Cancellation and Stop Payment Orders Sample Clauses

Cancellation and Stop Payment Orders i. After a corporate check has been produced or released by the COMPANY, the BANK may implement a stop-payment order (“SPO”) upon the BANK’s receipt of all of the following documents, and provided the same has not yet been negotiated, in accordance with applicable rules and its policies: (i) a properly filled- out SPO request form in the BANK’s format; (ii) written letter of request duly signed by the COMPANY’s authorized signatories for the corporate checks, containing the following details: (u) account name, (v) account number, (w) check number(s), (x) relevant payee’s name, (y) reason for SPO request, and (z) date of SPO request; and (iii) other documents the BANK may request that would enable the BANK to implement the SPO. ii. The COMPANY shall be liable to the BANK for the cost of cancellations or stop payment orders made in respect of the checks, based on the BANK’s prevailing standard fees and charges. a. The COMPANY may avail itself of the RTGS/GSRT Facility for the payment/transfer of funds to accounts opened and maintained with Philippine member financial institutions. The COMPANY may use the Facility by issuing an IBFT Instruction. The COMPANY shall enroll its Accounts in the Facility prior to initiating an IBFT Instruction. b. In initiating an IBFT Instruction, the COMPANY shall indicate the Source Account, the amount to be transferred, the Beneficiary’s name and the Beneficiary Account details in the Facility. The COMPANY acknowledges that the account number matching of the specified Beneficiary Account with the Receiving Institution shall be sufficient for the implementation of the IBFT Instruction. c. The BANK shall process the COMPANY’s IBFT Instructions in accordance with the BANK’s policies and procedures and applicable laws and regulations, including BSP Circular No. 980 and any amendments thereto. d. The COMPANY authorizes the BANK to rely upon and implement the IBFT Instruction received from the COMPANY. For this purpose, the COMPANY holds the BANK free and harmless and shall indemnify the BANK for any expense, loss or damage incurred by the BANK due to the BANK’s reliance on the information provided by the COMPANY and/or for acting upon the COMPANY’s IBFT Instruction, except as otherwise provided in Section 10 (Limitation of Liability/Indemnity). e. The Originating Institution shall debit applicable fee/s from the Source Account. f. There shall be no reversal of completed transactions. When the Originating Institution has debited the ...
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Related to Cancellation and Stop Payment Orders

  • Cancellation and Refunds If you cancel your reservation or change your plans, your right to receive a refund is limited, as set forth in the following schedule. All cancellations will become effective as of the date of the postmark or email receipt. All requests for refunds must be sent to Air Journey in writing via mail, fax or email. Refunds, if applicable, will be made within 14 days of receipt of your notice of cancellation.

  • Cancellation of Orders If payment for shares purchased is not received within the time customary or the time required by law for such payment, the sale may be canceled without notice or demand, and neither FTDI nor the Fund(s) shall have any responsibility or liability for such a cancellation; alternatively, at FTDI's option, the unpaid shares may be sold back to the Fund, and Bank shall be liable for any resulting loss to FTDI or to the Fund(s). FTDI shall have no liability for any check or other item returned unpaid to Bank after Bank has paid FTDI on behalf of a purchaser. FTDI may refuse to liquidate the investment unless FTDI receives the purchaser's signed authorization for the liquidation.

  • Cancellation of the Contract You are responsible for paying the full Contract Rate for the entire Contract Period, unless the Contract is canceled in accordance with one of the provisions below. Depending on when and how the Contract is canceled, you may owe the University a Cancellation Fee. The “Cancellation Fee” charged by the University constitutes an amount that will compensate the University for the costs it will incur and/or losses it will suffer as a result of your cancellation, which costs and losses are difficult to quantify. As provided in Section III.e. above, your Deposit may be used to partially defray the Cancellation Fee.

  • Cancellation Terms The contract is concluded between the member and the Caisse two (2) business days following the member's receipt of this agreement (the "Effective Date"). The member is deemed to have received this agreement five (5) business days after it has been mailed or after the date of receipt in AccèsD, as applicable. Unless the member notifies the Caisse in writing within three (3) business days of the contract's Effective Date (the "Cancellation Deadline"): (i) that the information shown on the agreement is not in accordance with his/her request, or (ii) that he/she does not accept all of the terms and conditions applicable to this agreement the member shall be deemed to have provided the instructions indicated in this agreement and to have accepted all conditions described herein. If the member cancels the agreement before the Cancellation Deadline, the initial deposit invested by the member will be returned to him/her in full and without fees or interest.

  • Cancellation and Termination a) The exhibitor shall have the right to cancel this license agreement or downsize by notice in writing to be delivered to MPE. All deposits/payments received by MPE up to the date of notice of cancellation or downsize are non-refundable and non-transferable and the balance of the full cost of the space is due immediately. In the event that the Exhibitor (i) fails to make payments in accordance with the payment schedule setout herein or (ii) fails to appear at the show; MPE reserves the right to cancel this license agreement without notice and all rights of the Exhibitor hereunder shall cease and terminate. MPE will retain any and all deposits/payment(s) made by the Exhibitor as liquidated damages (and not as a penalty) for breach of this license agreement and all payments will be due per the terms of the contract. In the event of either of the above circumstances, MPE has the right to (i) re-rent said space and (ii) bring action against the Exhibitor for payment of the full cost of the space originally licensed from MPE. b) If the Exhibitor violates or breaches any other terms or conditions of this license agreement, all payments made by the Exhibitor and all amounts due to MPE shall be deemed earned by MPE and all deposits received shall be non-refundable and non-transferable. In the event of any violation or breach of the terms and conditions of this license agreement, MPE shall have the right to immediately occupy the space of the violating and/or breaching Exhibitor and utilize it in any manner as MPE deems appropriate, including, but not limited to, re-licensing its use to another exhibitor. The Exhibitor shall not be entitled to any offset or mitigation of the amount due under this license agreement as a result of the use of or payment for the space by another exhibitor in the Show. c) Each covenant by the Exhibitor contained herein is material and of the essence of this license agreement and violation of any term or condition hereof by the Exhibitor shall be a default of the entire agreement entitling MPE to immediately and without notice revoke the privileges granted to the Exhibitor and take possession of the space of the defaulting Exhibitor. Any such revocation of the license granted herein shall be without prejudice to MPE to make any claim for damages or enforcement of the payment of any amounts due pursuant to the terms hereof.

  • Cancellations and Refunds Our cancellation policy is as flexible and understanding as possible. All our bookings are received well in advance of trip departures and other people may have been turned away because kayaks have been reserved. Cancellations due to weather will be determined by a Saltwater Soul associate on the day of your reservation. If cancellation is due to weather or safety concerns, we will attempt to rebook you. You will be issued a full refund if you are unable to rebook. All cancellations by guest need to be made 24 hours in advance for a full refund. Cancellations made less than 24 hours from reservation will result in a 50% refund.

  • Cancellation and Suspension This Agreement shall come into force and effect on the date upon which the Loan Agreement becomes effective.

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