Common use of Other Legal Terms Clause in Contracts

Other Legal Terms. A. Rules Governing Your Account This Agreement is governed by federal law and, when not superseded by federal law, by the laws of the State of Indiana, without regard to conflict of law principles. In addition, we are subject to certain federal and state regulations and local clearinghouse rules governing the subject matter of the Agreement. You understand that we must comply with these laws, regulations, and rules. You agree that if there is any inconsistency between the terms of this Agreement and any applicable law, regulation, or rule, the terms of this Agreement will control to the extent any such law, regulation, or rule may be modified by agreement. If any provision of this Agreement is determined to limit the Bank’s liability in a way prohibited by applicable law, the provision will nevertheless be enforced to the fullest extent permitted under that law. We will not be liable for anything we do when following your instructions. In addition, we will not be liable if we do not follow your instructions if we reasonably believe that your instructions would expose us to potential loss or civil or criminal liability, or conflict with customary banking practices. WE WILL NOT BE LIABLE FOR INDIRECT, SPECIAL, CONSEQUENTIAL, EXEMPLARY, OR PUNITIVE DAMAGES REGARDLESS OF THE FORM OF ACTION AND EVEN IF WE HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. IF WE FAIL TO STOP PAYMENT ON AN ITEM, OR PAY AN ITEM BEARING AN UNAUTHORIZED SIGNATURE, FORGED SIGNATURE, OR FORGED ENDORSEMENT OR ALTERATION, OUR LIABILITY, IF ANY, WILL BE LIMITED TO THE FACE AMOUNT OF THE ITEM.

Other Legal Terms. A. Rules Governing Your Account This Agreement is governed by federal law and, when not superseded by federal law, by the laws of the State of Indiana, without regard to conflict of law principles. In addition, we are subject to certain federal and state regulations and local clearinghouse rules governing the subject matter of the Agreement. You understand that we must comply with these laws, regulations, and rules. You agree that if there is any inconsistency between the terms of this Agreement and any applicable law, regulation, or rule, the terms of this Agreement will control to the extent any such law, regulation, or rule may be modified by agreement. If any provision of this Agreement is determined to limit the Bank’s liability in a way prohibited by applicable law, the provision will nevertheless be enforced to the fullest extent permitted under that law. We will not be liable for anything we do when following your instructions. In addition, we will not be liable if we do not follow your instructions if we reasonably believe that your instructions would expose us to potential loss or civil or criminal liability, or conflict with customary banking practices. WE WILL NOT BE LIABLE FOR INDIRECT, SPECIAL, CONSEQUENTIAL, EXEMPLARY, OR PUNITIVE DAMAGES REGARDLESS OF THE FORM OF ACTION AND EVEN IF WE HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. IF WE FAIL TO STOP PAYMENT ON AN ITEM, OR PAY AN ITEM BEARING AN UNAUTHORIZED SIGNATURE, FORGED SIGNATURE, OR FORGED ENDORSEMENT OR ALTERATION, OUR LIABILITY, IF ANY, WILL BE LIMITED TO THE FACE AMOUNT OF THE ITEM. B. Restricting Your Account; Blocking or Delaying Transactions There are many reasons we may decline or prevent transactions to or from your account, but we generally do it to protect you or us, or to comply with legal requirements. We may decline or prevent any or all transactions to or from your account. We may refuse, freeze, reverse or delay any specific withdrawal, payment or transfer of funds to or from your account, or we may remove funds from your account to hold them pending investigation, including in one or more of the following circumstances: i. Your account is involved in any legal or administrative proceeding; ii. We receive conflicting information or instructions regarding account ownership, control or activity; iii. We suspect that you may be the victim of a fraud, scam or financial exploitation, even though you have authorized the transactions; iv. We suspect that any transaction may involve illegal activity or may be fraudulent; v. We are complying in our sole judgment with any federal, state or local law, rule or regulation, including federal asset control and sanction rules and anti-money laundering rules, or with our policies adopted to assure that we comply with those laws, rules or regulations; or vi. We reasonably believe that doing so is necessary to avoid a loss or reduce risk to us. We also may limit cash deposits to, or withdrawals from, your account (or all of your accounts collectively) in a single transaction or total withdrawals or deposits during any period of time, or who may make deposits, in order to reduce risk and/or enhance our efforts to comply with applicable laws, rules and regulations. We will have no liability for any action we take under this section. C. Changes to the Agreement We may change the terms of this Agreement, including fees and features of your account, at any time. If any change would adversely affect you, we will notify you in advance, unless the change is necessary to comply with a legal or regulatory requirement. For certificates of deposit, changes that would adversely affect you will be effective on the next maturity date. We may direct you to a banking center or 0xxxxxxxx.xxx/xxxxxxxxxxx for the content of any changes or the revised agreement unless the law requires a different method. By maintaining your account after the effective date of any change, you agree to the revised agreement.