External Deposit Accounts definition

External Deposit Accounts means deposit accounts, as permitted by section 7.16 hereof, which are maintained by any of the Credit Parties with domestic or foreign banking institutions other than the Agent, the Banks, Bank Affiliates and Persons executing Agency Agreements, the aggregate balance in such accounts at any time not exceeding $5,000,000 (or the Dollar Equivalent thereof).
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Examples of External Deposit Accounts in a sentence

  • You also authorize the Credit Union to request information regarding you and your External Deposit Accounts from other third party sources to verify your identity, account ownership, protect against fraud, confirm your pattern of use or exceptional use, comply with applicable law or otherwise as is reasonably necessary to provide the External Funds Transfer Service to you.

  • You agree to provide true, accurate, current, and complete information about yourself and your External Deposit Accounts held at other financial institutions and you agree to not misrepresent your identity or your deposit account information.

  • You represent and warrant your Accounts held at the Credit Union and the External Deposit Accounts held at another financial institution that utilize this service are held in the same name or legal capacity or you have the authority to make deposits and withdrawals.

  • You hereby represent and warrant to the Credit Union you own each of your External Deposit Accounts, verified such accounts, and have full right and authority to all of the funds on deposit therein.

  • Enrollment of External Deposit Accounts is subject to our approval, which may be withheld in our sole discretion.

  • Within the Service, you may separately enroll to transfer funds between your Community First Credit Union of Florida personal checking and savings accounts and your External Deposit Accounts.

  • The Borrower shall cause the aggregate Dollar Amount of all cash and Cash Equivalents held, owned or maintained by or for the Borrower and the other Credit Parties (exclusive of Excluded Deposit Accounts and the External Deposit Accounts) at all times to be less than $10,000,000, and the Borrower shall, and shall cause each other Credit Party to, repay on a daily basis the Revolving Loans by the amount by which such aggregate cash and Cash Equivalents exceeds $10,000,000.

  • When you register for this service, you also authorize the Credit Union to obtain information from any financial institution(s) holding your External Deposit Accounts in order to confirm your access to and/or ownership of the External Deposit Accounts.

  • The Credit Union is under no obligation to you, or any other person, to verify or confirm your identity, registration information, or your ownership of the External Deposit Accounts; or to confirm that your Accounts held at the Credit Union and the External Deposit Accounts at another financial institution are held in the same name and/or legal capacity.

  • You understand some financial institutions holding your verified External Deposit Accounts may not investigate discrepancies between names and numbers.