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Bank accounts clause: Copy, customize, and use instantly

Introduction

A bank accounts clause outlines the details of the bank accounts used by the parties involved in the agreement for the purpose of transactions, payments, and other financial matters. It ensures transparency in the financial arrangements and clarifies how funds will be managed throughout the term of the agreement.

Below are templates for bank accounts clauses tailored to different scenarios. Copy, customize, and insert them into your agreement.

Designation of bank accounts

This clause applies to the designation of bank accounts.

The Parties agree that all payments under this Agreement shall be made to the designated bank accounts specified in writing by each Party. The Parties shall provide updated account details if there are any changes to the designated bank account information during the term of this Agreement.

Joint bank account for shared funds

This clause applies to the use of a joint bank account for shared funds.

The Parties agree to open and maintain a joint bank account for the sole purpose of managing funds related to this Agreement. Both Parties must approve any withdrawals or transfers from the account, and the account will be governed by mutual consent.

Bank account for payment receipt

This clause applies to the use of a designated bank account for payment receipt.

Each Party agrees to designate a specific bank account for the receipt of all payments under this Agreement. Any payment made by the other Party shall be sent to the designated account, and the receiving Party will confirm receipt of such payments in writing within [X] days.

Changes to bank account information

This clause applies to the disclosure of changes to bank account information.

Each Party agrees to immediately notify the other Party of any changes to the designated bank account information, including changes to the account number, bank name, or other relevant banking details. All payments under this Agreement must be made to the current bank account details provided.

Bank account for escrow purposes

This clause applies to the use of a bank account for escrow purposes.

The Parties agree to establish a designated escrow bank account to hold funds required for specific purposes outlined in this Agreement. The funds in the escrow account shall be disbursed only in accordance with the terms specified in the Agreement.

Bank account for deposit of funds

This clause applies to the use of a bank account for the deposit of funds.

The Parties agree that all funds related to this Agreement, including deposits, advances, and payments, will be deposited into the bank accounts designated by each Party. Each Party shall be responsible for ensuring that all funds are properly deposited into their designated account.

Bank account for recurring payments

This clause applies to the use of a bank account for recurring payments.

The Parties agree to use the designated bank account for the automatic payment of recurring fees or charges under this Agreement. The payments will be made on a [monthly/quarterly/annual] basis, and the bank account will be debited accordingly unless the Parties mutually agree to make changes.

Bank account for loan repayments

This clause applies to the use of a bank account for loan repayments.

Each Party agrees to designate a bank account for the repayment of any loans or financial obligations arising under this Agreement. The repayments will be made from this designated account, and any changes to the account information will be communicated promptly.

Bank account for operating expenses

This clause applies to the use of a bank account for operating expenses.

The Parties agree to maintain a separate bank account for the payment of operating expenses related to this Agreement. This account will be used exclusively for the purpose of covering costs and expenses incurred during the performance of the Agreement.

Bank account for revenue collection

This clause applies to the use of a bank account for revenue collection.

The Parties agree to designate a specific bank account for the collection of revenue generated through this Agreement. The account will be used exclusively to deposit payments received, and each Party shall receive their share of the revenue as outlined in the Agreement.

Bank account for disbursements

This clause applies to the use of a bank account for disbursements.

Each Party agrees to designate a bank account for disbursements related to this Agreement, including reimbursements and payments to third parties. All disbursements will be made from the designated account, and both Parties must approve any payments from the account.

Bank account for settlement of obligations

This clause applies to the use of a bank account for settlement of obligations.

The Parties agree to maintain a bank account for the settlement of any financial obligations arising under this Agreement. Any amounts due will be deposited into the account, and payments will be made in accordance with the terms of the Agreement.

Bank account for funds administration

This clause applies to the use of a bank account for funds administration.

The Parties agree that a specific bank account will be used for the administration of funds related to this Agreement. All contributions, payments, and disbursements will be handled through this account, and both Parties will have access to view the account activity as necessary.

Bank account for transaction processing

This clause applies to the use of a bank account for transaction processing.

Each Party agrees to designate a bank account for processing any financial transactions related to this Agreement, including payments, deposits, and refunds. All transactions will be processed through this account, and the Parties will notify each other of any necessary adjustments to the account information.

Bank account for short-term funds

This clause applies to the use of a bank account for short-term funds.

The Parties agree to maintain a separate bank account for short-term funds related to this Agreement. This account will be used for the temporary holding of funds, and the Parties will mutually agree on the withdrawal and usage of the funds held in the account.

