Bank mandates Clause Samples
A bank mandates clause defines the authority and instructions given by a company or individual to a bank regarding the operation of their accounts. Typically, this clause specifies who is authorized to give instructions to the bank, such as signing cheques, authorizing payments, or accessing account information. For example, it may require that two directors must jointly sign for withdrawals above a certain amount. The core function of this clause is to ensure that the bank only acts on valid instructions, thereby reducing the risk of unauthorized transactions and providing clarity on account management responsibilities.
POPULAR SAMPLE Copied 9 times
Bank mandates. Revoke all existing mandates for the operation of the bank accounts of the Company and authorising the directors and/or the secretary to issue new mandates giving authority to those persons nominated by the Purchaser.
Bank mandates all existing bank mandates in force for the Company be altered (in such manner as the Buyer requires at Completion) to reflect the resignations and appointments referred to in paragraph 2.1; and
Bank mandates. Exhibit 9.3 sets forth a true and complete list of the names of all persons authorised to make financial transactions from the bank accounts of the Group Companies.
Bank mandates. Prior to termination of this Agreement becoming effective pursuant to this clause 23 (Termination), the Administrator, the Seller, the Issuer and any Successor Administrator or Back-up Administrator shall each co-operate to obtain the agreement of the Borrowers to a new bank mandates permitting the Issuer or the Successor Administrator to operate the Direct Debiting Scheme with respect to the Mortgage Loans in the Mortgage Portfolio.
Bank mandates copies of all bank mandates of the Company together with appropriate forms to amend the mandate in respect of each bank account maintained by the Company;
Bank mandates. [*], Seller shall deliver to Purchaser copies of all existing bank mandates and statements of the balances of any bank accounts in the name of the Company and each member of the Company Group [*];
Bank mandates. The Seller must deliver to Buyer copies of all bank mandates of the Company together with copies of bank statements in relation to all bank accounts as at a date not earlier than the day immediately preceding the Closing and all cheque books of the Company in use and the cash book balances of the Company as at Closing with reconciliation statements reconciling such balances with the aforementioned bank statements.
Bank mandates copies of all bank mandates of the Company and each of the Subsidiaries together with appropriate forms to amend the mandate in respect of each bank account maintained by the Company and each of the Subsidiaries;