Return Payments Clause Samples
The Return Payments clause outlines the procedures and obligations for returning funds that were previously paid, typically in situations where an overpayment or erroneous payment has occurred. In practice, this clause specifies the timeframe within which the recipient must return the excess funds and may detail the method of repayment or any interest that may accrue until the amount is returned. Its core function is to ensure that financial errors are promptly corrected, thereby maintaining fairness and accuracy in the parties' financial dealings.
Return Payments. You understand that there may be times when your Payments may be returned by us or to the Service Provider or to you for various reasons including: the account number or account at the Payee is not valid, the Payee address is not valid, the Payee returns or rejects the item, or the account at the Payee has been paid in full or has been turned over to another company or individual. The Online Bill Payment Service shall use commercially reasonable efforts to research and correct the returned payment or void the payment and credit your Account if your Account had been debited. You may receive notification of such occurrences from the Online Bill Payment Service.
Return Payments. If any amounts received by M&T in respect of the Obligations are later required to be returned or repaid by M&T to the Borrower or any other obligor or their respective representatives or successors in interest, whether by court order, settlement or otherwise, in excess of the M&T’s Pro Rata Share of all such amounts required to be returned by all Lenders, each other Lender shall, upon demand by M&T with notice to the Agent, pay to the Agent for the account of M&T, an amount equal to the excess of such Lender’s Pro Rata Share of all such amounts required to be returned by all Lenders over the amount, if any, returned directly by such Lender.
Return Payments. If any payment for camp is returned for any reason, there is a possibility that my child will be dropped from the camp for the remainder of the summer. I will incur a $25.00 charge per return payment. This is in addition to any processing fee my bank may charge.
Return Payments. You understand that there may be times when your Payments may be returned by us or to the Service Provider or to you for various reasons including: the account number or account at the Payee is not valid, the Payee address is not valid, the