Bank account for project-specific funds

This clause applies to the use of a bank account for project-specific funds.

The Parties agree to create a designated bank account for funds related to a specific project under this Agreement. All project-related expenses and payments will be managed through this account, and the Parties will agree on any necessary changes to the account as the project progresses.

Bank account for profit sharing

This clause applies to the use of a bank account for profit sharing.

The Parties agree to establish a separate bank account for the distribution of profits generated from the Agreement. The profits will be deposited into this account, and distributions will be made to each Party in accordance with their agreed-upon share.

Bank account for settlement of disputes

This clause applies to the use of a bank account for settlement of disputes.

In the event of a dispute under this Agreement, the Parties agree to establish a dedicated bank account for the settlement of financial claims, including any amounts due as a result of the dispute. The account will be used exclusively for this purpose, and both Parties must agree on the disbursements.

Bank account for deposit of security funds

This clause applies to the use of a bank account for deposit of security funds.

The Parties agree to maintain a bank account for the deposit of security funds required under this Agreement. These funds will be held in the account until such time as they are either applied to obligations under the Agreement or refunded as agreed by the Parties.

Bank account for settlement of joint venture costs

This clause applies to the use of a bank account for settlement of joint venture costs.

The Parties agree to maintain a joint bank account for the payment of costs and expenses incurred in the operation of a joint venture under this Agreement. All joint venture costs will be paid from this account, and both Parties will have access to review the account activity.

Bank account for business expenses

This clause applies to the use of a bank account for business expenses.

The Parties agree to maintain a bank account for covering any business-related expenses incurred under this Agreement. Payments from this account will be made exclusively for operational costs, and both Parties will have access to monitor account activity.

Bank account for escrow funds

This clause applies to the use of a bank account for escrow funds.

The Parties agree to establish an escrow bank account to hold funds required for specific performance or contingencies under this Agreement. The funds in this account shall only be released under mutually agreed conditions and upon written consent of both Parties.

Bank account for joint venture financing

This clause applies to the use of a bank account for joint venture financing.

The Parties agree to open a bank account dedicated to financing joint venture activities under this Agreement. All funds contributed for the venture will be deposited into this account, and all distributions will be made from this account as per the joint venture terms.

Bank account for royalty payments

This clause applies to the use of a bank account for royalty payments.

Each Party agrees to designate a bank account for the deposit and payment of royalties generated under this Agreement. All royalties will be collected in this account and paid to the appropriate Party in accordance with the agreed-upon terms.

Bank account for direct deposit of salary

This clause applies to the use of a bank account for direct deposit of salary.

Each Party agrees to establish a bank account for the direct deposit of employee salaries and compensation related to this Agreement. All salary payments will be made via this account on a monthly basis, subject to any agreed terms.

Bank account for tax withholdings

This clause applies to the use of a bank account for tax withholdings.

The Parties agree to designate a bank account for the collection of taxes withheld from payments made under this Agreement. All tax payments will be deposited into this account, and it will be used exclusively for fulfilling tax obligations.

Bank account for transaction settlement

This clause applies to the use of a bank account for transaction settlement.

Each Party agrees to establish a bank account for settling financial transactions arising from this Agreement. Payments for products, services, or obligations under the Agreement will be processed through this account, and any changes to account details will be communicated promptly.

Bank account for insurance premiums

This clause applies to the use of a bank account for insurance premiums.

Each Party agrees to maintain a designated bank account for the payment of insurance premiums required under this Agreement. All insurance premiums, including those for liability, property, or health coverage, will be paid from this account.

Bank account for refunds or credits

This clause applies to the use of a bank account for refunds or credits.

The Parties agree to maintain a bank account for processing any refunds or credits due under this Agreement. This account will be used to process reimbursements or overpayments, and both Parties will be notified when such payments are made.

Bank account for contingent payments

This clause applies to the use of a bank account for contingent payments.

Each Party agrees to establish a bank account for the deposit and payment of contingent amounts due under this Agreement. This account will be used to manage payments triggered by specific conditions or milestones.

Bank account for royalty distribution

This clause applies to the use of a bank account for royalty distribution.

The Parties agree to designate a separate bank account for distributing royalties earned under the Agreement. Royalties will be deposited into this account and distributed based on the agreed percentages, and statements of payment will be provided.

Bank account for operational reserves

This clause applies to the use of a bank account for operational reserves.

The Parties agree to maintain a bank account for the purpose of funding operational reserves. This account will be used to cover unexpected expenses, losses, or liabilities incurred during the performance of this Agreement.

