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. 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. 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. 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.

  • Disbursement Procedures The Issuing Bank shall, promptly following its receipt thereof, examine all documents purporting to represent a demand for payment under a Letter of Credit. The Issuing Bank shall promptly notify the Administrative Agent and the Borrower by telephone (confirmed by telecopy) of such demand for payment and whether the Issuing Bank has made or will make an LC Disbursement thereunder; provided that any failure to give or delay in giving such notice shall not relieve the Borrower of its obligation to reimburse the Issuing Bank and the Lenders with respect to any such LC Disbursement.

  • FORM AND SECURITY PROCEDURES Proper Instructions may be in writing signed by the authorized individual or individuals or may be in a tested communication or in a communication utilizing access codes effected between electro-mechanical or electronic devices or may be by such other means and utilizing such intermediary systems and utilities as may be agreed to from time to time by the Custodian and the individual or organization giving the instruction, provided that the Fund has followed any security procedures agreed to from time to time by the applicable Fund and the Custodian including, but not limited to, the security procedures selected by the Fund by reference to the form of Funds Transfer Addendum hereto, the terms of which are part of this Agreement. The Custodian may agree to accept oral instructions, and in such case oral instructions will be considered Proper Instructions. The Fund shall cause all oral instructions to be confirmed in writing, but the Fund’s failure to do so shall not affect the Custodian’s authority to rely on the oral instructions.

  • Foreign Securities Depositories Except as may otherwise be agreed upon in writing by the Custodian and the Fund, foreign assets of the Fund shall be maintained in foreign securities depositories only through arrangements implemented by the banking institutions serving as sub- custodians pursuant to the terms hereof. 3.4

  • Administrative Procedures Administrative procedures with respect to the sale of Notes shall be agreed upon from time to time by the Agents and the Company (the "Procedures"). The Agents and the Company agree to perform the respective duties and obligations specifically provided to be performed by them in the Procedures.

  • Sale Procedures In connection with its obligations under this Article II, the Partnership will, as expeditiously as possible:

  • Auction Procedures The provisions contained in Section 11.10 of the Amended and Restated Bylaws concerning Auction Procedures will be followed by the Fund and, to the extent applicable, the Auction Agent, and the provisions contained therein are incorporated herein by reference in their entirety and shall be deemed to be a part of this Agreement to the same extent as if such provisions were set forth fully herein.

  • Information Security Program (1) DTI shall implement and maintain a comprehensive written information security program applicable to the Personal Information ("Information Security Program") which shall include commercially reasonable measures, including, as appropriate, policies and procedures and technical, physical, and administrative safeguards that are consistent with industry standards, providing for (i) the security and confidentiality of the Personal Information, (ii) protection of the Personal Information against reasonably foreseeable threats or hazards to the security or integrity of the Personal Information, (iii) protection against unauthorized access to or use of or loss or theft of the Personal Information, and (iv) appropriate disposal of the Personal Information. Without limiting the generality of the foregoing, the Information Security Program shall provide for (i) continual assessment and re-assessment of the risks to the security of Personal Information acquired or maintained by DTI and its agents, contractors and subcontractors in connection with the Services, including but not limited to (A) identification of internal and external threats that could result in unauthorized disclosure, alteration or destruction of Personal Information and systems used by DTI and its agents, contractors and subcontractors, (B) assessment of the likelihood and potential damage of such threats, taking into account the sensitivity of such Personal Information, and (C) assessment of the sufficiency of policies, procedures, information systems of DTI and its agents, contractors and subcontractors, and other arrangements in place, to control risks; and (ii) appropriate protection against such risks.

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