Cd Pledge Agreement
TRANSMISSION – “transfer”, any change in ownership, rights of withdrawal or rights of survival, including (but not) the seizure or assignment of this account as collateral. You may not transfer the account without our written consent. The fiduciary account is subject to a separate agreement. We will abide by the terms of any separate agreement that clearly relates to this account and that you submit to us. Any additional consistency requirements listed here also apply. The tenant`s only assets are the right to use, —————- occupy, operate and purchase the project under the lease agreement, cash and CDs that the tenant has mortgaged to the new borrower under the CD deposit agreement. PROMISE – All promises in this account (which we have accepted) must first be honored before the rights of a joint account survivor, payment payee, or trustee account beneficiary take effect. For example, if a tenant mortgages the account to pay a debt and dies, the surviving co-lessor`s rights to the account are first subject to payment of the debt. The only assets of the new borrower are the project ———————-, cash and the CDs that have been mortgaged to him by the tenant, described in and according to the cd deposit contract. A certificate-backed loan is a type of agreement in which you mortgage some sort of deposit account to a financial institution in exchange for access to a sum of money. . . .