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 Houston Texas Change of Depository Agreement is a legal document that outlines the process and terms of changing the depository for financial transactions in the city of Houston, Texas. This agreement can be specific to various entities such as banks, credit unions, or other financial institutions operating within the city. The purpose of this agreement is to provide a framework for the transfer of deposits, management of funds, and overall financial operations between the depository institution and the city of Houston. It establishes the responsibilities and obligations of both parties involved, ensuring a smooth transition and maintaining the integrity of financial transactions. There may be different types of Houston Texas Change of Depository Agreement depending on the specific needs of the city and the type of depository institution involved. For example, there could be agreements for changing the depository for general municipal funds, specific departments or agencies within the city, or even for specialized funds such as pension or retirement funds. Key elements typically covered in the Houston Texas Change of Depository Agreement include: 1. Parties Involved: This section identifies the parties involved in the agreement, including the city of Houston and the specific depository institution. It may also include references to any relevant governing bodies overseeing the agreement. 2. Purpose and Scope: This section outlines the purpose and scope of the agreement, specifying the type of funds being transferred and managed by the depository institution. It may also include any limitations or restrictions on the use of these funds. 3. Terms and Conditions: This section details the terms and conditions under which the depository institution will operate in managing the city's funds. This may include information related to interest rates, fees, and other financial considerations. 4. Reporting and Auditing: The agreement generally includes provisions for regular reporting and auditing of financial activities by the depository institution to ensure transparency and accountability. This may involve the submission of financial statements, reconciliation records, and other relevant documentation. 5. Termination and Amendments: This section outlines the procedures and circumstances under which the agreement can be terminated or amended, including any notice requirements or penalties associated with such actions. 6. Indemnification and Liability: This section addresses the liability of both parties involved in the agreement and specifies the extent of indemnification in case of breaches or financial losses. It is important to note that the specifics of the Houston Texas Change of Depository Agreement may vary depending on the unique circumstances and requirements of each agreement. Therefore, it is advisable to consult legal professionals or seek guidance from the appropriate city authorities for the exact terms and provisions of the agreement in question.The Houston Texas Change of Depository Agreement is a legal document that outlines the process and terms of changing the depository for financial transactions in the city of Houston, Texas. This agreement can be specific to various entities such as banks, credit unions, or other financial institutions operating within the city. The purpose of this agreement is to provide a framework for the transfer of deposits, management of funds, and overall financial operations between the depository institution and the city of Houston. It establishes the responsibilities and obligations of both parties involved, ensuring a smooth transition and maintaining the integrity of financial transactions. There may be different types of Houston Texas Change of Depository Agreement depending on the specific needs of the city and the type of depository institution involved. For example, there could be agreements for changing the depository for general municipal funds, specific departments or agencies within the city, or even for specialized funds such as pension or retirement funds. Key elements typically covered in the Houston Texas Change of Depository Agreement include: 1. Parties Involved: This section identifies the parties involved in the agreement, including the city of Houston and the specific depository institution. It may also include references to any relevant governing bodies overseeing the agreement. 2. Purpose and Scope: This section outlines the purpose and scope of the agreement, specifying the type of funds being transferred and managed by the depository institution. It may also include any limitations or restrictions on the use of these funds. 3. Terms and Conditions: This section details the terms and conditions under which the depository institution will operate in managing the city's funds. This may include information related to interest rates, fees, and other financial considerations. 4. Reporting and Auditing: The agreement generally includes provisions for regular reporting and auditing of financial activities by the depository institution to ensure transparency and accountability. This may involve the submission of financial statements, reconciliation records, and other relevant documentation. 5. Termination and Amendments: This section outlines the procedures and circumstances under which the agreement can be terminated or amended, including any notice requirements or penalties associated with such actions. 6. Indemnification and Liability: This section addresses the liability of both parties involved in the agreement and specifies the extent of indemnification in case of breaches or financial losses. It is important to note that the specifics of the Houston Texas Change of Depository Agreement may vary depending on the unique circumstances and requirements of each agreement. Therefore, it is advisable to consult legal professionals or seek guidance from the appropriate city authorities for the exact terms and provisions of the agreement in question.
