Common use of Client’s Insurance Obligations Clause in Contracts

Client’s Insurance Obligations. Client acknowledges that, at all times during the term of the Service Description, it shall be Client’s sole responsibility to purchase and maintain insurance against loss or damage to the contents of the Bags, including Cash and including while in a Smart Safe, and while in the possession of Client’s Courier, including Client’s Smart Safe Courier. Bank is not and shall not be considered an insurer of any Bag, Smart Vault, or shipment contents. FEES In addition to the other fees applicable to the Cash Vault and Deposit Services, Client agrees that due to the future uncertainty of fuel supply, allocation and the constant fluctuation in price, Bank may have to institute a fuel surcharge in addition to the contractual charges, based upon prevailing conditions. SECURITY PROCEDURES Client agrees to implement commercially reasonable security procedures (for example, identification credentials, pass codes, pass phrases, challenge questions and/or test keys which may change from time to time) sufficient to satisfy their respective needs to ensure the authenticity of the authorized individual(s) acting on behalf of Client, the Courier and the Provider, and for the protection and transport of Bag(s). Client expressly acknowledges that Bank will not be responsible or liable to any party due to any loss or failure resulting from the existence, lack of existence, or inadequacy of Client and/or the Courier’s security procedures. Client further expressly acknowledges that it has reviewed Client’s security procedures and the Courier’s security procedures and has determined that they are sufficiently commercially reasonable for Client’s intended use of the Cash Vault and Deposit Services, including but not limited to the transportation of Cash. Bank makes no representations or warranties, express or implied, as to the existence or sufficiency of Client’s security procedures or the Courier’s security procedures. UNDER NO CIRCUMSTANCES SHALL BANK BE RESPONSIBLE FOR OR HAVE ANY LIABILITY WITH RESPECT TO ANY ITEMS OR CASH UNTIL THEY ARE ACTUALLY DELIVERED TO AND RECEIPTED BY BANK, INCLUDING DELIVERED TO AND RECEIPTED BY PROVIDER ON BANK’S BEHALF, AT THE DESIGNATED BRANCH LOCATION, AS DESIGNATED BY BANK.