Common use of Customer and the Bank’s Communications Clause in Contracts

Customer and the Bank’s Communications. The Customer or the Bank, at its discretion, may each submit to the other party a revision of any communication provided for under this Section 29. The revised communication must (i) be sent in its entirety and not in the form of a partial amendment to the communication originally sent, (ii) identify the original communication, (iii) clearly specify that it is a revision of the original or prior communication and (iv) be sent in the format and medium, and be received by the deadline(s) and at the place(s), established by the receiving party. A properly submitted revised communication serves to revoke the original communication. The Customer shall use only the Positive Pay Return Items File that complies with paragraph 29.a.1, provided that either one or both has not been revoked by the Bank in accordance with this paragraph 29.a.v, in the submission of the Positive Pay Return Items File. The Bank shall only use the Positive Pay File and Exception Check Report that complies with paragraph 29.a.1, provided that either one or both has not been revoked by Customer in accordance with paragraph 29.1.v. in the handling of Presented Checks under this Agreement. The Bank shall not be obligated to comply with any communication not received by the Bank, or received in a format or medium, after a deadline, or at a place not specified or agreed to under this Agreement but may instead treat such a communication as though it had not been received. The Bank is not responsible for detecting any Customer error contained in any Positive Pay File or Positive Pay Return Items File sent by the Customer to the Bank.

Customer and the Bank’s Communications. The Customer or the Bank, at its discretion, may each submit to the other party a revision of any communication provided for under this Section 29. The revised communication must (i) be sent in its entirety and not in the form of a partial amendment to the communication originally sent, (ii) identify the original communication, (iii) clearly specify that it is a revision of the original or prior communication and (iv) be sent in the format and medium, and be received by the deadline(s) and at the place(s), established by the receiving party. A properly submitted revised communication serves to revoke the original communication. The Customer shall use only the Check Positive Pay Return Items File that complies with paragraph 29.a.1, provided that either one or both has not been revoked by the Bank in accordance with this paragraph 29.a.v, in the submission of the Check Positive Pay Return Items File. The Bank shall only use the Check Positive Pay File and Exception Check Report that complies with paragraph 29.a.1, provided that either one or both has not been revoked by Customer in accordance with paragraph 29.1.v. in the handling of Presented Checks under this Agreement. The Bank shall not be obligated to comply with any communication not received by the Bank, or received in a format or medium, after a deadline, or at a place not specified or agreed to under this Agreement but may instead treat such a communication as though it had not been received. The Bank is not responsible for detecting any Customer error contained in any Check Positive Pay File or Check Positive Pay Return Items File sent by the Customer to the Bank.