Fraudulent Instruction definition

Fraudulent Instruction means an intentional, fraudulent and unauthorized instruction directed to the Insured or an Investment Adviser, that is:
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Fraudulent Instruction means any fraudulent or unauthorized written, electronic, telegraphic, cable, teletype or telephone instruction that is intended to mislead Purchaser or any other third party through the misrepresentation of a material fact related to the Products purchased or Seller. If Purchaser receives a request to modify / change any agreed upon / utilized payment process (e.g., accounts/wire instructions, updates to lock box) for its account with Seller, Purchaser must promptly direct such request to Seller and verbally receive a confirmed receipt from Seller of a test wire or payment of $1.00, prior to Purchaser accepting any changes to the payment process.
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Fraudulent Instruction means a written, electronic or oral instruction communicated directly to an employee of the Insured by a third party under False Pretenses. Provided, however, this exclusion shall not apply to Securities Claims.
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Examples of Fraudulent Instruction in a sentence

  • Except in the event of gross negligence on their part, the Company, the Manager and/or the Administrator shall not be liable for any damage, loss, expense or liability of any nature which the applicant(s) may suffer due to the reliance by the Company, the Manager and/or the Administrator on a Fraudulent Instruction which the Company, the Manager and/or Administrator believe in good faith to be genuine and to have been given or signed by the applicant(s).

  • Such Fraudulent Instruction received and, if applicable, Callback Verification performed, must be either recorded, logged, or documented by the Insured or an Investment Adviser.

  • This bond does not cover any loss resulting directly or indirectly from a Fraudulent Instruction except when covered under Insuring Agreement I.2. EE.

  • Fraudulent Instruction does not include any instruction that purports to be from a Customer unless the instruction is transmitted by a method that is authorized in the Funds Transfer Agreement between the Insured and the Customer.

  • Except in the event of gross negligence on their part, the Company and/or the Administrator shall not be liable for any damage, loss, expense or liability of any nature which the applicant(s) may suffer due to the reliance by the Company and/or the Administrator on a Fraudulent Instruction which the Company and/or Administrator believe in good faith to be genuine and to have been given or signed by the applicant(s).

  • The Insurer will pay the Insured for direct loss of Money or Securities resulting from a Fraudulent Instruction directing a financial institution to transfer, pay or deliver Money or Securities from the Insured Transfer Account.

  • Except in the event of negligence on their part, the ICAV and/or the Administrator shall not be liable for any damage, loss, expense or liability of any nature which the applicant(s) may suffer due to the reliance by the ICAV and/or the Administrator on a Fraudulent Instruction which the ICAV and/or Administrator believe in good faith to be genuine and to have been given or signed by the applicant(s).

  • Loss resulting from a Fraudulent Instruction directing a financial institution to transfer, pay or deliverMoney or Securities from the Insured’s Transfer Account.

  • Loss resulting directly from the Insured having, in good faith, transferred funds on deposit in a Customer’s account as a result of a Fraudulent Instruction when the Insured, prior to transferring the funds, used its reasonable best efforts to verify the identity of the person transmitting the instruction; provided that if the instruction is purported to be from a Customer, the Insured performed an Out-of- Band Verification and followed a Security Procedure with respect to such instruction.

  • With respect to Commercial Customers, coverage only applies if the transmittal method by which the Insured received the Fraudulent Instruction was a transmittal method authorized by the Commercial Customer in the Funds Transfer Agreement.


More Definitions of Fraudulent Instruction

Fraudulent Instruction means an intentional, fraudulent, and unauthorized instruction directed to the Insured, that is transmitted:
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Fraudulent Instruction means the transfer, payment or delivery of Money or Securities by an Insured as a result of fraudulent written, electronic, telegraphic, cable, teletype or telephone instructions provided by a third party, that is intended to mislead an Insured through the misrepresentation of a material fact which is relied upon in good faith by such Insured.Fraudulent Instruction will not include loss arising out of:
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Related to Fraudulent Instruction

  • Fraudulent Transfer Laws has the meaning set forth in Section 2.2.

  • fraudulent practice means a misrepresentation of facts in order to influence a procurement process or the execution of a contract to the detriment of the Procuring Entity, and includes collusive practices among Bidders (prior to or after bid submission) designed to establish bid prices at artificial, non-competitive levels and to deprive the Procuring Entity of the benefits of free and open competition.

  • Fraudulent Conveyance means a fraudulent conveyance under Section 548 of Chapter 11 of Title II of the Bankruptcy Code or a fraudulent conveyance or fraudulent transfer under the applicable provisions of any fraudulent conveyance or fraudulent transfer law or similar law of any state, nation or other governmental unit, as in effect from time to time.

  • fraudulent practices which means any act or omission, including a misrepresentation, that knowingly or recklessly misleads, or attempts to mislead, a party to obtain a financial or other benefit or to avoid an obligation; and

  • Corrupt and Fraudulent Practices means either one or any combination of the practices given below;

  • Dishonest or Fraudulent Act means any dishonest or fraudulent act, including “larceny and embezzlement” as defined in Section 37 of the Investment Company Act of 1940, committed with the conscious manifest intent (1) to cause the Insured to sustain a loss and (2) to obtain financial benefit for the perpetrator or any other person (other than salaries, commissions, fees, bonuses, awards, profit sharing, pensions or other employee benefits). A Dishonest or Fraudulent Act does not mean or include a reckless act, a negligent act, or a grossly negligent act.