Bank account for sale proceeds

This clause applies to the use of a bank account for sale proceeds.

The Parties agree to designate a bank account for the deposit of proceeds from the sale of assets or goods under this Agreement. All proceeds will be deposited into this account, and the distribution of proceeds will be handled according to the terms outlined in this Agreement.

Bank account for compensation fund

This clause applies to the use of a bank account for a compensation fund.

The Parties agree to establish a bank account to hold funds intended for employee compensation, including severance, benefits, or other required payments. The account will be managed in accordance with applicable laws and the terms of this Agreement.

Bank account for franchise payments

This clause applies to the use of a bank account for franchise payments.

The Parties agree to maintain a designated bank account for all payments due under the franchise agreement. Franchise fees, royalties, and other financial obligations will be managed through this account.

Bank account for operating capital

This clause applies to the use of a bank account for operating capital.

Each Party agrees to maintain a bank account for the deposit of operating capital required to fund daily activities under this Agreement. The account will be used exclusively for operational expenditures and expenses necessary for the fulfillment of the Agreement.

Bank account for loan repayments

This clause applies to the use of a bank account for loan repayments.

The Parties agree to designate a bank account specifically for the repayment of loans or financial obligations arising under this Agreement. All scheduled loan repayments will be processed through this account in accordance with the terms of the loan agreement.

Bank account for profit distribution

This clause applies to the use of a bank account for profit distribution.

The Parties agree to establish a bank account for the distribution of profits arising from this Agreement. The profits will be deposited into the account, and distribution will occur according to the agreed profit-sharing arrangement between the Parties.

Bank account for capital contributions

This clause applies to the use of a bank account for capital contributions.

The Parties agree to establish a bank account for capital contributions required under this Agreement. Any funds contributed for capital purposes will be deposited into this account, and the account will be used solely for capital-related activities.

Bank account for advance payments

This clause applies to the use of a bank account for advance payments.

The Parties agree to designate a bank account for the deposit of any advance payments or upfront fees under this Agreement. The advance payments will be credited to this account and used in accordance with the terms of the Agreement.

Bank account for transaction fees

This clause applies to the use of a bank account for transaction fees.

Each Party agrees to maintain a separate bank account to handle any transaction fees associated with this Agreement. Any fees incurred during payment processing or related transactions will be deducted from this account.

Bank account for performance bonds

This clause applies to the use of a bank account for performance bonds.

The Parties agree to establish a bank account for the deposit of performance bonds, which will be held until the successful completion of obligations under this Agreement. The funds will be released upon mutual agreement that the terms of the Agreement have been met.

Bank account for dividend payments

This clause applies to the use of a bank account for dividend payments.

The Parties agree to designate a bank account to facilitate the payment of dividends, as outlined in this Agreement. All dividends will be paid to the shareholders through this account, based on the agreed-upon distribution percentages.

Bank account for reserves

This clause applies to the use of a bank account for reserves.

The Parties agree to maintain a bank account that will be used to hold reserve funds, which will cover any potential liabilities or future expenses arising from this Agreement. The reserve account will be managed jointly, and withdrawals can only be made with mutual consent.

Bank account for final payment settlement

This clause applies to the use of a bank account for final payment settlement.

Upon completion of the services outlined in this Agreement, the final payment will be deposited into a bank account designated by the Parties. The final payment will settle all outstanding obligations and will be considered full and final unless otherwise agreed.

Bank account for royalty earnings

This clause applies to the use of a bank account for royalty earnings.

The Parties agree to establish a bank account for the collection and distribution of royalty earnings. This account will be used exclusively to deposit any royalties earned from the products or services covered under this Agreement, with distributions made as agreed.

Bank account for payment of expenses

This clause applies to the use of a bank account for payment of expenses.

Each Party agrees to maintain a separate bank account for the payment of expenses incurred during the performance of this Agreement. Any costs associated with the execution of this Agreement will be covered from this account, and both Parties will review and approve expenses in advance.

Bank account for operating fund

This clause applies to the use of a bank account for an operating fund.

The Parties agree to establish an operating fund held in a designated bank account for the purposes of managing day-to-day operational costs. This fund will cover all routine expenses, and its balance will be replenished as needed.

This clause applies to the use of a bank account for project-related funds.

The Parties agree to create a bank account specifically for project-related funds, which will be used to cover expenses directly tied to the project under this Agreement. Funds will be allocated based on project milestones, and both Parties will have access to review account transactions.

