Common use of Indirect Account Holder Clause in Contracts

Indirect Account Holder. An indirect account holder is any account holder who does not have a direct relationship with XX. For example, a person that holds an account with a foreign intermediary or an interest in a foreign flow-through entity which, in turn, has a direct relationship with QI is an indirect account holder of QI. A person is an indirect account holder even if there are multiple tiers of intermediaries or flow- through entities between the person and QI.

Indirect Account Holder. An indirect account holder is any account holder person who receives amounts from QI but who does not have a direct relationship with XX. For example, a person that holds an account with a foreign intermediary or an interest in a foreign flow-flow- through entity which, in turn, has a direct relationship with QI is an indirect account holder of QIholder. A person is an indirect account holder even if there are multiple tiers of intermediaries or flow- flow-through entities between the person and QI.

Indirect Account Holder. An indirect account holder is any account holder who does not have a direct relationship with XX, excluding a beneficiary of a trust described in section 2.02(A) of this Agreement. For example, a person that holds an account with a foreign intermediary or that has a direct relationship with XX is an indirect account holder of QI. For chapter 3 and 4 purposes, an indirect account holder also includes a person holding an interest in a foreign flow-through entity which, in turn, that has a direct relationship with QI is an indirect account holder of QI. A person is an indirect account holder even if there are multiple tiers of intermediaries or flow- flow-through entities between the person and QI.