Transfer of Bank Accounts Sample Clauses
The Transfer of Bank Accounts clause outlines the process and requirements for moving ownership or control of bank accounts from one party to another, typically in the context of a business sale or restructuring. This clause specifies which accounts are to be transferred, the timing of the transfer, and any necessary documentation or cooperation required from both parties to effectuate the change. Its core function is to ensure a smooth and orderly transition of financial assets, minimizing disruption to business operations and clarifying responsibilities during the transfer process.
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Transfer of Bank Accounts. (a) Section 2.3(a) shall be amended by (1) removing the word “and” at the end of subsection (xiii), (2) replacing the period at the end of clause (xiv) with a semicolon followed by the word “and”, and (3) adding the following subsection (xv) to such section: "(xv) the bank accounts listed on Schedule 2.3(a)(xv).”
(b) A new Schedule 2.3(a)(xv) shall be added to the Agreement, as attached hereto as Exhibit A.
(c) Subsection (i) of Section 2.3(b) of the Agreement shall be amended by adding the words “except for cash in the bank accounts listed on Schedule 2.3(a)(xv),” to the beginning of such subsection.
Transfer of Bank Accounts. At the Closing, Seller shall transfer to ------------------------- Buyer all deposits held in any of Seller's bank accounts and any other cash of Seller (which bank accounts and deposits therein and other cash as of the date hereof are listed in Schedule 2.22), excluding payments made to Seller pursuant ------------- to Sections 1.3(a) and 1.3(b).
Transfer of Bank Accounts. KAIR shall use its best efforts to transfer all existing KAIR bank accounts into the sole name of KNSA. KAIR shall have no further interests in such accounts. If the banks will not cooperate in permitting such transfer, such accounts shall be closed. KAIR shall open its new accounts in a different bank.
Transfer of Bank Accounts. Effective upon the Closing, the Companies shall transfer title and ownership of all bank accounts, checking accounts, safe deposit boxes, lockboxes and similar accounts and items to Buyer, and shall cause the authority of all Persons authorized to draw thereon or have access thereto to be revoked and shall cooperate with Buyer to ▇▇▇▇▇ ▇▇▇▇▇▇ of attorney or comparable delegation giving such Persons as may be directed in writing by Buyer the authority to draw upon or have access to such accounts and items from and after Closing.
Transfer of Bank Accounts. The parties stipulate and agree that, effective as of the Closing, the bank accounts identified by an asterisk(*) in Schedule 4.13 shall be transferred as directed by Seller to Seller Parent, Seller or any other Affiliate of Seller that is not a member of the MRI Group, and Buyer shall take necessary and appropriate actions to establish the requisite operating accounts for the operation of the MRI Group following the Closing.
Transfer of Bank Accounts. Within 5 Business Days following the Initial Advance, transfer all bank accounts to Compass Bank, including entering into a control agreement in form and substance reasonably satisfactory to Lender.
Transfer of Bank Accounts. Seller will execute and deliver, or cause to be executed and delivered, to Buyer such resignations and other documentation of officers and representatives of Brea or the Partnership as Buyer may reasonably request to effect the transfer of the bank accounts referenced in Schedule 5.24 as of the Closing Date.
Transfer of Bank Accounts. The parties stipulate and agree that, effective as of the Closing, the bank accounts identified by an asterisk(*) in Schedule 4.12 shall be transferred as directed by Seller to Seller Parent, Seller or any other Affiliate of Seller, and Buyer shall take necessary and appropriate actions to establish the requisite operating accounts for the operation of PRI following the Closing.
Transfer of Bank Accounts. On or prior to the Closing, the Shareholders will cause the Company to provide the Purchaser with evidence, reasonably satisfactory to the Purchaser, of the transfer of all of the bank accounts owned by the Company, including, without limitation, the bank accounts set forth in Schedule 4.01(bb)(2) and the forms of resolutions required by each bank for each such bank account to provide Purchaser with all the rights, title and interest in and to such bank accounts and the authority to access such bank accounts.
Transfer of Bank Accounts. In the event the Bank cannot comply with Section 2.3 hereof, the Debtor agrees to transfer any and all accounts on deposit with the Bank to another bank, acceptable to the Government.