Positive Pay File definition

Positive Pay File means an electronic file prepared daily by the Customer that identifies checks authorized by the Customer for payment. A Positive Pay File includes a list of check numbers by date with corresponding exact dollar amounts issued by the Customer since the date of the Customer's last Positive Pay File submission to the Bank.
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Positive Pay File means a cumulative list of all checks, uploaded by you through use of the System to us, which have been issued by you but have not been presented and are otherwise approved for payment under this Agreement.
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Positive Pay File means a list prepared by you and timely delivered to the Bank which:
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Examples of Positive Pay File in a sentence

  • The Bank shall only use the Check Positive Pay File and Exception Check Report that complies with paragraph 29.a.1, provided that either one or both has not been revoked by Customer in accordance with paragraph 29.1.v. in the handling of Presented Checks under this Agreement.

  • Only those checks listed on a validly prepared and uploaded Check Positive Pay File will be part of the Check Positive Pay Service.

  • Customer agrees to be bound by any Check Positive Pay File and Check Positive Pay Return Items File, whether or not authorized by Customer that is issued in its name and accepted by us in accordance with this Agreement and the security procedures.

  • It is not designed to compare Customer’s Check Positive Pay File against items that are presented in any other manner (e.g., at a teller window, through an automated teller machine, or by mail).

  • At the Bank’s sole discretion, it may attempt to compare Customer’s Check Positive Pay File with such items; however, the Bank will not be liable for any failure or refusal to do so.

  • Any Check Positive Pay File uploaded after the Check Positive Pay Upload File Cut-Off set forth in Section 19 on a business day may not be included with the Bank’s end-of-day processing until the next business day.

  • Also, the comparison will be done only against the checks that are on the Check Positive Pay File.

  • If there are checks presented to the Bank on or as of that business day that do not match the check information as set forth in Customer’s Check Positive Pay File, the Bank will notify Customer of these mis-matched checks through Customer’s online access on the “Check Positive Pay History page.” The Bank will make the Check Positive Pay History page available to Customer each business day that the Bank receives presented checks through the System.

  • Customer agrees that the Bank will not be obligated to verify the authenticity of any check that matches the check information listed in Customer’s Check Positive Pay File.

  • If the Bank honors a Presented Check that is listed on a Check Positive Pay File, such honor shall be rightful, and the Customer waives any right it may have to assert that the Presented Check was not properly payable under Section 4- 401.


More Definitions of Positive Pay File

Positive Pay File means the file of checks submitted by Company through Positive Pay for processing.
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Related to Positive Pay File

  • DRS/Profile means the system for the uncertificated registration of ownership of securities pursuant to which ownership of ADSs is maintained on the books of the Depositary without the issuance of a physical certificate and transfer instructions may be given to allow for the automated transfer of ownership between the books of DTC and the Depositary. Ownership of ADSs held in DRS/Profile is evidenced by periodic statements issued by the Depositary to the Holders entitled thereto.

  • Individual account program means the defined contribution individual account program of

  • Class Year Study means a Class Year Interconnection Facilities Study as that term is defined in OATT Section 25 (OATT Attachment S).

  • Upper-Tier Distribution Account A subaccount of the Distribution Account, which shall be an asset of the Trust Fund and the Upper-Tier REMIC.

  • Positive beam limitation means the automatic or semi-automatic adjustment of an x-ray beam to the size of the selected image receptor, whereby exposures cannot be made without such adjustment.