Common use of Checks Deposited and Security Interest Clause in Contracts

Checks Deposited and Security Interest. You hereby agree that you will only scan and deposit a check(s) as that term is defined in Federal Reserve Board Regulation CC (“Reg CC”). You agree that the image of the check that is transmitted to us (each such check and other item a “Check” and, if more than one, “Checks”) shall be deemed an “item” within the meaning of Article 4 of the Uniform Commercial Code (1990 Official Text). You further agree that you will not remotely deposit any checks or other item that: (a) are payable to any person or entity other than you, (b) are drawn, or otherwise issued, by you on any account of yours maintained at another financial institution, (c) are prohibited by our then current procedures pertaining to the Remote Deposit Service (the “Procedures”) or are in violation of any law, rule or regulation, (d) you know or suspect, or should know or suspect, is fraudulent or otherwise not authorized by the owner of the account on which the Check is drawn, (e) have not been previously endorsed by a bank and are either “substitute checks” (as defined in Reg CC or other applicable federal law or regulation) or “image replacement documents” that purport to be substitute check, without our prior written consent, (f) are drawn on financial institutions that are located outside of the United States or Territories of the United States, or (g) which are not acceptable to us for deposit into a deposit account as provided in the Deposit Agreement, which is incorporated herein by reference and made a part hereof (Checks described in clauses (a) through (g) each a “Prohibited Check” and, collectively, “Prohibited Checks”). If you deposit a Prohibited Check, you agree to indemnify and reimburse us for, and hold us harmless from and against, any and all losses, costs and expenses (including reasonable attorney’s fees) we may incur associated with any warranty, indemnity or other claim related thereto. Furthermore, if, after first having obtained our written consent to do so, you provide us with an electronic representation of a substitute check for deposit into an Account instead of an original Check, you agree to indemnify and reimburse us for, and hold us harmless from and against, any and all losses, costs and expenses (including reasonable attorney’s fees) we incur because any such substitute check resulting from such electronic representation does not meet applicable substitute check standards and/or causes duplicate payments. You grant us a security interest in all Accounts or other deposits (whether general or special) you maintain with us, and in all funds in such Accounts or other deposits, to secure your obligations to us under this Agreement. This security interest will survive termination of this Agreement.

Checks Deposited and Security Interest. You Member hereby agree agrees that you it will only scan and deposit a check(s) as that term is defined in Federal Reserve Board Regulation CC (“Reg CC”). You agree Member agrees that the image of the check that is transmitted to us Nusenda (each such check and other item a “Check” and, if more than one, “Checks”) shall be deemed an “item” within the meaning of Article 4 of the Uniform Commercial Code (1990 Official Text)as in effect in New Mexico. You Member further agree agrees that you it will not remotely deposit any checks check(s) or other item item(s) that: (a) are payable to any person or entity other than youMember, (b) are drawn, or otherwise issued, by you Member or any affiliate of Member on any account of yours maintained at another financial institutionMember or of such affiliate, (c) are prohibited by our Nusenda’s then current procedures pertaining to the Remote Deposit Service (the “Procedures”) or are in violation of any law, rule or regulation, (d) you know Member knows or suspectsuspects, or should know or suspect, is fraudulent or otherwise not authorized by the owner of the account on which the Check is drawn, (e) have not been previously endorsed by a bank Nusenda and are either “substitute checks” (as defined in Reg CC or other applicable federal law or regulation) or “image replacement documents” that purport to be substitute checkchecks, without our Nusenda’s prior written consent, (f) are drawn on financial institutions that are located outside of the United States or Territories of the United States, (g) is a Remotely Created Check, as that term is defined in Reg CC, (h) any single item or combination of items totaling $10,000 or more per business day, or (gi) which are not acceptable to us Nusenda for deposit into a deposit account as provided in the Deposit Agreement, which is incorporated herein by reference and made a part hereof (Checks described in clauses (a) through (gh) each a “Prohibited Check” and, collectively, “Prohibited Checks”). If you deposit Member deposits a Prohibited Check, you agree Member agrees to indemnify and reimburse us Nusenda for, and hold us Nusenda harmless from and against, any and all losses, costs and expenses (including reasonable attorney’s attorneys fees) we Nusenda may incur associated with any warranty, indemnity or other claim related thereto. Furthermore, if, after first having obtained our Nusenda’s written consent to do so, you provide us Member provides Nusenda with an electronic representation of a substitute check for deposit into an Account instead of an original Check, you agree Member agrees to indemnify and reimburse us Nusenda for, and hold us Nusenda harmless from and against, any and all losses, costs and expenses (including reasonable attorney’s attorneys fees) we incur Nusenda incurs because any such substitute check resulting from such electronic representation does not meet applicable substitute check standards and/or causes duplicate payments. You grant us Member grants Nusenda a security interest in all Accounts or other deposits (whether general or special) you maintain with usof Member’s at Nusenda, and in all funds in such Accounts or other deposits, to secure your Member’s obligations to us Nusenda under this Agreement. This security interest will survive termination of this Agreement. Nusenda may hold any funds on deposit with Nusenda by Member after termination of this Agreement for up to 14 calendar days following the expiration of any return or chargeback rights regarding any Item processed by Member using the Service or, if later, until any other claims to such funds have expired. Member may be required to maintain a reserve (“Settlement Reserve”) of an amount to be solely determined by the Nusenda. Member acknowledges and agrees that any Settlement Reserve will be deposited in a Nusenda account for exclusive use by the Nusenda for purposes of offsetting any of Member’s obligations under this Agreement. Member grants the Nusenda a security interest in any Settlement Reserve to enable the Nusenda to enforce any obligation owed by Member under this Agreement without notice or demand to Member. Member’s obligation to maintain a Settlement Reserve shall survive the termination of this Agreement, with such obligation lasting until all of Member’s obligations under this Agreement have been fully offset.

