Funds Transfer Security Procedures Sample Clauses

Funds Transfer Security Procedures. With respect to any “funds transfer,” as defined in Article 4-A of the Uniform Commercial Code, the following security procedure will apply: The Borrower’s payment instruction is to include the name and (in the case of a facsimile) signature of the person initiating the funds transfer request. If the name is listed as an Authorized Person on a certificate in the form of Schedule I hereto delivered pursuant to the Agreement, the Bank will confirm the instructions by telephone call to any person listed as an Authorized Person, who may be the same person who initiated the instruction. When calling back, the Bank will request from the relevant party’s staff member his or her name. If the name is listed in the Escrow Agent’s records as an Authorized Person, the Bank will confirm the instructions with respect to amount, names and numbers of accounts to be charged or credited and other relevant reference information. The Borrower acknowledges that the Bank has offered such party other security procedures that are more secure and are commercially reasonable for such party, and that such party has nonetheless chosen the procedures described in this paragraph. The Borrower agrees to be bound by any payment order issued in its name, whether or not authorized, that is accepted by the Bank in accordance with the above procedures. When instructed to credit or pay a party by both name and a unique numeric or alpha-numeric identifier (e.g. ABA number or account number), the Bank, and any other bank participating in the funds transfer, may rely solely on the unique identifier, even if it identifies a party different than the party named. This applies to beneficiaries as well as any intermediary bank. The Borrower agrees to be bound by the rules of any funds transfer network used in connection with any payment order accepted by the Bank hereunder. The Escrow Agent shall not be obliged to make any payment or otherwise to act on any instruction notified to it under this Agreement if it is unable to validate the authenticity of the request by telephoning an Authorized Person who has not executed the relevant request or instruction of the relevant party. Payment or other action on any instruction by an Authorized Person of the relevant party will be made or taken by the Escrow Agent as promptly as possible after Escrow Agent’s verification of instructions as set forth above, which in no case shall exceed (i) if such instructions are provided at or prior to 9:30 a.m. Eastern tim...
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Funds Transfer Security Procedures. We will provide non-consumer customers with specific Security Procedures that apply to funds transfers made in connection with certain Online Banking Services (such as, but not limited to wire transfers and ACH transfers) (those Security Procedures are referred to as “Funds Transfer Security Procedures”). You agree: (i) to carefully review the Funds Transfer Security Procedures we provide; and (ii) that the authenticity of funds transfer instructions issued to us in your name will be verified pursuant to such Funds Transfer Security Procedures. If you use an Online Banking Service that involves us making funds transfers, you confirm that you have received and reviewed our Funds Transfer Security Procedure for that service and that, considering your wishes and circumstances, among other things, our Funds Transfer Security Procedure is commercially reasonable. The internal policies, procedures and technologies that we employ from time to time shall be taken into account for purposes of determining whether our Funds Transfer Security Procedure is commercially reasonable, even if not contained in the materials we provide to you. Alternative Security Procedures may be available upon request, but unless an alternative is agreed to in writing, you will be considered to have chosen the Funds Transfer Security Procedure we provided. ANY FUNDS TRANSFER INSTRUCTION ISSUED TO US IN YOUR NAME SHALL BE EFFECTIVE AS YOUR VALID ORDER TO US AND YOU AGREE TO BE BOUND BY IT IF: (1) IT WAS IN FACT TRANSMITTED OR AUTHORIZED BY YOU OR ON YOUR BEHALF; OR (2) IT WAS ACCEPTED BY US IN COMPLIANCE WITH OUR FUNDS TRANSFER SECURITY PROCEDURE, WHETHER OR NOT IT WAS ACTUALLY AUTHORIZED BY YOU. We are not obligated to comply with instructions you give us restricting us from making funds transfers unless and until we actually receive and acknowledge them in writing and have a reasonable opportunity to act on them. In the event that we receive or act on any unauthorized funds transfer instructions, you agree to cooperate and to provide such information as we may reasonably request to investigate and recover any resulting loss.
Sample 1
Funds Transfer Security Procedures. Each of the Parties acknowledges that the Escrow Agent will follow the security procedures set forth in this paragraph with respect to Escrow Funds transfers. Upon receipt of instructions to deliver Escrow Funds, the Escrow Agent will confirm the instructions set forth in such instructions with the person executing such instructions at the relevant telephone number listed in Section 9 hereof. Each of the Parties will restrict access to confidential information relating to such security procedures to authorized persons. In executing Escrow Funds transfers, the Escrow Agent will rely upon account numbers or other identifying numbers of a beneficiary, beneficiary's bank or intermediary bank rather than names. The Escrow Agent shall not be liable for any loss, liability or expense resulting from any error in an account number or other identifying number provided it has accurately transmitted the numbers provided.
Sample 1
Funds Transfer Security Procedures. In connection with funds transfers, the Customer may give any Pay- ment Order in accordance with any one of the procedures below selected by the Customer. The giving of a Payment Order in accordance with such procedure shall be deemed to be Customer’s selection of such procedure to be the sole procedure to be used by it and conclusive evi- dence of the Customer’s agreement to the terms and conditions set forth in the Bank's Funds Transfer Agreement as in effect from time to time (capitalized terms used herein being defined therein). Upon re- quest, the Bank will furnish the Customer with a copy of such Agreement.
Sample 1

Related to Funds Transfer Security Procedures

  • Security Procedures The Fund shall comply with data access operating standards and procedures and with user identification or other password control requirements and other security procedures as may be issued from time to time by State Street for use of the System on a remote basis and to access the Data Access Services. The Fund shall have access only to the Fund Data and authorized transactions agreed upon from time to time by State Street and, upon notice from State Street, the Fund shall discontinue remote use of the System and access to Data Access Services for any security reasons cited by State Street; provided, that, in such event, State Street shall, for a period not less than 180 days (or such other shorter period specified by the Fund) after such discontinuance, assume responsibility to provide accounting services under the terms of the Custodian Agreement.

