Responsibility for the Detection of Errors and Unauthorized Payment Orders. Except as may be provided, the Custodian is not responsible for detecting any Company error contained in any payment order sent by the Company to the Custodian. In the event that the Company's payment order to the Custodian either (i) identifies the beneficiary by both a name and an identifying or bank account number and the name and number identify different persons or entities, or (ii) identifies any bank by both a name and an identifying number and the number identifies a person or entity different from the bank identified by name, execution of the payment order, payment to the beneficiary, cancellation of the payment order or actions taken by any bank in respect of such payment order may be made solely on the basis of the number. The Custodian shall not be liable for interest on the amount of any payment order that was not authorized or was erroneously executed unless the Company so notifies the Custodian within thirty (30) business days following the Company's receipt of notice that such payment order had been processed. If a payment order in the name of the Company and accepted by the Custodian was not authorized by the Company, the liability of the parties will be governed by the applicable provisions of UCC 4A.
Responsibility for the Detection of Errors and Unauthorized Payment Orders. The Lender hereby acknowledges that the Agent will act on the basis of the Beneficiary Account Number given above. The Agent shall not be responsible for confirming that the Beneficiary Name owns the Beneficiary Account Number specified. The Agent shall not be liable for interest on the amount of any Payment Order that was not authorized or was erroneously executed unless the Lender so notifies the Agent within thirty (30) business days following the Lender’s receipt of notice that such Payment Order had been processed. If a Payment Order was not authorized by the Lender or interest on any amount is payable by the Agent to the Lender, the liability of the parties will be governed by the applicable provisions of Article 4A of the Uniform Commercial Code of the State of New York. Notwithstanding anything in this Funds Transfer Standing Instruction and the SLA to the contrary, the Agent shall in no event be liable for any consequential or special damages under this Funds Transfer Standing Instruction, even if the Agent has been advised of the possibility of such damages.
Responsibility for the Detection of Errors and Unauthorized Payment Orders. Except as may be provided, the Custodian is not responsible for detecting any Trust error contained in any payment order sent by the Trust or an Authorized Person to the Custodian. In the event that the Trust’s or Authorized Person’s payment order to the Custodian either (i) identifies the beneficiary by both a name and an identifying or bank account number and the name and number identify different persons or entities, or (ii) identifies any bank by both a name and an identifying number and the number identifies a person or entity different from the bank identified by name, the Custodian shall seek further Instructions from the Trust when and if it becomes aware or has reason to know of the discrepancy. If the Custodian is not aware and does not have reason to know of the discrepancy or does not receive further Instructions within a reasonable time after they are sought, execution of the payment order, payment to the beneficiary, cancellation of the payment order or actions taken by any bank in respect of such payment order may be made solely on the basis of the number. The Custodian shall not be liable for interest on the amount of any payment order that was not authorized or was erroneously executed unless the Trust so notifies the Custodian within thirty (30) Business Days following the Trust’s receipt of notice that such payment order had been processed. If a payment order in the name of a Fund and accepted by the Custodian was not authorized by the Trust or Authorized Person, the liability of the parties will be governed by the applicable provisions of UCC 4A.
Responsibility for the Detection of Errors and Unauthorized Payment Orders. Except as may be provided, Bank is not responsible for detecting any Fund error contained in any payment order sent by Customer to Bank. In the event that Customer’s payment order to Bank either (i) identifies the beneficiary by both a name and an identifying or bank account number and the name and number identify different persons or entities, or (ii) identifies any bank by both a name and an identifying number and the number identifies a person or entity different from the bank identified by name, execution of the payment order, payment to the beneficiary, cancellation of the payment order or actions taken by any bank in respect of such payment order may be made solely on the basis of the number. Bank shall not be liable for interest on the amount of any payment order that was not authorized or was erroneously executed unless Customer so notifies Bank within thirty (30) business days following Customer’s receipt of notice that such payment order had been processed. If a payment order in the name of Customer and accepted by Bank was not authorized by Customer, the liability of the parties will be governed by the applicable provisions of UCC 4A.
Responsibility for the Detection of Errors and Unauthorized Payment Orders. Except as may be provided, the Global Sub-custodian is not responsible for detecting any Bank error contained in any payment order sent by the Bank to the Global Sub-custodian. In the event that the Bank’s payment order to the Global Sub-custodian either (i) identifies the beneficiary by both a name and an identifying or bank account number and the name and number identify different persons or entities, or (ii) identifies any bank by both a name and an identifying number and the number identifies a person or entity different from the bank identified by name, execution of the payment order, payment to the beneficiary, cancellation of the payment order or actions taken by any bank in respect of such payment order may be made solely on the basis of the number. The Global Sub-custodian shall not be liable for interest on the amount of any payment order that was not authorized or was erroneously executed unless the Bank so notifies the Global Sub-custodian within thirty (30) business days following the Bank’s receipt of notice that such payment order had been processed. If a payment order in the name of the Bank and accepted by the Global Sub-custodian was not authorized by the Bank, the liability of the parties will be governed by the applicable provisions of UCC 4A.
