Common use of Transfer Services Clause in Contracts

Transfer Services. The Company authorizes and directs the Bank, upon an Authorized Person’s request, as communicated in writing or through the Product, and received by the Bank, to transfer Funds into any other Company Account or third-party account at the Bank. The Bank shall not be obligated at any time to transfer from any Account any amount more than the collected balance on deposit in such account at the time of the request or time of transfer. The Bank shall have the right, but shall not be obligated, to refuse any transfer hereunder for purposes of determining whether the Company has authorized the transfer and shall incur no liability for any such delay. This statement is specifically for use in performing a transfer of funds from account to account at the Bank and is not intended for wire transfer transactions. Transfer requests received after 7:00 p.m. Eastern Time will be processed on the next Business Day.

Transfer Services. The Company authorizes and directs the Bank, upon an Authorized Person’s request, as communicated in writing or through the Product, and received by the Bank, to transfer Funds into any other Company Account or third-party account at the Bank. The Bank shall not be obligated at any time to transfer from any Account any amount more than the collected available balance on deposit in such account at the time of the request or time of transfer. The Bank shall have the right, but shall not be obligated, to refuse any transfer hereunder for purposes of determining whether the Company has authorized the transfer and shall incur no liability for any such delay. This statement is specifically for use in performing a transfer of funds from account to account at the Bank and is not intended for wire transfer transactions. Transfer requests received after 7:00 p.m. Eastern Time will be processed on the next Business Day.