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.
College Station Texas Change of Depository Agreement is a legal document that outlines the process and terms involved in transferring or changing the depository for certain funds or assets in College Station, Texas. This agreement is typically entered into between a government entity, such as a city or municipality, and a financial institution that acts as the depository for the entity's funds. In simpler terms, this agreement signifies a shift or transition from one authorized banking institution to another, where the government entity holds its funds. The purpose is to facilitate smoother and more efficient financial transactions, manage the entity's assets, and ensure compliance with applicable state and federal regulations. The specific details and provisions of a College Station Texas Change of Depository Agreement may vary depending on the particular circumstances and requirements of the government entity involved. However, the agreement typically covers key aspects such as: 1. Parties involved: The agreement will identify the government entity, often referred to as "the City," and the financial institution designated as the new depository. 2. Effective date and term: The agreement will specify the date when the new depository arrangement comes into effect and the duration or term for which it is valid (e.g., a certain number of years). 3. Scope of services: The agreement will outline the scope of services provided by the new depository, including deposit and withdrawal procedures, account management, and investment options, if applicable. 4. Roles and responsibilities: The agreement will define the obligations and responsibilities of both parties, such as maintaining accurate records, providing statements, and adhering to applicable laws and regulations. 5. Insurance and security: The agreement may include provisions related to insurance coverage for deposited funds, fraud protection measures, and procedures for reporting and resolving any discrepancies or unauthorized activities. 6. Fees and compensation: The agreement may specify any fees or compensation to be paid by the government entity to the new depository for the services rendered. 7. Termination and amendment: The agreement will outline the conditions under which either party can terminate the agreement and the process for making any changes or amendments to the agreement. It's worth noting that while the general structure and content of a College Station Texas Change of Depository Agreement remain consistent, there may be specific types or variations of the agreement based on the nature of the government entity or the purpose of the funds involved. For example, there could be agreements tailored specifically for cities, school districts, or other local government entities within the College Station, Texas area. In summary, a College Station Texas Change of Depository Agreement establishes the legal framework for transferring or changing the depository for government funds in College Station, Texas. It ensures effective management and compliance with financial regulations while safeguarding the assets belonging to the government entity involved.College Station Texas Change of Depository Agreement is a legal document that outlines the process and terms involved in transferring or changing the depository for certain funds or assets in College Station, Texas. This agreement is typically entered into between a government entity, such as a city or municipality, and a financial institution that acts as the depository for the entity's funds. In simpler terms, this agreement signifies a shift or transition from one authorized banking institution to another, where the government entity holds its funds. The purpose is to facilitate smoother and more efficient financial transactions, manage the entity's assets, and ensure compliance with applicable state and federal regulations. The specific details and provisions of a College Station Texas Change of Depository Agreement may vary depending on the particular circumstances and requirements of the government entity involved. However, the agreement typically covers key aspects such as: 1. Parties involved: The agreement will identify the government entity, often referred to as "the City," and the financial institution designated as the new depository. 2. Effective date and term: The agreement will specify the date when the new depository arrangement comes into effect and the duration or term for which it is valid (e.g., a certain number of years). 3. Scope of services: The agreement will outline the scope of services provided by the new depository, including deposit and withdrawal procedures, account management, and investment options, if applicable. 4. Roles and responsibilities: The agreement will define the obligations and responsibilities of both parties, such as maintaining accurate records, providing statements, and adhering to applicable laws and regulations. 5. Insurance and security: The agreement may include provisions related to insurance coverage for deposited funds, fraud protection measures, and procedures for reporting and resolving any discrepancies or unauthorized activities. 6. Fees and compensation: The agreement may specify any fees or compensation to be paid by the government entity to the new depository for the services rendered. 7. Termination and amendment: The agreement will outline the conditions under which either party can terminate the agreement and the process for making any changes or amendments to the agreement. It's worth noting that while the general structure and content of a College Station Texas Change of Depository Agreement remain consistent, there may be specific types or variations of the agreement based on the nature of the government entity or the purpose of the funds involved. For example, there could be agreements tailored specifically for cities, school districts, or other local government entities within the College Station, Texas area. In summary, a College Station Texas Change of Depository Agreement establishes the legal framework for transferring or changing the depository for government funds in College Station, Texas. It ensures effective management and compliance with financial regulations while safeguarding the assets belonging to the government entity involved.
