BNYM Failure to Receive Data Clause Samples

BNYM Failure to Receive Data. BNYM shall not be liable for data or information which the Company, a Permitted User or an agent of either transmits or attempts to transmit to BNYM in connection with its use of a Component System and which is not received by BNYM or for any failure of a Component System to perform a function in connection with any such data or information, except to the extent that such failure to receive data is the result of BNYM’s failure to meet its Standard of Care as specified in the Main Agreement. BNYM shall not be obligated to ascertain the accuracy, actual receipt by it or successful transmission to it of any data or information in connection with the Company’s or a Permitted User’s use of a Component System or to confirm the performance of any function by a Component System based on the transmission of instructions, data or information to BNYM in connection with such use by the Company or a Permitted User. Sole responsibility for the foregoing shall rest with the party initiating the transmission.

BNYM Failure to Receive Data. BNYM shall not be liable for data or information which the Company, a Permitted User or an agent of either transmits or attempts to transmit to BNYM in connection with its use of a Component System and which is not received by BNYM or for any failure of a Component System to perform a function in connection with any such data or information. BNYM shall not be obligated to ascertain the accuracy, actual receipt by it or successful transmission to it of any data or information in connection with the Company's or a Permitted User's use of a Component System or to confirm the performance of any function by a Component System based on the transmission of instructions, data or information to BNYM in connection with such use by the Company or a Permitted User. Sole responsibility for the foregoing shall rest with the party initiating the transmission. For further clarification, this provision does not apply to Section 11(h) of the Main Agreement, nor negate BNYM’s negation of liability for Errant Securities under Section 11(h).

BNYM Failure to Receive Data. BNYM shall not be liable for data or information which the Company, a Permitted User or an agent of either transmits or attempts to transmit to BNYM in connection with its use of a Component System and which is not received by BNYM or for any failure of a Component System to perform a function in connection with any such data or information. BNYM shall not be obligated to ascertain the accuracy, actual receipt by it or successful transmission to it of any data or information in connection with the Company’s or a Permitted User’s use of a Component System or to confirm the performance of any function by a Component System based on the transmission of instructions, data or information to BNYM in connection with such use by the Company or a Permitted User. Sole responsibility for the foregoing shall rest with the party initiating the transmission. For clarification: BNYM is responsible for performances of services in accordance with the Agreement and the Documentation, as applicable, with respect to data and information it does receive and the foregoing does not restrict or reduce BNYM’s liability under Section 11(a) for Liable Conduct in the circumstances addressed by this Section 3.4 of Schedule C.

BNYM Failure to Receive Data. BNYM shall not be liable for data or information which the Company, a Permitted User or an agent of either transmits or attempts to transmit to BNYM in connection with its use of a Component System and which is not received by BNYM or for any failure of a Component System to perform a function in connection with any such data or information that is not received. BNYM shall not be obligated to ascertain the accuracy, actual receipt by it or successful transmission to it of any data or information in connection with the Company’s or a Permitted User’s use of a Component System or to confirm the performance of any function by a Component System based on the transmission of instructions, data or information to BNYM in connection with such use by the Company or a Permitted User. Sole responsibility for the foregoing shall rest with the party initiating the transmission. For clarification: this Section 3.4 does not apply to BNYM’s obligations under Section 3 of the Main Agreement and in particular does not modify BNYM’s obligation under the proviso to Section 11(h).

BNYM Failure to Receive Data. BNYM shall not be liable for data or information which the Company, a Permitted User or an agent of either transmits or attempts to transmit to BNYM in connection with its use of a Component System and which is not received by BNYM or for any failure of a Component System to perform a function in connection with any such data or information. BNYM shall not be obligated to ascertain the accuracy, actual receipt by it or successful transmission to it of any data or information in connection with the Company's or a Permitted User's use of a Component System or to confirm the performance of any function by a Component System based on the transmission of instructions, data or information to BNYM in connection with such use by the Company or a Permitted User. Sole responsibility for the foregoing shall rest with the party initiating the transmission. For clarification: (i) Consistent with Section 0.2 (Purpose), this Section 3.5 does not apply to BNYM's receipt of data or information in connection with any service BNYM is obligated to perform pursuant to the Main Agreement; the provisions of the Main Agreement alone apply to such services, and (ii) without limiting the generality of clause (i), with respect to files that are customarily received in the ordinary course of business from third party sources identified in advance to BNYM by the Company and acknowledged by BNYM as to the content and timing of the files to be received from such third party sources, and upon such time as procedures are put in place by BNYM to receive such files in the ordinary course of business, BNYM will employ commercially reasonable measures to detect when such files are not received at the customary times, and upon detecting a file has not been received will employ commercially reasonable measures to obtain such file.