Payment and Return of Exception Checks; Overriding Default Instruction Clause Samples

Payment and Return of Exception Checks; Overriding Default Instruction. Company shall review any Exception Checks before the Positive Pay Settlement Deadline applicable and respond via Online Banking. Such response shall either authorize payment or provide return instructions for each Exception Check. Any Exception Check for which no such response has been provided by Company in accordance with this Section 4 shall be paid by F&M Bank. Company agrees that F&M BANK exercises ordinary care whenever it acts in accordance with this Section
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Payment and Return of Exception Checks; Overriding Default Instruction. Customer shall respond to the Exception Report via the InView application specifically provided for such response before the Positive Pay Settlement Deadline applicable to the Exception Report. Such response shall either authorize payment or provide return instructions for each Exception Check listed in the Exception Report. Any Exception Check for which no such response has been provided by Customer in accordance with this Section C-4 shall be processed in accordance with Customer’s default payment/return instruction as set forth in the applicable Profile(s). Customer agrees that Bank exercises ordinary care whenever it acts in accordance with this Section C-4. (a) If Customer’s default instruction is to pay all Exception Checks but Customer nevertheless desires that any specific Exception Check be returned, Customer shall submit through InView a Return Request which shall identify each Exception Check that Customer desires to be returned by the complete check number and amount specified in the Exception Report and which shall also include a return reason selected by Customer form a list of available choices, thereby instructing Bank to return the Exception Check. Return Requests must be submitted by Customer and actually received by Bank not later than the Positive Pay Settlement Deadline applicable to the Exception Report identifying the subject Exception Check. Bank shall return to the presenting bank any Exception Check that Customer instructs Bank to return, as provided in this Section C-4 and otherwise in accordance with this Part C, and such return shall constitute Customer’s waiver of any and all claims of wrongful dishonor. Otherwise, subject to the terms of any other agreement or terms or conditions governing the Authorized Account, no Exception Check listed on an Exception Report will be returned by Bank, and Customer’s failure to submit a Return Request in accordance with this Section C-4 shall conclusively operate as Customer’s express consent and agreement to final payment of all Exception Checks listed in such Exception Report, and such failure shall constitute Customer’s waiver of any and all rights to assert that such Exception Check was not properly payable or was for any reason wrongfully paid. (b) If Customer’s default instruction is to return all Exception Checks and Customer nevertheless desires that any specific Exception Check be paid, Customer shall submit through InView a Pay Request which shall identify each Exception Check that...
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Related to Payment and Return of Exception Checks; Overriding Default Instruction

  • No Action Except Under Specified Documents The Interim Eligible Lender Trustee shall not otherwise deal with the Interim Trust Loans except in accordance with the powers granted to and the authority conferred upon the Interim Eligible Lender Trustee pursuant to this Agreement, the Purchase Agreements and the Sale Agreement.

  • Default Not Exceeding 10% of Firm Units If any Underwriter or Underwriters shall default in its or their obligations to purchase the Firm Units and if the number of the Firm Units with respect to which such default relates does not exceed in the aggregate 10% of the number of Firm Units that all Underwriters have agreed to purchase hereunder, then such Firm Units to which the default relates shall be purchased by the non-defaulting Underwriters in proportion to their respective commitments hereunder.

  • Absence of Defaults and Conflicts Resulting from Transaction The execution, delivery and performance of this Agreement, and the sale of the Securities, will not result in a breach or violation of any of the terms and provisions of, or constitute a default or a Debt Repayment Triggering Event (as defined below) under, or result in the imposition of any lien, charge or encumbrance upon any property or assets of the Company or any of its subsidiaries pursuant to, (A) the charter, by-laws or similar organizational documents of the Company or any of its subsidiaries, (B) any statute, rule, regulation or order of any governmental agency or body or any court, domestic or foreign, having jurisdiction over the Company or any of its subsidiaries or any of their properties, or (C) any agreement or instrument to which the Company or any of its subsidiaries is a party or by which the Company or any of its subsidiaries is bound or to which any of the properties of the Company or any of its subsidiaries is subject except, in the case of clauses (B) and (C) above, any breach, violation, default, lien, charge or encumbrance that would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect; a “Debt Repayment Triggering Event” means any event or condition that gives, or with the giving of notice or lapse of time would give, the holder of any note, debenture, or other evidence of indebtedness (or any person acting on such holder’s behalf) the right to require the repurchase, redemption or repayment of all or a portion of such indebtedness by the Company or any of its subsidiaries.

  • No Action Except Under Specified Documents or Instructions The Owner Trustee shall not manage, control, use, sell, dispose of or otherwise deal with any part of the Trust Estate except (i) in accordance with the powers granted to and the authority conferred upon the Owner Trustee pursuant to this Agreement, (ii) in accordance with the Transaction Documents and (iii) in accordance with any document or instruction delivered to the Owner Trustee pursuant to Section 6.3.

  • Failed or Returned Payment Instructions In using the Service, you are requesting that we or our Service Provider attempt to make payments for you from your Eligible Transaction Account. If the Payment Instruction cannot be completed for any reason associated with your Eligible Transaction Account (for example, there are insufficient funds in your Eligible Transaction Account, or the Payment Instruction would exceed the credit or overdraft protection limit of your Eligible Transaction Account, to cover the payment), the Payment Instruction may or may not be completed. In certain circumstances, our Service Provider may either advance funds drawn on their corporate account or via an electronic debit, and in such circumstances will attempt to debit the Eligible Transaction Account a second time to complete the Payment Instruction. In some instances, you will receive a return notice from us or our Service Provider. In each such case, you agree that: a. You will reimburse our Service Provider immediately upon demand the amount of the Payment Instruction if the payment has been delivered but there are insufficient funds in, or insufficient overdraft credits associated with, your Eligible Transaction Account to allow the debit processing to be completed; b. You may be assessed a late fee equal to one and a half percent (1.5%) of any unpaid amounts plus costs of collection by our Service Provider or their third-party contractor if the Payment Instruction cannot be debited because you have insufficient funds in your Eligible Transaction Account, or the transaction would exceed the credit or overdraft protection limit of your Eligible Transaction Account, to cover the payment, or if the funds cannot otherwise be collected from you. The aforesaid amounts will be charged in addition to any NSF charges that may be assessed by us, as set forth in your fee schedule from us (including as disclosed on the Site) or your account agreement with us. You hereby authorize us and our Service Provider to deduct all of these amounts from your designated Eligible Transaction Account, including by ACH debit; c. Service Provider is authorized to report the facts concerning the return to any credit reporting agency.