Common use of Positive Pay Clause in Contracts

Positive Pay. If Depositor and Bank have entered into any agreement relating in any way to positive pay services, the agreements, terms and conditions and disclosures are incorporated herein for all purposes. ATM OR DEBIT CARD: Subject to the Order of Payment provision above, each Authorized Signatory agrees and acknowledges that any use of an ATM or Debit Card will immediately reduce the available funds in this Account by at least the amount communicated, electronically or otherwise, to Bank, whether communicated as a withdrawal, transfer to another account, completed vendor transaction, authorized administrative hold for payment of a pending or future vendor transaction, or any other transaction, however structured and/or designated. Bank has an absolute right to rely on the information electronically or otherwise communicated to Bank regarding any use or the attempted use of an ATM or Debit Card, and Bank has no duty or obligation to make any inquiry regarding the authority of the user or the accuracy of any information communicated to Bank regarding any ATM or Debit Card transaction. PREPAID BANK CARDS: If Depositor and Bank have entered into any agreement relating in any way to Prepaid Bank Cards, the Agreements, terms and conditions and disclosures relating to any and all Prepaid Bank’s and Payroll Cards issued by Bank are incorporated herein for all purposes.