Faulty Information. Bank shall be liable for any losses, other than consequential damages, proximately caused by its honor of a Check that was not properly payable, or its dishonor of a Check that was properly payable, if the honor or dishonor occurred because Bank: (a) should have shown the check on an Exception Check Report but failed to do so; or (b) showed the check on an Exception Check Report but referenced the wrong check number, unless Bank provided Company with timely information that disclosed the error.
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Samples: Internet Banking Agreement, Internet Banking Agreement, Internet Banking Agreement
Faulty Information. The Bank shall be liable for any losses, other than consequential damages, proximately caused by its honor of a Check check that was not properly payable, or its dishonor of a Check check that was properly payable, if the honor or dishonor occurred because the Bank, in accordance with the provisions of section titled Positive Pay Services of this Agreement:
(a) should have shown the check on an Exception Check Report but failed to do so; or (b) showed the check on an Exception Check Report but referenced the wrong check number, unless Bank provided Company with timely information that disclosed the error.
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