Uncashed Funds Clause Samples
Uncashed Funds. As of the date of termination of the Agreement and during the Run-Off Period, any outstanding funds that are or become "stale" (over 365 days old), less any amount(s) owed by payees to Claim Administrator from such funds, will be escheated by Claim Administrator on Employer’s behalf to the state of payee’s last known address in accordance with Claim Administrator’s established procedures and/or the applicable state’s unclaimed property law.
Uncashed Funds. “Uncashed Funds” are funds associated with checks sent to Settlement Class Members that remain uncashed after the 180-day check cashing period referenced in Paragraph 24, above. One hundred percent (100%) of the Uncashed Funds shall be transferred to the unclaimed property fund managed by the State of Washington in the name of the Settlement Class Member whose check remained uncashed and/or undeliverable pursuant to the Washington State Unclaimed Property Act (RCW 63.29, et seq.).