Common use of Other Adverse Claims Clause in Contracts

Other Adverse Claims. If we receive notice of an actual or potential adverse claim to your Account or the funds in it, we may in our discretion refuse to pay out any money from your Account for a reasonable period of time after receipt of notice of the actual or potential claim. Although we reserve the right to refuse to pay out any money from your Account if we receive notice of an actual or potential claim, we are not required to recognize any adverse claim unless: 1. the claimant provides us with an acceptable bond indemnifying us against any and all liabilities, losses, damages, costs, and expenses that we might incur in connection with payment of the adverse claim and any resulting dishonored items, 2. the claimant has obtained an order from a court of competent jurisdiction in a case in which you are a party and have been served with a summons, or jurisdiction has been invoked by other authorized means, or 3. you act as a fiduciary for the claimant and the claimant gives us an affidavit setting forth the nature of the fiduciary relationship and the facts upon which the claimant has reasonable cause to believe that you are about to misappropriate the funds.

Other Adverse Claims. If we receive notice of an actual or potential adverse claim to your Account account or the funds in it, we may in our discretion refuse to pay out any money from your Account account for a reasonable period of time after receipt of notice of the actual or potential claim. Although we reserve the right to refuse to pay out any money from your Account account if we receive notice of an actual or potential claim, we are not required to recognize any adverse claim unless: (1. ) the claimant provides us with an acceptable bond indemnifying us against any and all liabilities, losses, damages, costs, and expenses that we might incur in connection with payment of the adverse claim and any resulting dishonored items, claim, (2. ) the claimant has obtained an order from a court of competent jurisdiction in a case in which you are a party and have been served with a summons, or jurisdiction has been invoked by other authorized means, or or (3. ) you act as a fiduciary for the claimant and the claimant gives us an affidavit setting forth the nature of the fiduciary relationship and the facts upon which the claimant has reasonable cause to believe that you are about to misappropriate the funds.

Other Adverse Claims. If we receive notice of an actual or potential adverse claim to your Account account or the funds in it, we may in our discretion refuse to pay out any money from your Account account for a reasonable period of time after receipt of notice of the actual or potential claim. Although we reserve the right to refuse to pay out any money from your Account account if we receive notice of an actual or potential claim, we are not required to recognize any adverse claim unless: 1. the claimant provides us with an acceptable bond indemnifying us against any and all liabilities, losses, damages, costs, and expenses that we might incur in connection with payment of the adverse claim and any resulting dishonored items, 2. the claimant has obtained an order from a court of competent jurisdiction in a case in which you are a party and have been served with a summons, or jurisdiction has been invoked by other authorized means, or 3. you act as a fiduciary for the claimant and the claimant gives us an affidavit setting forth the nature of the fiduciary relationship and the facts upon which the claimant has reasonable cause to believe that you are about to misappropriate the funds.