Common use of Bank Obligations Clause in Contracts

Bank Obligations. Bank shall have no responsibility for any liability, loss or damage resulting from: (i) payment of any Exception Entry that is unauthorized; (ii) the return of any Exception Entry to the Originator in accordance with this section; or (iii) Company’s failure to meet Bank’s established deadlines. Bank’s failure to report a discrepancy will not discharge Company’s obligation with regard to any Entry, and shall not obligate Bank to return any Entry if it is otherwise authorized. Bank shall not be obligated to comply with any Pay Request or Return Request received in a format or medium, after a deadline, or at a place not permitted under this Agreement but may instead treat such a Pay Request or Return Request as though it had not been received. Bank is not responsible for detecting any Company error contained in any Pay Request or Return Request sent by Company to Bank.

Appears in 4 contracts

Samples: Internet Banking Agreement, Internet Banking Agreement, Internet Banking Agreement

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