must be immediately made to cover the negative balance. If the Account has a negative balance for ninety (90) calendar days, it will be closed.

Appears in 5 contracts

Samples: Business Deposit Account Agreement, Business Deposit Account Agreement, Business Deposit Account Agreement

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