Common use of Conditional Credits Clause in Contracts

Conditional Credits. First National may credit an Account with the proceeds from the sale, redemption or other disposition of securities, or interest or dividends or other distributions payable on securities, prior to its actual receipt of final payment; however, all such credits shall be conditional upon First National’s actual receipt of final payment, and shall be reversed to the extent that final payment is not received.

Conditional Credits. First National may credit an Account with the proceeds from the sale, redemption or other disposition of securities, or interest or dividends or other distributions payable on securities, prior to its actual receipt of final payment; however, all such credits shall be conditional upon First National’s 's actual receipt of final payment, and shall be reversed to the extent that final payment is not received.