Bank account for bonus distribution

This clause applies to the use of a bank account for bonus distribution.

The Parties agree to maintain a bank account specifically for the distribution of bonuses, which will be paid to employees or contractors based on the completion of milestones or performance criteria established in this Agreement.

Bank account for operating costs reimbursement

This clause applies to the use of a bank account for operating costs reimbursement.

Each Party agrees to designate a bank account for the reimbursement of operating costs incurred during the performance of this Agreement. Reimbursement claims will be reviewed and paid from this account, subject to the terms agreed upon in the Agreement.

Bank account for payment of penalties

This clause applies to the use of a bank account for payment of penalties.

In the event that penalties are imposed for non-performance or breach of the terms of this Agreement, the Parties agree that any such penalties will be paid from a designated bank account. This account will be used exclusively for penalty-related payments.

Bank account for maintenance and upkeep

This clause applies to the use of a bank account for maintenance and upkeep.

The Parties agree to maintain a bank account specifically for the maintenance and upkeep of any assets or property related to this Agreement. All expenses associated with upkeep will be paid from this account.

Bank account for service payments

This clause applies to the use of a bank account for service payments.

The Parties agree to designate a bank account for the payment of services rendered under this Agreement. All service fees, including ongoing or one-time payments, will be made through this account, with payment terms as outlined in the Agreement.

This clause applies to the use of a bank account for sale-related funds.

Any funds related to the sale of assets or products under this Agreement will be deposited into a designated bank account. Both Parties agree that funds will be distributed in accordance with the terms outlined in the Agreement, following the successful sale of the specified assets.

Bank account for upfront payments

This clause applies to the use of a bank account for upfront payments.

Each Party agrees to designate a bank account for the deposit of upfront payments made under this Agreement. These payments will be used to cover initial costs and will be disbursed as specified in the Agreement.

Bank account for trust funds

This clause applies to the use of a bank account for trust funds.

The Parties agree to establish a trust bank account for the management of funds held in trust under this Agreement. The funds will be disbursed according to the terms agreed upon by both Parties, and withdrawals will require mutual consent.

Bank account for settlement of disputes

This clause applies to the use of a bank account for settlement of disputes.

In the event of a dispute, any funds required for settlement or as part of a settlement agreement will be held in a designated bank account. The funds will only be released upon mutual agreement between the Parties.

This clause applies to the use of a bank account for performance-related payments.

The Parties agree to use a designated bank account to manage payments tied to performance milestones under this Agreement. The account will track payments due based on the achievement of specific goals, and disbursements will occur according to the established schedule.

Bank account for operating capital replenishment

This clause applies to the use of a bank account for operating capital replenishment.

Each Party agrees to replenish the operating capital bank account periodically to ensure that there are sufficient funds to meet operational costs. The capital replenishment schedule and amounts will be determined based on the needs outlined in this Agreement.

Bank account for profit-sharing

This clause applies to the use of a bank account for profit-sharing.

The Parties agree to establish a separate bank account for the deposit and distribution of profits arising from this Agreement. Profit-sharing payments will be made to the designated parties in accordance with the profit distribution terms specified.

Bank account for handling refunds

This clause applies to the use of a bank account for handling refunds.

The Parties agree to designate a bank account for the deposit and payment of refunds related to this Agreement. Any amounts that need to be refunded to customers or clients will be managed through this account, in accordance with the terms of the Agreement.

Bank account for settlement of expenses

This clause applies to the use of a bank account for settlement of expenses.

The Parties agree to use a designated bank account for the settlement of any joint expenses incurred under this Agreement. Payments made from this account will be subject to review and approval by both Parties.

Bank account for capital contributions tracking

This clause applies to the use of a bank account for capital contributions tracking.

Each Party agrees to maintain a bank account for tracking capital contributions made under this Agreement. All contributions will be deposited into this account, and periodic statements will be provided to both Parties.

Bank account for secured transactions

This clause applies to the use of a bank account for secured transactions.

The Parties agree to establish a dedicated bank account for any secured transactions related to this Agreement. All funds from secured transactions will be deposited into this account, and any withdrawals will require mutual consent based on the terms of the Agreement.

Bank account for payment of third-party obligations

This clause applies to the use of a bank account for payment of third-party obligations.

Each Party agrees to designate a bank account specifically for the payment of third-party obligations arising under this Agreement, including payments to contractors, vendors, or service providers. All payments will be processed through this account in accordance with the agreed terms.

