Common use of Transfer to Third Parties Clause in Contracts

Transfer to Third Parties. Funds deposited in the Account shall not be pledged, assigned or transferred to third parties or institutions as a guarantee for loans or other obligations, except when authorized in writing by the Bank.

Transfer to Third Parties. Funds deposited in the Account shall not be pledged, pledged or assigned or transferred to third parties persons or institutions as a guarantee for loans or and other obligations, obligations except when authorized as accepted in writing by the Bank.