Funds Transfer Instructions. (a) Principal authorizes Custodian to act upon instructions for the transfer of funds from the Account to any other account(s) of Principal or to any third party when such instructions are received from Principal or Principal's Appointed Persons and which have been authenticated by Custodian in accordance with the securities procedures agreed to by Principal as set forth in Subparagraph (b) hereof. (b) Principal agrees to the security procedure(s) offered by Custodian to authenticate, amend, and request cancellation of funds transfer instructions as set forth below. If a funds transfer instruction received by Custodian purports to have been transmitted or authorized by Principal, it will be deemed effective as Principal's instruction if Custodian followed the security procedure(s) set forth below:
Appears in 2 contracts
Sources: Custodian Agreement (MVC Capital, Inc.), Custodian Agreement (Willamette Funds)