Checks Deposited and Security Interest. You hereby agree that you will only scan and deposit a check(s) as that term is defined in Federal Reserve Board Regulation CC (“Reg CC”). You agree that the image of the check that is transmitted to us Bank (each such check and other item a “Check” and, if more than one, “Checks”) shall be deemed an “item” within the meaning of Article 4 of the Uniform Commercial Code (1990 Official Text). You further agree that you will not remotely use the Mobile Deposit Service to deposit any checks Checks or other item items that: (a) are payable to any person or entity other than you, (b) are drawn, or otherwise issued, by you on any account of yours you maintained at another financial institution, (c) are prohibited by our Bank’s then current procedures Procedures pertaining to the Remote Mobile Deposit Service (the “Procedures”) or are in violation of any law, rule or regulation, (d) you know or suspect, or should know or suspect, is fraudulent or otherwise not authorized by the owner of the account on which the Check is drawn, (e) have not been previously endorsed by a bank and are either “substitute checks” (as defined in Reg CC or other applicable federal law or regulation) or “image replacement documents” that purport to be substitute checkchecks, without our Bank’s prior express written consent, (f) are drawn on financial institutions that are located outside of the United States or Territories of the United States, or and (g) which are not acceptable to us Bank for deposit into a deposit account as provided in the Deposit Account Agreement, which is incorporated herein by reference and made a part hereof (Checks described in clauses (a) through (g) each a “Prohibited Check” and, collectively, “Prohibited Checks”). If you deposit a Prohibited Check, you agree to indemnify and reimburse us Bank for, and hold us Bank harmless from and against, any and all losses, costs and expenses (including reasonable attorney’s attorneys’ fees) we Bank may incur associated with any warranty, indemnity or other claim related thereto. Furthermore, if, after first having obtained our Bank’s express written consent to do so, you provide us Bank with an electronic representation of a substitute check for deposit into an Account instead of an original Check, you agree to indemnify and reimburse us Bank for, and hold us Bank harmless from and against, any and all losses, costs and expenses (including reasonable attorney’s fees) we incur Bank incurs because any such substitute check resulting from such electronic representation does not meet applicable substitute check standards and/or causes duplicate payments. You grant us Bank a security interest in all Accounts or other deposits (whether general or special) you maintain with usof yours at the Bank, and in all funds in such Accounts or other deposits, to secure your obligations to us Bank under this Agreement. This security interest will survive termination of this Agreement.

