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.
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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.).
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Related to Uncashed Funds

  • Unexpended Funds The Grantee must promptly return to the State any unexpended funds that have not been accounted for annually in a financial report to the State due at grant closeout.

  • Excess Funds Any party receiving funds paid by SBBC under this Agreement agrees to promptly notify SBBC of any funds erroneously received from SBBC upon the discovery of such erroneous payment or overpayment. Any such excess funds shall be refunded to SBBC.

  • Surplus Funds Any surplus funds remaining at the close of each fiscal year will be used to enhance the Charter School’s academic program. Under no circumstances shall any surplus be distributed to the Charter School’s employee(s), board member(s), educational service provider or educational management organization. Nothing in this section shall be construed to prevent the Charter School from setting aside surplus funds in a reserve account or budgeting and awarding performance bonuses as part of their annual operating expenses.