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2000_0828_packet
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2000_0828_packet
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9/29/2011 10:04:38 AM
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12. The Account. <br /> Financial Institution may, without prior notice or demand, obtain payment of any account due <br /> and payable to it under this Agreement by debiting the account(s) of Company identified in <br /> Schedule A or Schedule C attached hereto (the "Account"), and shall credit or debit the Account <br /> for any amount received by Financial Institution by reason of the return of an Entry transmitted <br /> by Financial Institution for which Financial Institution has previously received payment or credit <br /> from Company. Such credit or debit shall be made as of the day of such receipt by Financial <br /> Institution. Company shall at all times maintain a balance of available funds in the Account <br /> sufficient to cover its payment obligations under this Agreement. In the event there are not <br /> sufficient available funds in the Account to cover Company's obligations under this Agreement, <br /> Company agrees that Financial Institution may debit any account maintained by Company with <br /> Financial Institution or any affiliate of Financial Institution or that Financial Institution may set <br /> off against any amount it owes to Company, in order to obtain payment of Company's <br /> obligations under this Agreement. <br /> 13. Account Reconciliation. <br /> Entries transmitted by Financial Institution or credited to a Receiver's account maintained with <br /> Financial Institution will be reflected on Company's periodic statement issued by Financial <br /> Institution with respect to the Account pursuant to the agreement between Financial Institution <br /> and Company. Company agrees to notify Financial Institution promptly of any discrepancy <br /> between Company's records and the information shown on any periodic statement. If Company <br /> fails to notify Financial Institution of any discrepancy within thirty (30) days of receipt of a <br /> periodic statement containing such information, Company agrees that Financial Institution shall <br /> not be liable for any other losses resulting from Company's failure to give such notice or any <br /> loss of interest or any interest equivalent with respect to any Entry shown on such periodic <br /> statement. If Company fails to notify Financial Institution of any such discrepancy within thirty <br /> (30) days of receipt of such periodic statement, Company shall be precluded form asserting such <br /> discrepancy against Financial Institution. <br /> Page 5 of 12 <br />
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