Laserfiche WebLink
26 <br />Dates and Special Instructions on Paper Items. <br />Bank may, without inquiry or liability, pay one of Company’s Paper Items <br />even though: (i) special instructions written on the Paper Item indicate that <br />Bank should refuse payment (e.g., “Void after thirty (30) days,” “Paid-In-Full,” <br />or “Void over $100”); (ii) the Paper Item is staledated (e.g., it bears a date <br />that is more than six (6) months in the past), even if Bank has knowledge of <br />the date on the Paper Item; (iii) the Paper Item is post-dated (e.g., it bears a <br />date in the future), unless an Authorized Signer has given Bank a notice of <br />post-dating; or (iv) the Paper Item is not dated. In addition, Bank may pay in <br />U.S. dollars the amount that has been MICR-encoded on Company’s Paper <br />Item, even though Company has purportedly drawn the Paper Item in a <br />foreign currency. <br /> <br />Facsimile or Mechanical Signatures. <br />If Company has elected to use a facsimile, other mechanical signature <br />(including a stamp) to sign or endorse Paper Items or a Company logo or <br />other mark in lieu of a signature, Bank may rely on that signature (or any <br />signature that purports to be the facsimile, other mechanical signature of an <br />Authorized Signer) or the Company logo or other mark as Company’s <br />authorized signature without regard to when or by whom or by what means <br />or in what ink color such signature, Company logo or other mark may have <br />been made or affixed to a Paper Item deposited to, drawn on or otherwise <br />debited to Company’s Account. <br /> <br />Consumer ACH Debit Entries. <br />Under the ACH Operating Rules, certain types of ACH entries may only be <br />presented on a consumer account. These entries (each, a “Consumer ACH <br />Debit Entry”) include without limitation Point of Purchase (“POP”), account <br />receivable (“ARC”), destroyed check (“XCK”) and returned check (“RCK”) <br />entries. Bank shall have no obligation to pay, and no liability for paying, any <br />Consumer ACH Debit Entry on Company’s Account. <br /> <br />Stop Payment Orders; Notices of Post-Dating <br /> <br />General. <br />“Stop payment order” refers to both an order to Bank not to pay a Paper <br />Item and to a notice of post-dating. To be effective, a stop payment order <br />must be received in a time and manner that gives Bank a reasonable <br />opportunity to act on it before paying, accepting, certifying, cashing or <br />otherwise becoming obligated to pay Company’s Paper Item as provided in <br />the Uniform Commercial Code. Each stop payment order is subject to <br />Bank’s verification that the Paper Item described in the order has not been <br />6.1.D. - Page 68