Opening Allocated Account Sample Clauses
The 'Opening Allocated Account' clause establishes the requirement and procedure for setting up a specific account designated for holding or managing certain funds or assets under an agreement. Typically, this clause outlines who is responsible for opening the account, the timing for its establishment, and any conditions or documentation needed to activate it. Its core practical function is to ensure that all parties have a clear, agreed-upon mechanism for segregating and tracking funds or assets, thereby reducing the risk of commingling and ensuring transparency in financial transactions.
Opening Allocated Account. The Custodian shall open and maintain the Allocated Account in the name of the Trustee (in its capacity as trustee for the Shareholders).
Opening Allocated Account. We shall open and maintain the Allocated Account in your name, as trustee of the Trust, and we agree to hold Bullion for you on an allocated basis in the Allocated Account on the terms of this Agreement.
Opening Allocated Account. The Custodian shall open and maintain the Fund Allocated Account for each Fund.