  • Security Procedure The Client acknowledges that the Security Procedure it has designated on the Selection Form was selected by the Client from Security Procedures offered by State Street. The Client agrees that the Security Procedures are reasonable and adequate for its wire transfer transactions and agrees to be bound by any payment orders, amendments and cancellations, whether or not authorized, issued in its name and accepted by State Street after being confirmed by any of the selected Security Procedures. The Client also agrees to be bound by any other valid and authorized payment order accepted by State Street. The Client shall restrict access to confidential information relating to the Security Procedure to authorized persons as communicated in writing to State Street. The Client must notify State Street immediately if it has reason to believe unauthorized persons may have obtained access to such information or of any change in the Client’s authorized personnel. State Street shall verify the authenticity of all instructions according to the Security Procedure.

  • Funds Transfer The Administrative Agent will, in its sole discretion, determine the funds transfer system and the means by which each transfer will be made. The Administrative Agent 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 the Administrative Agent or any Lender or prohibited by any Governmental Authority, (iii) cause the Administrative Agent or any Lender to violate any Federal Reserve or other regulatory risk control program or guideline or (iv) otherwise cause the Administrative Agent or any Lender to violate any Applicable Law or regulation.

  • Funds Transfers With respect to each Instruction for a Cash transfer, when the Instruction is to credit or pay a party by both a name and a unique numeric or alpha-numeric identifier (e.g., IBAN or ABA or account number), BNY Mellon and any other bank participating in the Cash transfer will be entitled to rely solely on such numeric or alpha-numeric identifier, even if it identifies a party different from the party named. Such reliance on an identifier will apply to beneficiaries named in the Instruction, as well as any financial institution that is designated in the Instruction to act as an intermediary in such Cash transfer. To the extent permitted by applicable law, the Parties will be bound by the rules of any transfer system used to effect a Cash transfer under this Agreement.

  • Electronic Funds Transfer (EFT) The recipient/cooperator shall designate a financial institution or an authorized payment agent through which a federal payment may be made in accordance with US Treasury Regulations, Money and Finance at 00 XXX 000, which requires that federal payments are to be made by EFT to the maximum extent possible. A waiver may be requested and payments received by check by certifying in writing that one of the following situations apply: 1. The payment recipient does not have an account at a financial institution. 2. EFT creates a financial hardship because direct deposit will cost the payment recipient more than receiving a check. 3. The payment recipient has a physical or mental disability, or a geographic, language, or literacy barrier. In order to receive EFT payments the recipient/cooperator shall register in the System for Award Management (XXX). You may register by going to xxx.xxx.gov and following the instructions provided online. For assistance, contact the XXX User Help by contacting the supporting Federal Service Desk at (000)000-0000 or xxx.xxx.xxx .

  • 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.

  • Electronic Funds Transfer Upon reinstatement by Xxxxxxxx, this Security Instrument and obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under Section 18.

  • Safety and Security Procedures Contractor shall maintain and enforce, at the Contractor Work Locations, industry-standard safety and physical security policies and procedures. While at each JBE Work Location, Contractor shall comply with the safety and security policies and procedures in effect at such JBE Work Location.

  • Security Safeguards Contractor shall maintain a comprehensive security program that is reasonably designed to protect the security, privacy, confidentiality, and integrity of District Data. Contractor shall store and process District Data in accordance with industry standards and best practices, including implementing appropriate administrative, physical, and technical safeguards that are no less rigorous than those outlined in CIS Critical Security Controls (CIS Controls), as amended, to secure such data from unauthorized access, disclosure, alteration, and use. Contractor shall ensure that all such safeguards, including the manner in which District Data is collected, accessed, used, stored, processed, disposed of and disclosed, comply with all applicable federal and state data protection and privacy laws, regulations and directives, including without limitation the Act, as well as the terms and conditions of this Addendum. Without limiting the foregoing, and unless expressly agreed to the contrary in writing, Contractor warrants that all electronic District Data will be encrypted in transmission and at rest in accordance with NIST Special Publication 800-57, as amended, or such other standard as the District’s Chief Privacy Officer or designee may agree to in writing. Contractor shall also encrypt any backup, backup media, removable media, tape, or other copies. In addition, Contractor shall fully encrypt disks and storage for all laptops and mobile devices.

  • Security Program Contractor will develop and implement an effective security program for the Project Site, which program shall require the Contractor and subcontractors to take measures for the protection of their tools, materials, equipment, and structures. As between Contractor and Owner, Contractor shall be solely responsible for security against theft of and damage of all tools and equipment of every kind and nature and used in connection with the Work, regardless of by whom owned.

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