Data Review. Company has the sole responsibility for confirming the accuracy and validity of all information, data, entries, and processing services prepared and performed by F&M BANK. Company shall carefully review all reports prepared by F&M BANK and shall reject in writing incorrect daily reports within 5 Business Days after receipt and all other reports provided by F&M BANK within 10 Business Days after receipt or within such time as required by the applicable Service. Company’s failure to so reject any report constitutes (a) Company’s acceptance of the report, and (b) notwithstanding the terms of Section 7 of these General Provisions, and except, as prohibited by law, the release of F&M BANK from any liability arising under or in connection with the report. With respect to daily Services, Company must give F&M BANK notice within a reasonable time after receipt of the material or report containing an error but is agreed that for such errors, a "reasonable time" cannot exceed 24 hours.
Appears in 2 contracts
Sources: Treasury Management Agreement, Treasury Management Agreement