COLLECTION OF PAYMENTS definition

COLLECTION OF PAYMENTS. You are hereby contracted and authorized to accept all payments tendered under said managed instrument and to issue receipts therefore, if said payment is not a full payment bringing said managed instrument to a current status, you are instructed to accept said funds tendered unless instructed otherwise in writing. Payments are to be applied in the following order: First to your Managing Agent fees, then as stated in the managed instrument with the full amount paid credited to the managed instrument. If a check or an electronic funds transfer is rejected, due to insufficient funds, or any other reason, a return charge per account will be collected from the payor and retained by the Managing Agent. If you have paid to or on behalf of the undersigned on a rejected check or transfer under these instructions, the undersigned shall immediately reimburse you for those funds paid. The undersigned shall pay to the you any collection costs incurred by the you as Managing Agent. It is further understood that if payments are made to you by negotiable instrument other than cash, no disbursement by you is necessary until said instrument has cleared your ac- count.
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Examples of COLLECTION OF PAYMENTS in a sentence

  • COLLECTION OF PAYMENTS I acknowledge that insurance coverage is an agreement between the insurance carrier and myself.

  • TEMPORARY AUTHORITY FOR WAIVER OF COLLECTION OF PAYMENTS DUE FOR CHAMPUS BENEFITS RECEIVED BY DISABLED PERSONS UNAWARE OF LOSS OF CHAMPUS ELIGIBILITY.

  • TAKING ASSIGNMENTS OF AND UNDERTAKING DIRECT COLLECTION OF PAYMENTS FROM OR ENFORCEMENT OF RIGHTS AGAINST CONSUMERS ARISING FROM SUPERVISED LOANS.

  • VENDOR ACKNOWLEDGES AND AGREES THAT XX.XXXX IS NOT THE BUYER OR PURCHASER OF THE PRODUCTS OR SERVICES SOLD BY VENDOR THROUGH ITS USE OF THE PLATFORM, AND THAT ACCORDINGLY, (I) XX.XXXX IS NOT RESPONSIBLE FOR, AND FULLY DISCLAIMS ALL LIABILITIES FOR, THE COLLECTION OF PAYMENTS FOR SUCH PRODUCTS OR SERVICES TO THE FULLEST EXTENT PERMISSIBLE UNDER APPLICABLE LAW; AND (II) VENDOR AGREES TO LOOK SOLELY TO THE PURCHASER OF THE APPLICABLE PRODUCT OR SERVICE FOR ANY SUCH CLAIM FOR PAYMENT.

  • TAKES ASSIGNMENTS OF AND UNDERTAKES DIRECT COLLECTION OF PAYMENTS FROM, OR ENFORCEMENT OF RIGHTS AGAINST, CONSUMERS ARISING FROM CONSUMER CREDIT SALES OR CONSUMER LEASES.(2) THIS PART 2 DOES NOT APPLY TO SUPERVISED LENDERS DESCRIBED IN SECTION 5-1-301 (46), PERSONS MAKING CONSUMER LOANS DESCRIBED IN SECTION 5-1-301 (15), OR TO PERSONS LICENSED AS COLLECTION AGENCIES PURSUANT TO ARTICLE 14 OF TITLE 12, C.R.S.(3) SECTIONS 5-6-203 (5) AND 5-6-204 OF THIS PART 2 APPLY TO ALL FEES COLLECTED UNDER THIS CODE.

  • Accepts and evaluates the requirements of the creditors the check/s and tax certificate/s COLLECTION OF PAYMENTS FOR ACCREDITATION AND TRAINING/PARTICIPATION FEES/BID DOCUMENTSCollectibles in cash or check from the Department of Tourism Stakeholders as payment for Accreditation and Training, Participation Fees and Bid Documents shall be made through an issuance of Order of Payment from the Accreditation Office and/or Accounting Division.

  • However, the District may set standards for situations in which the financial interest is not substantial or the gift is an unsolicited item of nominal value.

