Common use of Limited Obligation to Execute; Insufficient Funds Clause in Contracts

Limited Obligation to Execute; Insufficient Funds. The Bank is not obligated to honor, execute or accept any Payment Order. If the Bank is otherwise entitled to reject a Payment Order on the basis of the account not containing sufficient funds, the Bank may, but is not obligated to: (a) create an overdraft in the account; or (b) transfer funds from another account to the extent of the deficiency.

Limited Obligation to Execute; Insufficient Funds. The Bank is not obligated to honor, execute or accept any Payment Order. If the Bank is otherwise entitled to reject a Payment Paymen t Order on the basis of the account not containing sufficient funds, the Bank may, but is not obligated to: (a) create an overdraft in the account; or (b) transfer funds from another account to the extent of the deficiency.

Limited Obligation to Execute; Insufficient Funds. ‌ The Bank is not obligated to honor, execute or accept any Payment Order. If the Bank is otherwise entitled to reject a Payment Order on the basis of the account not containing sufficient funds, the Bank may, but is not obligated to: (a) create an overdraft in the account; or (b) transfer funds from another account to the extent of the deficiency.