How is Financial Institution Name defined in a legal contract?
- Financial Institution Name means the name of the bank or financial organization that is to carry out transactions based on the authority granted by the payer. This entity will continue to carry out transactions until they receive a written termination notice of this authority from the payer. Payments will be deducted from the payer's account within the first ten days of the month the assessment is due. If the payment is returned for any reason, the payer can be terminated from the program and they would be charged an administrative fee. Automatic debit payments will start in the next period after receiving this form. Seen in 3 SEC filings.
- Financial Institution Name means the specific title of the bank or financial organization that is anticipated to process transactions. Seen in 2 SEC filings.
- Financial Institution Name means the precise name of the bank or financial establishment that is given the authority to process a single deduction for the specified amount according to the investment instructions provided. If the debit does not comply with the agreement, the account holder is entitled to certain recourse rights. Seen in 2 SEC filings.
- Financial Institution Name means the exact name of the bank or financial institution that holds the authority to process deductions for any given amount. This process is executed in accordance with investment instructions provided by the account holder. Seen in 1 SEC filing.
Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.
Search EDGAR for 'Definitions of financial institution name' yourself to verify these results. We are always keen to point people to source documents.
Which definition should you use?
🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
Financial Institution Name means the authorized bank executing transactions.
Relevant Contract Types
- Banking Service Agreement
- Investment Advisory Agreement
- Loan Agreement
- Supply Chain Financing Agreement
Relevant Circ*mstances
- Establishing banking services for a business.
- Setting up investments or loans.
- Financing for supply chain operations.
Relevant Sectors
Genie Definition 2
Financial Institution Name means the bank processing single-time deductions as per instructions.
Relevant Contract Types
Relevant Circ*mstances
- Setting up direct debit transactions for automatic payment.
- Authorizing a business to process card payments.
- Specifying investment instructions for financial advisors.
Relevant Sectors
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Financial Institution Name
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Financial Institution Name
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Financial Institution Name means the authorized bank executing transactions
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Financial Institution Name
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