Bank account for project-specific expenses

This clause applies to the use of a bank account for project-specific expenses.

The Parties agree to maintain a bank account dedicated to covering expenses incurred during the execution of a specific project under this Agreement. Funds from this account will be used solely for project-related expenditures, and both Parties will have access to the account records.

Bank account for profit allocation

This clause applies to the use of a bank account for profit allocation.

The Parties agree to establish a bank account for the allocation and distribution of profits generated by this Agreement. All profits will be deposited into this account, and distributions will be made according to the agreed profit-sharing arrangement.

Bank account for direct financial contributions

This clause applies to the use of a bank account for direct financial contributions.

Each Party agrees to designate a bank account for direct financial contributions made under this Agreement. Any direct contributions to the agreed activities will be deposited into this account and used for the purposes specified in the Agreement.

Bank account for payments under default provisions

This clause applies to the use of a bank account for payments under default provisions.

The Parties agree to create a bank account to handle any payments due under the default provisions of this Agreement. In the event of default, the liable Party will deposit the required amounts into this account, and payments will be made in accordance with the default terms.

Bank account for security deposit management

This clause applies to the use of a bank account for security deposit management.

The Parties agree to establish a bank account for holding the security deposit required under this Agreement. The security deposit will be used to cover any liabilities or damages incurred during the term of the Agreement, and it will be returned to the appropriate Party upon satisfactory completion of the Agreement.

Bank account for rent payments

This clause applies to the use of a bank account for rent payments.

The Parties agree to maintain a bank account for the payment of rent due under this Agreement. All rent payments will be made into this account, and the account will be monitored to ensure that payments are made on time and in full.

Bank account for operating costs reimbursement

This clause applies to the use of a bank account for operating costs reimbursement.

The Parties agree to use a designated bank account to manage the reimbursement of operating costs incurred during the performance of this Agreement. Claims for reimbursement will be paid from this account, and both Parties will review the supporting documentation for each claim.

Bank account for the deposit of licensing fees

This clause applies to the use of a bank account for the deposit of licensing fees.

The Parties agree to establish a bank account for the deposit of any licensing fees generated from the use of intellectual property under this Agreement. The fees will be deposited into this account, and distributions will be made in accordance with the licensing agreement.

Bank account for the collection of late fees

This clause applies to the use of a bank account for the collection of late fees.

The Parties agree to designate a bank account for the collection and management of late fees incurred under this Agreement. Any late payments will be subject to the terms outlined in the Agreement, and the fees will be deposited into this account.

This clause applies to the use of a bank account for compliance-related expenses.

The Parties agree to maintain a separate bank account for expenses related to the compliance requirements of this Agreement. This includes any costs associated with regulatory filings, audits, and other compliance activities that arise during the term of the Agreement.

Bank account for the deposit of grant funding

This clause applies to the use of a bank account for the deposit of grant funding.

The Parties agree to designate a bank account for the deposit of any grant funding awarded under this Agreement. These funds will be used for the specific purposes outlined in the grant agreement, and both Parties will review the fund usage periodically.

Bank account for the management of royalties

This clause applies to the use of a bank account for the management of royalties.

Each Party agrees to maintain a separate bank account for the management and distribution of royalties earned from intellectual property used under this Agreement. Royalties will be collected and distributed from this account, with detailed statements provided to both Parties.

Bank account for emergency funds

This clause applies to the use of a bank account for emergency funds.

The Parties agree to maintain a bank account designated for emergency funds under this Agreement. This account will be used to cover unexpected or unforeseen expenses, and both Parties must agree on any disbursements made from the account.

Bank account for business continuity

This clause applies to the use of a bank account for business continuity.

The Parties agree to establish a bank account to fund business continuity initiatives under this Agreement. The account will hold funds specifically allocated to ensure the ongoing operations in the event of an emergency or crisis situation.

Bank account for joint investments

This clause applies to the use of a bank account for joint investments.

The Parties agree to maintain a joint bank account for any investments made under this Agreement. Any funds contributed for investment purposes will be deposited into this account, and the account will be used exclusively for joint investment activities.

Bank account for the settlement of capital expenditures

This clause applies to the use of a bank account for the settlement of capital expenditures.

Each Party agrees to establish a bank account specifically for the settlement of capital expenditures related to the execution of this Agreement. Any capital investments or purchases will be paid from this account, with both Parties reviewing and agreeing to the disbursements.

Bank account for refund processing

This clause applies to the use of a bank account for refund processing.

