Cancellation or Amendment of Payment Order Sample Clauses

Cancellation or Amendment of Payment Order. You acknowledge that we may cancel or reject any Payment Order that does not comply with the Terms and Conditions or with the parameters set by us from time to time for Payment Orders. We may reject any Payment Order without liability, including a “Value-Dated” Payment Order, if you fail to maintain sufficient Available Funds in a designated account or sufficient available funds in a credit line. A Payment Order may be canceled or amended only if we have not transmitted the Payment Order or credited the Beneficiary’s account. To be effective, the request for canceling or amending the Payment Order must (i) comply with security procedures and other terms and conditions as we set; and (ii) be received by us at a time and in a manner that gives us a reasonable opportunity to act on the communication. We will have no liability if cancellation or amendment is not effected.
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Cancellation or Amendment of Payment Order. You may cancel or amend a payment order you give us only if we receive the communication of cancellation or amendment before our cutoff time and in time to have a reasonable opportunity to act on it before we accept the payment order. The communication of cancellation or amendment must be presented in conformity with the same security procedure that has been agreed to for payment orders.
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Cancellation or Amendment of Payment Order. You understand that, unlike checks, once a Payment Order is executed by Bank, the Payment Order is complete and in most instances is irrevocable, even if the Payment Order has not yet been received by the beneficiary. You shall have no right to cancel or amend any Payment Order after it has been executed. Bank, in the Bank’s sole discretion, may use reasonable efforts to act on a request by you to cancel or amend a Payment Order, or may attempt to process a late or nonconforming Payment Order, and if Bank attempts to do so, you agree to indemnify, defend and hold Bank and its agents harmless from all actions, proceedings, losses and claims which may arise, directly or indirectly, from Bank’s actions in response to your request and you agree to reimburse Bank for all costs, losses and damages Bank incurs as a result. Bank assumes no responsibility for the Bank’s failure or refusal to take such action, even if the Bank accepts the instruction to amend or cancel. If you revoke, cancel or amend any previously issued Payment Order, the Bank shall not be obligated to refund any monies to you until acceptable evidence has been received by the Bank that the transaction has been satisfactorily terminated or amended as to all parties, including the replacement of all funds, which were transferred by the Bank to effect the Payment Order. Any refund shall be less all charges and expenses incurred by the Bank and the Bank’s agents in connection with the Payment Order, whether such revocation, cancellation, or amendment was successful.
Sample 1
Cancellation or Amendment of Payment Order. If Customer wishes to cancel or amend a payment order, written notice of such cancellation or amendment in form and content acceptable to Bank must be received by Bank on the Banking Day immediately preceding the date when Bank is to execute the payment order and before any deadline applicable pursuant to Section D-9 above. If notice of cancellation or amendment is received after such deadline, Bank will have no obligation to accept or execute the notice. Bank will have no obligation to accept or execute a notice of cancellation or amendment of a payment order which has already been executed. Bank may condition acceptance or execution of a notice of cancellation or amendment by requiring any one or all of the following: (a) adequate information reasonably identifying the payment order; (b) an indemnity agreement and bond in form and amount acceptable to Bank holding Bank harmless from any and all liability arising from Bank’s execution of the notice of cancellation or amendment; (c) sufficient notice to provide Bank with a reasonable opportunity to act; and (d) compliance with any applicable security procedure. Bank will not be liable for failure or inability to effectuate a notice of cancellation or amendment, and Customer shall continue to be obligated to pay Bank for the amount of the payment order.
Sample 1
Cancellation or Amendment of Payment Order. A Payment Order may be canceled or amended only if we have not transmitted the Payment Order or credited the Beneficiary’s account. To be effective, the communication canceling or amending the Payment Order must (i) comply with the agreed upon security procedures and with such other terms and conditions as we set; and (ii) be received by us at a time and in a manner that gives us a reasonable opportunity to act on the communication. We will have no liability if cancellation or amendment is not effected.
Sample 1
Cancellation or Amendment of Payment Order. The Customer has no right to cancel or amend any Payment Order after it has been received by the Bank. However, to the extent permitted by Applicable Laws, the Bank will use its reasonable efforts to act on the Customer’s request to cancel any such Payment Order before the Bank processes it, but the Bank will have no liability if such cancellation is not affected.
Sample 1
Cancellation or Amendment of Payment Order a. Client shall have no right and Bank shall have no obligation to cancel or amend any Payment Order after receipt of such Payment Order by Bank. Bank may, in its sole discretion, make a reasonable effort to comply with a request to cancel or amend a Payment Order if Bank has a reasonable opportunity to act on such request and such request is in compliance with the Security Procedures provided in this Agreement. Bank shall have no liability if a request to cancel or amend a Payment Order is not effected. Client agrees to indemnify and hold Bank harmless from any and all liability, claims, costs, expenses and damages of any nature, including attorney’s fees, incurred in connection with any request by Client or an Authorized Representative to cancel or amend a Payment Order. b. Client’s obligations under this Section 8 (Cancellation or Amendment of Payment Order) shall survive the termination of this Agreement.
Sample 1
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Related to Cancellation or Amendment of Payment Order

