Correspondent Sample Clauses
The 'Correspondent' clause defines the role and responsibilities of a correspondent bank or intermediary in a financial transaction. Typically, this clause outlines how the correspondent acts on behalf of one of the primary parties, such as processing payments, handling documentation, or facilitating communication between banks in different jurisdictions. By specifying the correspondent's duties and limitations, the clause ensures clarity in the transaction process and helps prevent misunderstandings or disputes regarding the intermediary's actions.
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Correspondent. An entity that, in the ordinary course of business, sells the mortgage loans that it funds and originates in its own name to other lenders. A correspondent performs similar loan processing functions as a broker.
Correspondent. Correspondent shall be solely and exclusively responsible for ensuring that each of activities in which it engages in connection with this Agreement, including but not limited to, the handling of Customer Accounts, the offer or sale of securities, and the qualification and registration of Correspondent or its personnel shall be in material compliance with the laws and regulations of each state and territory having jurisdiction over Correspondent or its activities.
Correspondent. The From and To elements can each optionally contain a Correspondent element. Correspondent elements are used in cases where a party or a connecting hub does not know the originating or receiving organization. The sender, receiver, or connecting hub can use the information in the Correspondent element to identify the unknown organization. Correspondent has the following attribute: The preferred language of the organization, if it is known.
Correspondent. As of the closing Date of the Loan, the Correspondent is NorthMarq Capital, Inc. Lender retains the right to change the Correspondent at any time during the term of the Loan. Borrowers hereby acknowledge that Lender, at Lender’s expense, may utilize Correspondent or other outside third parties selected by Lender in any aspects of the Loan, including, but not limited to, the servicing, administration and monitoring of the Loan. For purposes of this Loan Agreement, where it is referenced that information will be provided to “Correspondent and Lender”, unless designated otherwise by Lender, the information shall be provided to Correspondent, who will provide the same to Lender. Lender may, at any time, request that the information be provided to both Correspondent and Lender or to another third party in place of Correspondent.
Correspondent. The From and To elements can each optionally contain a Correspondent element. Correspondent elements are used in cases where a party or a connecting hub does not know the originating or receiving organization. The sender, receiver, or connecting hub can use the information in the Correspondent element to identify the unknown organization. Correspondent has the following attribute: preferredLanguage (optional) The preferred language of the organization, if it is known. Identify the unknown organization by using a Contact element. For more information, see “Contact” on page 60, Request Clients send requests for operations. Only one Request element is allowed for each cXML envelope element, which simplifies the server implementations, because no de- multiplexing needs to occur when reading cXML documents. The Request element can contain virtually any type of XML data. Typical Request elements are: Request has the following attributes: deploymentMode (optional) Indicates whether the request is a test request or a production request. Allowed values are “production” (default) or “test”. Id This attribute can be used to call out an element and all its children as a target for a digital signing. For more information about digital signatures, see Chapter 18, “cXML Digital Signatures.” Response Servers send responses to inform clients of the results of operations. Because the result of some requests might not have any data, the Response element can optionally contain nothing but a Status element. A Response element can also contain any application-level data. During PunchOut for example, the application-level data is contained in a PunchOutSetupResponse element. The typical Response elements are: Response has the following attribute: Id This attribute can be used to call out an element and all its children as a target for a digital signing. For more information about digital signatures, see Chapter 18, “cXML Digital Signatures.”
Correspondent. In the event that you shall utilize the services of any correspondent in connection with any transaction relating to this agreement or any Draft, or if any other bank shall in any manner participate in any such transaction, each such correspondent or other bank shall, subject only to your rights hereunder, have all of your rights and remedies hereunder, and, if you shall have selected such correspondent or bank with ordinary care, you shall have no responsibility or liability to us for any acts or omissions of any such correspondent or bank.
Correspondent