Demand Deposit Account definition

Demand Deposit Account or “DDA” means an account which may or may not be interest-bearing for which available funds are payable on demand with no notice restrictions and no ownership eligibility restrictions.

Demand Deposit Account shall have the meaning ascribed to such term in Section 4.3 hereof.

Demand Deposit Account means Borrower’s demand deposit account No. 112-788964 maintained with CNB.

Examples of Demand Deposit Account in a sentence

• A balance credit equal to 75% of the 90 day CD rate in effect the last business day of each month will be applied to the Custodian Demand Deposit Account balance of each fund, net of check redemption service overdrafts, on a pro-rated basis against the fund's custodian fee, excluding out-of-pocket expenses.

• RECON (Reconciliation) - application automating bank DDA (Demand Deposit Account) reconciliation.

• The Member hereby authorizes the Bank to debit the Demand Deposit Account for all amounts due and payable to the Bank on any Advance or other indebtedness.

• If the amount in the Demand Deposit Account is, at any time, insufficient to pay such due and payable amounts, the Bank may, without notice to the Member, apply any other funds or assets then in the possession of the Bank to the payment of such amounts.

• In order to effectuate the sale of additional Capital Stock required due to such changes in terms, the Bank is authorized to issue Capital Stock in the name of a Member and to withdraw appropriate payment from the Member’s Demand Deposit Account.

More Definitions of Demand Deposit Account

Demand Deposit Account shall have the meaning ascribed to such term in Section 2.2.

Demand Deposit Account means the demand deposit account #2000014656529 or any other demand deposit account maintained by Borrower with Bank or the DDA Account as defined in the Services Agreement.

Demand Deposit Account or “DDA” means an account which may or may not be interest-bearing for which available funds are payable on demand with no notice restrictions and no ownership eligibility restrictions. “Financial Service” means a Deposit Account, overdraft credit account, Funds Transfer Service, or any other financial product or service available through the Bank.

Demand Deposit Account means a KBC deposit account from which you can, subject to the terms and conditions of the account, withdraw your money from the account at any time without notice.

Demand Deposit Account means any Account with no stated maturity or required notice period prior to withdrawal or with a stated maturity or required notice period prior to withdrawal of less than seven

Demand Deposit Account means account number *** in the name of Borrower maintained at the Administrative Agent, or such other demand deposit account as may be established by Borrower and maintained at the Administrative Agent from time to time.

Demand Deposit Account means the demand deposit account established and maintained by Borrower with Bank pursuant to Section 2.4(b).