Common use of Compliance with Security Procedures Clause in Contracts

Compliance with Security Procedures. 67.1 If an Entry (or a request for cancellation or amendment of an Entry) received by Bank was transferred in accordance with the Security Procedures applicable to the Service and thereby purports to have been transmitted or authorized by Customer, it shall be deemed effective as Customer’s Entry (or request), even if the Entry (or request) was not authorized by Customer. If Bank accepted the Entry (a) in compliance with the Security Procedures with respect to such Entry, (b) in compliance with any written agreement or instruction of Customer restricting acceptance of payment orders issued in Customer’s name, and (c) in good faith, then with respect to a credit Entry, Customer shall be obligated to pay Bank the amount of such Entry, and with respect to a debit Entry, Customer shall maintain sufficient funds in the Settlement Account, as defined in Section 73, to fund the reversal of such Entry, if necessary. 67.2 If an Entry (or a request for cancellation or amendment of an Entry) received by Bank was actually transmitted or authorized by Customer, Customer shall pay Bank the amount of any such credit Entry and shall maintain funds in the Customer’s Settlement Account to fund the reversal of any such debit Entry, whether or not Bank complied with the Security Procedures described herein or in the Part Iand whether or not that Entry was erroneous in any respect or that any such error would have been detected if Bank had complied with the Security Procedures.

Compliance with Security Procedures. 67.1 If an Entry (or a request for cancellation or amendment of an Entry) received by Bank was transferred initiated in accordance with the Security Procedures applicable to the ACH Service and thereby purports to have been transmitted or authorized by Customer, it shall be deemed effective as Customer’s Entry (or request), even if the Entry (or request) was not authorized by Customer. If Bank accepted the Entry (a) in compliance with the Security Procedures with respect to such Entry, (b) in compliance with any written agreement or instruction of Customer restricting acceptance of payment orders issued in Customer’s name, and (c) in good faith, then with respect to a credit Entry, Customer shall be obligated to pay Bank the amount of such Entry, and with respect to a debit Entry, Customer shall maintain sufficient funds Available Funds in the Settlement Account, as defined in Section 73, to fund the reversal of such Entry, if necessary. 67.2 If an Entry (or a request for cancellation or amendment of an Entry) received by Bank was actually transmitted or authorized by Customer, Customer shall pay Bank the amount of any such credit Entry and shall maintain funds Available Funds in the Customer’s Settlement Account to fund the reversal of any such debit Entry, whether or not Bank complied with the Security Procedures described herein or in the Part Iand and whether or not that Entry was erroneous in any respect or that any such error would have been detected if Bank had complied with the Security Procedures.

Compliance with Security Procedures. 67.1 8.1 If an Entry (or a request for cancellation or amendment of an Entry) received by Bank us was transferred in accordance with the Security Procedures applicable to security procedures described in Schedule A of the Service Premier Business Connect Access and User Agreement and thereby purports to have been transmitted or authorized by Customeryou, it shall be deemed effective as Customer’s your Entry (or request), even if the Entry (or request) was not authorized by Customeryou. If Bank we accepted the Entry (a) in compliance with the Security Procedures security procedures referred to herein with respect to such Entry, (b) in compliance with any your written agreement or instruction of Customer restricting acceptance of payment orders issued in Customer’s your name, and (c) in good faith, then with respect to a credit Entry, Customer you shall be obligated to pay Bank us the amount of such Entry, and with respect to a debit Entry, Customer you shall maintain sufficient funds in the Settlement Account, as defined in Section 73herein, to fund the reversal of such Entry, if necessary. 67.2 8.2 If an Entry (or a request for cancellation or amendment of an Entry) received by Bank us was actually transmitted or authorized by Customeryou, Customer you shall pay Bank us the amount of any such credit Entry and shall maintain funds in the Customer’s your Settlement Account to fund the reversal of any such debit Entry, whether or not Bank we complied with the Security Procedures security procedures described herein or in Schedule A of the Part Iand Premier Business Connect Access and User Agreement and whether or not that Entry was erroneous in any respect or that any such error would have been detected if Bank we had complied with the Security Proceduressecurity procedures.

Compliance with Security Procedures. 67.1 7.1 If an Entry (or a request for cancellation or amendment of an Entry) received by Bank was transferred Initiated/Released in accordance with the Security Procedures applicable to the Service ACH Services and thereby purports to have been transmitted or authorized by Customer, it shall be deemed effective as Customer’s Entry (or request), even if the Entry (or request) was not authorized by Customer. If Bank accepted the Entry (a) in compliance with the Security Procedures with respect to such Entry, (b) in compliance with any written agreement or instruction of Customer restricting acceptance of payment orders ACH funds transfers issued in Customer’s name, and (c) in good faith, then with respect to a credit Credit Entry, Customer shall be obligated to pay Bank the amount of such Entry, and with respect to a debit Debit Entry, Customer shall maintain sufficient funds in the Settlement Account, as defined in Section 73, Account to fund the reversal of such Entry, if necessary. 67.2 7.2 If an Entry (or a request for cancellation or amendment of an Entry) received by Bank was actually transmitted Initiated/Released or authorized by Customer, Customer shall pay Bank the amount of any such credit Credit Entry and shall maintain funds in the Customer’s Settlement Account to fund the reversal of any such debit Debit Entry, whether or not Bank complied with the Security Procedures described herein or in the Part Iand Commercial Online Banking System and/or the Santander® Enterprise Payments Link Schedules and whether or not that Entry was erroneous in any respect or that any such error would have been detected if Bank had complied with the Security Procedures.

Compliance with Security Procedures. 67.1 6.1 If an Entry (or a request for cancellation or amendment of an Entry) received by Bank was transferred in accordance with the Security Procedures applicable to the Service and thereby purports to have been transmitted or authorized by Customer, it shall be deemed effective as Customer’s 's Entry (or request), even if the Entry (or request) was not authorized by Customer. If Bank accepted the Entry (a) in compliance with the Security Procedures with respect to such Entry, (b) in compliance with any written agreement or instruction of Customer restricting acceptance of payment orders issued in Customer’s 's name, and (c) in good faith, then with respect to a credit Entry, Customer shall be obligated to pay Bank the amount of such Entry, and with respect to a debit Entry, Customer shall maintain sufficient funds in the Settlement Account, as defined in Section 7315, to fund the reversal of such Entry, if necessary. 67.2 6.2 If an Entry (or a request for cancellation or amendment of an Entry) received by Bank was actually transmitted or authorized by Customer, Customer shall pay Bank the amount of any such credit Entry and shall maintain funds in the Customer’s 's Settlement Account to fund the reversal of any such debit Entry, whether or not Bank complied with the Security Procedures described herein or otherwise in the Part Iand Appendix and whether or not that Entry was erroneous in any respect or that any such error would have been detected if Bank had complied with the Security Procedures.