Common use of FINES OR PENALTIES Clause in Contracts

FINES OR PENALTIES. Client will reimburse Bank for any fines or penalties (and any associated costs, including reasonable attorneys’ fees and costs) imposed on or assessed against Bank by any Federal Reserve Bank, any network operator, any state or federal regulatory agency or other US or foreign governmental body, or any clearinghouse or other third party having oversight or rulemaking authority over transactions facilitated using the Services, when the fine, penalty or other expense is caused by or related to Client’s data or use of the Services. Such amounts shall be immediately due and payable by Client. Client’s obligation to pay Bank remains immediately due and payable whether or not the fine or penalty was imposed or assessed in accordance with any requirements of the Rules or Laws or any laws applicable to any party other than Bank and notwithstanding Bank or Client may have a claim against another for breach of the same.