Common use of Compliance with Security Procedures Clause in Contracts

Compliance with Security Procedures. If an Entry (or a request for cancellation or amendment of an Entry) received by the Bank purports to have been transmitted or authorized by the Customer, it will be deemed effective as the Customer's Entry (or request) and the Customer shall be obligated to pay the Bank the amount of such Entry (or request) even though the Entry (or request) was not authorized by the Customer, provided the Bank acted in compliance with the security procedures sent to Customer. If signature comparison is to be used as part of that security procedure, the Bank shall be deemed to have complied with that part of such procedure if it compares the signature accompanying a file of Entries (or request) with the signature of an Authorized Representative of the Customer and, on the basis of such comparison, believes the signature to be that of such Authorized Representative.

Compliance with Security Procedures. 7.1 If an Entry (or a request for cancellation or amendment of an Entry) received by the Bank purports to have been transmitted or authorized by the Customer, it will be deemed effective as the Customer's ’s Entry (or request) ), and the Customer shall be obligated to pay the Bank the amount of such Entry (or request) even though the Entry (or request) was not authorized by the Customer, provided the Bank acted in compliance with the security procedures sent to CustomerSecurity Procedures. If To the extent that signature comparison is to be used as part of that security procedureany applicable Security Procedures, the Bank shall be deemed to have complied with that part of such procedure Security Procedures if it compares the signature accompanying a file of Entries (or request) with the signature of an Authorized Representative of the Customer and, on the basis of such comparison, believes the signature to be that of such Authorized Representative.

Compliance with Security Procedures. a) If an Entry a Request (or a request Request for cancellation or amendment of an Entrya Wire Transfer) received by the Bank purports to have been transmitted or authorized by the CustomerClient, it will be deemed effective as the Customer's Entry (or request) Client’s Request and the Customer Client shall be obligated to pay the Bank the amount of such Entry (or request) Wire Transfer even though the Entry (or request) Request was not authorized by the CustomerClient, provided Bank accepted the Bank Request in good faith and acted in compliance with the security procedures sent Security Procedures with respect to Customersuch Request. If signature comparison is to be used as part of that security procedurethose Security Procedures, the Bank shall be deemed to have complied with that part of such procedure procedures if it compares the signature accompanying a file of Entries Request (or requestRequest for cancellation or amendment of a Wire Transfer) received with the signature of an Authorized Representative of the Customer User and, on the basis of such comparison, believes the signature of Client sending such file to be that of such Authorized Representativethe User.