This form is used when the Lessor is the owner of an undivided interest in and to the oil, gas, and other minerals, subject to a Lease designates another bank, its successors or assigns, instead of the depository bank named in the Lease or in any other agreement prior to this Agreement, as the Depository for any rentals and shut-in gas well royalties payable under the terms of the Lease.
The Bexar Texas Change of Depository Agreement refers to a legal document that outlines the process and terms for transferring funds held in a particular depository account to a new financial institution. This agreement is specifically relevant to individuals and entities based in Bexar County, Texas, who wish to change their depository or banking arrangements. This agreement is typically initiated when an account holder decides to switch their primary financial institution for various reasons, such as seeking better interest rates, enhanced services, or more suitable banking options. The Bexar Texas Change of Depository Agreement ensures a smooth transition of funds and facilitates the closing of the existing account with the previous depository. The agreement generally includes detailed information about the account holder, such as their name, address, and contact details, along with the identification of the current depository institution. It also specifies the new financial institution where the funds will be transferred, including the bank's name, address, and account details. Furthermore, the Bexar Texas Change of Depository Agreement outlines the steps to be followed for the transfer of funds, including the timeline for closure of the current account, any associated fees, and any necessary documentation required by the new financial institution. Additionally, it may cover matters such as the transfer of automatic payment arrangements, direct deposits, and any linked accounts that need to be updated or redirected. Types of Bexar Texas Change of Depository Agreements may include specific variations tailored to different entities or individuals, such as: 1. Individual Change of Depository Agreement: This agreement is designed for sole account holders who wish to transfer their personal funds from one depository to another. 2. Business Change of Depository Agreement: This type of agreement is specifically relevant to businesses or organizations operating in Bexar County, Texas. It caters to the transfer of company funds to a new financial institution. 3. Joint Account Change of Depository Agreement: This agreement is applicable to joint account holders who jointly decide to shift their funds from one depository to another. In conclusion, the Bexar Texas Change of Depository Agreement is a crucial legal document that enables individuals and entities in Bexar County to smoothly transfer funds from one depository to another. It ensures a transparent and efficient process while considering the specific needs and requirements of different account holders.
