PAYMENT COVERAGE Clause Samples

PAYMENT COVERAGE. SPS-EFT agrees to waive section 11.2 (n) and to guarantee Stop Payment instruments up to the limit which was approved by SPS-EFT’s underwriting department at the time of acceptance, provided that Merchant shall have performed all of his obligations related to the issuance of said qualified instrument and is compliant with Section 11.1 and 11.
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PAYMENT COVERAGE. If the Payment Guarantee is invoked by Merchant, Company’s authorized designee will provide funds for the monthly payment to Merchant on behalf of Customer until the account is paid in full or the Maximum Guarantee Amount is paid in full, whichever comes first. To invoke Payment Guarantee, merchant shall provide: 1. Copy of Customer or Account Holder’s signature on contract. 2. Copy of Customer or Account Holder’s valid government issued identification. The name on the identification and Customer payment method must match. Company may adjust the terms of Guarantee payments to merchant. Company will not honor Guarantee payments if fraud on the part of the Merchant occurs.
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Related to PAYMENT COVERAGE

  • Basic Coverage Contractor shall provide and maintain at the JBE’s discretion and Contractor’s expense the following insurance during the Term:

  • Interest Coverage The Company will not permit the ratio of Consolidated Adjusted EBITDA to Consolidated Interest Expense (in each case for the Company’s then most recently completed four fiscal quarters) to be less than 2.50 to 1.00 at any time.

  • Minimum Interest Coverage The Borrower will not permit the ratio of EBITDA to Consolidated Interest Expense as at any fiscal quarter end for the four fiscal quarters then ending to be less than 3.00 to 1.0.

  • Benefit Coverage The Company agrees to provide pension and welfare benefits as described in the Company Booklets, benefit plan documents or policies of insurance for the duration of the Agreement.

  • Dependent Coverage For dependent dental coverage, the Employer contributes an amount equal to the lesser of fifty (50) percent of the dependent premium of the State Dental Plan, or the actual dependent premium of the dental plan chosen by the employee.