Common use of Use of Correspondents, Agents, and Systems Clause in Contracts

Use of Correspondents, Agents, and Systems. 10.1. The Customer agrees that in executing any Payment Order the Bank may make use of such correspondents, agents and Payment Order and communication systems as it deems necessary or desirable to execute such Payment Order. To the fullest extent permitted by law (a) such correspondents, agents and systems shall be deemed to be agents of the Customer and the Bank shall not be liable for any errors, negligence, suspension, or default of any of them or for any failure to identify the beneficiary or any mistake in payment by any of them, and (b) the Bank shall not be liable for any errors, mutilations, mis-delivery, or failure of delivery in the transmission of any Payment Order by such correspondents, agents and Payment Order and communication systems or for any suspension of any means of communication or for any imposition of a censorship, exchange control or other restriction by such correspondents, agents and Payment Order and communication systems, all such risk being borne by the Customer. 10.2. Each Payment Order, amendment or cancellation thereof, carried out through a funds transfer system will be governed by all applicable funds transfer system rules, whether or not the Bank is a member of the system. Any Payment Order or cancellation thereof may be transmitted by any Bank by use of the funds transfer system of the Federal Reserve Bank (“Fedwire”). The rights and obligations of the Bank and the Customer with respect to any Payment Order, any part of which is carried out through the use of the Fedwire, will be governed by any applicable laws, the regulations of the Board of Governors of the Federal Reserve System, and the operating circulars of the Federal Reserve Bank. The Customer acknowledges the Bank’s right to reserve, adjust, stop payment, or delay posting of an executed Payment Order is subject to the laws, regulations, circulars, and rules described in this Section 10.2.

Use of Correspondents, Agents, and Systems. 10.1. The Customer Member agrees that in executing any Payment Order the Bank Financial Institution may make use of such correspondents, agents and Payment Order and communication systems as it deems necessary or desirable to execute such Payment Order. To the fullest extent permitted by law (a) such correspondents, agents and systems shall be deemed to be agents of the Customer Member and the Bank Financial Institution shall not be liable for any errors, negligence, suspension, or default of any of them or for any failure to identify the beneficiary or any mistake in payment by any of them, and (b) the Bank Financial Institution shall not be liable for any errors, mutilations, mis-deliverymis‐delivery, or failure of delivery in the transmission of any Payment Order by such correspondents, agents and Payment Order and communication systems or for any suspension of any means of communication or for any imposition of a censorship, exchange control or other restriction by such correspondents, agents and Payment Order and communication systems, all such risk being borne by the CustomerMember. 10.2. Each Payment Order, amendment or cancellation thereof, carried out through a funds transfer system will be governed by all applicable funds transfer system rules, whether or not the Bank Financial Institution is a member of the system. Any Payment Order or cancellation thereof may be transmitted by any Bank financial institution by use of the funds transfer system of the Federal Reserve Bank Financial Institution (“Fedwire”). The rights and obligations of the Bank Financial Institution and the Customer Member with respect to any Payment Order, any part of which is carried out through the use of the Fedwire, will be governed by any applicable laws, the regulations of the Board of Governors of the Federal Reserve System, and the operating circulars of the Federal Reserve BankFinancial Institution. The Customer Member acknowledges the BankFinancial Institution’s right to reserve, adjust, stop payment, or delay posting of an executed Payment Order is subject to the laws, regulations, circulars, and rules described in this Section 10.2.

Use of Correspondents, Agents, and Systems. 10.1. The a. Customer agrees that in executing any Payment Order the Wire Transfer Bank may make use of such correspondents, agents and Payment Order Wire Transfer and communication systems as it deems necessary or desirable to execute such Payment OrderWire Transfer. To the fullest extent permitted by law (a) such correspondents, agents and systems shall be deemed to be agents of the Customer and the Bank shall not be liable for any errors, negligence, suspension, or default of any of them or for any failure to identify the beneficiary or any mistake in payment by any of them, and (b) the Bank shall not be liable for any errors, mutilations, mis-delivery, or failure of delivery in the transmission of any Payment Order Wire Transfer by such correspondents, agents and Payment Order Wire Transfer and communication systems or for any suspension of any means of communication or for any imposition of a censorship, exchange control or other restriction by such correspondents, agents and Payment Order Wire Transfer and communication systems, all such risk being borne by the Customer. 10.2. b. Each Payment OrderWire Transfer, amendment or cancellation thereof, carried out through a funds wire transfer system will be governed by all applicable funds wire transfer system rules, whether or not the Bank is a member of the system. Any Payment Order Wire Transfer or cancellation thereof may be transmitted by any Bank bank by use of the funds wire transfer system of the Federal Reserve Bank (“Fedwire”). The rights and obligations of the Bank and the Customer with respect to any Payment OrderWire Transfer, any part of which is carried out through the use of the Fedwire, will be governed by any applicable laws, the regulations of the Board of Governors of the Federal Reserve System, and the operating circulars of the Federal Reserve Bank. The Customer acknowledges the Bank’s right to reserve, adjust, stop payment, or delay posting of an executed Payment Order Wire Transfer is subject to the laws, regulations, circulars, and rules described in this Section 10.2Nine.

