Redemption Draft Returns Clause Samples

Redemption Draft Returns. The Group, on behalf of a Fund, may give the Bank Oral or Written Instructions from time to time to return unpaid redemption drafts of the Fund to the presenting financial institution for any reason, and the Bank shall use reasonable efforts to comply with such Oral or Written Instructions provided that such compliance would not prejudice or impair any rights or privileges of the Bank under prevailing draft return procedures and would not be contrary to prevailing industry rules, procedures, customs or practices. Notwithstanding the foregoing, or any other provision in this Agreement or the Schedules hereto, the Bank (i) may return redemption drafts with unauthorized or missing signatures to the presenting financial institution in accordance with prevailing banking industry draft return procedures, and (ii) shall have no obligation to request Oral or Written Instructions with respect to any redemption drafts.