INTERMEDIARY BANK Sample Clauses

INTERMEDIARY BANK. To the extent necessary or appropriate the Bank shall send Payment Orders through a Correspondent(s). In executing any Payment Order, the Bank shall use whatever funds transfer system, and communications system designated by Customer, except where the Bank concludes in good faith that the use of such systems is not feasible or would involve undue delay or risk. In those circumstances, the Bank may use the funds transfer systems and communications systems in which the Bank participates. The Bank may, in its sole discretion, establish designated intermediary banks, agents or subagents as it deems necessary or appropriate in connection with a Payment Order. To the fullest extent permitted by law, (i) any such funds transfer system, communications system or intermediary banks, agents or sub-agents shall be deemed to be the agent of Customer, and the Bank shall not have any liability for any errors, negligence, suspension or default of any of them or for any failure to identify the beneficiary or any misplaced payment by any of them, and (ii) the Bank shall not be liable for any errors, mutilations, delays, improper delivery or failure of delivery in the transmission of any Payment Order in connection with such transaction or for any suspension of any means of transmission of any Payment Order in connection with such transaction or for any suspension of any means of transmission or for any censorship, exchange control or other restriction, with all such risk being borne by Customer. Customer acknowledges:
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Related to INTERMEDIARY BANK

  • INTERMEDIARY Xxx Xxxxxxxxx & Company, LLC, is hereby recognized as the Intermediary negotiating this Contract for all business hereunder. All communications (including notices, statements, premiums, return premiums, commissions, taxes, losses, Loss Adjustment Expenses, salvages, and loss settlements) relating thereto shall be transmitted to the Company or the Reinsurer through the Intermediary. Payments by the Company to the Intermediary shall be deemed payment to the Reinsurer. Payments by the Reinsurer to the Intermediary shall be deemed payment to the Company only to the extent that such payments are actually received by the Company.

  • Securities Intermediary The Securities Intermediary, in acting under this Indenture, is entitled to all rights, benefits, protections, immunities and indemnities accorded to U.S. Bank Trust Company, National Association, in its capacity as Indenture Trustee under this Indenture.

  • Depository Banks The Borrowers and their Subsidiaries will maintain the Administrative Agent as its principal depository bank, including for the maintenance of operating, administrative, cash management, collection activity, and other deposit accounts for the conduct of its business.

  • Financial Institution The Financial Institution will not be liable under this Agreement, except for (i) its own willful misconduct, bad faith or negligence or (ii) breach of its representations and warranties in this Agreement. The Financial Institution will not be liable for special, indirect or consequential losses or damages (including lost profit), even if the Financial Institution has been advised of the likelihood of the loss or damage and regardless of the form of action.

  • Bank The Buyer (a) is a national bank or banking institution organized under the laws of any State, territory or the District of Columbia, the business of which is substantially confined to banking and is supervised by the State or territorial banking commission or similar official or is a foreign bank or equivalent institution, and (b) has an audited net worth of at least $25,000,000 as demonstrated in its latest annual financial statements, a copy of which is attached hereto.

  • AS AGENT FOR BOTH - INTERMEDIARY To act as an intermediary between the parties the broker must first obtain the written agreement of each party to the transaction. The written agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker's obligations as an intermediary. A broker who acts as an intermediary: • Must treat all parties to the transaction impartially and fairly; • May, with the parties' written consent, appoint a different license holder associated with the broker to each party (owner and buyer) to communicate with, provide opinions and advice to, and carry out the instructions of each party to the transaction. • Must not, unless specifically authorized in writing to do so by the party, disclose: ᴑ that the owner will accept a price less than the written asking price; ᴑ that the buyer/tenant will pay a price greater than the price submitted in a written offer; and ᴑ any confidential information or any other information that a party specifically instructs the broker in writing not to disclose, unless required to do so by law.

  • Deposit Accounts, Securities Accounts and Commodity Accounts Attached hereto as Schedule 14 is a true and complete list of all Deposit Accounts, Securities Accounts and Commodity Accounts maintained by each Company, including the name of each institution where each such account is held, the name of each such account and the name of each entity that holds each account.

  • EEA Financial Institution No Loan Party is an EEA Financial Institution.

  • EEA Financial Institutions No Loan Party is an EEA Financial Institution.

  • Blocked Accounts Agent shall have received duly executed agreements establishing the Blocked Accounts or Depository Accounts with financial institutions acceptable to Agent for the collection or servicing of the Receivables and proceeds of the Collateral;

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