Common use of Rightful Payment and Dishonor Clause in Contracts

Rightful Payment and Dishonor. If the Bank honors a Presented Check that is not submitted on the Positive Pay Return Items File, such honor shall be rightful, and the Customer waives any right it may have to assert that the Presented Check was not properly payable under Section 4- 401. If the Bank honors a Presented Check that is listed on a Positive Pay File, such honor shall be rightful, and the Customer waives any right it may have to assert that the Presented Check was not properly payable under Section 4- 401. If the Bank dishonors a Presented Check that is listed on the Positive Pay Return Items File, the dishonor shall be rightful, and the Customer waives any right he or she may have to assert that the dishonor was wrongful under Section 4- 402. The Customer agrees that the Bank exercises ordinary care whenever it rightfully pays or returns a Presented Check consistent with the provisions of the Agreement.

Rightful Payment and Dishonor. If the Bank honors a Presented Check that is listed on an Exception Items Report but that is not submitted on the Positive Pay Return Items File, such honor shall be rightful, and the Customer waives you waive any right it you may have to assert that the Presented Check was not properly payable under Section 4- 4014 -401. If the Bank honors a Presented Check that is listed on a Positive Pay an Issued Checks File, such honor shall be rightful, and the Customer waives you waive any right it you may have to assert that the Presented Check was not properly payable under Section 4- 4014 -401. If the Bank dishonors a Presented Check that is listed on the Positive Pay Return Items File, the dishonor d ishonor shall be rightful, and the Customer waives you waive any right he or she you may have to assert that the dishonor was wrongful under Section 4- 4024 -402. The Customer agrees You agree that the Bank exercises ordinary care whenever it rightfully pays or returns a Presented Check consistent with the provisions of the this Agreement.