Common use of Other Adverse Claims Clause in Contracts

Other Adverse Claims. If the Credit Union receives notice of an actual or potential adverse claim to your account or the funds in your account, it may in its discretion refuse to pay out any money from your account for a reasonable period of time after receipt of notice of the actual or potential claim. Although the Credit Union reserves the right to refuse to pay out any money from your account if it has received notice of an actual or potential claim, the Credit Union is not required to recognize any adverse claim unless (1) the claimant provides the Credit Union with an acceptable bond indemnifying the Credit Union against any and all liabilities, losses, damages, costs and expenses that might be incurred by the Credit Union in connection with payment of the adverse claim and any resulting dishonored checks or other items, (2) the claimant has obtained an order from a court of competent jurisdiction in a case in which you are made a party and served with a summons, or (3) you act as a fiduciary for the claimant and the claimant gives the Credit Union an affidavit setting forth the nature of your fiduciary relationship and the facts upon which the claimant has reasonable cause to believe that you are about to misappropriate the funds.

Other Adverse Claims. If the Credit Union receives notice of an actual or potential adverse claim to your account Account or the funds in your accountAccount, it may in its discretion refuse to pay out any money from your account Account for a reasonable period of time after receipt of notice of the actual or potential claim. Although the Credit Union reserves the right to refuse to pay out any money from your account Account if it has received notice of an actual or potential claim, the Credit Union is not required to recognize any adverse claim unless (1) the claimant provides the Credit Union with an acceptable bond indemnifying the Credit Union against any and all liabilities, losses, damages, costs and expenses that might be incurred by the Credit Union in connection with payment of the adverse claim and any resulting dishonored checks or other items, (2) the claimant has obtained an order from a court of competent jurisdiction in a case in which you are made a party and served with a summons, or (3) you act as a fiduciary for the claimant and the claimant gives the Credit Union an affidavit setting forth the nature of your fiduciary relationship and the facts upon which the claimant has reasonable cause to believe that you are about to misappropriate the funds.

Other Adverse Claims. If the Credit Union receives notice of an actual or potential adverse claim to your account or the funds in your account, it may in its discretion refuse to pay out any money from moneyfrom your account for a reasonable period of time after receipt of notice of the actual or potential claim. Although the Credit Union reserves the right to refuse to pay out any money from moneyfrom your account if accountif it has received notice of an actual or potential claim, the Credit Union is not required to recognize any adverse claim unless (1) the claimant provides the Credit Union with an acceptable bond indemnifying the Credit Union against any and all liabilities, losses, damages, costs and expenses that might be incurred by the Credit Union in connection with payment of the adverse claim and any resulting dishonored checks or other items, (2) the claimant has obtained an order from a court of competent jurisdiction in a case in which you are made a party and served with a summons, or (3) you act as a fiduciary for fiduciaryfor the claimant and the claimant gives claimantgives the Credit Union an affidavit setting forth the nature of your fiduciary relationship fiduciaryrelationship and the facts upon which the claimant has reasonable cause to believe that you are about to misappropriate the fundsthefunds.

Other Adverse Claims. If the Credit Union receives notice of an actual or potential adverse claim to your account or the funds in your account, it may in its discretion refuse to pay out any money from your account for a reasonable period of time after receipt of notice of the actual or potential claim. Although the Credit Union reserves the right to refuse to pay out any money from your account if it has received notice of an actual or potential claim, the Credit Union is not required to recognize any adverse claim unless (1) the claimant provides the Credit Union with an acceptable bond indemnifying the Credit Union against any and all liabilities, losses, damages, costs and expenses that might be incurred by the Credit Union in connection with payment of the adverse claim and any resulting dishonored checks or other items, (2) the claimant has obtained an order from a court of competent jurisdiction in a case in which you are made a xxxxxx madea party and served with a summons, or (3) you act as a fiduciary for the claimant and the claimant gives the Credit Union an affidavit setting forth the nature of your fiduciary relationship and the facts upon which the claimant has reasonable cause to believe that you are about to misappropriate the funds.