Failure to Notify; Liability Exceptions Clause Samples

Failure to Notify; Liability Exceptions. Government Entity shall immediately notify U.S. Bank by telephone at the number provided herein at Section V. S of any of the following: (i) Termination of employment of any Cardholder; (ii) Any lost or stolen Card for which the Government Entity has liability; (iii) Any compromised Account for which the Government Entity has liability; or (iv) Any compromised information regarding Cards, Accounts or other sensitive data including, but not limited to, Account numbers, personal identification numbers, passwords, or Cardholder information. Government Entity shall provide sufficient information as may be requested by U.S. Bank for U.S. Bank to act on such notifications. Failure of Government Entity to provide notification may result in Government Entity’s liability to pay for all Transactions on such Cards and/or Accounts notwithstanding any liability option specified in Schedule 1. Liability is limited to period of time from when notification should have been received to when notification is actually received and only for those Transactions that