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Common use of Telephone and Telefax Authorization Clause in Contracts

Telephone and Telefax Authorization. (a) Bank may honor telephone or telefax instructions for advances or repayments or for the designation of optional interest rates or the issuance of Letters of Credit given by any one of the individual signers of this Agreement or a person or persons authorized by any one of the individuals signing this Agreement on behalf of Borrower. (b) Advances will be deposited in and repayments will be withdrawn from Borrower's account number 1458126057, or such other accounts of Borrower with Bank as designated in writing by Borrower. (c) Borrower will provide written confirmation to Bank of any telephone or telefax instructions within one business day. If there is a discrepancy and Bank has already acted on the instructions, the telephone or telefax instructions will prevail over the written confirmation. (d) Borrower indemnifies and excuses Bank (including its officers, employees, and agents) from all liability, loss, and costs in connection with any act resulting from telephone or telefax instructions it reasonably believes are made by any individual authorized by Borrower to give such instructions. This indemnity and excuse will survive the termination of this Agreement.

Appears in 3 contracts

Samples: Business Loan Agreement (Hawker Pacific Aerospace), Business Loan Agreement (Hawker Pacific Aerospace), Business Loan Agreement (Hawker Pacific Aerospace)

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Telephone and Telefax Authorization. (a) The Bank may honor telephone or requests for repayment, and telefax instructions requests for advances or repayments or for the designation of optional interest rates or the issuance of Letters letters of Credit credit and repayment of any amounts drawn under letters of credit, given by any one of the individuals authorized to sign loan agreements on behalf of the Borrower, or any other individual signers of this Agreement or a person or persons authorized designated by any one of the individuals signing this Agreement on behalf of Borrowersuch authorized signers. (b) Advances will be deposited in and repayments Repayments will be withdrawn from the Borrower's ’s account number 1458126057, 14878-03783 or such other of the Borrower’s accounts of Borrower with the Bank as designated in writing by the Borrower. (c) Borrower The Bank will provide written confirmation to Bank the Borrower of any transactions made based on telephone or telefax instructions within one business dayinstructions. If there is a The Borrower agrees to notify the Bank promptly of any discrepancy between the confirmation and Bank has already acted on the instructions, the telephone or telefax instructions will prevail over the written confirmationinstructions. (d) The Borrower indemnifies and excuses the Bank (including its officers, employees, and agents) from all liability, loss, and costs in connection with any act resulting from telephone or telefax instructions it the Bank reasonably believes are made by any individual authorized by the Borrower to give such instructions. This indemnity and excuse will survive the termination of this Agreement’s termination.

Appears in 1 contract

Samples: Business Loan Agreement (Global Vacation Group Inc)

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Telephone and Telefax Authorization. (a) The Bank may honor telephone or telefax instructions for advances or repayments or for the designation of optional interest rates or and telefax requests for the issuance of Letters letters of Credit credit or shipside bonds given by any one of the individuals authorized to sign loan agreements on behalf of the Borrower, or any other individual signers of this Agreement or a person or persons authorized designated by any one of the individuals signing this Agreement on behalf of Borrowersuch authorized signers. (b) Advances will be deposited in and repayments will be withdrawn from the Borrower's account number 145812605714585-25065, or such other of the Borrower's accounts of Borrower with the Bank as designated in writing by the Borrower. (c) Borrower The Bank will provide written confirmation to Bank the Borrower of any transactions made based on telephone or telefax instructions within one business dayinstructions. If there is a The Borrower agrees to notify the Bank promptly of any discrepancy between the confirmation and Bank has already acted on the instructions, the telephone or telefax instructions will prevail over the written confirmationinstructions. (d) The Borrower indemnifies and excuses the Bank (including its officers, employees, and agents) from all liability, loss, and costs in connection with any act resulting from telephone or telefax instructions it the Bank reasonably believes are made by any individual authorized by the Borrower to give such instructions. This indemnity and excuse will survive the termination of this Agreement's termination.

Appears in 1 contract

Samples: Business Loan Agreement (Pacific Sunwear of California Inc)

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