Common use of Exception Checks Clause in Contracts

Exception Checks. Each Business Day on which Bank reviews and processes Checks, Bank will use commercially reasonable efforts to review each Check and to reject any Check that Bank, in its sole discretion, determinates to be ineligible for the RDC Services (each, an “Exception Check”). “Exception Check” includes, but is not limited to, a Check that (i) is illegible or contains MICR data that is not machine- readable, (ii) was previously processed as a Check; or (iii) is drawn on banks located outside the United States and is not payable at or through a bank located within the United States. Bank will notify you of each Exception Check through the PinnBank For Business online service, or other communication channels at Bank's discretion. If you wish to attempt to deposit any Exception Check to your Authorized Account, you shall do so only by depositing the original paper check on which the Exception Check is based or as otherwise agreed between us. Even if Bank does not initially identify a Check as an Exception Check when Bank reviews and processes the Check to which the Exception Check relates, the Check or the substitute check or the alleged substitute check created by Bank from it may nevertheless be returned to Bank because, among other reasons, the paying bank determines that such item or check is illegible or missing an image. Bank's failure to identify an Exception Check shall not preclude or limit the obligation of you to us under Section 4 of Article V above. Subject to Bank's right to identify and reject Exception Checks, Bank shall be deemed to have accepted each Check that is not an Exception Check for deposit to the Authorized Account on the Business Day what Bank processes the Check, provided its Transmission to Bank is prior to the Cut-off Time. In addition, a Check will be deemed to have been deposited at the office where the Authorized Account is maintained.