Bona Fide Transactions Clause Samples
The Bona Fide Transactions clause defines and requires that all transactions covered by the agreement must be genuine, conducted in good faith, and not intended to deceive or circumvent the contract’s terms. In practice, this means that parties must engage in legitimate business dealings, such as actual sales or services, rather than creating sham or artificial transactions to manipulate outcomes or obligations. The core function of this clause is to prevent fraudulent or insincere activities, thereby ensuring the integrity of the agreement and protecting both parties from bad faith conduct.
Bona Fide Transactions. ▇▇▇▇▇▇▇▇ agrees that all ▇▇▇▇▇▇.▇▇▇ Transactions that ▇▇▇▇▇▇▇▇▇.▇▇▇ requests Bank to originate are the result of bona fide business transactions between Merchant and its customers and no such entries are, directly or indirectly, for the benefit of any third party whether in a service bureau or other context. Merchant will be considered the Originator of ▇▇▇▇▇▇.▇▇▇ Transactions submitted by ▇▇▇▇▇▇▇▇▇.▇▇▇ on behalf of ▇▇▇▇▇▇▇▇.
Bona Fide Transactions. Customer shall not submit any Transaction that is not a good faith Transaction. A “good faith” Transaction means a Transaction that is (i) between the Customer and its End User, (ii) for the sale of goods and/or services (or a refund for such a sale) that are Customer’s property or that Customer has the legal right to sell, (iii) submitted on behalf of Customer (and not on behalf of any third party), and (iv) legal, authorized by the End User, non-fraudulent or otherwise damaging to the Payment Network(s), and (v) enforceable, collectible, and in full compliance with these Processing Terms, applicable law, and the Payment Network Rules.
Bona Fide Transactions. Each Eligible Account Receivable is and will continue to be the valid and enforceable obligation, not represented by any Instrument or chattel paper, of Borrower's bona fide customer having legal capacity to contract, to whom Borrower will have, bona fide in the ordinary course of Borrower's business, contracted with or rendered services to or sold outright and shipped goods which prior thereto were owned by Borrower solely and absolutely, free of all liens, pledges, security interests and other encumbrances of every nature, except any security interest held by Bank;
Bona Fide Transactions. The Finance Contracts represent undisputed, bona fide transactions being carried out in accordance with the terms and provisions contained in the Finance Contracts.
Bona Fide Transactions. All Leases of any part of the Mortgaged Property shall be an arm's length transaction, shall be subject to all other applicable provisions of the Loan Documents, and except for the Master Lease, shall be for bona fide actual occupancy.
Bona Fide Transactions. All Leases and subleases of any part of the Mortgaged Property shall be for bona fide actual occupancy, shall be an arm's length transaction, and shall be subject to all other applicable provisions of the Loan Documents.