Common use of Verification and Validation Clause in Contracts

Verification and Validation. The Collateral Account Bank shall not be obliged to make any payment or otherwise to act on any Instruction notified to it under this Agreement if it is unable: (a) to verify any signature pursuant to any request or Instruction against the specimen signature provided for the relevant Authorised Representative hereunder; and (b) to validate the authenticity of the request by telephoning a Call-back Contact who has not executed the relevant request or Instruction as an Authorised Representative of the Issuer.

Verification and Validation. The Collateral Account Bank shall not be obliged to make any payment or otherwise to act on any Instruction notified to it under this Agreement if it is unable: (a) to verify any signature pursuant to any request or Instruction against the specimen signature provided for the relevant Authorised Representative hereunder▇▇▇▇▇▇▇▇▇; and (b) to validate the authenticity of the request by telephoning a Call-back Contact who has not executed the relevant request or Instruction as an Authorised Representative of the Issuer.