Draft account definition

Draft account means an account upon which funds are withdrawn through a properly payable instrument or an electronic transaction.

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Draft account means an account upon which funds are disbursed through a properly payable instrument.

Draft account means Account No. 81887-03225, denominated “Word Omni Financial Corp.”, located at Bank of America or any such other account as may be specified as such from time to time by the Closed-End Servicer with notice to the Titling Trustee.

Examples of Draft account in a sentence

• As with all other accounts, your Share Draft account may be subject to service charges in accordance with the fee schedule adopted by the Credit Union from time to time.

• Funds to cover your Card purchases will be deducted from your Share or Share Draft account.

• Funds to cover your card purchases will be deducted from your Share Draft account.

• Each joint owner appearing on your Share Savings Account, regardless of whether his or her name appears on your Share Draft account, Certificates, IRA account, and Loan Accounts will have access to information associated with those accounts.

• If your preauthorized transfer/ATM terminal transaction affects your Share Draft account, these transactions will be noted on your monthly statement.

• Upon instruction, we will pay certain recurring transactions from your Share and/or Share Draft account.

• Upon instruction, we will pay certain recurring transactions from your Share Savings and/or Share Draft account.

• Upon instruction of (i) your employer, (ii) the Treasury Department or (iii) other financial institutions, the Credit Union will accept direct deposits of your paycheck or federal recurring payments, such as Social Security, to your share and/or share Draft account.

• As with all other accounts, your Share Draft account may be subject to service charges in accordance with the fee schedule ad opted by the Credit Union from time to time.

• An overdraft occurs when you do not have enough money in your Share Draft account to cover a transaction but Central Coast Federal Credit Union (“CCFCU”) pays it anyway.

More Definitions of Draft account

Draft account means that account of the Originator described in the ------------- Commitment Letter maintained in the Originator's name alone with the depository institution designated by Purchaser from time to time.

Draft account means the non-interest bearing demand deposit account (Account Number 9300000040) established by Borrower with Agent to be used for (i) the deposit of money in accordance with SECTION 3.6(F) and the Funding Draft Procedures; (ii) disbursements on behalf of Borrower in accordance with the Funding Draft Procedures; and (iii) the payment of the Obligations.

Draft account means the segregated draft account maintained by the Seller at Bank One (account: E-LOAN, Inc.) having account number 634866339 (ABA: 044000037) for the purpose of disbursing the principal amount of ▇▇▇▇ ▇▇▇▇ract to the related Dealer or Eligible Non-Franchise Dealer for the related Financed Vehicle via check when ACH is not used.

Draft account means that account of the Company described in the Commitment Letter maintained in the Company’s name alone with the depository institution designated by Lender from time to time.