Common use of Funds Transfer Services Clause in Contracts

Funds Transfer Services. (a) The Borrower has requested that the Lender and its Affiliates make available to the Borrower electronic funds transfer services and related security measures in connection with the Obligations. A copy of the Lender's current Wire Transfer Procedures, including the Security Procedures, is attached to this Agreement as EXHIBIT B. The Borrower acknowledges and agrees that all electronic funds transfers made by the Lender or any Affiliate of the Lender to, or for the account of, the Borrower shall be governed by, and subject to, the Wire Transfer Procedures and the Security Procedures in effect from time to time. The Borrower and the Lender agree that the current Wire Transfer Procedures and the Security Procedures are commercially reasonable. The Borrower further acknowledges and agrees, however, that the full scope of the Security Procedures which the Lender and its Affiliates offer and strongly recommend for electronic funds transfers is available only if the Borrower communicates directly with the Lender or its Affiliate, as applicable, in accordance with and as required by the Wire Transfer Procedures and the

Appears in 3 contracts

Samples: Financing and Security Agreement (Sensys Technologies Inc), Financing and Security Agreement (Glasstech Inc), Financing and Security Agreement (Weston Roy F Inc)

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Funds Transfer Services. (a) The Borrower has Borrowers have requested that the Lender and its Affiliates make available to the Borrower Borrowers electronic funds transfer services and related security measures in connection with the Obligations. A copy of the Lender's current Wire Transfer Procedures, including the Security Procedures, is attached to this Agreement as EXHIBIT B. The Each Borrower acknowledges and agrees that all electronic funds transfers made by the Lender or any Affiliate of the Lender to, or for the account of, the any Borrower shall be governed by, and subject to, the Wire Transfer Procedures and the Security Procedures in effect from time to time. The Borrower Borrowers and the Lender agree that the current Wire Transfer Procedures and the Security Procedures are commercially reasonable. The Each Borrower further acknowledges and agrees, however, that the full scope of the Security Procedures which the Lender and its Affiliates offer and strongly recommend for electronic funds transfers is available only if the Borrower communicates Borrowers communicate directly with the Lender or its Affiliate, as applicable, in accordance with and as required by the Wire Transfer Procedures and theProcedures

Appears in 1 contract

Samples: Financing and Security Agreement (Flanders Corp)

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