PAYMENTS ORDERS AND FUNDS TRANSFERS Sample Clauses

PAYMENTS ORDERS AND FUNDS TRANSFERS. (1) Bank is authorized to act on any oral or written directions whether delivered or communicated to Bank in person, by messenger, by telephone, telegraph, facsimile transmission, telex, U.S. mail, approved automated or electronic transmission or in other manner mutually agreed upon in writing by Bank and Depositor, and Bank shall be entitled to rely on any writing, letter, telex, teletype message, cablegram, statement, order, instruction, or other written communication, or any telephone or personal conversation believed by Bank in good faith to have been signed, forwarded, delivered and/or communicated by any Authorized Signatory and/ or any other authorized representative or agent of Depositor. (2) Bank shall be under no obligation to comply with any payment order or to make any funds transfer which would exceed the available collected balance of funds in this Account. (3) Depositor shall have no right to cancel or amend any payment order after it is accepted by Bank, unless Bank otherwise agrees in writing. (4) In the event of an erroneous or otherwise irregular funds transfer, Bank may, but shall not be obligated to, on its own initiative or pursuant to Depositor’s request, ask the receiving bank, the beneficiary’s bank or the beneficiary of the funds transfer, to return the funds previously transferred in error on behalf of Depositor. (5) A payment order issued by Xxxxxxxxx is paid at the time the payment order is executed, at the time the transfer is credited to the beneficiary’s account on the books of Bank, or at the time the advice of credit of such funds transfer is forwarded or otherwise communicated to the beneficiary by Bank, whichever occurs first. (6) Bank is authorized to record any telephonic or other oral instructions received by Bank from Depositor regarding funds transfers or receipts; however, Bank has no duty to record and/or maintain any record of Depositor’s oral instructions by audio tape or handwritten notes. (7) Bank may handle and/or execute payment orders received from Depositor and/or from other Bank customers in any order selected by Bank, in its sole and absolute discretion, regardless of time and/or order of sequence of receipt by Bank, and Bank may use any means, methods, or routes which it, in its sole and absolute discretion, may consider suitable for executing each separate payment order. (8) Bank may establish, designate and provide notice of a cutoff time or opening and closing times for each Bank or branch location a...
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Related to PAYMENTS ORDERS AND FUNDS TRANSFERS

  • 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.

  • Wire Transfers Notwithstanding any other provision to the contrary in this Indenture, the Company may make any payment of moneys required to be deposited with the Trustee on account of principal of, or premium, if any, or interest on the Securities (whether pursuant to optional or mandatory redemption payments, interest payments or otherwise) by wire transfer of immediately available funds to an account designated by the Trustee on or before the date and time such moneys are to be paid to the Holders of the Securities in accordance with the terms hereof.

  • ACH and Wire Transfers This Agreement is subject to Article 4A of the Uniform Commercial Code - Funds Transfers as adopted by the state in which the account is opened. If you send or receive a wire transfer, you agree that Fedwire® Funds Service may be used. Federal Reserve Board Regulation J is the law that covers transactions made over Fedwire® Funds Service. When you originate a funds transfer for which Fedwire® Funds Service is used, and you identify by name and number a beneficiary financial institution, an intermediary financial institution or a beneficiary, we and every receiving or beneficiary institution may rely on the identifying number to make payment. We may rely on the number even if it identifies a financial institution, person or account other than the one named. If you are a party to an Automated Clearing House ("ACH") entry, you agree that we may transmit an entry through the ACH, and you agree to be bound by the National Automated Clearing House Association ("NACHA") Operating Rules and Guidelines, the rules of any local ACH, and the rules of any other systems through which the entry is made. Provisional Payment. Credit we give you is provisional until we receive final settlement for that entry. If we do not receive final settlement, you agree that we are entitled to a refund of the amount credited to you in connection with the entry, and the party making payment to you via such entry (i.e., the originator of the entry) shall not be deemed to have paid you in the amount of such entry. Notice of Receipt. We will not provide you with notice of our receipt of the order, unless we are so requested by the transfer originator in the order. However, we will continue to notify you of the receipt of payments in the periodic statements we provide to you. Choice of Law. We may accept on your behalf payments to your account which have been transmitted, that are not subject to the Electronic Fund Transfer Act, and your rights and obligations with respect to such payments shall be construed in accordance with and governed by the laws of the state where we are located.

  • Payments by Wire-Transfer All payments under this Single Family Shared-Loss Agreement shall be made by wire-transfer in accordance with the wire-transfer instructions on Exhibit 4.

  • Electronic Funds Transfers By signing the Account Card, completing and transmitting an online account card or service request, or signing or using the Visa Debit Card, or Home Banking service you agree to the following terms governing your and our rights and responsibilities concerning the electronic funds transfer services, as applicable. Terms and conditions set forth elsewhere in this Agreement shall also apply to your electronic funds transfer service. Electronic funds transfers ("EFTs") are electronically initiated transfers of money through direct deposits, automated teller machines ("ATMs"), point of sale transactions, debit card purchases, audio response transactions and online transactions involving your deposit accounts at the Credit Union.

  • 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.

  • Payments in U.S. Dollars All payments due under this Agreement shall be drawn on a United States bank and shall be payable in United States dollars. Conversion of foreign currency to U.S. dollars shall be made at the conversion rate existing in the United States (as reported in the Wall Street Journal) on the last working day of the calendar quarter of the applicable REPORTING PERIOD. Such payments shall be without deduction of exchange, collection, or other charges, and, specifically, without deduction of withholding or similar taxes or other government imposed fees or taxes, except as permitted in the definition of NET SALES.

  • Deposit Account Payments Subsection (b) is amended to read as follows:

  • Void Transfers To the greatest extent permitted by the Act and other Law, any Transfer by any Member of any Membership Interests or other interest in the Company in contravention of this Agreement shall be void and ineffective and shall not bind or be recognized by the Company or any other Person. In the event of any Transfer in contravention of this Agreement, to the greatest extent permitted by the Act and other Law, the purported Transferee shall have no right to any profits, losses or Distributions of the Company or any other rights of a Member.

  • Cash Advances An Finance Charge will be imposed on cash advances from the date made or from the first day of billing cycle in which the cash advance is posted to your account, whichever is later, and will continue to accrue until the date of payment.

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