Common use of Postdated Items Clause in Contracts

Postdated Items. Each Authorized Signatory agrees not to issue postdated checks or other items. If postdated checks or other items are issued by any Authorized Signatory, Bank may return them unpaid, or if paid by Bank, prior to date of check or item, in its sole and absolute discretion, Bank is released from and indemnified for, and held harmless from, any and all claims, damages and/or costs, including its reasonable attorney’s fees and costs, related to paying, accepting or certifying such postdated checks and/or other items prior to the date set forth on said check(s) and/or other item(s) unless Authorized Signatory has given notice to the Bank of the postdated item by describing the check with reasonable certainty.