Reliance on Identifying Numbers Sample Clauses
The Reliance on Identifying Numbers clause establishes that specific numbers, such as purchase order numbers, invoice numbers, or contract reference numbers, are used to uniquely identify documents or transactions within an agreement. In practice, this means that parties must reference these numbers in their communications, payments, or documentation to ensure accuracy and proper tracking. This clause helps prevent confusion or disputes by ensuring that all parties are referring to the correct and intended documents or transactions, thereby promoting clarity and administrative efficiency.
Reliance on Identifying Numbers. If Secured Party indicates a name and an identifying number for the bank of the person or entity to receive funds transfers out of the Restricted Account, Secured Party and Company understand and agree that Bank may rely on the number Secured Party indicates even if that number identifies a bank different from the bank Secured Party named. If Secured Party indicates a name and an account number for the person or entity to receive funds transfers out of the Restricted Account, Secured Party and Company understand and agree that Bank may rely on the account number Secured Party indicates even if that account number is not the account number for the person or entity who is to receive the transfers.
Reliance on Identifying Numbers. You agree that the Bank may rely on the identifying number (e.g., FEDWIRE number or account number) of any person or entity as instructed in the Transfer Application or Letter of Authorization, be it the Intermediary Bank, Beneficiary's Bank or Beneficiary, even if it identifies a person or entity different from that identified by name. You will be responsible for any inconsistency between the name and identifying number of any such person or entity as set forth in the Transfer Application or Letter of Authorization and will be liable for any loss, liability, expense or damage, including attorney's fees and litigation expenses the Bank may incur as a result of, or in any way connected with, such inconsistency.
Reliance on Identifying Numbers. In executing Payment Orders, OANDA may rely upon identifying or account numbers of a beneficiary, beneficiary's bank or intermediary bank rather than names. Likewise, payment of a Payment Order may be made by a beneficiary's bank on the basis of an identifying or bank account number even if it identifies a person different from the named beneficiary. OANDA shall have no duty to detect any inconsistency between the name and any such number contained in a Payment Order. Accordingly, you are responsible for such inconsistencies and shall hold OANDA harmless from any loss, liability, expense or damage it may incur as a result of such inconsistency, including without limitation, attorneys' fees and expenses of litigation.
Reliance on Identifying Numbers. In executing or otherwise acting on Payment Orders, the Bank shall rely upon identi- fying account or identification numbers of a beneficiary, beneficiary’s bank or intermediary bank rather than names. Likewise, payment of a Payment Order may be made by a beneficiary’s bank on the basis of an identifying or bank account number even if it identifies a person different from the named beneficiary. The Bank shall have no duty to detect any inconsistency between the name and number contained in a Payment Order. Accordingly, the Customer is responsible for such inconsistencies and shall indemnify and hold the Bank harmless from and against any loss, liability, expense or damage it may incur as a result of such inconsistency, including, without limitation, attorneys’ fees and disbursements and expenses of litigation.
Reliance on Identifying Numbers. If Secured Party indicates a name and an identifying number for the bank of the person or entity to receive funds transfers out of the Account, Secured Party and Depositor understand and agree that Bank may rely on the number Secured Party indicates even if that number identifies a bank different from the bank Secured Party named. If Secured Party indicates a name and an account number for the person or entity to receive funds transfers out of the Account, Secured Party and Depositor understand and agree that Bank may rely on the account number Secured Party indicates even if that account number is not the account number for the person or entity who is to receive the transfers. Notwithstanding the foregoing, and solely as between Depositor and Secured Party, any such identification by Secured Party shall not impact the application of such funds as required by the terms of the security agreement and other loan documents evidencing the Depositor’s debt to Secured Party
Reliance on Identifying Numbers. If the Concentration Account Servicer indicates a name and an identifying number for the Concentration Account Bank of the person or entity to receive funds transfers out of the Accounts, the parties understand and agree that the Concentration Account Bank may rely on the number the Concentration Account Servicer indicates even if that number identifies a bank different from the bank the Concentration Account Servicer named. If the Concentration Account Servicers indicate a name and an account number for the person or entity to receive funds transfers out of the Accounts, the parties understand and agree that the Concentration Account Bank may rely on the account number the Concentration Account Servicer indicates even if that account number is not the account number for the person or entity who is to receive the transfers.
Reliance on Identifying Numbers. If Control Party indicates a name and an identifying number for the bank of the person or entity to receive funds transfers out of the Account, Control Party and Depositor understand and agree that Bank may rely on the number Control Party indicates even if that number identifies a bank different from the bank Control Party named. If Control Party indicates a name and an account number for the person or entity to receive funds transfers out of the Account, Control Party and Depositor understand and agree that Bank may rely on the account number Control Party indicates even if that account number is not the account number for the person or entity who is to receive the transfers. Notwithstanding the foregoing, and solely as between Depositor and Control Party, any such identification by Control Party shall not impact the application of such funds as required by the terms of the security agreement and other loan documents evidencing the Depositor’s debt to Control Party.
Reliance on Identifying Numbers. If the financial institution ("ODFI") initiating an ACH Debit out of the Collection Account indicates a name and an identifying number for the financial institution ("RDFI") of the person or entity to receive the ACH Debit transfer, Lender and Company understand and agree that Bank may rely on the number indicated by the ODFI even if that number identifies an RDFI different than the one that has been named. If the ODFI indicates a name and an account number for the person or entity to receive the ACH Debit transfer, Lender and Company understand and agree that Bank may rely on the indicated account number even if that number is not the account number for the person or entity who is to receive the transfer.