Payee Positive Pay Service Sample Clauses

Payee Positive Pay Service. Payee Positive Pay Service compares the information from your Master Issue File to the scanned payee information on your Checks. Any Check presented for which the scanned payee information does not match the Master Issue File, including the Check number and Dollar amount, will be identified as an Exception Item. Although we exercise reasonable care in providing Payee Positive Pay Service, if in our review of payee information on your presented Checks against payee information in your Master Issue File we were to fail to report a Check as an Exception Item to you based on a payee mismatch does not constitute a representation or warranty by us that the payee information on the Check presented to us matches the information contained in your Master Issue File or that the payee information on the Check has not been altered. Your Master Issue File must include information in the required format specified in our Positive Pay Setup Guide. Before Payee Positive Pay Service can be activated your check stock and your file transmissions must be tested by us to confirm our equipment can read the payee information and successfully compare that information to your Master Issue File. Payee Positive Pay Service does not apply to Checks that you issued before your Payee Positive Pay Service has been activated by us on your Account. We will use Commercially Reasonable efforts to compare Checks presented for encashment with information in the Master Issue File. If we refuse to cash any Exception Item, our refusal will not be deemed a wrongful dishonor. In the event we dishonor a Check, then we will refer its presenter to you. You acknowledge that Check information that you provide to us each Banking Day will not be available in the Master Issue File at our branches until at least thirty (30) minutes following our successfully uploading and confirming the Master Issue File.
Sample 1
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Payee Positive Pay Service. With the Payee Positive Pay Service, you agree to provide to us the following Issue Information for each Item: (i) the payee name(s) on the Item; (ii) Item serial number; (iii) dollar amount of the Item; and (iv) Item issuance date. You will provide us with pay or return instructions for Items that either do not have a payee match or that have a payee match but that do not match the MICR information provided to us by you. Account reconcilement related reporting is available for the Payee Positive Pay Service if you agree to have our Account Reconcilement Service (Traditional Service). For more information on how the Payee Positive Pay Service works including, without limitation, delivery and cutoff times, reporting features, and each party’s responsibilities and obligations, please refer to the User Materials.
Sample 1

Related to Payee Positive Pay Service

  • Death After Separation from Service But Before Benefit Distributions Commence If the Executive is entitled to benefit distributions under this Agreement, but dies prior to the commencement of said benefit distributions, the Bank shall distribute to the Beneficiary the same benefits that the Executive was entitled to prior to death except that the benefit distributions shall commence within thirty (30) days following receipt by the Bank of the Executive’s death certificate.

  • Elective Deferrals An Employee will be eligible to become a Contributing Participant in the Plan (and thus be eligible to make Elective Deferrals) and receive Matching Contributions (including Qualified Matching Contributions, if applicable) after completing 1 (enter 0, 1 or any fraction less than 1) Years of Eligibility Service.

  • Plan Year The year for the purposes of the plan shall be from September 1 of one year, to August 31, of the following year, or such other years as the parties may agree to.

  • Distributions on Account of Separation from Service If and to the extent required to comply with Section 409A, no payment or benefit required to be paid under this Agreement on account of termination of the Executive’s employment shall be made unless and until the Executive incurs a “separation from service” within the meaning of Section 409A.

  • Highly Compensated Employee The term Highly Compensated Employee includes highly compensated active employees and highly compensated former employees.

  • Separation Compensation In exchange for your agreement to the general release and waiver of claims and covenant not to sue set forth below and your other promises herein, the Company agrees to provide you with the following:

  • RELATED EMPLOYERS If any member of the Employer's related group (as defined in Section 1.30 of the Plan) executes a Participation Agreement to this Adoption Agreement, such member's Employees are eligible to participate in this Plan, unless excluded by reason of an exclusion classification elected under this Adoption Agreement Section 1.07. In addition: (Choose (j) or (k))

  • Deferred Compensation Account All Participant Deferral Credits and Employer Credits shall be credited to the Deferred Compensation Account of the Participant as provided in Section 8.

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