Common use of Rightful Payment and Dishonor Clause in Contracts

Rightful Payment and Dishonor. If Business Entity does not issue a Return Request to Extraco for an Exception Check in accordance with the terms of this Agreement, and Extraco honors such Exception Check, such honor shall be rightful, and Business Entity waives any right it may have to assert that the Exception Check was not properly payable under Section 4.401 of the Texas Business and Commerce Code.

Rightful Payment and Dishonor. If Business Entity does not issue a Return Request to Extraco for an Exception Check or Exception ACH Item in accordance with the terms of this Agreement, and Extraco honors such Exception CheckCheck or Exception ACH Item, such honor shall be rightful, and Business Entity waives any right it may have to assert that the Exception Check or Exception ACH Item was not properly payable under Section 4.401 of the Texas Business and Commerce Code.