Legal Account Closure Letter

Legal Account Closure Letter

This Legal Account Closure Letter (the "Letter") is made as of by and between Account Holder: and Account Provider: .

Recitals

WHEREAS, Account Holder maintains an account with Account Provider identified as Account Number: and Account Type: maintained at Branch/Office: .

WHEREAS, Account Holder desires to close the referenced account and to direct the disposition of any remaining funds, and Account Provider is willing to close the account subject to the terms and conditions set forth herein.

WHEREAS, the parties intend for this Letter to constitute a binding authorization and release relating to final accounting and transfer of funds.

NOW, THEREFORE

In consideration of the mutual covenants and agreements contained in this Letter, the parties agree as follows:

1. Definitions

"Account" means the account identified above. "Effective Closure Date" means the date on which Account Provider completes closure procedures and final disbursement, as set forth in Section 3. "Final Funds" means any remaining positive balance on the Account after debits, holds, fees and other authorized adjustments.

2. Authorization to Close Account

Account Holder hereby directs and authorizes Account Provider to close the Account and to take all actions reasonably necessary to effectuate the closure, including but not limited to suspending transactions, liquidating marketable cash equivalents, and releasing holds. Account Holder warrants that this authorization is given freely and that Account Holder has full authority to request closure of the Account.

3. Effective Date of Closure

The Effective Closure Date shall be or such earlier date as Account Provider may determine after processing pending debits and holds.

4. Disposition of Final Funds

Account Holder directs that Final Funds be disposed of as follows (select one or more as applicable and complete the requested information):

Issue a check payable to Account Holder and mail to:

Wire transfer to the following account:

Transfer balance to another account maintained by Account Holder with Account Provider. Target account number:

5. Final Accounting and Statements

Account Provider shall provide a final account statement and reconciliation reflecting all transactions and fees through the Effective Closure Date. Delivery of the final statement shall be to the notice address specified below or to the email address provided. Account Holder requests final statement delivery method:

Mail   Email   Online portal download

6. Representations and Warranties

Account Holder represents and warrants that: (a) the person signing this Letter on behalf of Account Holder is duly authorized and has full power and authority to close the Account; (b) there are no liens, encumbrances, or third-party claims to the Account other than those disclosed in writing to Account Provider; and (c) the instructions set forth in this Letter are accurate and complete.

7. Indemnification

To the fullest extent permitted by law, Account Holder shall indemnify, defend and hold harmless Account Provider and its officers, directors, employees and agents from and against any and all claims, losses, damages, liabilities, costs and expenses (including reasonable attorneys' fees) arising from or related to Account Holder's directions, representations or breaches under this Letter, except to the extent such claims result solely from Account Provider's gross negligence or willful misconduct.

8. Confidentiality

Except as required by law or regulatory authority, the parties agree to treat the terms and existence of this Letter and related non-public information as confidential and shall not disclose such information to third parties without the prior written consent of the other party.

9. Notices

All notices, demands, and communications required or permitted under this Letter shall be in writing and shall be delivered by hand, sent by certified mail, or by overnight courier to the addresses set forth below (or such other address as a party may specify in writing).

10. Release and Finality

Upon disbursement of Final Funds in accordance with Section 4 and delivery of the final statement, the Account shall be deemed closed and Account Provider shall have no further obligation to Account Holder with respect to the closed Account, except for obligations arising from manifest errors in the final accounting or obligations that survive by law.

11. Governing Law

This Letter shall be governed by and construed in accordance with the laws of the state or jurisdiction in which Account Provider maintains its principal office, without regard to conflict of law principles.

12. Entire Agreement

This Letter, together with any exhibits or attachments hereto, constitutes the entire agreement between the parties with respect to the Account closure and supersedes all prior negotiations, understandings and agreements, whether written or oral, regarding the subject matter hereof.

13. Severability

If any provision of this Letter is held to be invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions shall not be affected or impaired.

14. Amendments; Waiver; Counterparts

No amendment or waiver of any provision of this Letter shall be effective unless in writing and signed by both parties. No failure or delay by either party in exercising any right shall operate as a waiver of that right. This Letter may be executed in counterparts, each of which shall be deemed an original and all of which shall constitute one instrument.

15. Additional Representations (if entity)

Please indicate Account Holder entity type and provide corporate or organizational authorization documentation where applicable:

Individual   Corporation   Partnership   LLC

16. Additional Instructions

By signing below, each party certifies that it has read and understands this Letter, that the information provided herein is true and correct, and that it has the authority to execute this Letter and to bind the party on whose behalf it signs.

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