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 Odessa Texas Change of Depository Agreement refers to a legal document that outlines the transfer of funds or assets from one depository institution to another in the city of Odessa, Texas. When an entity, such as a government agency or educational institution, wishes to change its banking relationship or switch depository institutions, it must execute a Change of Depository Agreement to facilitate the process. This agreement serves as a formal understanding between the entity and the new depository institution, detailing the terms, conditions, and responsibilities involved in the transfer. It sets forth the procedures that must be followed when depositing and withdrawing funds, as well as the maintenance of proper financial records and reporting requirements. Keywords: Odessa Texas, Change of Depository Agreement, transfer of funds, assets, depository institution, legal document, banking relationship, government agency, educational institution, switch, terms, conditions, responsibilities, depositing, withdrawing funds, financial records, reporting requirements. Different types of Odessa Texas Change of Depository Agreement include: 1. Government Change of Depository Agreement: This type of agreement is applicable when a government entity, such as a municipal government or state agency, decides to change its depository institution. It outlines the specific requirements and regulations that govern the transfer of funds and assets owned or managed by the government. 2. Educational Institution Change of Depository Agreement: This agreement is relevant to educational institutions based in Odessa, Texas, including schools, colleges, and universities. It outlines the procedures and guidelines for transferring financial resources between depository institutions and ensures compliance with state and federal regulations. 3. Corporate Change of Depository Agreement: When a corporate entity, such as a business or non-profit organization, opts to switch its banking relationship or depository institution in Odessa, Texas, a Corporate Change of Depository Agreement is executed. This agreement sets forth the terms and conditions of the transfer, ensuring seamless continuity of financial operations. 4. Non-Profit Change of Depository Agreement: Non-profit organizations operating in Odessa, Texas, may require a specialized Change of Depository Agreement. This document specifies the procedures and considerations unique to their financial operations when transferring funds or assets from one depository institution to another. Keywords: Odessa Texas, Change of Depository Agreement, government entity, municipal government, state agency, transfer of funds, assets, educational institution, schools, colleges, universities, compliance, corporate entity, businesses, non-profit organization, banking relationship, continuity, financial operations.
