Sole Accounts Clause Samples

Sole Accounts. The Pledgor warrants that it does not currently hold any other bank account than the Accounts set forth in Schedule 1 and Schedule 2 hereto and it undertakes that upon the opening of any other account in Germany or abroad after the date hereof, it will immediately notify the Security Agent.

Sole Accounts. If you are the sole owner of an account, only you can make deposits or withdrawals or otherwise have access to the funds in the account. Upon death, the funds in the account are distributed in accordance with the terms of your will, or, if you do not leave a will, the intestacy laws of the state of your residency.

Sole Accounts. If you are the sole owner of an account, only you can make withdrawals or otherwise have access to the funds in the account. Upon death, the funds in the account are distributed in accordance with the terms of your will, or, if you do not leave a will, the intestacy laws of the state of your residency. Joint accounts. A joint owner has an equal right of access to the funds in a joint account and can withdraw all of the funds in the account to transact any business for the account at any time without the permission from or notification to the other joint owner(s). At the death of one joint owner, the funds automatically belong to the surviving joint owner(s). Joint owners do not have to be Credit Union members.