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.
Lewisville Texas Change of Depository Agreement is a legal document that outlines the terms and conditions governing the transfer of depository services from one financial institution to another within the city of Lewisville, Texas. This agreement is typically entered into when a government entity, such as a city, school district, or county, decides to switch its primary depository to a new bank or credit union. The Lewisville Texas Change of Depository Agreement is crucial as it ensures a smooth transition of financial operations from one depository institution to another. It specifies the rights, responsibilities, and obligations of both the government entity and the new financial institution. Some key provisions typically included in a Lewisville Texas Change of Depository Agreement are: 1. Scope and Purpose: This section defines the purpose of the agreement and clarifies that it applies only to the designated government entity and the specified financial institution. 2. Definitions: This section provides clear definitions for terms used throughout the document to avoid any misunderstandings. 3. Effective Date: The agreement specifies the date on which the new financial institution will become the official depository for the government entity. 4. Roles and Responsibilities: It outlines the duties and responsibilities of both the government entity and the financial institution concerning the handling of funds, transaction processing, account management, and reporting requirements. 5. Term and Termination: This section details the duration of the agreement and the conditions under which either party may terminate the agreement. 6. Security and Insurance: It addresses the need for adequate security measures and insurance coverage to protect the funds held at the depository institution. 7. Indemnification: This provision clarifies the liability of each party and outlines the process for resolving disputes or claims related to the agreement. 8. Confidentiality: It emphasizes the importance of maintaining the confidentiality of the government entity's financial information and records. 9. Governing Law: The agreement defines the jurisdiction and applicable laws governing the interpretation and enforcement of the agreement. 10. Amendments: This section allows for modifications and amendments to be made to the agreement if required in the future. Although there might not be different types of Lewisville Texas Change of Depository Agreements, variations may exist depending on the specific needs and requirements of the government entity and the financial institution involved. In conclusion, the Lewisville Texas Change of Depository Agreement is a vital legal document that governs the transition of depository services from one financial institution to another for government entities in Lewisville, Texas. This agreement ensures a smooth transfer of funds and outlines the rights and responsibilities of both parties involved.Lewisville Texas Change of Depository Agreement is a legal document that outlines the terms and conditions governing the transfer of depository services from one financial institution to another within the city of Lewisville, Texas. This agreement is typically entered into when a government entity, such as a city, school district, or county, decides to switch its primary depository to a new bank or credit union. The Lewisville Texas Change of Depository Agreement is crucial as it ensures a smooth transition of financial operations from one depository institution to another. It specifies the rights, responsibilities, and obligations of both the government entity and the new financial institution. Some key provisions typically included in a Lewisville Texas Change of Depository Agreement are: 1. Scope and Purpose: This section defines the purpose of the agreement and clarifies that it applies only to the designated government entity and the specified financial institution. 2. Definitions: This section provides clear definitions for terms used throughout the document to avoid any misunderstandings. 3. Effective Date: The agreement specifies the date on which the new financial institution will become the official depository for the government entity. 4. Roles and Responsibilities: It outlines the duties and responsibilities of both the government entity and the financial institution concerning the handling of funds, transaction processing, account management, and reporting requirements. 5. Term and Termination: This section details the duration of the agreement and the conditions under which either party may terminate the agreement. 6. Security and Insurance: It addresses the need for adequate security measures and insurance coverage to protect the funds held at the depository institution. 7. Indemnification: This provision clarifies the liability of each party and outlines the process for resolving disputes or claims related to the agreement. 8. Confidentiality: It emphasizes the importance of maintaining the confidentiality of the government entity's financial information and records. 9. Governing Law: The agreement defines the jurisdiction and applicable laws governing the interpretation and enforcement of the agreement. 10. Amendments: This section allows for modifications and amendments to be made to the agreement if required in the future. Although there might not be different types of Lewisville Texas Change of Depository Agreements, variations may exist depending on the specific needs and requirements of the government entity and the financial institution involved. In conclusion, the Lewisville Texas Change of Depository Agreement is a vital legal document that governs the transition of depository services from one financial institution to another for government entities in Lewisville, Texas. This agreement ensures a smooth transfer of funds and outlines the rights and responsibilities of both parties involved.
