FAILURE TO MAKE TRANSFERS Clause Samples

The "Failure to Make Transfers" clause defines the consequences and procedures that apply when a party does not complete a required transfer of funds, assets, or property as stipulated in the agreement. Typically, this clause outlines the steps the non-defaulting party may take, such as issuing a notice of default, imposing penalties, or seeking remedies like interest on overdue amounts. Its core practical function is to ensure accountability and provide a clear process for addressing missed transfers, thereby reducing uncertainty and protecting the interests of the parties involved.
FAILURE TO MAKE TRANSFERS. If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages up to the value of the transfer. However, there are some exceptions. We will not be liable, for instance: 1. If, through no fault of ours, you do not have enough money in your account to make the transfer; 2. If the transfer will go over the credit limit on your Overdraft Agreement; 3. If the system was not working properly; 4. If there is a dispute about the amount to be paid or transferred, or we have been legally ordered to pay to or hold the money in your account for someone else; 5. If a withdrawal would consist of money deposited in the form of a check or other order and is not yet available for withdrawal; 6. If you have told us that your password was lost or stolen; 7. If, in the case of a preauthorized credit or debit to your account, the correct amount, or we do not have the required authorization to perform the transaction; 8. If circumstances beyond our control (such as fire, flood, or natural disaster) prevent the transfer, despite reasonable precautions and efforts we have taken. 9. Other exceptions may be stated in our stop payment agreement with you.
View SourceView Similar (2)
FAILURE TO MAKE TRANSFERS. If we do not complete a transfer as requested, we will be liable for losses or damages. However, there are some exceptions. We will NOT be liable if: • Through no fault of ours, you do not have enough money in your account to make the transfer; or • The transfer would go over the credit limit on your overdraft line; or • The terminal/system was not working properly and you knew about the breakdown when you started the transfer; or • Circumstances beyond our control prevented the transfer, despite reasonable precautions that we have taken. • There may be other exceptions stated in our account agreements and/or loan agreements with you. If you fail to log in three (3) consecutive times the system will lock you out for twenty-four (24) hours. Call 920-652- 3100 during regular business hours to have your password reset sooner. The Services of Bank First are available to you for your convenience 24 hours a day, 7 days per week. However, due to system maintenance, some or all the Services may be down. Our scheduled maintenance window is every Sunday morning between midnight and 4:00 a.m. CST.
View SourceView Similar (2)
FAILURE TO MAKE TRANSFERS. If we do not complete a transfer as requested, we will be liable for losses or damages. However, there are some exceptions. We will NOT be liable if:
View Source

Related to FAILURE TO MAKE TRANSFERS

  • Liability for Failure to Make Transfers If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will not be liable, for instance:

  • Our Liability for Failure to Make Transfers If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will not be liable, for instance:

  • Failure to Make Payments If the Company fails to make any payment of interest on this Subordinated Note when such interest becomes due and payable and such default continues for a period of 30 days, or if the Company fails to make any payment of the principal of this Subordinated Note when such principal becomes due and payable, the Company will, upon demand of the Trustee, pay to the Trustee, for the benefit of the Holder, the whole amount then due and payable with respect to this Subordinated Note, with interest upon the overdue principal, any premium and, to the extent permitted by applicable law, upon any overdue installments of interest at the rate or respective rates, as the case may be, provided for or with respect to this Subordinated Note or, if no such rate or rates are so provided, at the rate or respective rates, as the case may be, of interest borne by this Subordinated Note. Upon an Event of Default, the Company may not declare or pay any dividends or distributions on, or redeem, purchase, acquire, or make a liquidation payment with respect to, any of the Company’s capital stock, make any payment of principal or interest or premium, if any, on or repay, repurchase or redeem any debt securities of the Company that rank equal with or junior to this Subordinated Note, or make any payments under any guarantee that ranks equal with or junior to this Subordinated Note, other than: (i) any dividends or distributions in shares of, or options, warrants or rights to subscribe for or purchase shares of, any class of Company’s common stock; (ii) any declaration of a dividend in connection with the implementation of a shareholders’ rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto; (iii) as a result of a reclassification of Company’s capital stock or the exchange or conversion of one class or series of Company’s capital stock for another class or series of Company’s capital stock; (iv) the purchase of fractional interests in shares of Company’s capital stock in accordance with the conversion or exchange provisions of such capital stock or the security being converted or exchanged; or (v) purchases of any class of Company’s common stock related to the issuance of common stock or rights under any benefit plans for Company’s directors, officers or employees or any of Company’s dividend reinvestment plans.

  • CREDIT UNION LIABILITY FOR FAILURE TO MAKE TRANSFERS If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we may be liable for your losses or damages. However, we will not be liable for direct or consequential damages in the following events:

  • Failure to Make Payment In the event a participating Authorized User fails to make payment to the Contractor for Products delivered, accepted and properly invoiced, within thirty calendar days of such delivery and acceptance, the Contractor may, upon five business days advance written notice to both the Commissioner and the Authorized User’s purchasing official, suspend additional shipments of Product or provision of services to such entity until such time as reasonable arrangements have been made and assurances given by such entity for current and future Contract payments.