Common use of Erroneous Instructions Clause in Contracts

Erroneous Instructions. Client agrees that to the fullest extent permitted by Applicable Law, Bank will not be liable for any instruction, Payment Order, Transfer, amendment or cancellation thereof, or any loss arising therefrom, erroneously transmitted by Client or anyone authorized or purporting to be authorized by Client hereunder or containing an error in content as provided by Client or anyone authorized or purporting to be authorized by Client hereunder, if such instruction or Payment Order was accepted by Bank in good faith and originated using Access Credentials and Security Procedures assigned to Client, regardless of whether Bank followed the Security Procedures agreed upon herein or any application