Transit Number Clause Samples
The Transit Number clause defines the specific bank routing number used to identify a financial institution for the purpose of processing payments or transfers. In practice, this clause ensures that all parties use the correct transit number when initiating electronic funds transfers, direct deposits, or wire transfers, thereby directing funds to the intended bank branch. Its core function is to prevent misrouting of funds and ensure the accuracy and efficiency of financial transactions between parties.
Transit Number. This is a 9-digit number that identifies the financial institution where your checking account is located
Transit Number. Account No.: __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __
Transit Number. Beneficiary Bank SWIFT Code 1 NTD: Borrower to specify Designated Account information (which shall be an account with the Agent or a Lender). The undersigned certifies that the conditions precedent contained in Article 7 of the Credit Agreement to the giving of the Borrowing Notice and the making of the Advance contemplated hereby have been fulfilled. Without limiting the foregoing, the undersigned hereby confirms and certifies to the Administrative Agent and each Lender that as of the date of this Borrowing Notice, (i) all representations and warranties contained in the Credit Agreement are true and correct, (ii) no event or condition has occurred and is continuing or would result from such Advance or giving effect to this Borrowing Notice, which constitutes a Default or Event of Default, (iii) such Advance, or otherwise giving effect to this Borrowing Notice, will not violate any applicable order, judgment or decree of any court, arbitrator or Governmental Authority or any Applicable Law now in effect, and (iv) since the date of the Financial Statements for the immediately prior Fiscal Year, no circumstance exists and no event has occurred that has or could be expected to result in a Material Adverse Effect. The undersigned further confirms and certifies to the Administrative Agent and each Lender that the proceeds of the proposed Advance (if any) will be used solely for the purposes specified and permitted by Section 2.3 of the Credit Agreement. Name: Title: Name: Title: [Date] Royal Bank of Canada ▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ M5V 3K7 Attention: Manager, Agency Services Group E-mail: ▇▇▇▇▇▇▇▇@▇▇▇▇▇.▇▇▇ Dear Sirs & Mesdames: This undersigned, Trans-Northern Pipelines Inc. (the “Borrower”), refers to the Credit Agreement dated as of August 12, 2022 (as the same may be amended, restated, amended and restated, replaced, supplemented or otherwise modified from time to time, the “Credit Agreement”), the terms defined therein being used herein as therein defined, among the Borrower, Royal Bank of Canada, as Administrative Agent, and financial institutions party thereto as Lenders. This certificate is delivered pursuant to Section 9.3(c) of the Credit Agreement. The undersigned certifies on behalf of the Borrower that: