Common use of Cancellation of Payment Orders Clause in Contracts

Cancellation of Payment Orders. The Trust or Authorized Person may cancel a payment order but the Custodian shall have no liability for the Custodian’s failure to act on a cancellation instruction unless the Custodian has received such cancellation instruction at a time and in a manner affording the Custodian reasonable opportunity to act prior to the Custodian’s execution of the order. Any cancellation shall be sent and confirmed in the manner set forth in Paragraph 2 above.

Cancellation of Payment Orders. The Trust or Authorized Person may cancel a payment order but the Custodian shall have no liability for the Custodian’s 's failure to act on a cancellation instruction unless the Custodian has received such cancellation instruction at a time and in a manner affording the Custodian reasonable opportunity to act prior to the Custodian’s 's execution of the order. Any cancellation shall be sent and confirmed in the manner set forth in Paragraph 2 above.