Funds Transfers Sample Clauses
The Funds Transfers clause defines the procedures and requirements for moving money between parties under the agreement. It typically specifies the acceptable methods of transfer, such as wire transfers or electronic payments, and may outline details like timing, account information, and responsibility for transfer fees. This clause ensures that both parties understand how and when payments will be made, reducing the risk of disputes or delays related to financial transactions.
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Funds Transfers. With respect to each Instruction for a Cash transfer, when the Instruction is to credit or pay a party by both a name and a unique numeric or alpha-numeric identifier (e.g., IBAN or ABA or account number), BNY Mellon and any other bank participating in the Cash transfer will be entitled to rely solely on such numeric or alpha-numeric identifier, even if it identifies a party different from the party named. Such reliance on an identifier will apply to beneficiaries named in the Instruction, as well as any financial institution that is designated in the Instruction to act as an intermediary in such Cash transfer. To the extent permitted by applicable law, the Parties will be bound by the rules of any transfer system used to effect a Cash transfer under this Agreement.
Funds Transfers. If any Guarantor shall engage in any transaction as a result of which any Borrower is required to make a mandatory prepayment with respect to the Guaranteed Obligations under the terms of the Credit Agreement (including (a) any issuance or sale of such Guarantor's Stock or (b) any sale of its assets, in each case as permitted thereunder), such Guarantor shall distribute to, or make a contribution to the capital of, one or more of the Borrowers an amount equal to the mandatory prepayment required under the terms of the Credit Agreement.
Funds Transfers. You authorize us to select any means we deem suitable to provide electronic funds transfers initiated by you using the Electronic Banking Services. These choices include banking channels, electronic means, funds transfer systems, mail, courier, or telecommunications services, intermediary banks and other organizations. Funds transfers to or from your Eligible Account(s) will be governed by the rules of any funds transfer system through which the transfers are made, as amended from time to time, including, without limitation, Fedwire, the National Automated Clearing House Association, and any regional association (each an “ACH”). The terms of this Agreement are in addition to, and not in place of, any other agreements you have with us regarding electronic funds transfers.
Funds Transfers. In the event funds transfer instructions are given (other than in writing at the time of execution of this Agreement), whether in writing, by telecopier or otherwise, the Depositary is authorized to seek confirmation of such instructions by telephone call back to the person or persons designated by the Escrow Agent, and the Depositary may rely upon the confirmations of anyone purporting to be the person or persons so designated. To assure accuracy of the instructions it receives, the Depositary may record such telephone call backs. If the Depositary is unable to confirm any instructions, or if not satisfied with the confirmation it receives, it will not execute the instruction until all issues have been resolved. The person and telephone numbers for call backs may be changed only in writing actually received and acknowledged by the Depositary. The Depositary shall receive notification of any errors, delays or other problems within thirty (30) days after a transaction has been executed.
Funds Transfers. If any Guarantor shall engage in any transaction as a result of which Borrower is required to make a mandatory prepayment with respect to the Guaranteed Obligations under the terms of the Credit Agreement (including any issuance or sale of such Guarantor's Stock or any sale of its assets), such Guarantor shall distribute to, or make a contribution to the capital of, one or more of the Borrower an amount equal to the mandatory prepayment required under the terms of the Credit Agreement.
Funds Transfers. Funds transfers we permit that are subject to Article 4A of the Uniform Commercial Code, such as wire transfers, will be subject to such provisions of the Uniform Commercial Code as enacted by the state where the main office of the Credit Union is located, except as otherwise provided in this Agreement. ACH transfers are subject to NACHA rules. We may execute certain requests for funds transfers by Fedwire which are subject to the Federal Reserve Board’s Regulation ▇.
Funds Transfers. (a) The Swing Line Advances and the Line of Credit Advances (collectively “Advances” and individually, an “Advance”) shall also sometimes collectively be referred to in each case as a “Loan” and collectively the “Loans”. It is anticipated that on each Business Day Borrower may wish to borrow and repay Loans under the Line of Credit. To the extent possible, these Loans will be made by the Agent under the Swing Line. To minimize the number of transfers of funds to and from the Lenders resulting from such borrowings and repayments, the Agent may fund daily Loans under the Line of Credit for the accounts of the Lenders and apply daily repayments of Loans under the Line of Credit to the accounts of the Lenders, other than according to the Lenders’ Pro Rata Percentages (i.e., without receiving from the other Lenders their Pro Rata Percentage of a Loan under the Line of Credit on the date of disbursement thereof or without paying the other Lenders their Pro Rata Percentage of a repayment of a Loan under the Line of Credit on the date of payment thereof), provided however, that no such Loan shall be made and no repayment of such a Loan shall be applied other than according to the Lenders’ Pro Rata Percentages, if: (i) at the time of such Loan or repayment the Agent has actual knowledge of a Matured Default, or (ii) after giving effect to such requested Loan or after applying the repayment, the absolute value of the amount that would have to be reallocated to make the Loans under the Line of Credit held according to the Lenders’ Pro Rata Percentages, would exceed the Swing Line Limit; or (iii) after giving effect to such requested Loan, the Agent would hold at the end of any Business Day, Loans under the Swing Line and the Line of Credit exceeding its Line of Credit Loan Commitment plus the Swing Line Limit.
