Authorization and Processing Clause Samples
The 'Authorization and Processing' clause establishes the requirement for one party to obtain permission from the other to process certain information or perform specific actions. In practice, this clause typically applies to the handling of personal data, financial transactions, or other sensitive operations, ensuring that such activities are only carried out with explicit consent or approval. Its core function is to protect the interests of the parties by preventing unauthorized actions and ensuring compliance with legal or contractual obligations regarding data or transaction processing.
Authorization and Processing a. You represent and warrant that you are either the sole owner or a joint owner of the Eligible Transaction Account and the External Account and that you have all necessary legal right, power and authority to transfer funds between the Eligible Transaction Account and the External Account. If you are a joint owner of the Eligible Transaction Account, External Account, or both, then you represent and warrant that (i) you have been authorized by all of the other joint owners to operate such Accounts without their consent (including without limitation to withdraw or deposit any amount of funds to such Accounts or to even withdraw all funds from such Accounts); and (ii) we may act on your instructions regarding such Accounts without liability to such other joint owners. Further, you represent and warrant that the External Account is located in the United States.
b. When we receive a Transfer Instruction from you, you authorize us to (i) debit your Eligible Transaction Account and remit funds on your behalf to the External Account designated by you and to debit your applicable Account as described below in Section 9 (Account to Account Transfer Service Fees and Additional Charges); or, as applicable, to (ii) credit your Eligible Transaction Account and remit funds on your behalf from the External Account designated by you and to debit your applicable Account as described below in Section 9 (Account to Account Transfer Service Fees and Additional Charges). You also authorize us to reverse a transfer from the applicable Account if the debit is returned from the other Account in the transaction for any reason, including but not limited to nonsufficient funds.
c. We will use reasonable efforts to make all your transfers properly. However, we shall incur no liability if we are unable to complete any transfers initiated by you because of the existence of any one or more of the following circumstances:
1. If, through no fault of ours, the Eligible Transaction Account or External Account does not contain sufficient funds to complete the transfer or the transfer would exceed the credit limit of your overdraft account;
2. The Account to Account Transfer Service is not working properly and you know or have been advised by us about the malfunction before you execute the transaction;
3. The transfer is refused as described in Section 10 (Refused Transfers) below;
4. You have not provided us with the correct information, including but not limited to the correct Eligible Tra...
Authorization and Processing. ▪ When we receive an Internal Transfer Instruction from you, you authorize us to debit your Eligible Transfer From Account and credit those funds to the Eligible Transfer To Account you designate in your instruction. The Eligible Transfer To Account must be owned by you, or by another recipient you designate. ▪ Same-Day One-Time Internal Transfer o The Same-Day One-Time Internal Transfer feature allows you initiate a One-Time same- day transfer between your Eligible Transfer From deposit and HELOC accounts; or from your eligible Transfer From deposit account to another recipient’s Eligible Transfer To deposit account at the Bank. o Funds will be transferred immediately. ▪ Scheduled Internal Transfer o The Scheduled Internal Transfer feature allows you to schedule a One-Time or Recurring transfer between your eligible deposit accounts at the Bank. A Scheduled Internal Transfer instruction may be Future Dated for up to one-year and, if it is a Recurring instruction, it will continue until the scheduled transfer instruction end-date is reached, or you cancel the Scheduled Internal Transfer.
Authorization and Processing a. You represent and warrant that you are either the sole owner or a joint owner of the Eligible Transaction Account and the External Account and that you have all necessary legal right, power and authority to transfer funds between the Eligible Transaction Account and the External Account. If you are a joint owner of the Eligible Transaction Account, External Account, or both, then you represent and warrant that (i) you have been authorized by all of the other joint owners to operate such Accounts without their consent (including without limitation to withdraw or deposit any amount of funds to such Accounts or to even withdraw all funds from such Accounts); and (ii) we may act on your instructions regarding such Accounts without liability to such other joint owners. Further, you represent and warrant that the External Account is located in the United States.
b. When we receive a Transfer Instruction from you, you authorize us to (i) debit your Eligible Transaction Account and remit funds on your behalf to the External Account designated by you and to debit your applicable Account as described below in Section 9 (Account to Account Transfer Service Fees and Additional Charges); or, as applicable, to
Authorization and Processing a. You represent and warrant that you are either the sole owner or a joint owner of the Eligible Transaction Account and the External Account and that you have all necessary legal right, power and authority to transfer funds between the Eligible Transaction Account and the External Account. If you are a joint owner of the Eligible Transaction Account, External Account, or both, then you represent and warrant that (i) you have been authorized by all of the other joint owners to operate such Accounts without their consent (including without limitation to withdraw or deposit any amount of funds to such Accounts or to even withdraw all funds from such Accounts); and (ii) we may act on your instructions regarding such Accounts without liability to such other joint owners. Further, you represent and warrant that the External Account is located in the United States.
