Payment Orders. Payment orders for funds transfer transactions, and the cancellation or amendment thereof (“Payment Order(s)”), shall be communicated to us only via such means as we specifically agree with you in writing. Payment Orders must be received at the Funds Transfer Department at our Office on a Banking Day and before such cut-off time(s) as we designates from time to time for Payment Orders. Payment Orders not received on a Banking Day or received after the designated cut-off time(s) shall not be processed by us until its next succeeding Banking Day. We reserve the right to process Payment Orders received by us from its various customers in such order as is determined by us, at its sole discretion. We further reserve the right to reject or delay its acceptance and/or execution of any Payment Order which we determine is unclear, incomplete or otherwise unsatisfactory to us. If a Payment Order does not specifically designate the Account which is to serve as the source of payment of the Payment Order, any of your Accounts at the Branch shall be an authorized Account for such Payment Order, if payment of the Payment Order from that Account is not inconsistent with any restrictions imposed by you on the use of that Account. We will use reasonable efforts to provide you with written notice of its rejection of any Payment Order on or prior to the execution date of the Payment Order, using the same means of communication used by you to transmit the Payment Order to us; provided, however, that we shall not be liable to you for interest compensation as a result of its failure to give such notice. You agree that this procedure constitutes a commercially reasonable means of notice. We may condition our acceptance and/or execution of a cancellation or amendment of the Payment Order by any one or all of the following: (a) receipt of adequate information reasonably identifying the original Payment Order, (b) an indemnity or bond holding us harmless from any and all liability arising from our execution of the amendment or cancellation, (c) our receipt of sufficient notice to provide it with a reasonable opportunity to act, and (d) compliance with the Security Procedure (hereafter described).
Appears in 3 contracts
Samples: Account Terms and Conditions, Account Terms and Conditions, Account Terms and Conditions
Payment Orders. Payment orders for funds transfer transactions, transactions and the cancellation or amendment thereof (“Payment Order(s)”), shall be communicated to us Helm only via such means as we specifically agree with you in telefax, E-Mail or through HelmInOne or by original writing. Payment Orders must be sent to and received at Helm Office. Payment Orders must be received at the Funds Transfer Department at our Helm Office on a Banking Day and before such cut-off time(s) as we Helm designates from time to time for Payment Orders. Payment Orders not received on a Banking Day or received after the designated cut-off time(s) shall not be processed by us Helm until its next succeeding Banking Day. We reserve the right to process Payment Orders received by us Helm from its various customers in such order as is determined by usHelm, at its sole discretion. We further reserve the right to reject or delay its acceptance and/or execution of any Payment Order which we determine Helm determines is unclear, incomplete or otherwise unsatisfactory to usHelm. If a Payment Order does not specifically designate the Account which is to serve as the source of payment of the Payment Order, any of your Accounts at the Branch shall be an authorized Account for such Payment Order, if payment of the Payment Order from that Account is not inconsistent with any restrictions imposed by you on the use of that Account. We Helm will use reasonable its best efforts to provide you with written notice of its rejection of any Payment Order on or prior to the execution date of the Payment Order, using the same means of communication used by you to transmit the Payment Order to usHelm; provided, however, that we Helm shall not be liable to you for interest compensation as a result of its failure to give such notice. You agree that this procedure constitutes a commercially reasonable means of notice. We No Payment Order shall contain, and the Helm shall have no duty or obligation to execute any Payment Order that contain any condition to its execution except that you may specify the date of payment. If a Payment Order does not specifically designate the Account which is to serve as the source of payment of the Payment Order, any of your Accounts at Helm shall be an authorized Account for such Payment Order, if payment of the Payment Order from that Account is not inconsistent with any restrictions imposed by you on the use of that Account. Helm may condition our its acceptance and/or execution of a cancellation or amendment of the Payment Order by any one or all of the following: (a) receipt of adequate information reasonably identifying the original Payment Order, ; (b) an indemnity or bond holding us Helm harmless from any and all liability arising from our Xxxx’x execution of the amendment or cancellation, amendment; (c) our Xxxx’x receipt of sufficient notice to provide it with a reasonable opportunity to act, ; and (d) compliance with the Security Procedure (hereafter described).
Appears in 2 contracts
Samples: Account Agreement, Account Agreement
Payment Orders. Payment orders Instructions for funds transfer transactions, and the cancellation or amendment thereof (“Payment Order(s)”), shall be communicated to us Bank only via such means as we specifically agree with you in facsimile, EMail (through Bank Internet Servi- ces only) or by original writing. Payment Orders must be sent to and received at the Funds Transfer Department Bank Office. Payment orders must be received at our Office the Bank Office on a funds transfer Banking Day and before such cut-off cutoff time(s) as we Bank designates from time to time for Payment Orders. Payment Orders not received on a fundstransfer Banking Day or received after the designated cut-off cutoff time(s) shall not be processed by us Bank until its next succeeding fundstransfer Banking Day. We reserve Bank reserves the right to process Payment Orders received by us Bank from its various customers in such order as is determined by usBank, at its sole discretion. We Bank further reserve reserves the right to reject or delay its acceptance acceptan- ce and/or execution of any Payment Order which we determine Bank determines is unclear, incomplete or otherwise unsatisfactory unsa- tisfactory to usBank. If a Payment Order does not specifically specifically designate the Account which is to serve as the source of payment of the Payment Order, any of your Accounts at the Branch Bank shall be an authorized Account for such Payment Order, if payment of the Payment Order from that Account is not inconsistent with any restrictions imposed by you on the use of that Account. We Bank will use reasonable its best efforts to provide you with written notice of its rejection of any Payment Order on or prior to the execution date of the Payment Order, using the same means of communication used by you to transmit the Payment Order to usBank; provided, however, that we Bank shall not be liable to you for interest compensation as a result of its failure to give such notice. You agree that this procedure constitutes a commercially com- mercially reasonable means of notice. We Bank may condition our its acceptance and/or execution of a cancellation or amendment of the Payment Order by any one or all of the following: (a) receipt of adequate information reasonably identifying the original Payment Order, (b) an indemnity or bond holding us Bank harmless from any and all liability arising from our Bank’s execution of the amendment or cancellation, (c) our Bank’s receipt of sufficient sufficient notice to provide it with a reasonable opportunity oppor- tunity to act, and (d) compliance with the Security Procedure (hereafter described).
