Transactional Relationships Sample Clauses
The 'Transactional Relationships' clause defines the nature and boundaries of the interactions between the parties involved in a contract, specifying that their relationship is limited to the specific transaction at hand. In practice, this clause clarifies that neither party is considered an agent, partner, or joint venturer of the other, and that their obligations are strictly confined to the terms of the agreement. By doing so, it prevents misunderstandings or legal assumptions about broader business relationships, ensuring that liability and authority are clearly allocated and limited to the transaction itself.
Transactional Relationships. 5.11.1. Maintenance of an Account at the MPF Provider. The Pittsburgh Bank will establish and maintain the Clearing Account with the MPF Provider.
5.11.2. Funding of Pittsburgh Bank’s Share of Expenses. The Pittsburgh Bank will fund the Clearing Account sufficiently from time to time upon demand of the MPF Provider. The Pittsburgh Bank hereby consents to the MPF Provider withdrawing funds from such account from time to time to satisfy the Pittsburgh Bank’s obligations to pay its obligations under this Agreement (whether or not the particular provision of this Agreement makes reference to such right of the MPF Provider to effect such satisfaction by withdrawal from the Pittsburgh Bank’s Clearing Account, and whether or not any such withdrawal shall cause the balance in the Pittsburgh Bank’s Clearing Account to become negative).
Transactional Relationships. 5.12.1. Maintenance of Accounts at the MPF Provider. The Boston Bank will establish and maintain the Clearing Account with the MPF Provider.
Transactional Relationships