Common use of COUNTERMANDS Clause in Contracts

COUNTERMANDS. Any countermand of payment (commonly called a "stop payment") of a cheque or other negotiable Instrument drawn on the Account must be in writing and signed by the Authorized User who signed the cheque or other negotiable Instrument that is the subject of the countermand, or by some other person(s) duly authorized by the Depositor. On receiving a countermand of payment of a cheque or other negotiable Instrument drawn on the Account, the Credit Union: a) will use reasonable diligence to effect the countermand, but b) will not be liable to the Depositor or any other person by reason of complying with, or failing to comply with, the countermand, whether the Credit Union is negligent, willfully negligent or otherwise. The Depositor hereby agrees to indemnify and save the Credit Union harmless for all liability, costs, damages, and expenses incurred by the Credit Union by reason of it complying with, or failing to comply with, a countermand of payment. This indemnity will enure to the benefit of the Credit Union and will be binding upon the Depositor and the Depositor's successors and assigns.

COUNTERMANDS. Any countermand of payment (commonly called a "stop payment") of a cheque or other negotiable Instrument drawn on the Account must be in writing and signed by the Authorized User who signed the cheque or other negotiable Instrument that is the subject of the countermand, or by some other person(s) duly authorized by the DepositorTrustee. On receiving a countermand of payment of a cheque or other negotiable Instrument drawn on the Account, the Credit Union: a) will use reasonable diligence to effect the countermand, but b) will not be liable to the Depositor Trustee or any other person by reason of complying with, or failing to comply with, the countermand, whether the Credit Union is negligent, willfully negligent or otherwise. The Depositor Trustee hereby agrees to indemnify and save the Credit Union harmless for all liability, costs, damages, and expenses incurred by the Credit Union by reason of it complying with, or failing to comply with, a countermand of payment. This indemnity will enure to the benefit of the Credit Union and will be binding upon the Depositor Trustee and the DepositorTrustee's successors and assigns.

COUNTERMANDS. Any countermand of payment (commonly called a "stop payment") of a cheque or other negotiable Instrument drawn on the Account must be in writing and signed by the Authorized User Depositor who signed the cheque or other negotiable Instrument that is the subject of the countermand, or by some other person(s) duly authorized by the Depositor. On receiving a countermand of payment of a cheque or other negotiable Instrument drawn on the Account, the Credit Union: a) will use reasonable diligence to effect the countermand, but b) will not be liable to the Depositor or any other person by reason of complying with, or failing to comply with, the countermand, whether the Credit Union is negligent, willfully negligent negligent, or otherwise. The Depositor hereby agrees to indemnify and save the Credit Union harmless for all liability, costs, damages, and expenses incurred by the Credit Union by reason of it complying with, or failing to comply with, a countermand of payment. This indemnity will enure to the benefit of the Credit Union and will be binding upon the Depositor and the Depositor's his or her heirs, executors, successors and assigns.