Common use of Bank Liability Clause in Contracts

Bank Liability. BANK SHALL NOT BE RESPONSIBLE OR LIABLE FOR ANY ACTION TAKEN BY BANK (OR THE RESULTS THEREOF), WHICH IS AUTHORIZED BY THIS AGREEMENT. BANK MAKES NO WAR- RANTIES EXPRESS, IMPLIED OR STATUTORY IN CONNECTION WITH THIS AGREEMENT AND, WITHOUT LIMITING THE FOREGOING, BANK DISCLAIMS ALL WARRANTIES OF MER- CHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. BANK MAY UTILIZE SYSTEMS OF OTHERS, INCLUDING, WITHOUT LIMITATION, CARD ASSOCIATIONS AND PROCESSORS. BANK SHALL NOT BE RESPONSIBLE OR LIABLE FOR ANY INFORMATION PROVIDED BY OTHERS OR FOR THE USE OF ANY SYSTEM OR EQUIPMENT OF BANK OR OTHERS OR FOR ANY CIRCUMSTANCES BEYOND ITS CONTROL. IN NO EVENT SHALL BANK BE LIABLE FOR LOST PROFITS, CONSEQUENTIAL, SPECIAL, PUNITIVE, EXEMPLARY, INCIDENTAL OR SIMILAR DAMAGES EVEN IF BANK HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. THE SOLE AND EXCLUSIVE LIABILITY OF BANK AND REMEDY OF MERCHANT HEREUNDER SHALL BE GENERAL MONEY DAMAGES FOR BANK’S WILLFUL MISCONDUCT NOT TO EXCEED THE AMOUNT OF FEES, WHICH BANK HAS CHARGED, ON THE ITEM OR FOR THE SERVICE, SUBJECT TO CLAIM OR DISPUTE, REGARDLESS OF THE CHARACTERIZATION OF SUCH CLAIM OR ACTION. BANK SHALL HAVE NO LIABILITY FOR ANY TAXES ARISING UNDER THIS AGREEMENT (WHICH LIABILITY WILL BE THAT OF MERCHANT), OTHER THAN TAXES BASED ON BANK’S INCOME.

Bank Liability. BANK SHALL NOT BE RESPONSIBLE OR LIABLE FOR ANY ACTION TAKEN BY BANK (OR THE RESULTS THEREOF), ) WHICH IS AUTHORIZED BY THIS AGREEMENT. BANK MAKES NO WAR- RANTIES GUARANTIES EXPRESS, IMPLIED OR STATUTORY IN CONNECTION WITH THIS AGREEMENT AND, AND WITHOUT LIMITING THE FOREGOING, BANK DISCLAIMS ALL WARRANTIES OF MER- CHANTABILITY MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. BANK MAY UTILIZE SYSTEMS OF OTHERS, INCLUDING, WITHOUT LIMITATION, INCLUDING CARD ASSOCIATIONS AND PROCESSORSASSOCIATIONS. BANK SHALL NOT BE RESPONSIBLE OR LIABLE FOR ANY INFORMATION PROVIDED BY OTHERS OR FOR THE USE OF ANY SYSTEM OR EQUIPMENT OF BANK OR OTHERS OR FOR ANY CIRCUMSTANCES BEYOND ITS CONTROL. IN NO EVENT BANK SHALL BANK NOT BE LIABLE FOR LOST PROFITS, CONSEQUENTIAL, SPECIAL, PUNITIVE, EXEMPLARY, EXEMPLARY OR INCIDENTAL OR SIMILAR DAMAGES EVEN IF BANK HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. THE SOLE AND EXCLUSIVE LIABILITY OF BANK AND REMEDY OF MERCHANT HEREUNDER SHALL BE GENERAL MONEY DAMAGES FOR BANK’S WILLFUL MISCONDUCT NOT TO EXCEED THE AMOUNT OF FEES, WHICH BANK HAS CHARGED, ON THE ITEM OR FOR THE SERVICE, SUBJECT TO CLAIM OR DISPUTE, REGARDLESS OF THE CHARACTERIZATION OF SUCH CLAIM OR ACTION. BANK SHALL HAVE NO LIABILITY FOR ANY TAXES ARISING UNDER THIS AGREEMENT (WHICH LIABILITY WILL BE THAT OF MERCHANT), OTHER THAN TAXES BASED ON BANK’S INCOME.