Common use of Rejection of Entries Clause in Contracts

Rejection of Entries. The Bank may reject any Entry for any reason, and shall notify you of such rejection by telephone, electronic transmission, or by United States mail, either of which shall be considered commercially reasonable. The Bank shall not be liable to you for the rejection of any Entry, for your non-receipt of a notice given to you, or for the failure to give notice of rejection at an earlier time than provided for herein. The Bank shall not be required to pay you interest on a rejected Entry for the period from rejection to the Entry to your receipt of the notice of rejection.

Rejection of Entries. The Bank may reject any Entry for any reason, and shall notify you of such rejection by telephone, electronic transmission, or by United States mail, either all of which shall be considered commercially reasonable. The Bank shall not be liable to you for the rejection of any Entry, for your non-receipt of a notice given to you, or for the failure to give notice of rejection at an earlier time than provided for herein. The Bank shall not be required to pay you interest on a rejected Entry for the period from rejection to the Entry to your receipt of the notice of rejection.