Rejection of Entries. The Bank shall have the right to reject any Entry which does not comply with the requirements outlined in this Agreement. The Bank shall have the right to reject an On-Us Entry for any reason for which an Entry may be returned under the Rules. The Bank shall have the right to reject any Entry if the Business Entity has failed to comply with its account balance obligations under Section 13. The Bank shall notify the Business Entity by electronic transmission or in writing of such rejection no later than the business day such Entry would otherwise have been transmitted by the Bank to the Fed, or in the case of an On-Us Entry, its Effective Entry Date. The Bank shall have no liability to the Business Entity by reason of the rejection of any such Entry or the fact that such notice is not given at an earlier time than that provided for herein. In the event that any Entry is rejected by the Fed for any reason, it shall be the sole responsibility of the Business Entity to resubmit such Entry. Should a file be rejected due to an error caused by the Bank, the Bank shall be responsible for resubmitting such file. In such a case, the Business Entity will use its best efforts to supply sufficient information, as required in Section 24, to allow the Bank to recreate the entries for up to five (5) business days after midnight of the settlement date.
Appears in 4 contracts
Samples: Treasury Management Master Agreement, Treasury Management Master Agreement, Treasury Management Master Agreement
