Errors in Payment Orders. Company agrees that Financial Institution shall have no obligation to discover errors in Payment Orders and shall not be liable to Company for errors made by Company, including but not limited to errors made in identifying the beneficiary, or an intermediary or beneficiary’s financial institution, or for errors in the amount of the Payment Order. Financial Institution shall likewise have no duty to discover and shall not be liable for duplicate Payment Orders issued by Company. In the event that Company makes an error or issues a duplicate Payment Order, Company shall indemnify, defend all claims, and hold Financial Institution harmless from any loss, damages, or expenses, including but not limited to attorneys’ fees, incurred by Financial Institution as the result of completion of the funds transfer.
Appears in 1 contract
Sources: Wire Transfer Agreement
Errors in Payment Orders. Company Member agrees that Financial Institution shall have no obligation to discover errors in Payment Orders and shall not be liable to Company Member for errors made by CompanyMember, including but not limited to errors made in identifying the beneficiary, or an intermediary or beneficiary’s financial institution, or for errors in the amount of the Payment Order. Financial Institution shall likewise have no duty to discover and shall not be liable for duplicate Payment Orders issued by CompanyMember. In the event that Company Member makes an error or issues a duplicate Payment Order, Company Member shall indemnify, defend all claims, and hold Financial Institution harmless from any loss, damages, or expenses, including but not limited to attorneys’ fees, incurred by Financial Institution as the result of completion of the funds transfer.
Appears in 1 contract
Sources: Master Cash Management Agreement