The Parties agree to designate a bank account to process any refunds due under this Agreement. Refunds will be made from this account in accordance with the terms of the Agreement, and both Parties will ensure that the account is properly funded to handle such transactions.

Bank account for the management of project funds

This clause applies to the use of a bank account for the management of project funds.

The Parties agree to establish a designated bank account for the management of funds related to a specific project under this Agreement. All expenses and income related to the project will be processed through this account, and the Parties will regularly review the account balance.

Bank account for operational liability coverage

This clause applies to the use of a bank account for operational liability coverage.

The Parties agree to maintain a bank account designated for the coverage of operational liabilities under this Agreement. This account will be used to cover any claims, insurance, or other liabilities that arise during the term of this Agreement.

Bank account for the collection of advance payments

This clause applies to the use of a bank account for the collection of advance payments.

Each Party agrees to designate a bank account for the collection of any advance payments required under this Agreement. The funds will be deposited into this account and will be applied to future obligations under the Agreement.

This clause applies to the use of a bank account for managing project-related revenues.

The Parties agree to maintain a bank account to handle any revenue generated from the project or activities specified in this Agreement. All revenue collected will be deposited into this account, and distributions will be made as per the revenue-sharing arrangement outlined in the Agreement.

Bank account for emergency project funds

This clause applies to the use of a bank account for emergency project funds.

The Parties agree to maintain a bank account for emergency project funds under this Agreement. This account will be used to cover unexpected project-related expenses or delays, and withdrawals from the account will require mutual consent.

Bank account for cost-sharing contributions

This clause applies to the use of a bank account for cost-sharing contributions.

The Parties agree to maintain a designated bank account for cost-sharing contributions related to the execution of this Agreement. Both Parties will deposit agreed-upon amounts into the account, which will be used to cover joint expenses or obligations under the Agreement.

Bank account for project escrow

This clause applies to the use of a bank account for project escrow.

The Parties agree to establish a bank account in escrow for funds relating to this Agreement. The escrow account will hold funds related to specific milestones or performance conditions, and the funds will be released only when the agreed-upon conditions are met.

This clause applies to the use of a bank account for tax-related payments.

The Parties agree to maintain a bank account for the purpose of collecting and paying any taxes due under this Agreement. All relevant taxes, including income tax, VAT, or withholding tax, will be paid from this account, and the Parties will jointly ensure compliance with tax laws.

Bank account for revenue deposit

This clause applies to the use of a bank account for revenue deposit.

The Parties agree to designate a bank account for depositing any revenue generated through the activities defined in this Agreement. All income, including profits from sales, services, or licensing, will be deposited into this account and distributed according to the revenue-sharing agreement.

Bank account for settling liquidated damages

This clause applies to the use of a bank account for settling liquidated damages.

In the event of liquidated damages being imposed under this Agreement, the Parties agree to establish a bank account for the deposit and payment of any liquidated damages due. Payments will be made from this account to the affected Party as per the terms of this Agreement.

Bank account for holding contingency funds

This clause applies to the use of a bank account for holding contingency funds.

The Parties agree to establish a separate bank account to hold contingency funds. These funds will be reserved for unforeseen expenses or events and will be used only with mutual consent for matters arising unexpectedly during the execution of this Agreement.

Bank account for intellectual property licensing fees

This clause applies to the use of a bank account for intellectual property licensing fees.

The Parties agree to maintain a bank account for the collection and distribution of licensing fees for intellectual property covered under this Agreement. All royalty payments or licensing fees will be deposited into this account and allocated according to the agreed distribution percentages.

Bank account for project advance payments

This clause applies to the use of a bank account for project advance payments.

The Parties agree to establish a bank account to collect any advance payments made for project-related activities under this Agreement. These advance payments will be applied to future obligations, and both Parties will review and agree on how funds are spent.

Bank account for settling third-party claims

This clause applies to the use of a bank account for settling third-party claims.

The Parties agree to designate a bank account for settling third-party claims that may arise during the course of this Agreement. Any claims or disputes involving third parties will be paid from this account, as agreed by the Parties.

Bank account for funding capital expenditures

This clause applies to the use of a bank account for funding capital expenditures.

The Parties agree to maintain a bank account specifically for funding capital expenditures incurred under this Agreement. All costs related to the purchase or lease of capital assets will be paid from this account, and both Parties will approve any expenditures.

Bank account for customer deposits

This clause applies to the use of a bank account for customer deposits.

The Parties agree to establish a designated bank account to hold any customer deposits made in connection with the goods or services covered under this Agreement. These deposits will be kept in the account until services are rendered or products are delivered.

