How is Held Away Account defined in a legal contract?
- Held Away Account means a user's account with a financial institution different from a certain [organization] that is linked to certain services. Seen in 6 SEC filings
- Held Away Account means an account at an institution other than a certain [organization]. Seen in 4 SEC filings
Note: pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.
yourself to verify these results. We are always keen to point people to source documents.
Which definition should you use?
🤔 has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
Held Away Account means an account linked to a certain service at a financial institution other than [specified organization].
Relevant Contract Types
Relevant Circumstances
- When managing assets spread across different financial institutions
- Transactions involving a third-party financial institution
- When managing finances between two different entities
Relevant Sectors
Genie Definition 2
Held Away Account means an account at an institution not being the [specified organization].
Relevant Contract Types
Relevant Circumstances
- When there's an account not included in the overall business agreement
- Transactions between two separate financial institutions
- When defining a third-party account to avoid specificity
Relevant Sectors
Held Away Account means an account linked to a certain service at a financial institution other than [specified organization].
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