Common use of Correspondents Clause in Contracts

Correspondents. Any act, error, neglect, default, insolvency or failure in business of any of your correspondents, or of correspondents of your correspondents except that any such correspondent shall be liable, if at all, solely for its own bad faith or gross negligence, or if and solely to the extent required by law and not disclaimable, for its own negligence; (xi)

Correspondents. Any act, error, neglect, default, insolvency or failure in business of any of your correspondents, or of correspondents of your correspondents except that any such correspondent shall be liable, if at all, solely for its own bad faith or gross negligence, or if and solely to the extent required by law and not disclaimable, for its own negligence; (xi)) INVALID INSTRUCTIONS. Any consequence resulting from the