Common use of Funds Transfer Instructions Clause in Contracts

Funds Transfer Instructions. (a) Client authorizes Bank to act upon instructions for the transfer of funds from the Account to any other account(s) of Client or to any third party when such instructions are received from Client or Client’s Authorized Representative (as designated in Paragraph 7 hereof) and have been authenticated by Bank in accordance with the securities procedures agreed to by Client as set forth in Paragraph (b) below. (b) Client agrees to the security procedure(s) offered by Bank to authenticate, amend, and request cancellation of funds transfer instructions as set forth below. If a funds transfer instruction received by Bank purports to have been transmitted or authorized by Client, it will be deemed effective as Client’s instruction if Bank followed the security procedure(s) set forth below:

Funds Transfer Instructions. (a) Client authorizes Bank to act upon instructions for the transfer of funds from the Account to any other account(s) of Client or to any third party when such instructions are received from Client or Client’s 's Authorized Representative (as designated in Paragraph 7 hereof) and have been authenticated by Bank in accordance with the securities procedures agreed to by Client as set forth in Paragraph (b) below. (b) Client agrees to the security procedure(s) offered by Bank to authenticate, amend, and request cancellation of funds transfer instructions as set forth below. If a funds transfer instruction received by Bank purports to have been transmitted or authorized by Client, it will be deemed effective as Client’s 's instruction if Bank followed the security procedure(s) set forth below: