Banking Functions Sample Clauses

The "Banking Functions" clause defines the responsibilities and procedures related to the handling of financial transactions and banking activities within an agreement. It typically outlines which party is responsible for opening, maintaining, and operating bank accounts, as well as the processes for making payments, receiving funds, and reconciling accounts. For example, it may specify that all payments under the contract must be made through a designated bank account or that certain approvals are required for withdrawals. The core practical function of this clause is to ensure clarity and accountability in the management of financial operations, reducing the risk of disputes or mismanagement of funds.
Banking Functions. Each party shall retain responsibility for all banking functions with respect to all such bank accounts of such party, and the Service Provider shall retain responsibility for all banking functions with respect to all such bank accounts of clients, including performing daily operational activities, account maintenance and contracts with the respective banks, and bank reconciliations. These functions shall be performed in accordance with the applicable standards set forth herein.
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Banking Functions. If you subscribe to this service, you, or someone you have authorized by giving them your Access Codes, may use Online Banking to: (a) transfer funds between your accounts, (b) obtain account balances and transaction information for your accounts, (c) review the history of transactions, and (d) send electronic mail (e-mail) to Customer Service Representatives at the Bank. These features of Online Banking are limited by and subject to the terms and conditions described below: Your ability to transfer funds between certain accounts is limited by federal law, as stated in the Deposit Agreements. For example, you can make no more than six (6) transfers from a savings or money market savings account during any one (1) calendar month or statement cycle (the period from one statement to the next) or similar period of at least four weeks, to another of your accounts with us or to a third party by means of a preauthorized or automatic transfer, or telephonic (including data transmission) agreement, order or instruction or by check, draft, debit card, or similar order made by you and payable to third parties. A “preauthorized transfer” includes any arrangements by us to pay a third party from your account upon written or oral instruction (including an order received through an automated clearing house (ACH) or any arrangement by us to pay a third party from your account at a predetermined time or on a fixed schedule). Transfers made using both Online Banking and other transfer methods described in the Deposit Agreements are counted against the permissible number of transfers. Instructions to transfer funds between deposit accounts must be sent by 4:00 p.m. Central Time to be processed the SAME business day. Transfers received after 4:00 p.m. Central Time will be processed ONE business day later. Each transfer made from a loan account (e.g., an overdraft checking account) is treated as a cash advance from that account and is subject to terms of any loan or other applicable agreement you may have with the Bank. The Bank will not immediately receive e-mail that you send. Therefore, you should not rely on e-mail if you need to communicate to the Bank immediately. For example, if you need to stop payment on a check, to report a lost or stolen card, or to report an unauthorized transaction from one of your accounts, you should contact the Bank immediately by calling our Online CSR (see section 12). The Bank will not take actions based on your e-mail requests until the Ban...
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Banking Functions. 16 D. Assignment...................................................... 16
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Banking Functions. 17 D. Assignment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
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Related to Banking Functions

  • CERTIFYING FUNCTION Department of Information Resources acting as the owner of the DIR Contracts hereby certifies the eligibility of the DIR Customer to use the DIR Contracts.

  • MANAGEMENT FUNCTIONS B.1 The Association recognizes that the management of the Hospital and the direction of working forces are fixed exclusively in the Hospital and shall remain solely with the Hospital except as specifically limited by the provisions of this Agreement and, without restricting the generality of the foregoing, the Association acknowledges that it is the exclusive function of the Hospital to: (a) maintain order, discipline and efficiency; (b) hire, assign, retire, discharge, direct, promote, demote, classify, transfer, lay- off, recall, and suspend or otherwise discipline nurses, provided that a claim of discharge or discipline without just cause may be the subject of a grievance and dealt with as hereinafter provided; (c) determine, in the interest of efficient operation and high standards of service, job rating and classification, the hours of work, work assignments, methods of doing the work, and the working establishment for the service; (d) generally to manage the operation that the Hospital is engaged in and, without restricting the generality of the foregoing, to determine the number of personnel required, methods, procedures, and equipment in connection therewith; (e) make, enforce, and alter from time to time reasonable rules and regulations to be observed by the nurses which are not inconsistent with the provisions of this Agreement. B.2 These rights shall not be exercised in a manner inconsistent with the provisions of this Agreement.

  • MIXED FUNCTIONS An employee engaged for more than two hours during one day or shift on duties carrying a higher rate than his or her ordinary classification shall be paid the higher rate for such day or shift. If for two hours or less during one day or shift he or she shall be paid the higher rate for the time so worked.

  • Additional Functions Upon receipt of Proper Instructions, the Custodian shall take all such other actions as specified in such Proper Instructions and as shall be reasonable or necessary with respect to Repurchase Agreement transactions and the Securities and funds transferred and received pursuant to such transactions, including, without limitation, all such actions as shall be prescribed in the event of a default under a Repurchase Agreement.

  • CUSTOMER SERVICE FUNCTIONS The Servicer shall handle all Customer inquiries and other Customer service matters according to the same procedures it uses to service Customers with respect to its own charges.