b. You may initiate (1) a one-time Transfer Instruction for which processing shall be initiated immediately, (2) a one- time Transfer Instruction for which processing shall be initiated at a later specified date up to one (1) year, and (3) a recurring series of Transfer Instructions for which processing shall be initiated on the specified dates. Options
Authorization and Processing. You represent and warrant that you are either the sole owner or a joint owner of the Eligible Transaction Account and the External Account and that you have all necessary legal right, power and authority to transfer funds between the Eligible Transaction Account and the External Account. If you are a joint owner of the Eligible Transaction Account, External Account, or both, then you represent and warrant that (i) you have been authorized by all of the other joint owners to operate such Accounts without their consent (including without limitation to withdraw or deposit any amount of funds to such Accounts or to even withdraw all funds from such Accounts); and (ii) we may act on your instructions regarding such Accounts without liability to such other joint owners. Further, you represent and warrant that the External Account is located in the United States.
Authorization and Processing. ▪ When we receive an Internal Transfer Instruction from you, you authorize us to immediately debit your Eligible Transfer From Account and credit those funds to the Eligible Transfer To Account you designate in your instruction. The Eligible Transfer To Account must be owned by you, or by another recipient you designate. ▪ We will use reasonable efforts to make all your transfers properly. However, we shall incur no liability if we are unable to complete any transfers initiated by you because of the existence of any one or more of the following circumstances: o If, through no fault of ours, the Eligible Transfer From Account does not contain sufficient funds to complete the transfer; o The Transfer From and/or Transfer To Account(s) does not meet the ownership criteria, is closed, or contains restrictive codes that prevent us from fulfilling the Internal Transfer request; o The Internal Transfer Service is not working properly and you know or have been advised by us about the malfunction before you execute the transaction; o You have not provided us with the correct information, including but not limited to the correct Eligible To Account information; and/or, o Circumstances beyond our control (such as, but not limited to, fire, flood, network or system down time, issues with the financial institution(s), or interference from an outside force) prevent the proper execution of the transfer and we have taken reasonable precautions to avoid those circumstances. ▪ It is your responsibility to ensure the accuracy of any information that you enter into the Internal Transfer Service, and for informing us as soon as possible if you become aware that this information is inaccurate. We will make a reasonable effort to stop or recover a transfer made to the wrong Account once informed, but we do not guarantee such recovery and will bear no responsibility or liability for damages resulting from incorrect information entered by you.
Authorization and Processing. When we receive an Internal Transfer Instruction from you, you authorize us to debit your Eligible Transfer From Account and credit those funds to the Eligible Transfer To Account you designate in your instruction. The Eligible Transfer To Account must be owned by you, or by another recipient you designate. Same-Day One-Time Internal Transfer o The Same-Day One-Time Internal Transfer feature allows you initiate a One-Time same- day transfer between your Eligible Transfer From deposit and HELOC accounts; or from your eligible Transfer From deposit account to another recipient’s Eligible Transfer To deposit account at the Bank. o Funds will be transferred immediately. Scheduled Internal Transfer o The Scheduled Internal Transfer feature allows you to schedule a One-Time or Recurring transfer between your eligible deposit accounts at the Bank. A Scheduled Internal Transfer instruction may be Future Dated for up to one-year and, if it is a Recurring instruction, it will continue until the scheduled transfer instruction end-date is reached, or you cancel the Scheduled Internal Transfer.
Authorization and Processing a. You represent and warrant that you are either the sole owner or a joint owner of the Eligible Transaction Account and the External Account and that you have all necessary legal right, power and authority to transfer funds between the Eligible Transaction Account and the External Account. If you are a joint owner of the Eligible Transaction Account, External Account, or both, then you represent and warrant that (i) you have been authorized by all of the other joint owners to operate such Accounts without their consent (including without limitation to withdraw or deposit any amount of funds to such Accounts or to even withdraw all funds from such Accounts); and (ii) we may act on your instructions regarding such Accounts without liability to such other joint owners. Further, you represent and warrant that the External Account is located in the United States.
b. You may initiate (1) a one-time Transfer Instruction for which processing shall be initiated immediately, (2) a one-time Transfer Instruction for which processing shall be initiated at a later specified date up to one (1) year, and (3) a recurring series of Transfer Instructions for which processing shall be initiated on the specified dates. Options (2) and (3) above are not available for Instant Transfers. Further details about each of these options can be found on the Site. When we receive a Transfer Instruction from you, you authorize us to (i) debit your Eligible Transaction Account and remit funds on your behalf to the External Account designated by you and to debit your applicable Account as described below in Section 9 (Account to Account Transfer Service Fees and Additional Charges); or, as applicable, to