Define: Held Away Account
Held Away Account means an account linked to a certain service at a financial institution other than [specified organization].
Legal accuracy standard set & glossary spot-checked by Imad Mohammed Nazar , Skadden-trained M&A lawyer, Legal Engineer at GenieAI
Held Away Account means an account linked to a certain service at a financial institution other than [specified organization].
Relevant Circumstances
- When managing assets spread across different financial institutions
- Transactions involving a third-party financial institution
- When managing finances between two different entities