Common use of Examination and Notification of Errors Clause in Contracts

Examination and Notification of Errors. Correspondent shall examine promptly all confirmations, comparisons, monthly and quarterly statements of account, the Reconciliation Statements (as defined in Section IX.C. of this Agreement), and any other statements or reports provided to Correspondent by Ridge or its clearing agency. Confirmations and comparisons shall be deemed accurate and correct, and Correspondent shall be deemed to have waived any claim with respect to the accuracy or correctness of the information therein, unless Correspondent notifies Ridge in writing of any alleged errors or discrepancies prior to the settlement date for the subject transactions. Monthly and quarterly statements of account shall be deemed accurate and correct, and Correspondent shall be deemed to have waived any claim with respect to the accuracy or correctness of the information therein, unless Correspondent notifies Ridge in writing of any alleged errors or discrepancies within ten (10) business days of receipt. Any notice of error shall be accom­panied by such documentation as may be necessary to substantiate Correspondent’s claim. At the request of Ridge, Correspondent promptly shall provide any additional documentation or information Ridge reasonably believes is necessary or desirable to substantiate and correct any such alleged error or discrepancy.

Examination and Notification of Errors. Correspondent shall examine promptly all confirmations, comparisons, monthly and quarterly statements of account, the Reconciliation Statements (as defined in Section IX.C. of this Agreement), and any other statements or reports provided to Correspondent by Ridge or its clearing agency. Confirmations and comparisons shall be deemed accurate and correct, and Correspondent shall be deemed to have waived any claim with respect to the accuracy or correctness of the information therein, unless Correspondent notifies Ridge in writing of any alleged errors or discrepancies prior to within twenty (20) business days of receipt of the settlement date for the subject transactionsapplicable confirmation. Monthly and quarterly statements of account shall be deemed accurate and correct, and Correspondent shall be deemed to have waived any claim with respect to the accuracy or correctness of the information therein, unless Correspondent notifies Ridge in writing of any alleged errors or discrepancies within ten twenty (1020) business days of receipt. Any notice of error shall be accom­panied accompanied by such documentation as may be necessary to substantiate Correspondent’s claim. At the request of Ridge, Correspondent promptly shall provide any additional documentation or information Ridge reasonably believes is necessary or desirable to substantiate and correct any such alleged error or discrepancy.