Laserfiche WebLink
<br /> <br />TM-1429 Controlled Disbursement Service Description Page 5 of 5 <br />Revised 04-30-2014 <br />if Bank provides Company with one or more of those Services. <br /> <br />13. Termination. Bank may terminate this Service, close the Funding Account, and instruct the <br />Disbursing Bank(s) to close Disbursement Account(s), immediately upon Bank’s sending <br />Company written or oral notice (confirmed in writing) of such action if: <br /> <br />(a) Company fails at any time to fund the Funding Account as required in this Service <br />Description, <br /> <br />(b) any lawsuit or other action or proceeding is filed or instituted by any federal or state <br />agency alleging, or any Disbursing Bank receives an opinion of counsel, that this Service <br />or any material term or condition of this Service violates any law or regulation, <br /> <br />(c) Bank’s agreement with any Disbursing Bank concerning this Service is suspended or <br />terminated for any reason with respect to all Bank’s customers receiving the Service or <br />with respect only to Company, <br /> <br />(d) the occurrence of any default by Company under the other Service Documentation or <br />under any other agreement or instrument signed by Company in Bank’s or the <br />Disbursing Bank’s favor including without limitation any loan agreement or promissory <br />note, <br /> <br />(e) Bank determines that one or more conditions exist or events have occurred which might <br />indicate, or result in, a material adverse change in Company’s operations, business, <br />property or assets or its condition (financial or otherwise). <br /> <br />Upon termination of this Service, Company will, in accordance with such instructions as Bank or <br />the Disbursing Bank may give, cease to issue Debits on the Disbursement Account(s), and the <br />Disbursing Bank will close the Disbursement Account(s) and stop processing Debits. Company <br />will continue to be liable for all Debits issued on the Disbursement Account(s) prior to <br />termination and for all Debits the Disbursing Bank is obligated to pay. The provisions of <br />Sections 4, 7, 8, 10, 12 and 13 of this Service Description will survive termination of the Service. <br /> <br />14. Governing Law. Except to the extent governed by federal law and regulations, the law and <br />regulations of the state in which the Disbursing Bank is located will govern its performance of <br />the Service. <br />© 2014 Wells Fargo Bank, N.A. All rights reserved. <br />6.1.D. - Page 97