  • Cancellation of Payment Orders The Company may cancel a payment order but the Custodian shall have no liability for the Custodian's failure to act on a cancellation instruction unless the Custodian has received such cancellation instruction at a time and in a manner affording the Custodian reasonable opportunity to act prior to the Custodian's execution of the order. Any cancellation shall be sent and confirmed in the manner set forth in Paragraph 2 above.

  • CANCELLATION OR AMENDMENT State Street shall use reasonable efforts to act on all authorized requests to cancel or amend payment orders received in compliance with the Security Procedure provided that such requests are received in a timely manner affording State Street reasonable opportunity to act. However, State Street assumes no liability if the request for amendment or cancellation cannot be satisfied.

  • Cancellation Amendment The Transfer Agent shall use reasonable efforts to act on all authorized requests to cancel or amend payment orders received in compliance with the Security Procedure provided that such requests are received in a timely manner affording the Transfer Agent reasonable opportunity to act. However, the Transfer Agent assumes no liability if the request for amendment or cancellation cannot be satisfied.

  • No Oral Modification, Cancellation or Discharge This Agreement may be changed or terminated only in writing (signed by Executive and the Company).

  • Confirmation of Payment The Administrative Agent and the Lenders will, upon request after payment of the Credit Party Obligations which are the subject of this Guaranty and termination of the Commitments relating thereto, confirm to the Borrower, the Guarantors or any other Person that such indebtedness and obligations have been paid and the Commitments relating thereto terminated, subject to the provisions of Section 10.2.

  • CANCELLATION OF CONTRACT The Division of Procurement Services reserves the right to cancel a contract with a thirty-day written notice OR cancel immediately if the contractor does not conform to terms and conditions and specifications of contract.

  • Cancellation of Notes Any Person that receives a Note surrendered for payment, registration of transfer, exchange or redemption will deliver the Note to the Indenture Trustee and the Indenture Trustee will promptly cancel it. The Issuer may surrender to the Indenture Trustee for cancellation Notes previously authenticated and delivered under this Indenture which the Issuer may have acquired, and the Indenture Trustee will promptly cancel them. No Notes will be authenticated in place of or in exchange for Notes cancelled as stated in this Section 2.10. The Indenture Trustee may hold or dispose of cancelled Notes according to its standard retention or disposal policy unless the Issuer directs, by Issuer Order, that they be destroyed or returned to it.

  • Authorization of Receipt of Funds by the Trustee Under the Security Documents Subject to the provisions of the Intercreditor Agreement, the Trustee is authorized to receive any funds for the benefit of the Holders distributed under the Security Documents, and to make further distributions of such funds to the Holders according to the provisions of this Indenture.

  • No Acceleration of Payments Neither the Company nor the Executive, individually or in combination, may accelerate any payment or benefit that is subject to Section 409A, except in compliance with Section 409A and the provisions of this Agreement, and no amount that is subject to Section 409A shall be paid prior to the earliest date on which it may be paid without violating Section 409A.

  • Termination or Amendment The Committee may terminate or amend the Plan or this Agreement at any time; provided, however, that no such termination or amendment may adversely affect the Participant’s rights under this Agreement without the consent of the Participant unless such termination or amendment is necessary to comply with applicable law or government regulation. No amendment or addition to this Agreement shall be effective unless in writing.

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