Banking Resolution Clause Samples

The Banking Resolution clause outlines the procedures and rights of the parties in the event that a bank involved in the agreement is subject to regulatory intervention, insolvency, or resolution measures. Typically, this clause specifies how obligations such as payments, collateral, or account access are handled if a bank is restructured or its operations are transferred to another institution. Its core function is to provide certainty and minimize disruption for the parties by clarifying what happens to their financial arrangements if their banking partner faces regulatory action or failure.
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Banking Resolution. The Member shall open such banking accounts for and in the name of Company as the Member deems necessary and shall enter into such deposit agreements as are required by the financial institutions at which such accounts are opened. The Member and such other person or entities designated in writing by the Member shall have signing authority with respect to such bank accounts. Funds deposited into such accounts shall be used only for the business of the Company.
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Banking Resolution. The Joint-Venturers hereby unanimously authorize the Administrative Joint-Venturer to open one or more banking accounts as the Joint-Venturers deem necessary and to enter into any deposit agreements as are required by the financial institution at which such accounts are opened. The deposit agreements shall require that checks drawn on or withdrawals from such Joint Venture accounts shall require a signature by a representative of each Joint Venturer. Funds deposited into such accounts shall be used only for the business of the Joint Venturer.
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Banking Resolution. The Managers shall open all banking accounts as the Managers deem necessary and enter into any deposit agreements as are required by the financial institution at which such accounts are opened. The Managers and such other persons or entities designated in writing by the Managers shall have signing authority with respect to such bank accounts. Funds deposited into such accounts shall be used only for the business of the Company.
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Banking Resolution. The Members hereby authorize relevant officers of the Company to open and/or maintain all banking accounts as they deem necessary and to enter into any deposit agreements as are required by the financial institution at which such accounts are opened. The Executive Committee shall determine the individuals who shall have signing authority with respect to such banking accounts. Funds deposited into such accounts shall be used only for the business of the Company.
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Banking Resolution. The Board shall designate, by resolution, the Directors (minimum of two with one Director representing each Party) and other persons authorized to transact the banking business of the Association, or any part thereof, with the bank, trust company, or other corporation carrying on a banking business that the Board has designated as the banker of the Association, to have the authority to set out in the resolution, including, unless otherwise restricted, the power to: a) operate the accounts of the Association with a bank or a trust company; b) make, sign, draw, accept, endorse, negotiate, lodge, deposit or transfer any of the cheques, promissory notes, drafts, acceptances, bills of exchange and orders for the payment of money; c) issue receipts for and orders relating to any property of the Association; d) authorize any officer of the bank or trust company to do any act or thing on behalf of the Association to facilitate the business of the Association.
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Banking Resolution. The Members hereby unanimously authorize the Manager to open all banking accounts as its deems necessary and to enter into any deposit agreements as are required by the financial institution at which such accounts are opened. The Manager and any of its representatives designated in writing shall have signing authority with respect to such banking accounts. Checks shall be drawn upon the Company account or accounts only for the purposes of the Company and shall be signed by duly authorized representatives of the Company designated by the Manager with the approval of the Members. All checks of an amount of USD $ 10,000 or more must be signed jointly by two authorized representatives of the Company. The funds of the Company shall not be commingled with the funds of any other individual or legal entity. Funds deposited into such accounts shall be used only for the business of the Company.
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Banking Resolution. The Members hereby unanimously authorize the Manager to open all banking accounts as its deems necessary and to enter into any deposit agreements as are required by the financial institution at which such accounts are opened. The Manager and any of its representatives designated in writing shall have signing authority with respect to such banking accounts. Checks shall be drawn upon the Company account or accounts only for the purposes of the Company and shall be signed by duly authorized representatives of the Company designated by the Manager with the approval of the Members. All checks of an amount of USD $ 10,000 or more must be signed jointly by two authorized representatives of the Company. The funds of the Company shall not be commingled with the funds of any other individual or legal entity. Funds deposited into such accounts shall be used only for the business of the Company.
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Related to Banking Resolution

  • Authorizing Resolutions Notwithstanding the foregoing provisions of this section 5.1, an Authorizing Resolution may limit the authority of the Manager and/or confer voting rights on Investor Members.

  • Issue Resolution For resolution of issues between CONTRACTOR and ADMINISTRATOR with respect to the 17 implementation and operation of this Agreement or COUNTY’s policies and procedures regarding 18 services described herein, the following sequential steps shall apply:

  • Error Resolution If you believe that you did not authorize an electronic fund transaction, if you need a copy of a transaction receipt from a Merchant, if you think your statement or receipt is wrong, or if you need more information about a transaction listed on the statement or receipt, you should call or write us at the phone number or address shown at the end of these Regulatory Disclosures under “UMB Contact Information” You should report errors no later than sixty (60) days after information is available to you on your periodic statement or in your electronic statement information concerning the transaction that you believe to be in error or which you believe is a problem. Include the following information: (a) your name and your HSA Deposit Account number; (b) describe the error or the transaction you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information; and (c) the dollar amount of the suspected error. If you tell us orally, we may require that you send us your complaint or questions in writing within ten (10) business days. We will determine whether an error occurred within ten (10) business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your account within ten (10) business days for the amount you think is in error so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within ten (10) business days, we may not credit your account. For errors involving new accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error. We will tell you the results within three (3) business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation.

  • Problem Resolution The parties shall meet and attempt to resolve all disputes and differences that may arise between the parties hereto concerning construction, interpretation, performance, operations, or breach of the matters referred to in this Agreement prior to seeking any legal remedy.

  • Grievance Resolution If a grievance is resolved at Step 2 or 3 in the procedure as provided herein, the grievant concerned shall indicate acceptance of the resolution by affixing his/her signature in the appropriate space indicated. If the employee has been represented by the Union at the Step of the procedure at which a resolution is reached, the Union representative shall also sign the appropriate document acknowledging that the employee has accepted the resolution. Decisions on grievances where an employee represents him/herself shall not be considered precedent setting or binding with regard to any future grievances filed with respect to the same or similar matters.