Bank Obligations. The Bank agrees to make the Revolving Loan on the Disbursement Date as set forth in a notice to the Bank from the Borrower conforming to the requirements of Section 2.2.1 by crediting the Borrower's general deposit account with the Bank in the amount of such Revolving Loan, provided, however, that the Bank shall not be so obligated if:
Bank Obligations. Certificates of deposit (and time deposits represented by such certificates of deposit) of, bankers’ acceptances issued by, or federal funds sold by any depository institution or trust company (including the Titling Trustee or any Affiliate thereof) incorporated under the laws of the United States or any state and subject to supervision and examination by federal and/or state banking authorities, so long as at the time of such investment or contractual commitment providing for such investment either the short-term, unsecured debt obligations of such depository institution or trust company have the highest available credit ratings from any two national rating agencies or the Titling Trustee shall have received a letter from any such rating agencies that then rate any Trust-Related Obligation to the effect that such investment would not result in the qualification, downgrading or withdrawal of any rating then assigned to such Trust-Related Obligation.
Bank Obligations. Bank shall not be obligated to comply with any Pay Request or Return Request received in a format or medium, after a deadline, or at a place not permitted under this Agreement but may instead treat such a Pay Request or Return Request as though it had not been received. Bank is not responsible for detecting any Company error contained in any Check Issue Report or Pay Request or Return Request sent by Company to Bank.
Bank Obligations. Bank shall have no responsibility for any liability, loss or damage resulting from: (i) payment of any Exception Entry that is unauthorized; (ii) the return of any Exception Entry to the Originator in accordance with this section; or (iii) Company’s failure to meet Bank’s established deadlines. Bank’s failure to report a discrepancy will not discharge Company’s obligation with regard to any Entry, and shall not obligate Bank to return any Entry if it is otherwise authorized. Bank shall not be obligated to comply with any Pay Request or Return Request received in a format or medium, after a deadline, or at a place not permitted under this Agreement but may instead treat such a Pay Request or Return Request as though it had not been received. Bank is not responsible for detecting any Company error contained in any Pay Request or Return Request sent by Company to Bank.
Bank Obligations. 5.1 The Bank shall or shall procure that another member of the Bank Group shall, subject to these terms and conditions:
Bank Obligations. The Fund may buy time deposits, certificates of deposit and bankers' acceptances. Time deposits, other than overnight deposits, may be subject to withdrawal penalties and, if so, they are deemed to be "illiquid" investments. The Fund can purchase bank obligations that are fully insured by the Federal Deposit Insurance Corporation. The FDIC insures the deposits of member banks up to $100,000 per account. Insured bank obligations may have a limited market and a particular investment of this type may be deemed "illiquid" unless the Board of Directors of the Fund determines that a readily-available market exists for that particular obligation, or unless the obligation is payable at principal amount plus accrued interest on demand or within seven days after demand.
Bank Obligations. In a timely manner and in accordance with the Rules, the Bank will process, transmit, and settle for the entries received from the Company which comply with the terms of the Agreement, including but not limited to the security procedures described in attachment 1 to the Agreement.
Bank Obligations. Subject to Section 7 of this Agreement, the Bank shall, in accordance with the Rules, process, transmit and settle for any Entry. The Bank shall have no obligation to transmit an Entry if the Company fails to comply with the Rules or any terms of this Agreement. The Bank shall rely on any and all information it receives from an Authorized Representative of the Company, as set forth in Attachment 2, and any person the Bank, in good faith, reasonably believes to be acting on behalf of the Company, whether or not such person was authorized by the Company.
Bank Obligations. Subject to the terms and conditions of this Agreement, Bank shall perform the following tasks, and such other tasks as Bank and EFS shall mutually agree:
Bank Obligations. The Fund may purchase certificates of deposit, time deposits, bankers’ acceptances and other short-term obligations issued by domestic banks, foreign subsidiaries or foreign branches of domestic banks, domestic and foreign branches of foreign banks, domestic savings and loan associations and other banking institutions. With respect to such securities issued by foreign subsidiaries or foreign branches of domestic banks, and domestic and foreign branches of foreign banks, the Fund may be subject to additional investment risks. Certificates of deposit are negotiable certificates evidencing the obligation of a bank to repay funds deposited with it for a specified period of time. Time deposits are non-negotiable deposits maintained in a banking institution for a specified period of time (in no event longer than seven days) at a stated interest rate. Bankers’ acceptances are credit instruments evidencing the obligation of a bank to pay a draft drawn on it by a customer. These instruments reflect the obligation both of the bank and the drawer to pay the face amount of the instrument upon maturity. The other short-term obligations may include uninsured, direct obligations bearing fixed, floating or variable interest rates.
