Acceptance and Rejection of Payment Orders. We may give you written notice of each Payment Order accepted and executed hereunder. Written notices must be requested and a fee may be assessed. You agree to review such notices within a reasonable time after receipt (which you agree will normally be by the close of business on the day of receipt and never longer than five (5) Banking Days after receipt) and to give us immediate telephonic notice, thereafter confirmed in writing, of any unauthorized, erroneous or improperly executed Payment Order. We reserve the right to reject any Payment Order submitted and agree to give you notice of any such rejection; provided that you have complied with applicable standard procedures referenced in the submission of such Payment Order. Without limiting the generality of the foregoing, we may reject any Payment Order if it is prohibited by OFAC or will it create an overdraft. If we, nonetheless, honor such Payment Order, you shall immediately reimburse us for the amount of the overdraft.
Acceptance and Rejection of Payment Orders. The Bank will give Customer written notice of each Payment Order accepted and executed by it pursuant to this Agreement. Bank reserves the right to reject any Payment Order submitted for any reason, and agrees to give Customer prompt telephonic notice of any such rejection. If Bank's accepts a Payment Order that exceeds Customer's available funds, the Customer shall be liable for the amount so transferred and shall immediately reimburse Bank.
Acceptance and Rejection of Payment Orders. The Bank may give the City written notice of each Payment Order accepted and executed hereunder. Written notices must be requested and a fee may be assessed. The City agrees to review such notices within a reasonable time after receipt (which the City agrees will normally be by the close of business on the day of receipt and never longer than five (5) business days after receipt) and to give the Bank immediate telephonic notice, thereafter confirmed in writing, of any unauthorized, erroneous or improperly executed Payment Order. The Bank reserves the right to reject any Payment Order submitted and agrees to give the City prompt telephonic notice of any such rejection; provided that the City has complied with applicable standard procedures referenced in the submission of such Payment Order. Without limiting the generality of the foregoing, the Bank may reject any Payment Order if it will create an overdraft. If the Bank, nonetheless, honors such Payment Order, the City shall immediately reimburse the Bank for the amount of the overdraft.