Appears in 1 contract
Samples: Account Agreement
Payment Orders. Payment orders for You are authorized to honor and execute funds transfer transactions, and the cancellation or amendment thereof withdrawal instructions (“Payment Order(s)Orders”)) given to you by any of the undersigned’s agents as identified in Section 23.a) hereof, shall be communicated including Payment Orders that may create an overdraft and those that are for the benefit of any authorized representative, officer, agent or employee of the undersigned, without inquiry into the circumstances; you have the right to us only via such means refuse Payment Order instructions if sufficient funds are not available in the account or for any other reason. Except as we specifically agree with you otherwise modified hereby, the parties intend that the transactions contemplated hereby are deemed funds transfers subject to the Uniform Commercial Code. Notwithstanding anything else to the contrary in writing. this Agreement, changes to assigned agents and/or telephone numbers utilized to affirm/disaffirm Payment Orders must be received at provided to you by the Funds Transfer Department at our Office on a Banking Day undersigned in writing and before such cut-off time(s) as we designates from time to time for Payment Orders. Payment Orders not received on a Banking Day or received after the designated cut-off time(s) shall not be processed effective until acknowledged by us until its next succeeding Banking Dayyou. We reserve the right to process You may complete all Payment Orders received based upon original standing instructions until the changes become effective. You may terminate the arrangement concerning Payment Orders as described in this Agreement at any time without notice. The undersigned may terminate the arrangement concerning Payment Orders as described in this Agreement by us from its various customers in such order as is determined by us, at its sole discretion. We further reserve the right to reject or delay its acceptance and/or execution of any Payment Order which we determine is unclear, incomplete or otherwise unsatisfactory to us. If a Payment Order does not specifically designate the Account which is to serve as the source of payment of the Payment Order, any of your Accounts at the Branch shall be an authorized Account for such Payment Order, if payment of the Payment Order from that Account is not inconsistent with any restrictions imposed by providing you on the use of that Account. We will use reasonable efforts to provide you with written notice of its rejection termination that shall become effective upon your receipt of any Payment Order on or prior to the execution date of the Payment Order, using the same means of communication used by you to transmit the Payment Order to us; provided, however, that we shall not be liable to you for interest compensation as a result of its failure to give such notice. You agree that this procedure constitutes a commercially reasonable means may complete all Payment Orders accepted on the day the termination becomes effective. You are authorized to promptly debit the account(s) of notice. We may condition our acceptance and/or execution the undersigned upon the receipt of a cancellation or amendment of the Payment Order. You shall process each such Payment Order by any one or all in compliance with the selected security procedure (a “Security Procedure”) chosen for funds transfer and in the amount of the following: (a) receipt of adequate information reasonably identifying the original money that you have been instructed to transfer. You shall execute Payment Order, (b) an indemnity or bond holding us harmless from any and all liability arising from our execution of the amendment or cancellation, (c) our receipt of sufficient notice to provide it with a reasonable opportunity to act, and (d) Orders in compliance with the Security Procedure (hereafter described)and with the undersigned’s instructions on the execution date provided that such Payment Order is received by the customary deadline for processing such a request, unless the Payment Order specifies a later time. All Payment Orders and communications received after this time will be deemed to have been received on the next business day. To the extent the undersigned initiates any Payment Orders directly with you, the undersigned acknowledges that the Security Procedure it has designated below in Section 23.b) hereof was selected by the undersigned from Security Procedures offered by you. The undersigned shall restrict access to confidential information relating to the Security Procedure to authorized persons of the undersigned as communicated in writing to you. The undersigned shall notify you immediately if it has reason to believe unauthorized persons may have obtained access to such information or of any change in the undersigned’s authorized personnel. You shall verify the authenticity of all instructions pursuant to the Security Procedure selected. You shall process all Payment Orders on the basis of the account number contained in the Payment Order. In the event of a discrepancy between any fund or entity name indicated on the Payment Order and the account number, the account number shall take precedence and govern. You shall use reasonable efforts to act on all authorized requests to cancel or amend Payment Orders received in compliance with the Security Procedure provided that such requests are received in a timely manner affording you reasonable opportunity to act. However, you assume no liability if the request for amendment or cancellation cannot be satisfied. You shall assume no responsibility for failure to detect any erroneous Payment Order provided that you comply with the Payment Order instructions as received and you comply with the Security Procedure chosen by the undersigned. The Security Procedure is established for the purpose of authenticating Payment Orders only and not for the detection of errors in Payment Orders. The undersigned agrees that all Payment Orders may be verified by you pursuant to the security procedures selected in Section 23.b) hereof but agrees that you are not obligated to verify Payment Orders and may execute them without use of these verification processes. Notwithstanding any choice made In Section 23.b) hereof below, any funds transfer instructions received via e-mail must be confirmed by telephone callback to an authorized person other than the initiator of the instruction.
Appears in 1 contract
Samples: Custody Account Agreement (Evercore Investment Corp)