Common use of Postdated, Incomplete and Conditional Items Clause in Contracts

Postdated, Incomplete and Conditional Items. You agree to hold us harmless from any and all loss and liability which we may incur due to our inadvertent payment of incomplete or postdated items, items endorsed "without recourse", or conditional items. You agree that we will not have any duty to discover or comply with postdated, incomplete or conditional items. You agree that we may disregard any information on any check or draft other than the amount of the item, any magnetic and encoded information and the signature of the drawer. You agree that we may decline to accept, process, or pay any item or order which, in our estimation, is ambiguous or otherwise unclear in its terms. You also agree that, at our option, we may use our best efforts to resolve any such ambiguity and you agree to release and hold us harmless from any and all loss and liability which we may incur, or which may arise in connection with our attempts to resolve any such ambiguity or our choice not to attempt to resolve such ambiguity.

Postdated, Incomplete and Conditional Items. You agree to hold us harmless from any and all loss and liability which we may incur due to our inadvertent payment of incomplete or postdated items, items endorsed "“without recourse", ” or conditional items. You agree that we will not have any duty to discover or comply with postdated, incomplete or conditional items. You agree that we may disregard any information on any check or draft other than the amount of the item, any magnetic and encoded information and the signature of the drawer, the identity of the drawee bank and the magnetically encoded information, whether or not that information is consistent with any other information on the item. You agree that we may decline to accept, process, process or pay any item or order which, in our estimation, is ambiguous or otherwise unclear in its terms. You also agree that, at our option, we may use our best efforts to resolve any such ambiguity and you agree to release and hold us harmless from any and all loss and liability which we may incur, or which may arise in connection with our attempts to resolve any such ambiguity or our choice not to attempt to resolve such ambiguity.

Postdated, Incomplete and Conditional Items. You agree to hold us harmless from any and all loss and liability which we may incur due to our inadvertent payment of incomplete or postdated items, items endorsed "‘without recourse", ’ or conditional items. You agree that we will not have any duty to discover or comply with postdated, incomplete or conditional items. You agree that we may disregard any information on any check or draft other than the amount of the item, any magnetic and encoded information and the signature of the drawer. You agree that we may decline to accept, process, process or pay any item or order which, in our estimation, is ambiguous or otherwise unclear in its terms. You also agree that, at our option, we may use our best efforts to resolve any such ambiguity and you agree to release and hold us harmless from any and all loss and liability which we may incur, or which may arise in connection with our attempts to resolve any such ambiguity or our choice not to attempt to resolve such ambiguity.