Collection of Items definition

Collection of Items. We act only as your agent and we are not responsible for handling items for deposit or collection beyond the exercise of ordinary care. Deposits made by mail or at unstaffed facilities are not our responsibility until we receive them. We are not liable for the negligence of any correspondent, or for loss in transit, and each correspondent will only be liable for its own negligence. We may send any item for collection. Items drawn on an in- stitution located outside the United States are handled on a collection basis only. You waive any notice of nonpayment, dishonor or protest regarding items we purchase or receive for credit or collection to your account.
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Examples of Collection of Items in a sentence

  • TRANSFERS OR DEPOSITS TO YOUR ACCOUNT(S) Deposit and Collection of Items.

  • Collection of Items In receiving items for deposit or collection, LGFCU acts only as your collecting agent and assumes no responsibility beyond the exercise of due care.

  • Collection of Items When receiving items for deposit or collection, we act as your agent to collect the money from the bank or other party obligated to pay it.

  • Collection of Items We act only as your agent and we are not responsible for handling items for deposit or collection beyond the exercise of ordinary care.

  • Collection of Items In receiving items for deposit or collection, Bank acts as your collection agent and assumes no responsibility beyond the exercise of due care.

  • Collection of Items So long as we exercised reasonable care, we are not liable for handling items for deposit or collections, as we serve only as your agent.

  • Collection of Items We shall not be responsible for deposits made by mail, at an ATM or at an unstaffed facility until we actually receive it.

  • Collection of Items: We act only as your agent and we are not responsible for handling items for deposit or collection beyond the exercise of ordinary care.

  • Collection of Items is also subject to the RDC Rules and the Terms of the Bank’s Deposit Account Agreement.

  • Collection of Items is also subject to the terms of Bank’s Deposit Agreement.

Related to Collection of Items

  • Termination of irradiation means the stopping of irradiation in a fashion which will not permit continuance of irradiation without the resetting of operating conditions at the control panel.

  • Costs of Collection Includes, without limitation, all reasonable attorneys’ fees and reasonable out-of-pocket expenses incurred by any Agent’s attorneys, and all reasonable out-of-pocket costs incurred by any Agent in the administration of the Liabilities and/or the Loan Documents, including, without limitation, reasonable costs and expenses associated with travel on behalf of any Agent, where such costs and expenses are directly or indirectly related to or in respect of any Agent’s: administration and management of the Liabilities; negotiation, documentation, and amendment of any Loan Document; or efforts to preserve, protect, collect, or enforce the Collateral, the Liabilities, and/or the Agents’ Rights and Remedies and/or any of the rights and remedies of any Agent against or in respect of any guarantor or other person liable in respect of the Liabilities (whether or not suit is instituted in connection with such efforts). “Costs of Collection” also includes the reasonable fees and expenses of Lenders’ Special Counsel. The Costs of Collection are Liabilities, and at the Administrative Agent’s option may bear interest at the then effective Base Margin Rate.

  • Interruption of irradiation means the stopping of irradiation with the possibility of continuing irradiation without resetting of operating conditions at the control panel.

  • Calculation of Interest Interest on the Notes (including interest for partial periods) will be calculated on the basis of a 360-day year of twelve 30-day months. (Examples of interest calculations are as follows: October 1, 1998 to April 1, 1999 equals 6 months and 0 days, or 180 days; the interest paid equals 180/360 times the annual rate of interest times the principal amount of the Note. The period from December 3, 1998 to April 1, 1999 equals 3 months and 28 days, or 118 days; the interest payable equals 118/360 times the annual rate of interest times the principal amount of the Note.)

  • Collection Accounts As defined in Section 3.10(a).

  • Collection Report means the monthly report prepared by the Primary Servicer setting forth, with respect to each Mortgage Loan and the most recently ended Collection Period prior to the due date of such report, the information described on Exhibit G attached hereto.

  • Collections means all cash, checks, notes, instruments, and other items of payment (including insurance proceeds, proceeds of cash sales, rental proceeds, and tax refunds).

  • Finance Charge Receivables means Receivables created in respect of periodic finance charges, late fees, returned check fees and all other similar fees and charges billed or accrued and unpaid on an Account.

  • Collection Bank means, at any time, any of the banks holding one or more Collection Accounts.

  • Collection site means the location of waste containers on collection day.

  • Collections Account has the meaning given to such term in Section 3.01(a) hereof.

  • Prepayment Charge Schedule As of any date, the list of Prepayment Charges included in the Trust Fund on such date, attached hereto as Schedule 2 (including the prepayment charge summary attached thereto). The Prepayment Charge Schedule shall set forth the following information with respect to each Prepayment Charge:

  • Net Collections With respect to any Corrected Mortgage Loan, an amount equal to all payments on account of interest and principal on such Mortgage Loan.

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • data collection means the collection and verification of meter reading data from natural gas meters; “data transfer” means the transfer of metered data to the GPRO;

  • Servicing Accounts The account or accounts created and maintained pursuant to Section 3.08.

  • Collection Point means the collection point for the Vehicle specified in the Confirmation and/or Rental Agreement;

  • Monthly Servicing Report shall have the meaning attributed to such term in the Servicing Agreement.

  • Collection Account Agreement means an agreement substantially in the form of Exhibit VI among Originator, Seller, the Agent and a Collection Bank.

  • Available Collections means, for any Distribution Date, (i) all Obligor payments received with respect to the Receivables during the preceding Collection Period, (ii) all Liquidation Proceeds received with respect to the Receivables during the preceding Collection Period, (iii) all interest earned on funds on deposit in the Collection Account during the preceding Collection Period, (iv) the aggregate Purchase Amount deposited in the Collection Account on the Business Day preceding such Distribution Date, (v) all prepayments received with respect to the Receivables during the preceding Collection Period attributable to any refunded item included in the Amount Financed (including amounts received as a result of rebates of extended service plan contract costs and insurance premiums and proceeds received under physical damage, theft, GAP, credit life and credit disability insurance policies), and (vi) all Simple Interest Advances deposited into the Collection Account by the Servicer on the Business Day preceding such Distribution Date; provided, however, that Available Collections for any Distribution Date shall not include any payments or other amounts (including Liquidation Proceeds) received with respect to any Purchased Receivable the Purchase Amount for which was included in Available Collections for a previous Distribution Date; provided further, that Available Collections for any Distribution Date shall not include any payments or other amounts (including Liquidation Proceeds) received with respect to any Receivable to the extent that the Servicer has made an unreimbursed Simple Interest Advance with respect to such Receivable and is entitled to reimbursement from such payments or other amounts pursuant to Section 4.4 of the Sale and Servicing Agreement; and, provided further, that Available Collections for any Distribution Date shall not include any payments or other amounts (including Liquidation Proceeds) received with respect to the Receivables that are retained by the Servicer as reimbursement for Unreimbursed Servicer Advances pursuant to Section 4.4 of the Sale and Servicing Agreement; provided, further, however, that Available Collections for any Distribution Date will exclude any Supplemental Servicing Fees.

  • Collection Costs means an amount that the Municipality can charge with regard to the enforcement of a consumer’s monetary obligations;

  • Collection Account Bank means any of the banks or other financial institutions holding one or more Collection Accounts.

  • Servicing Report has the meaning assigned to that term in Section 6.08(b).

  • Principal Account(s means deposit accounts of the Fund carried on the books of BBH&Co. as principal in accordance with Section 7 hereof.

  • Interest Collection Account A Securities Account created and maintained on the books and records of the Securities Intermediary entitled “Interest Collection Account” in the name of the Borrower and subject to the prior Lien of the Collateral Agent for the benefit of the Secured Parties.