Common use of Satisfaction of Positive Pay Enrollment Obligations Clause in Contracts

Satisfaction of Positive Pay Enrollment Obligations. By enrolling an Account in Check Block, you satisfy your obligation under the Section entitled “Fraud Detection and Prevention – Positive Pay/ACH Positive Pay - Indemnification” to enroll that Account in Positive Pay. Note: Enrollment in Check Block does NOT satisfy your separate obligation under this Agreement to enroll in our ACH Positive Pay Service (or to indemnify the Bank against losses that use of ACH Positive Pay could prevent). Check Block does not block, limit or filter any ACH activity in your designated Accounts. Furthermore, under certain circumstances, checks can be converted by holders into ACH debits against your designated Account rather than presented as checks. Check Block will not block payment of ACH debits from converted checks. Accordingly, enrollment in Check Block does not modify your responsibility to monitor your designated Account on a daily basis, to review all designated Account periodic statements, and to promptly report any unauthorized or erroneous activity that is identified or identifiable by such monitoring and review.