Examples of Master Account Agreement in a sentence
A copy of the Master Account Agreement, this Circular, any other account agreement, amendments thereto, and a copy of the relevant portions of the minutes of the meeting(s) at which the Financial Institution’s governing body authorized execution of the account agreement(s), shall at all times be kept together in one place.
Each Master Account Agreement is subject to approval by the Financial Institution’s Administrative Reserve Bank.
A Reserve Bank may terminate a Master Account Agreement (Appendix 1), Transaction and Service Fee Settlement Authorization (Appendix 2), Pass- Through Agreement (Appendix 3), or any Other Account Agreement at any time by notice to the Account Holder but will endeavor to give not less than five business days prior notice.
Any executed and accepted Master Account Agreement (Appendix 1), Transaction and Service Fee Settlement Authorization (Appendix 2), Pass-Through Agreement (Appendix 3), or other agreement executed by an Authorized Individual of a Financial Institution and relating to a Financial Institution’s Master Account (Other Account Agreement) is binding on its successors and assigns, and continues in effect until amended or terminated as provided in this Circular or otherwise provided in the agreement.
In reaching the above conclusions, the court rejects the three arguments raised by plaintiffs: (1) plaintiffs never received the Master Account Agreement and/or the Client Relationship Agreement that outlines the actual text of the arbitration clause, (2) the reference to arbitration in the Corporate Agreement is ambiguous, and (3) the relevant contracts are illusory.