Corporate Cash Mgmt Agr
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SUNFLOWER BANK, N. A.
CORPORATE CASH MANAGEMENT CONTRACT
Sunflower Bank, N.A., Salina,
the following C~sh Management
City of Sali~a, Kansas
of Jul y , 19~.
The Bank shall perform for the Customer one or more of the
Cash Management related services described in the attached
agreements and specified below, in accordance with the
terms and conditions of this contract and the pertinent
agreements. If the terms of the attached agreements
conflict with the terms of this main contract the terms of
the agreements shall apply.
Kansas ("Bank") enters into
Contract with
("Customer") this ~day
1. Fees. A current schedule of service fees from the
Corporate Cash Management Department or other
appropriate departments of the Bank has been
delivered and received by Customer.
2. Payment of Fees. The fee payable by the Customer will
be either "direct fees" or "indirect fees." Direct
fees are payable monthly and the Bank is authorized to
withdraw the amount specified on the schedule of
service fees from specified Customer account(s).
Indirect fees are payable monthly and chargeable
through the maintenance by the Customer of
compensating collected balances in a specified
account. The compensating collected balance
requirement will be measured by The Bank's Account
Analysis of the Customer's deposit account(s) with the
Bank.
3. Additional Aqreements. This Contract incorporates
the following specified Agreements which govern the
operations between the Bank and the Customer. The
available Agreements are as follows:
Zero Balance A9reement
ACH DebitjCredlt Agreement
Wire Transfer Agreement
Corporate Repurchase Agreement
4. Management Process. The purpose of this service
is to maximize earnings on the Customer's cash
inflows. The process operates under the following
criteria:
x
X
.
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Bank will take the Customer's daily balances and:
1. Deduct all float (uncollected funds)
2. Deduct current Federal Reserve Requirement
3. Deduct all operating charges (checks paid, wires,
etc.)
4. Deduct required compensating balances, and
5. Add all effective credits (ACH, wires, etc)
Such daily balances less the above deductions produce
an excess daily available balance.
This amount is then applied on behalf of the Customer,
by the Bank, to reduce a borrowing position the
Customer may have (a loan) or to invest in overnight
security repurchases (Repo).
If the excess daily available balances are to be
invested in overnight security purchases (Repo), then
the interest rate paid on the repurchase agreement
(Repo) will be a function of the fed funds rates for
that day. Customer repo interest will be calculated
daily and credited to the Customer's account monthly.
Excess balances may be applied to reduce amortized
loans or lines of credit. This may be re-borrowed up
to the pre-approved credit limit when needed.
5. Customer's Records and Information. The Customer will
give the Bank all records necessary to perform the
Corporate Cash Management service(s). The records
will be legible, correct, and complete. All data
processing media supplied by the Customer must be
compatible with Bank's equipment.
6. Customer's Failure to Furnish satisfactory Records and
Information. The Bank's performance is based on the
Bank receiving timely, accurate and complete informa-
tion for each service, in the agreed upon form. If
these requirements are not met by the Customer, the
Bank shall:
a. no longer be bound to the normal delivery schedule
b. not be held accountable for any losses resulting
from the above, or;
c. deliver only that portion of the service which can
be performed with the data available
7. Customer's Dutv to Inspect. The Customer is
responsible to inspect all documentation when received
and to notify the Corporate Cash Management Department
of the Bank immediately of any errors. Customer must
notify the Corporate Cash Management Department of any
I
error(s) within one (1) banking day after receipt of
the material containing an error.
8. Limitation of Liability. The Bank's sole responsi-
"bility for any error is to correct that error,
provided it has been notified on a timely basis as
provided in paragraph number 7. The Bank will not be
liable to the Customer or any other party for any
consequential, compensatory, special or other damages
caused by any error, act, delay, or omission on the
Bank's part.
9. Indemnitv. As long as the Bank has performed its
duties in good faith and with ordinary care, the
Customer shall indemnify and hold the Bank harmless
from any and all claims, damages, losses, liabilities
and cost or expenses, including attorneys' fees, which
relate in any manner to services performed under this
agreement.
10. Termination. This Agreement shall continue unless
terminated by either party with at least 30 days
written notice to the other party.
11. Force Maieure. The Bank shall bear no responsibility
for non-performance of one or more services caused by
such major events beyond our control including, but
not limited to: fire, casualty, breakdown in
equipment, lockout, strike, unavoidable accident, act
of God, riot, war or the enactment, nuclear incident,
issuance or operation of any adverse governmental law,
ruling regulation, order or decree, or emergency that
prevents us from operating normally.
This Agreement will take effect when it has been duly
signed by the authorized officers or representatives of
both the Bank and Customer.
Salina, KS
Customer: City of Salina, Kansas
By: ~~.L?-LJ
Titlet: 1 nance !1Hector
Date: Jul y 8. 1994