EFT Facility definition

EFT Facility means the electronic funds transfer facility in the maximum principal amount of Cdn. $2,000,000.00 per day, to be made available to the Borrower by the Lender in accordance with the provisions hereof, subject to any reduction in accordance with the provisions hereof, and to be governed by the terms of the Lender’s Electronic Funds Transfer (EFT) Application Form.
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EFT Facility means the Electronic Funds Transfer Facility through the RBI EFT System
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EFT Facility means the Electronic Funds Transfer Facility through the RBI EFT Systems. (b) "Security Procedure" means a procedure established by agreement between the bank and the customer for the purpose of verifying that the payment order or communication amending or cancelling a payment order transmitted electronically is that of the customer or for detecting error in the transmission for the content of the payment order or communication. A security procedure may require the use of algorithms or other codes,
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Examples of EFT Facility in a sentence

  • Subject to the terms and conditions hereof, the Lender shall make available to the Borrower the EFT Facility.

  • The Outstanding Principal under the EFT Facility shall not exceed the EFT Facility Commitment.

  • The EFT Facility, MC Facility, F/X Facility and DSL Facility shall be available to the Borrower after the completion and registration, if applicable, of the Documents and the satisfaction of the Conditions Precedent to Drawdown as set out in Article 3 hereof.

  • You can use your Debit Mastercard® card or ATM Card plus your Personal Identification Number (PIN) at any EFT Facility (i.e., Automated Teller Machine, Point-of-Sale terminal or other electronic facility) that accepts the Card to perform transactions as outlined in our Electronic Banking Services Information Statement accompanying your Card.

  • The EFT Facility is being made available to assist the Borrower with the payment of payroll and other payables.


More Definitions of EFT Facility

EFT Facility means the Reserve Bank of Australia real time gross settlement facility or, where such a facility is not available, an electronic funds transfer facility to be arranged by AEMO.
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