Credit Advice Sample Clauses
The Credit Advice clause serves to formally notify a party that a credit has been issued to their account, typically as a result of a payment, refund, or adjustment. In practice, this clause outlines the process by which such notifications are communicated, specifying the information to be included, such as the credited amount, date, and reference details. Its core function is to ensure transparency and accurate record-keeping in financial transactions, thereby reducing the risk of disputes or misunderstandings regarding account balances.
POPULAR SAMPLE Copied 4 times
Credit Advice. All Advances shall be credited to a demand deposit account maintained by the Borrower with Bank. After the borrowing of any Advance under the Line of Credit in accordance with this Agreement, Bank will mail to the Borrower an advice showing the amount of the Advance and the amount of funds credited into the Borrower's account. Bank's failure to mail the credit advice shall not alter the Borrower's obligation to repay the Loans or make the Bank liable to the Borrower for failure to mail the credit advice.
Credit Advice. After the borrowing of any Advance in accordance with this Agreement, Lender will mail to Borrower at the most recent address shown on Lender's records a credit advice showing the amount of the Advance and the amount of funds credited into Borrower's Account. Within ten (10) days after the date of such advices, Borrower shall notify Lender of any inaccuracy in the credit advices or the lack of authority to borrow the Advance. Failure by Borrower to notify Lender timely shall preclude the Borrower from asserting against Lender the inaccuracy of such advices and/or the lack of authorization of such Advance. Lender's failure to mail the credit advice shall not alter Borrower's obligation to repay the Line of Credit or make Lender liable to Borrower for failure to mail the credit advice.
Credit Advice. After the borrowing of any Advance under the Line of Credit in accordance with this Agreement, Bank will mail to the Borrower an advice showing the amount of the Advance and the amount of funds credited into the Borrower's account. All Advances shall either (1) be credited to a demand deposit account (the "Account") maintained by the Borrower with Bank or (2) transferred by the Bank to an account of the Borrower at another financial institution in accordance with the wire transfer instructions set forth in Schedule II to this Agreement. Any request to transfer funds from the Account by wire transfer shall be governed by Bank's standard Funds Transfer Agreement properly completed and executed by the Borrower. Bank's failure to mail the credit advice shall not alter the Borrower's obligation to repay the Loans or make the Bank liable to the Borrower for failure to mail the credit advice.
Credit Advice. After the borrowing of any Advance in accordance with this Agreement, Whitney will mail to Borrower at the most recent address shown on Whitney's records a credit advice showing the amount of the Advance and the amount of funds credited into Borrower's account. Within ten (10) days after the date of such advices, Borrower shall notify Whitney of any inaccuracy in the credit advices or the lack of authority to borrow the Advance. Failure by Borrower to notify Whitney timely shall preclude the Borrower from asserting against Whitney the inaccuracy of such advices and/or the lack of authorization of such Advance. Whitney's failure to mail the credit advice shall not alter Borrower's obligation to repay the Loan or make Whitney liable to Borrower for failure to mail the credit advice.