Common use of Types of Transfers Clause in Contracts

Types of Transfers. You may make one-time transfers or schedule future or recurring transfers. You may schedule transfers for the purpose of paying loan accounts with Bank. You may make transfers from a line of credit account to a Deposit Account, but you may not make a transfer from one line of credit to another line of credit. You also may, with loan officer approval, make draws on certain other loans to a Deposit Account, but you may not make a draw on a loan to credit another loan.

Types of Transfers. You may make one-time transfers or schedule future or recurring transfers. You may schedule transfers for the purpose of paying loan accounts with Bank. You may make transfers from a line of credit account to a Deposit Account, but you may not make a transfer from one line of credit to another line of credit. You also may, with loan officer approval, make draws on certain other loans to a Deposit Account, but you may not make a draw on a loan to credit another loan.