Common use of ASSIGNMENT OF CLAIM Clause in Contracts

ASSIGNMENT OF CLAIM. To the extent that Customer suffers a loss under this Agreement, and only if Bank is not in any loss or potential loss position, the Bank will assign to the Customer any claim that Bank would have against a depository or collecting bank to recover the loss.

ASSIGNMENT OF CLAIM. To the extent that the Customer suffers a loss under this Positive Pay section of this Agreement, and only if the Bank is not in any loss or potential loss position, the Bank will assign to the Customer any claim that the Bank would have against a depository or collecting bank to recover the loss.