Common use of Cancellation or Amendment by Company Clause in Contracts

Cancellation or Amendment by Company. Company shall have no right to the cancellation or amendment of any Entry after its receipt by Bank. However, Bank shall use reasonable efforts to act on a request by Company for cancellation or amendment of an Entry prior to transmitting it to the ACH Operator or, in the case of an On-Us Entry, prior to Crediting/Debiting a Receiver’s account, provided such request complies with the Security Procedure set forth in the Internet Banking Agreement for cancellation or amendment of Data. Bank shall have no liability if such cancellation or amendment is not effected. Company shall reimburse Bank for any expenses, losses, or damages Bank may incur in effecting or attempting to effect the cancellation or amendment of an Entry.