Common use of LIABILITY FOR ERRORS AND OMISSIONS Clause in Contracts

LIABILITY FOR ERRORS AND OMISSIONS. If Alterna Bank makes an error or omission in recording or processing any Transaction, Alterna Bank is only liable for the amount of the error or omission if the client has not caused or contributed to the error or omission in any way, has complied with this Agreement and the Account Agreement, and has given written notice to Alterna Bank within the time provided in the Account Agreement, and to the extent the liability is not otherwise excluded by this Agreement or the Account Agreement. If the client has given such notice, Alterna Bank's maximum liability is limited to the amount of the error or omission. In no event will Alterna Bank be liable for any delay, inconvenience, cost, loss, or damage (whether direct, indirect, special, exemplary, or consequential) whatsoever caused by, or arising from, any such error or omission.