Common use of Cancellation or Amendment of Entries Clause in Contracts

Cancellation or Amendment of Entries. You shall have no right to cancel or amend an Entry after it is delivered to the Bank. The Bank, however, shall use reasonable efforts to act on a request by you to cancel an Entry, file pursuant to the Rules, and prior to transmitting it to the ACH Operator; provided, however, that the Bank shall not be liable for interest or losses if such cancelation is not effected. Any request by you for cancelation of an Entry must comply with the Delivery Requirements and the Security Procedures. You shall reimburse the Bank for any expenses, losses, or damages the Bank may incur in effecting or attempting to affect your request for the cancellation of an Entry.