Common use of Returned Cheques Clause in Contracts

Returned Cheques. For any Settlement Cheque returned to the Settlement Administrator as undeliverable (including, but not limited to, when the intended recipient is no longer located at the address), the Settlement Administrator shall make reasonable efforts to locate a valid address and resend the Settlement payment within thirty (30) days after the Settlement Cheque is returned to the Settlement Administrator as undeliverable. In attempting to locate a valid address, the Settlement Administer is authorized to send by mail and if available an e-mail and/or place a telephone call to that Settlement Class Member to obtain updated address information. Any replacement Settlement Cheques issued to Settlement Class Members shall remain valid and negotiable for sixty (60) days from the date of their issuance and may thereafter automatically be canceled if not cashed by the Settlement Class Members within that time.