Common use of Telephonic Instructions Clause in Contracts

Telephonic Instructions. Northern shall be deemed to have received instructions (“Instructions”) from Goldman upon receipt of telephonic Instructions given by one or more persons who have been authorized pursuant to Section 4.06 by a general partner of Goldman to give the particular class of Instructions in question. Northern shall verify all telephonic Instructions by telephoning as soon as practicable a person that is so authorized to give such Instructions other than the authorized person who initiated such Instructions, except in the case of so-called “repetitive transfers” where the identity of the transferor and the identity and bank account of the transferee shall have been communicated to Northern in an Instruction given by one or more persons who have been authorized by a general partner of Goldman to give such class of Instructions. In cases where verification is required (i.e., those situations not involving such “repetitive transfers”) Northern shall not be deemed to have received a telephonic Instruction until such Instruction has been so verified.

Telephonic Instructions. Northern shall be deemed to have received ----------------------- instructions (“"Instructions”") from Goldman upon receipt of telephonic Instructions given by one or more persons who have been authorized pursuant to Section 4.06 by a general partner of Goldman to give the particular class of Instructions in question. Northern shall verify all telephonic Instructions by telephoning as soon as practicable a person that is so authorized to give such Instructions other than the authorized person who initiated such Instructions, except in the case of so-called “"repetitive transfers” " where the identity of the transferor and the identity and bank account of the transferee shall have been communicated to Northern in an Instruction given by one or more persons who have been authorized by a general partner of Goldman to give such class of Instructions. In cases where verification is required (i.e., those situations not involving such “"repetitive transfers”") Northern shall not be deemed to have received a telephonic Instruction until such Instruction has been so verified.