Common use of Credit Union Liability; Indemnity Clause in Contracts

Credit Union Liability; Indemnity. Except for losses caused by our failure to exercise ordinary care or our failure to act in good faith, you agree that we will not be liable for any action or inaction regarding the payment or non-payment of items, collection of items, other withdrawals or the transfer of funds in satisfaction of overdrafts. In this Agreement, “Ordinary care” means observance of banking industry practices that do not vary unreasonably from the general banking practices prevailing in the area we service. Subject to applicable

Credit Union Liability; Indemnity. Except for losses caused by our failure to exercise ordinary care or our failure to act in good faith, you agree that we will not be liable for any action or inaction regarding the payment or non-payment of items, collection of items, other withdrawals withdrawals, or the transfer of funds in satisfaction for the settlement of overdrafts. In this Agreement, “Ordinary care” The term ordinary care means observance of banking financial institution industry practices that which do not vary unreasonably from the general banking financial institution practices prevailing in the area areas we service. Subject to applicable.