Common use of Resolving Account Disputes Clause in Contracts

Resolving Account Disputes. We may freeze or hold a portion of or all the funds in your account or suspend transaction activity in your account if (1) your account becomes subject to a claim adverse to your own interest, whether by other signers or others claiming signing authority or an interest, as survivors, beneficiaries, or otherwise, in your account; or (2) for accounts of non-natural persons, we are unable to determine who is authorized to speak or act on behalf of the account holder; or (3) your account becomes subject to a claim arising by operation of law; or (4) the Bank, in exercise of its discretion, determines that there is a risk of claim against or loss to the Bank arising from transactions in any account with the Bank that you own or control. The freeze or hold may last an undetermined amount of time and continue for an amount of time sufficient for us to determine a resolution of the issues or for a judicial (or other binding) determination to be made of the claims or issues. We may require that you obtain such judicial (or other binding) determination between yourself and competing claimants, and we shall not be required to participate as a party to such proceedings. We may in any event, in our sole discretion, choose to close the account and send the funds to the owner or owners of the account, according to our records, at the statement mailing address or deliver the property to the owner or owners of the property. You agree that we will not be responsible for damages or losses you may incur because of items that are not paid, funds that are not available, or deposits that are refused during the freeze or hold or after the account is closed.

Resolving Account Disputes. We may freeze or hold on a portion of or all the funds in your account account, or suspend transaction activity in your account if (1) your account becomes subject to a claim adverse to your own interest, whether by other signers or others claiming signing authority or an interest, as survivors, beneficiaries, or otherwise, in your account; or (2) for accounts of non-natural persons, we are unable to determine who is authorized to speak or act on behalf of the account holder; or (3) your account becomes subject to a claim arising by operation of law; or (4) the Bank, in exercise of its discretion, determines that there is a risk of claim against or loss to the Bank arising from transactions in any account with the Bank that you own or control. The freeze or hold may last an undetermined amount of time and continue for an amount of time sufficient for us to determine a resolution of the issues or for a judicial (or other binding) determination to be made of the claims or issues. We may require that you obtain such judicial (or other binding) determination between yourself and competing claimants, and we shall not be required to participate as a party to such proceedings. We may in any event, in our sole discretion, choose to close the account and send the funds to the owner or owners of the account, according to our records, at the statement mailing address or deliver the property to the owner or owners of the property. You agree that we will not be responsible for damages or losses you may incur because of items that are not paid, funds that are not available, or deposits that are refused during the freeze or hold or after the account is closed.