Insufficient Funds, Uncollected Funds and Overdrafts Sample Clauses

Insufficient Funds, Uncollected Funds and Overdrafts. You and all other persons with whom you hold a joint account are jointly and severally liable for all overdrafts created in the account, regardless of who caused the overdraft or who benefited from the overdraft. “
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Insufficient Funds, Uncollected Funds and Overdrafts. We may, in our sole discretion and without giving you prior notice, refuse to pay an item drawn on your Account if there are insufficient funds in the Account. Insufficient or nonsufficient funds means that you don't have enough funds in your Account to pay all the items that have been presented for payment from the Account. Uncollected funds means that you don't have enough available funds in your Account to pay all the items that have been presented for payment from the Account. For the purpose of deciding whether to return an item for insufficient funds, we may determine the amount of funds in your Account at any time between the time we receive the item and when we return the item or send a notice in lieu of return. If we, in our sole discretion, choose to pay any item that overdraws your Account, we may charge you a processing fee and use your later deposits to cover both the overdraft and the overdraft fees. Our honoring of a payment one time or multiple times does not mean that we will pay every time for future items if there are insufficient funds in your Account so you should not, by any means, rely on us to honor payments or withdrawals on your Account regardless of how frequently or under what circumstances we have paid overdrafts on your Account in the past. You must immediately pay the amount of any overdraft along with any fees that may apply. We may use subsequent deposits, including direct deposits of social security or other government benefits, to cover such overdrafts and overdraft fees. We may impose a Nonsufficient Funds or Uncollected Funds fee for each check or other item that overdraws your Account or draws on uncollected funds, whether we pay or return your check or item unpaid. You agree that we may charge fees for overdrafts. Your Account's Monthly Service Charge may overdraw your Account; however we will not assess a Nonsufficient Funds fee for this type of overdraft. If your Account remains overdrawn for five (5) consecutive business days, your Account will be subject to a daily Overdraft (Continuous) fee. For consumer accounts, we will not charge fees for overdrafts caused by ATM withdrawals or one-time debit card transactions if you have not opted-in to that service. If your Account has a sweep arrangement, Overdraft Protection Line of Credit, or Overdraft Privilege feature (collectively referred to as "overdraft protection plans"), checks or other items (debits) that would overdraw your Account may be honored up to your avai...
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Related to Insufficient Funds, Uncollected Funds and Overdrafts

  • Disbursements from Replacement Reserve Account (a) Lender shall make disbursements from the Replacement Reserve Account to pay Borrower only for the costs of the Replacements. Lender shall not be obligated to make disbursements from the Replacement Reserve Account to reimburse Borrower for the costs of routine maintenance to the Property or for costs which are to be reimbursed from the Required Repair Fund (if any).

  • Disbursement Account 12.1 The Lender is obligated to keep the bank account information provided on the Platform up to date. The account shall be managed by a bank within the Single Euro Payment Area (hereinafter “SEPA”).

  • Funding Account The Administrative Agent shall have received a notice setting forth the deposit account of the Borrower (the “Funding Account”) to which the Administrative Agent is authorized by the Borrower to transfer the proceeds of any Borrowings requested or authorized pursuant to this Agreement.

  • Permitted Withdrawals from the Collection Account The Servicer may, from time to time, withdraw funds from the Collection Account for the following purposes:

  • NON-SUFFICIENT FUNDS (NSF CHECKS) If the Tenant pays the Rent with a check that is not honored due to insufficient funds (NSF): (check one) ☐ - There shall be a fee of $ per incident. ☐ - There shall be no fee.

  • Reserve Account Draw Amount On or before two Business Days before a Payment Date, the Servicer will calculate the Reserve Account Draw Amount for the Payment Date and will direct the Indenture Trustee to withdraw from the Reserve Account and deposit the Reserve Account Draw Amount into the Collection Account on or before the Payment Date.

  • Interest Reserve Account The Certificate Administrator shall establish and maintain the Interest Reserve Account in the Certificate Administrator’s name, on behalf of the Trustee, for the benefit of the Certificateholders. The Interest Reserve Account shall be established and maintained as a non-interest bearing Eligible Account. On each Master Servicer Remittance Date occurring in January (except during a leap year) or February (commencing in 2018) (unless, in either such case, the related Distribution Date is the final Distribution Date), the Master Servicer shall remit to the Certificate Administrator for deposit into the Interest Reserve Account, in respect of all the Mortgage Loans that accrue interest on the basis of a 360-day year and the actual number of days in the related month, an amount equal to one day’s interest at the related Net Mortgage Rate on the Stated Principal Balance of each such Mortgage Loan as of the close of business on the Distribution Date in the month preceding the month in which such Master Servicer Remittance Date occurs, to the extent a Monthly Payment or P&I Advance is made in respect thereof (all amounts so deposited in any consecutive January (if applicable) and February, “Withheld Amounts”). On or prior to the Master Servicer Remittance Date in March (or February if the final Distribution Date occurs in such month) of each calendar year (commencing in 2018), the Certificate Administrator shall transfer to the Lower-Tier REMIC Distribution Account the aggregate of all Withheld Amounts on deposit in the Interest Reserve Account.

  • Permitted Withdrawals from the Collection Accounts and Certificate Account (a) Each Servicer may from time to time make withdrawals from the related Collection Account for the following purposes:

  • Unused Escrow Funds In the event that a Closing does not occur when required under the Contract, or in the event that the Closing does occur but Escrow Funds remain in an account with Escrow Agent, the Escrow Agent shall notify OPWC in writing promptly thereafter. After receipt of such notice, OPWC shall deliver written instructions to Escrow Agent directing Escrow Agent’s release of the Escrow Funds. Immediately upon Escrow Agent’s receipt of such notice from OPWC, Escrow Agent shall release the Escrow Funds, or balance thereof, in accordance with OPWC’s written instructions.

  • Funds Transfer Disbursements The Borrower hereby authorizes the Administrative Agent to disburse the proceeds of any Loan made by the Lenders or any of their Affiliates pursuant to the Loan Documents as requested by an authorized representative of the Borrower to any of the accounts designated in the Disbursement Instruction Agreement.

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