Use of Correspondents, Agents, and Systems. 10.1. The Customer agrees that in executing any Payment Order the wire transfer request, Bank may make use of such correspondents, agents and Payment Order and communication systems as it deems necessary or desirable to execute such Payment Orderwire transfer request. To the fullest extent permitted by law (a) such correspondents, agents and systems shall be deemed to be agents of the Customer and the Bank shall not be liable for any errors, negligence, suspension, or default of any of them or for any failure to identify the beneficiary or any mistake in payment by any of them, and (b) the Bank shall not be liable for any errors, mutilations, mis-delivery, or failure of delivery in the transmission of any Payment Order by wire transfer request such correspondents, agents and Payment Order and communication systems or for any suspension of any means of communication or for any imposition of a censorship, exchange control or other restriction by such correspondents, agents and Payment Order and communication systems, all such risk being borne by the Customer. 10.2. Each Payment Orderwire transfer request, amendment or cancellation thereof, carried out through a funds transfer system will be governed by all applicable funds transfer system rules, whether or not the Bank is a member of the system. Any Payment Order wire transfer request or cancellation thereof may be transmitted by any Bank financial institution by use of the funds transfer system of the Federal Reserve Bank Financial Institution (“Fedwire”). The rights and obligations of the Bank and the Customer with respect to any Payment Orderwire transfer request, any part of which is carried out through the use of the Fedwire, will be governed by any applicable laws, the regulations of the Board of Governors of the Federal Reserve System, and the operating circulars of the Federal Reserve BankFinancial Institution. The Customer acknowledges the Bank’s right to reserve, adjust, stop payment, or delay posting of an executed Payment Order is subject to the laws, regulations, circulars, and rules described herein. Customer wishes to initiate credit and/or debit Entries through the Bank to accounts maintained at Bank and in other depository financial institutions by means of the Automated Clearing House Network (“ACH”) pursuant to the terms of this Master Agreement and the rules of the National Automated Clearing House Association (“NACHA”) and Bank’s operating rules and procedures for electronic entries, including any exhibits or appendices thereto now in effect, or as may be amended from time to time, (the "Rules"), and Bank is willing to act as an Originating Depository Financial Institution (“ODFI”) with respect to such Entries. In the event of inconsistency between a provision of this Service Agreement, the Uniform Commercial Code ("UCC"), the Master Agreement, and/or the Depository Agreement, the provisions of this Service Agreement shall prevail. Terms not otherwise defined in this Section 10.2Service Agreement shall have the meaning ascribed to those terms in the Rules. The term "Entry" shall have the meaning provided in the Rules and shall also mean the data received from Customer hereunder from which Bank initiates each Entry.

Use of Correspondents, Agents, and Systems. 10.1. The Customer agrees You agree that in executing any Payment Order the Bank Order, we may make use of such correspondents, agents and Payment Order and communication systems as it deems we deem necessary or desirable to execute such Payment Order. To the fullest extent permitted by law (a) such correspondents, agents and systems shall be deemed to be agents of the Customer you and the Bank we shall not be liable for any errors, negligence, suspension, or default of any of them or for any failure to identify the beneficiary or any mistake in payment by any of them, and (b) the Bank we shall not be liable for any errors, mutilations, mis-delivery, or failure of delivery in the transmission of any Payment Order by such correspondents, agents and Payment Order and communication systems or for any suspension of any means of communication or for any imposition of a censorship, exchange control or other restriction by such correspondents, agents and Payment Order and communication systems, all such risk being borne by the Customer. 10.2you. Each Payment Order, amendment or cancellation thereof, carried out through the means of a funds transfer system will be governed by all applicable funds transfer system rules, whether or not the Bank is we are a member of the system. Any Payment Order or cancellation thereof may be transmitted by any Bank bank by use of the funds transfer system of the Federal Reserve Bank (“Fedwire”). The Fedwire”).The rights and obligations of the Bank us and the Customer you with respect to any Payment Order, any part of which is carried out through the use of the Fedwire, will be governed by any applicable laws, the regulations of the Board of Governors of the Federal Reserve System, and the operating circulars of the Federal Reserve Bank. The Customer acknowledges the Bank’s You acknowledge our right to reserve, adjust, stop payment, or delay posting of an executed Payment Order is will be subject to the laws, regulations, circulars, and rules described in this Section 10.2Agreement.