Bank account for distribution of dividends

This clause applies to the use of a bank account for the distribution of dividends.

The Parties agree to designate a bank account for the distribution of dividends earned from the activities under this Agreement. Dividend payments will be made from this account and will be distributed based on the agreed-upon profit-sharing ratios.

Bank account for managing operational expenses

This clause applies to the use of a bank account for managing operational expenses.

The Parties agree to maintain a bank account for the payment of operational expenses related to this Agreement. The account will be used to cover routine business costs, including staff salaries, office supplies, and other operational expenses.

Bank account for insurance fund management

This clause applies to the use of a bank account for insurance fund management.

The Parties agree to establish a bank account to manage funds allocated for insurance premiums and claims under this Agreement. This account will be used exclusively for insurance-related transactions and will be administered jointly.

Bank account for payment of service fees

This clause applies to the use of a bank account for payment of service fees.

The Parties agree to designate a bank account for the payment of service fees arising under this Agreement. All payments related to services provided by contractors, vendors, or third parties will be processed through this account.

Bank account for reimbursing operational costs

This clause applies to the use of a bank account for reimbursing operational costs.

Each Party agrees to maintain a bank account for the reimbursement of operational costs incurred during the performance of this Agreement. Reimbursement claims will be reviewed and paid from this account, subject to approval by both Parties.

Bank account for holding capital contributions

This clause applies to the use of a bank account for holding capital contributions.

The Parties agree to establish a bank account for holding any capital contributions made under this Agreement. The contributions will be used to fund the operational activities of the Agreement and will be withdrawn only with the consent of both Parties.

Bank account for handling contractual obligations

This clause applies to the use of a bank account for handling contractual obligations.

The Parties agree to designate a bank account to handle all funds related to the contractual obligations of this Agreement, including payments to third parties, deposits, and any other required financial obligations.

Bank account for advance funding

This clause applies to the use of a bank account for advance funding.

The Parties agree to maintain a bank account for the deposit and management of any advance funding made under this Agreement. The funds will be used to cover initial costs and expenses incurred during the Agreement's execution.

Bank account for payment of penalties or damages

This clause applies to the use of a bank account for payment of penalties or damages.

In the event of penalties or damages arising from the breach of this Agreement, the Parties agree to designate a bank account for the payment of such amounts. The account will be used solely for this purpose and will be administered according to the terms outlined in this Agreement.

Bank account for receiving contract payments

This clause applies to the use of a bank account for receiving contract payments.

Each Party agrees to designate a specific bank account for the receipt of payments due under this Agreement. All payments will be made to the designated account, and both Parties will ensure that the account details are kept up to date.

Bank account for performance guarantees

This clause applies to the use of a bank account for performance guarantees.

The Parties agree to maintain a bank account for holding performance guarantees related to this Agreement. Any required guarantees or bonds will be deposited into this account and released only upon the completion of agreed-upon conditions.

Bank account for managing sales revenue

This clause applies to the use of a bank account for managing sales revenue.

The Parties agree to designate a bank account to collect sales revenue generated through this Agreement. All sales payments will be deposited into this account, and revenue will be allocated according to the agreed terms in the Agreement.

Bank account for payment of subcontractor invoices

This clause applies to the use of a bank account for payment of subcontractor invoices.

The Parties agree to use a designated bank account to pay subcontractor invoices under this Agreement. All amounts due to subcontractors for work completed will be paid from this account in accordance with the terms specified in their contracts.

Bank account for paying royalties and licensing fees

This clause applies to the use of a bank account for paying royalties and licensing fees.

The Parties agree to establish a designated bank account to manage the payment of royalties and licensing fees under this Agreement. All payments related to intellectual property use will be processed through this account.

Bank account for transaction processing fees

This clause applies to the use of a bank account for transaction processing fees.

The Parties agree to designate a bank account to cover any transaction processing fees incurred under this Agreement. This account will handle all fees related to banking, currency exchange, or payment processing.

Bank account for settlement of mutual obligations

This clause applies to the use of a bank account for settlement of mutual obligations.

Each Party agrees to maintain a bank account for settling mutual financial obligations arising under this Agreement. Payments for any joint costs, shared responsibilities, or refunds will be processed through this account.

Bank account for holding employee benefits funds

This clause applies to the use of a bank account for holding employee benefits funds.

The Parties agree to establish a bank account specifically for holding funds related to employee benefits under this Agreement. This account will manage contributions to retirement plans, health insurance premiums, and other benefits.

