Operational Accounts. SAMPLE In our capacity as custodian of the HSA, we may establish and maintain certain record-keeping sub accounts for the efficient administration and management of the HSA. The HSA may consist of a transactional Negotiable Order of Withdrawal (NOW) sub account and a savings sub account and we may periodically transfer funds between these two sub accounts. Your Bank statement will show a single balance representing the total funds in the two sub accounts. The same interest rate will apply to both sub accounts and interest will be paid on the total account balance regardless of how funds are distributed between the sub accounts.
Operational Accounts. (a) NV will keep a bank account (the “Operational Account”) for the deposit of all the funds generated by the Dispensaries’ operations. NV will be obliged to deposit all the funds generated in the operation in said accounts. NV will provide electronic access to CG to monitor said account. NV will not use any separate account or own funds to defray the operational expenses of the Dispensaries. NV will ensure that sufficient balances are kept in the Operational Account to cover operational expenses. NV must open the Operational Account within thirty (30) days following the Effective Date.
Operational Accounts. In our capacity as custodian of the Account, we may establish and maintain certain record-keeping sub accounts for the efficient administration and management of the Account. The Account may consist of a NOW sub account and a savings sub account and we may periodically transfer funds between these two sub accounts. Your bank statement will show a single balance representing the total funds in the two sub accounts. The same interest rate will apply to both sub accounts and interest will be paid on the total account balance regardless of how funds are distributed between the sub accounts.
Operational Accounts. In our capacity as custodian of the Account, we may establish and maintain certain record-keeping sub accounts for the efficient administration and management of the Account. The Account may consist of a NOW sub account and a savings sub account and we may periodically transfer funds between these two sub accounts. Your bank statement will show a single balance representing the total funds in the two sub accounts. The same interest rate will apply to both sub accounts and interest will be paid on the total account balance regardless of how funds are distributed between the sub accounts. SELF-DIRECTED INVESTMENT PROVISIONS Investment of Contributions: You may invest any portion of the contributions to your Account in excess of the minimum amount established by us as described within the Disclosure Statement, including any earnings of such Investments, in such amounts as you specifically select and direct (or as directed by the Beneficiary upon your death), in orders to us in such form as may be acceptable to us, without any duty to diversify and without regard to whether such property is authorized by the laws of any jurisdiction as a trust investment. We shall direct all orders received to such service provider as we may select for the execution of such orders and we shall maintain adequate records thereof. If any such orders are not received as required, or, if received, are unclear in our opinion, all or a portion of the contribution may continue to be held as funds on deposit in your Account without liability for loss of income or appreciation, and without liability pending receipt of an acceptable order or clarification. You acknowledge and agree that prior to submitting an order, you shall have received, read and understood the prospectus describing the Investments and all fees and expenses relating to such purchase. All purchases of the Investments shall be made according to the terms and conditions of the then-effective prospectus relating to the Investments and any statement of additional information as such documents may be amended and updated in accordance with applicable law. We shall have no duty other than to follow your investment directions and shall be under no duty to question said instructions and shall not be liable for any investment losses sustained by you. We shall not make any investment or dispose of any investment except upon the express verbal or written direction from you, except as provided in this Agreement. You acknowledge tha...
