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Treasury Agreement Template

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Treasury Agreement Template

On April 13, 2021, Posted by , With No Comments

A. AUTOMATED ACCOUNT SWEEP SERVICES: If the customer has chosen to obtain automated scanning services (“Sweep Services”), the customer authorizes the bank and the bank to automatically transfer money from one or more of the customer`s deposit accounts, as shown on the bank`s forms (the “sweep account”): (i) to other insured accounts (“Receiving bank accounts”) from FDIC member banks (“Receiving Banks”) (“Receiving Bank Accounts”) (“Receiving Bank Accounts”) (“Receiving Bank Accounts”) (“Receiving Bank Accounts”) (“Receiving Bank Accounts”) (“Receiving Bank Accounts”) (“Receiving Bank Accounts”) (“Receiving Bank Accounts”) (“Receiving Bank Accounts”) (“Receiving Bank Accounts”) (“Receiving Accounts”) (“Receiving Bank Accounts”) (“Receiving Bank Accounts”) (“Receiving Bank Accounts”) (“Receiving Banks”) (“Receiving Banks” (“Received Banks”) (“Receiving Bank Accounts” or (ii) on a Bank Account credit (the “credit account”) held by the customer with the bank and designated by the customer on the bank`s forms (the “credit scanning service”). If the customer has chosen to do so and the bank has agreed to provide the insured Cash Manager Sweep Service or the Loan Sweep Service: (a) the customer has fixed the balance he wishes to keep on the customer`s scanning account on the bank`s forms (the “destination balance”); (b) the bank reserves the absolute right to change the target balance with written notification to the customer and, with the bank`s prior written consent, the customer may change the balance; and (c) any amount of funds collected from the scanning account above the target balance is automatically assigned to the transfer and is called “scan balances.” For the insured Cash Manager Sweep Service, the bank has the right to make deposits and withdrawals on scanning and receiving bank accounts, in accordance with the terms of service of the insured Cash Manager. For the Loan Sweep Service, the bank is authorized to make withdrawals from the scanning account and payments related to the credit account in accordance with the credit scanning terms and conditions. For all purposes related to this Section IV, the customer authorizes the bank to rely on the instructions and signatures of those authorized to make payments from the broom account or payments to the credit account. The scanning services described here are provided by the bank to the customer exclusively as good faith cash management services. The bank does not have a fiduciary commitment to the client with respect to scanning services. The bank`s missions to act for the customer are exclusively mechanical and administrative in nature. As used in this section IV, “funds collected” refer to the positive balance, if any, of the scanning account after the count at the end of each business day. Notwithstanding the provisions of this section IV.C: (a) the provisions of the account terms made by the client in relation to the scanning account prevail over the provisions of this section IV.C and the client`s obligations and the bank`s rights under these account terms prevail over all of the client`s rights or the bank`s obligations with respect to the sweep account; and (b) the provisions of the credit contracts (loan contracts, loan contracts, guarantee contracts or other agreements) relating to the credit account prevail over the provisions of this section IV.C and the client`s obligations and the bank`s rights arising from the credit contracts are given priority over all the client`s rights or the bank`s obligations with respect to the credit account. S.

NON-WAIVER: The Bank`s renouncement of any violation or non-application at any time of any of the conditions of this Agreement affects, limits or renounces what the Bank does not affect in any way, limits or renounces the Bank`s right to apply strict compliance with all the conditions of this Agreement. The client may be indebted to the Bank in connection with certain loan and instr contracts

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