  • fradulent practice means a misrepresentation or omission of facts in order to influence a procurement process or the execution of contract;

  • Payment Instruction is as defined in Section 36 of the General Terms, and is further defined as the information provided by you to the Service for a bill payment to be made to the Xxxxxx (such as, but not limited to, Xxxxxx name, Xxxxxx account number, and Scheduled Payment Date).

  • Securities Transfer Act means the Securities Transfer Act (British Columbia) from time to time in force and all amendments thereto and includes all regulations and amendments thereto made pursuant to that Act.

  • Payment Instructions has the meaning set forth in Section 5.2(a) of the Loan Agreement.

  • Repudiation/Moratorium means the occurrence of both of the following events: (i) an authorised officer of a Reference Entity or a Governmental Authority (x) disaffirms, disclaims, repudiates or rejects, in whole or in part, or challenges the validity of, one or more Obligations in an aggregate amount of not less than the Default Requirement or (y) declares or imposes a moratorium, standstill, roll-over or deferral, whether de facto or de jure, with respect to one or more Obligations in an aggregate amount of not less than the Default Requirement and (ii) a Failure to Pay, determined without regard to the Payment Requirement, or a Restructuring, determined without regard to the Default Requirement, with respect to any such Obligation occurs on or prior to the Repudiation/Moratorium Evaluation Date.

  • Repudiation/Moratorium means the occurrence of both of the following events:

  • Violent felony means any offense that, if committed by an adult, would constitute a felony and:

  • Payment instrument means any personalised device(s) and/or set of procedures agreed between the payment service user and the payment service provider and used in order to initiate a payment order;

  • Violent juvenile felony means any of the delinquent acts enumerated in subsection B or C of

  • Consumer Guarantee means a consumer guarantee applicable to this contract under the Australian Consumer Law, including any Express Warranty.

  • CER Act means the Canadian Energy Regulator Act (Canada), and regulations thereunder, all as amended or replaced from time to time.

  • former Act means the Companies Act or the International Business Companies Act;

  • Voice Initiated Funds Transfer Instruction means any Voice Initiated Redemption or Voice Initiated Election.For the purposes of these definitions, the singular includes the plural and the plural includes the singular, unless otherwise indicated. General Exclusions - Applicable to All Insuring Clauses2. This bond does not directly or indirectly cover:a. loss not reported to the COMPANY in writing within sixty (60) days after termination of this Bond as an entirety;b. loss due to riot or civil commotion outside the United States of America and Canada, or any loss due to military, naval or usurped power, war or insurrection. This Section 2.b., however, shall not apply to loss which occurs in transit in the circumstances recited in INSURING CLAUSE 3., provided that when such transit was initiated there was no knowledge on the part of any person acting for the ASSURED of such riot, civil commotion, military, naval or usurped power, war or insurrection;c. loss resulting from the effects of nuclear fission or fusion or radioactivity;d. loss of potential income including, but not limited to, interest and dividends not realized by the ASSURED or by any customer of the ASSURED;e. damages of any type for which the ASSURED is legally liable, except compensatory damages, but not multiples thereof, arising from a loss covered under this Bond;f. costs, fees and expenses incurred by the ASSURED in establishing the existence of or amount of loss under this Bond, except to the extent covered under INSURING CLAUSE 11.;g. loss resulting from indirect or consequential loss of any nature; General Exclusions - Applicable to All Insuring Clauses(continued)h. loss resulting from dishonest acts by any member of the Board of Directors or Board of Trustees of the ASSURED who is not an Employee, acting alone or in collusion with others;

  • Violent crime means a forcible felony, as defined in Iowa Code section 702.11, and includes any other felony or aggravated misdemeanor which involved the actual or threatened infliction of physical or emotional injury on one or more persons.

  • Disbursement Instruction Agreement means an agreement substantially in the form of Exhibit B to be executed and delivered by the Borrower pursuant to Section 6.1.(a), as the same may be amended, restated or modified from time to time with the prior written approval of the Administrative Agent.

  • Gift instrument means a record or records, including an institutional solicitation, under which property is granted to, transferred to, or held by an institution as an institutional fund.

  • Margin of purchase preference means the maximum extent to which the price quoted by a local supplier may be above the L1 for the purpose of purchase preference.

  • Indirect instruction means any general or specific instruction given in any form by the person required to provide the notification or any person controlled by that person within the meaning of Article L. 233-3 of the Commercial Code that limits the discretion of the management company or the investment service provider in the exercise of the voting rights in order to serve the commercial interests of the person required to provide the notification or the controlled person.

  • Fraud means any offence under Laws creating offences in respect of fraudulent acts or at common law in respect of fraudulent acts in relation to the Contract or defrauding or attempting to defraud or conspiring to defraud the Crown.

  • Dispatch Instruction has the meaning set forth in the CAISO Tariff.