(b) On any Business Day in the discretion of the Agent, if the outstanding Loans are not held, or will not be held by reason of a request for an Advance, according to the Lenders’ Pro Rata Percentages under the Line of Credit, by reason of Swing Line Advance (or a request therefore) or otherwise, the Agent shall give notice to the Lenders not later 12:00 noon (local time in Denver, Colorado) of the amount of funds to be transferred from the Agent to the Lenders, or from the Lenders to the Agent, or from one Lender to another, as the case may be (each such transfer, an “Funds Transfer”) required (giving effect to anticipated Swing Line Advances and to anticipate...
Funds Transfers. If you elect to use the Funds Transfers modules of Online Banking (including Wire Transfers (Section II D, below), ACH (Section II E, below), and Positive Pay Service (Section II F, below), you will be bound by the sections applicable to the services below.
Funds Transfers. You may perform unlimited transfers between eligible accounts. You may not make more than six (6) transfers per month from any savings or money market account. All transfers conducted prior to 10:00 PM CT will process on that business day. Balance Inquiries – You may use online banking to check balances on all deposit and loan accounts. Account Services – You may use online banking to view copies of checks and deposit account statements, place stop payments on checks, set up account alerts, and download account information to Microsoft Money, Intuit Quicken, or Intuit QuickBooks. External Transfers – External transfers allow qualified customers to electronically transfer money between eligible deposit accounts at Classic Bank and other financial institutions that are located in the United States and have a valid ABA routing number. If you use the External Transfer Service, you represent and warrant that you are the owner of the account(s) selected for the External Transfer Service and /or you have been authorized by the owner of the accounts to use this service. External Transfer Services are subject to application and approval once eligibility period has been completed. Online Statements – You may opt to receive your periodic account statement electronically. You can enroll for on-line statements by going to the Statement Tab under the Account Tab in Internet Banking. Once this option is selected, your next periodic statement notice will be sent electronically to the email address on record.
Funds Transfers. Member may desire to initiate Funds Transfers using Alloya, and ▇▇▇▇▇▇ may receive Funds Transfers for credit to an account of Member at Alloya or for further transfer to a member of Member via Payment Orders (“Payment Orders”). Outgoing Payment Orders are defined as instructions provided by Member transmitted to Alloya orally, electronically or in writing to pay or cause to be paid a fixed or determinable amount to another financial institution. Incoming Payment Orders are defined as instructions received by ▇▇▇▇▇▇ from another financial institution for deposit into a Member’s account. Therefore, the parties agree as follows:
(A) All Payment Orders shall be transmitted utilizing Security Procedures specified in this MMA which are incorporated herein by reference and, as applicable, the security procedures specified in Alloya’s other Product Agreement(s).
(B) Alloya reserves the right not to process any Payment Order for any reason or no reason including but not limited to insufficient funds, improper or insufficient information or any suspected violations of applicable regulations. ▇▇▇▇▇▇ will provide Member with timely notification of such rejected transactions.
(C) ▇▇▇▇▇▇ shall not be responsible for losses incurred by any person or institution where a receiving financial institution posts or processes a Payment Order based upon the account number rather than the name of the beneficiary or where an intermediary or beneficiary bank is identified by number, even if they differ. Should such an event occur, ▇▇▇▇▇▇ will use its best efforts to help Member recover any and all funds from said transaction.
(D) ▇▇▇▇▇▇ will make every effort to accommodate Member’s amendments or cancellations of Payment Orders if they are received by ▇▇▇▇▇▇ at a time and in a manner giving ▇▇▇▇▇▇ a reasonable opportunity to act before ▇▇▇▇▇▇ has processed a Payment Order. After ▇▇▇▇▇▇ has processed a Payment Order, no amendment or cancellation will be effective without the agreement of ▇▇▇▇▇▇.
(E) If Member provides incorrect or outdated forwarding instructions for a Payment Order, or gives no forwarding instructions, Member appoints and indemnifies Alloya or ▇▇▇▇▇▇’s processor as Member’s agent in determining the correct forwarding instructions for the Payment Order.
(F) ▇▇▇▇▇▇ shall not be liable to Member for any indirect, incidental, consequential, special or any other similar type of damage resulting from late or improper execution or failure to execute a Payment Order to th...