Funds Transfer Disbursements Sample Clauses
The 'Funds Transfer Disbursements' clause defines the procedures and requirements for transferring funds from one party to another under the agreement. Typically, it outlines the methods of payment, such as wire transfers or electronic funds transfers, and may specify timing, account details, and any necessary documentation for disbursement. This clause ensures that both parties understand how and when payments will be made, reducing the risk of delays or disputes over financial transactions.
POPULAR SAMPLE Copied 1 times
Funds Transfer Disbursements. The Borrower hereby authorizes the Administrative Agent to disburse the proceeds of any Loan made by the Lenders or any of their Affiliates pursuant to the Loan Documents as requested by an authorized representative of the Borrower to any of the accounts designated in the Disbursement Instruction Agreement.
Funds Transfer Disbursements. (a) Borrower hereby authorizes Lender to disburse the proceeds of the Loan pursuant to the Loan Documents, as requested by an authorized representative of Borrower, to any of the account(s) to be designated in the form attached hereto as Exhibit D. Borrower agrees to be bound by any transfer request: (i) authorized or transmitted by Borrower; or (ii) made in Borrower’s name and accepted by Lender in good faith and in compliance with these transfer instructions, even if not properly authorized by Borrower. Borrower further agrees and acknowledges that Lender may rely solely on any bank routing number or identifying bank account number or name provided by Borrower to effect a wire or funds transfer even if the information provided by Borrower identifies a different bank or account holder than named by Borrower. Lender is not obligated or required in any way to take any actions to detect errors in information provided by Borrower.
(b) If Lender takes any actions in an attempt to detect errors in the transmission or content of transfer or requests or takes any actions in an attempt to detect unauthorized funds transfer requests, Borrower agrees that no matter how many times Lender takes these actions Lender will not in any situation be liable for failing to take or correctly perform these actions in the future, and such actions shall not become any part of the transfer disbursement procedures authorized under this provision, the Loan Documents or any agreement between Lender and Borrower. Borrower agrees to notify Lender of any errors in the transfer of any funds or of any unauthorized or improperly authorized transfer requests within fourteen (14) days after Lender’s confirmation to Borrower of such transfer.
(c) Lender will, in its sole discretion, determine the funds transfer system and the means by which each transfer will be made. Lender may delay or refuse to accept a funds transfer request if the transfer would: (i) violate the terms of this authorization, (ii) require use of a bank unacceptable to Lender or prohibited by government authority, (iii) cause Lender to violate any Federal Reserve Board or other regulatory risk control program or guideline, or (iii) otherwise cause Lender to violate any applicable law or regulation.
(d) Lender shall not be liable to Borrower or any other parties for (i) errors, acts or failures to act of others, including other entities, banks, communications carriers or clearinghouses, through which Borrower’s transfers may...
Funds Transfer Disbursements. The Borrower hereby authorizes the Administrative Agent to disburse the proceeds of any Loan made by the Lenders or any of their Affiliates pursuant to the Loan Documents as requested by an authorized representative of the Borrower to any of the accounts designated in the Disbursement Instruction Agreement.
(h) The Credit Agreement is further amended by restating Section 3.6.(d) thereof in its entirety to read as follows:
Funds Transfer Disbursements. 51 Section 2.18. Reallocations on Effective Date. ....................................................... 51 Article III.
Funds Transfer Disbursements. 5053 Article III.
Funds Transfer Disbursements. Section 2.13 Revolving Note Section 2.14 Letters of Credit
Funds Transfer Disbursements. 5150 Section 2.18. Reallocations on Effective Date. 5150 Section 2.19. Initial Benchmark Conforming Changes. 50 Article III. Payments, Fees and Other General Provisions 5251 Section 3.1.
Funds Transfer Disbursements. 33 2.10 Intentionally Deleted................................................................................... 34
Funds Transfer Disbursements. Borrower hereby authorizes Administrative Agent, to disburse the proceeds of all or any portion of the Loan made by Lenders or any of their Affiliates pursuant to the Loan Documents as requested by an authorized representative of the Borrower to any of the accounts designated in the Disbursement Instruction Agreement, and subject to the terms and conditions contained therein.
Funds Transfer Disbursements. 48 Article III PAYMENTS, FEES AND OTHER GENERAL PROVISIONS .......................... 48 Section 3.1. Payments. ............................................................................................... 48 Section 3.2. Pro Rata Treatment. ............................................................................... 49 Section 3.3. Sharing of Payments, Etc. ...................................................................... 49