  • TAKES ASSIGNMENTS OF AND UNDERTAKES DIRECT COLLECTION OF PAYMENTS FROM, OR ENFORCEMENT OF RIGHTS AGAINST, CONSUMERS ARISING FROM CONSUMER CREDIT SALES OR CONSUMER LEASES.(2) This part 2 does not apply to supervised lenders described in section 5-1-301 (46), persons making consumer loans described in section 5-1-301 (15), or to persons licensed as collection agencies pursuant to article 14 of title 12, C.R.S.(3) Sections 5-6-203 (5) and 5-6-204 of this part 2 apply to all fees collected under this code.

  • THE PARTIES WOULD HAVE HAD A RIGHT OR OPPORTUNITY TO LITIGATE DISPUTES THROUGH A COURT BUT HAVE AGREED TO RESOLVE DISPUTES THROUGH BINDING ARBITRATION, EXCEPT THAT THE TITLE LENDER MAY CHOOSE AT TITLE LENDER’S SOLE OPTION TO SEEK COLLECTION OF PAYMENT(S) DUE IN COURT RATHER THAN THROUGH ARBITRATION.

  • COLLECTION OF PAYMENTS AND INCOME FOR THE ACCOUNT Custodian shall, either directly or through its Qualified Sub-Custodians, promptly collect all dividends, income, principal, proceeds from transfer, and other payments with respect to securities held hereunder to which the Account, Fund Accounts or Manager Sub-Accounts shall be entitled.

Related to COLLECTION OF PAYMENTS

  • Priority of Payments The meaning specified in Section 11.1(a).

  • Schedule of Payments means the schedule of payments disclosed on a Contract.

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

  • Special Payments Account Means, with respect to the Class A Certificates, the account or accounts created and maintained for such series pursuant to Section 4.01(b) of the Basic Agreement (as modified by Section 7.01(c) of this Trust Supplement) and this Trust Supplement.

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

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

  • Policy Payments Account means a separate special purpose trust account that is an Eligible Account, for the benefit of Holders of the Notes and the Credit Enhancer over which the Indenture Trustee has exclusive control and sole right of withdrawal.

  • Tariff Payment means the payments to be made under Monthly Bills as referred to in Article 10 and the relevant Supplementary Bills;

  • Exchange Note Collection Account means the account established under Section 4.1(a) of the Servicing Supplement.

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

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

  • Debit Payment means a particular transaction where a debit is made.

  • Loan Payments means the amounts required to be paid by the Company in repayment of the Loan pursuant to Section 4.1 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.

  • Master Servicer Collection Account The trust account or accounts created and maintained pursuant to Section 4.02, which shall be denominated "Xxxxx Fargo Bank, N.A. as Master Servicer for HSBC Bank USA, National Association, as Trustee f/b/o holders of Xxxxxxx Xxxxx Mortgage Investors, Inc., Mortgage Pass-Through Certificates, MANA Series 2007-OAR4 - Master Servicer Collection Account." The Master Servicer Collection Account shall be an Eligible Account.

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

  • Note Payment Account means the account established and maintained as such pursuant to Section 4.1(b).

  • Certificate Payment Account means the account established and maintained as such pursuant to Section 4.1(c).

  • Guaranty of Payment means each Guaranty of Payment executed and delivered on or after the Closing Date in connection with this Agreement by the Guarantors of Payment, as the same may from time to time be amended, restated or otherwise modified.

  • Servicer Prepayment Charge Payment Amount The amounts payable by the Servicer in respect of any waived Prepayment Charges pursuant to Section 2.05 or Section 3.01.

  • Servicing Advance Reimbursement Amounts As defined in Section 3.22.

  • Advance Payments means the payments made by Customer in advance of delivery with respect of an Aircraft pursuant to Section 4.2 of the Purchase Agreement.

  • Master Servicer Prepayment Charge Payment Amount The amounts payable by the Master Servicer pursuant to Section 2.03(b) in respect of any waived (or, with respect to subsequent changes of law, any unenforceable) Prepayment Charges.

  • Payments has the meaning set forth in Section 8.11.

  • Principal Collection Account A Securities Account created and maintained on the books and records of the Securities Intermediary entitled “Principal 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.

  • Prepayment Charges Any prepayment premium or charge payable by a Mortgagor in connection with any Principal Prepayment on a Mortgage Loan pursuant to the terms of the related Mortgage Note or Mortgage, as applicable.