Bank account for business development contributions

This clause applies to the use of a bank account for business development contributions.

The Parties agree to maintain a designated bank account for contributions related to business development efforts under this Agreement. Any funds earmarked for marketing, research, or other development purposes will be deposited into this account.

Bank account for funding project delays

This clause applies to the use of a bank account for funding project delays.

The Parties agree to maintain a bank account specifically for addressing funding needs arising from delays in project milestones. Any necessary funds to cover the cost of such delays will be deposited into this account.

This clause applies to the use of a bank account for payment of legal fees.

The Parties agree to designate a bank account for the payment of legal fees associated with this Agreement. Any legal expenses, including fees for contract disputes, regulatory matters, or other legal services, will be paid from this account.

Bank account for managing project budgets

This clause applies to the use of a bank account for managing project budgets.

The Parties agree to establish a designated bank account for the management of the project budget under this Agreement. All expenses related to the execution of the project will be paid from this account, and the budget will be monitored regularly.

Bank account for allocation of contingency funds

This clause applies to the use of a bank account for allocation of contingency funds.

The Parties agree to designate a bank account to hold contingency funds allocated for unforeseen expenses or emergencies during the term of this Agreement. These funds will be accessed only with mutual consent, and withdrawals will be used to cover unexpected costs.

Bank account for management of grant funds

This clause applies to the use of a bank account for management of grant funds.

The Parties agree to establish a bank account for the management of any grant funds received under this Agreement. These funds will be used solely for the purposes outlined in the grant agreement, and both Parties will have access to the account.

Bank account for employee wage disbursements

This clause applies to the use of a bank account for employee wage disbursements.

The Parties agree to designate a bank account to manage employee wages and salaries under this Agreement. This account will be used exclusively to disburse employee wages, including bonuses, commissions, and other compensation.

Bank account for receiving and distributing investments

This clause applies to the use of a bank account for receiving and distributing investments.

The Parties agree to establish a bank account for the receipt and distribution of investment funds made under this Agreement. Any capital contributions or investments received will be deposited into this account, and distributions will be made according to the agreed investment terms.

Bank account for escrow of performance payments

This clause applies to the use of a bank account for escrow of performance payments.

The Parties agree to create an escrow bank account to hold payments made for performance under this Agreement. Payments will be held in escrow until the Parties agree that the performance requirements have been satisfactorily completed.

Bank account for refunding overpayments

This clause applies to the use of a bank account for refunding overpayments.

The Parties agree to designate a bank account for handling any refunds of overpayments under this Agreement. If either Party overpays, the excess amount will be returned from this account to the appropriate Party.

Bank account for tax withholding

This clause applies to the use of a bank account for tax withholding.

Each Party agrees to designate a bank account for the deposit and payment of any tax withholding amounts required under this Agreement. This account will be used to collect any taxes owed and ensure compliance with applicable tax laws.

Bank account for maintaining operating capital

This clause applies to the use of a bank account for maintaining operating capital.

The Parties agree to maintain a bank account for holding operating capital that will be used to fund the day-to-day operations of the business under this Agreement. The account will be monitored, and funds will be used as needed to cover operating expenses.

Bank account for debt settlement

This clause applies to the use of a bank account for debt settlement.

The Parties agree to establish a bank account specifically for the settlement of any debts or financial obligations arising under this Agreement. Any amounts owed by one Party to another will be paid from this account in accordance with the agreed payment terms.

Bank account for managing project revenues

This clause applies to the use of a bank account for managing project revenues.

The Parties agree to designate a bank account to manage any revenues generated from the project under this Agreement. All revenues will be deposited into this account, and distributions will be made as per the agreed revenue-sharing arrangement.

Bank account for managing loan repayments

This clause applies to the use of a bank account for managing loan repayments.

The Parties agree to designate a bank account for the repayment of any loans or debt incurred under this Agreement. The repayment schedule will be followed, and payments will be made from this account until the loan is fully settled.

Bank account for handling fines and penalties

This clause applies to the use of a bank account for handling fines and penalties.

The Parties agree to establish a designated bank account to handle any fines or penalties incurred under this Agreement. These payments will be made from this account, and both Parties will be notified of any fines or penalties incurred.

Bank account for operational transactions

This clause applies to the use of a bank account for operational transactions.

The Parties agree to maintain a bank account for all operational transactions related to this Agreement. Any payments or deposits related to day-to-day activities will be processed through this account, and regular reconciliations will be performed.

This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.

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