Return Draft definition
Return Draft means any of the Processed Drafts of the previous Business Day which the Fund does not want the Bank to honor and which it desires the Bank to return to the presenter on its behalf.
Examples of Return Draft in a sentence
Failure to notify the Bank that any Shareholder Draft other than a Shareholder Draft identified by the Bank as an Exception Draft constitutes a Return Draft by the times set forth in this Section shall be construed as the Fund's authorization to make final settlement for the Shareholder Draft on its behalf.
Sellers shall have the responsibility for preparing and delivering to the Purchaser or, as relevant, Third Party Purchaser a draft of any Transaction Tax Return ("Draft Transaction Tax Return") at least ten (10) Business Days prior to the Applicable Closing Date, or if later, the required filing date for the relevant Transaction Tax Return as prescribed by applicable Law.