Checks Deposited and Security Interest. You When using the Mobile Deposit Service, you hereby agree that you will only scan and deposit a check(s) check as that term is defined in Federal Reserve Board Regulation CC (“Reg CC”). You agree that the image of the check that is transmitted to us (each such check and other item a “Check” and, if more than one, “Checks”) ). You cannot deposit money orders using the Mobile Deposit Service. You agree that the Check Images of the Check that are transmitted to us shall be deemed an “item” within the meaning of Article 4 of the Uniform Commercial Code (1990 Official Text). You further agree that you will not remotely use the Mobile Deposit Service to deposit any checks or other item Checks that: (a) are payable to any person or entity other than youthe Deposit Account owner, (b) are drawn, or otherwise issued, by you on any account of yours maintained at another financial institution, (c) are prohibited by our then current procedures Procedures pertaining to the Remote Mobile Deposit Service (the “Procedures”) or are in violation of any law, rule or regulation, (d) you know or suspect, or should know or suspect, is are fraudulent or otherwise not authorized by the owner of the account on which the Check is Checks are drawn, (e) have not been previously endorsed by a bank (or other institution) and are either “substitute checks” (as defined in Reg Regulation CC or other applicable federal law or regulation) or “image replacement documents” that purport to be substitute checkchecks, without our prior written consent, (f) are drawn on financial institutions that are located outside of the United States or Territories territories of the United States, or (g) which are not payable in US Dollars, and (h) are not acceptable to us for deposit into a deposit account Deposit Account as provided in the Deposit Agreement, which is incorporated herein by reference and made a part hereof Account Documentation (Checks described in clauses (a) through (gh) each a “Prohibited Check” and, collectively, “Prohibited Checks”). If you deposit a Prohibited Check, you agree to indemnify and reimburse us for, and hold us harmless from and against, any and all losses, costs and expenses (including reasonable attorney’s attorneys fees) we may incur associated with any warranty, indemnity or other claim related thereto. Furthermore, if, after first having obtained our written consent to do so, you provide us with an electronic representation of a substitute check for deposit into an Account instead of an original Check, you agree to indemnify and reimburse us for, and hold us harmless from and against, any and all losses, costs and expenses (including reasonable attorney’s fees) we incur because any such substitute check resulting from such electronic representation does not meet applicable substitute check standards and/or causes duplicate payments. You grant us a security interest in all Deposit Accounts or other deposits (whether general or special) you maintain with usof yours at Wings, and in all funds in such Deposit Accounts or other deposits, to secure your obligations to us under this AgreementAddendum. This security interest will survive termination of this AgreementAddendum.

Checks Deposited and Security Interest. You Customer hereby agree agrees that you it will only scan and deposit a check(s) as that term is defined in Federal Reserve Board Regulation CC (“"Reg CC”"). You agree Customer agrees that the image of the check that is transmitted to us Bank (each such check and other item a “"Check” " and, if more than one, “"Checks”") shall be deemed an “"item” " within the meaning of Article Articles 3 and 4 of the Uniform Commercial Code (1990 Official Text)Code. You Customer further agree agrees that you it will not remotely deposit any checks Check or other item that: (a) are payable to any person or entity other than youCustomer, (b) are drawn, or otherwise issued, by you Customer on any account of yours on which Customer is an authorized signer and maintained at Bank or at another financial institution, (c) are prohibited by our then current procedures pertaining to the Remote Deposit Service (the “Procedures”) Bank or are in violation of any law, rule or regulation, (d) you know Customer knows or suspectsuspects, or should know or suspect, is fraudulent or otherwise not authorized by the owner of the account on which the Check is drawn, (e) have not been previously endorsed by a bank and are either “"substitute checks” " (as defined in Reg CC or other applicable federal law or regulation) or “"image replacement documents” " that purport to be substitute checkchecks, without our Bank's prior written consent, (f) are drawn on financial institutions that are located outside of the United States or Territories of the United States, or (g) which are not acceptable to us Bank for deposit into a deposit account as provided in the Deposit Agreement, which is incorporated herein by reference and made a part hereof of this Agreement (Checks described in clauses (ah) through (g) each a “Prohibited Check” andare payable jointly, collectively, “Prohibited Checks”). If you deposit a Prohibited Check, you agree to indemnify and reimburse us for, and hold us harmless from and against, any and all losses, costs and expenses (including reasonable attorney’s fees) we may incur associated with any warranty, indemnity or other claim related thereto. Furthermore, if, after first having obtained our written consent to do so, you provide us with an electronic representation of a substitute check for deposit unless deposited into an Account instead account in the name of an original Checkall payees, you agree (i) are dated more than 6 months prior to indemnify and reimburse us forthe date of deposit, and hold us harmless from and against(j) have been previously submitted through Remote Deposit Services or through a remote deposit capture service at any other financial institution, (k) have been dishonored or returned to Customer unpaid for any and all lossesreason, costs and expenses (including reasonable attorney’s feesl) we incur because any such substitute check resulting from such electronic representation does not meet applicable substitute check standards and/or causes duplicate payments. You grant us a security interest are drawn or otherwise issued by the U.S. Treasury Department (m) are remotely created Checks as defined in all Accounts or other deposits (whether general or special) you maintain with usRegulation CC, and in all funds in such Accounts or other deposits, to secure your obligations to us under this Agreement. This security interest will survive termination of this Agreement.or

Checks Deposited and Security Interest. You Member hereby agree agrees that you it will only scan capture and deposit a check(s) as that term is defined in Federal Reserve Board Regulation CC (“Reg CC”). You agree Member agrees that the image of the check that is transmitted to us HFCU (each such check and other item a “Check” and, if more than one, “Checks”) shall be deemed an “item” within the meaning of Article 4 of the Uniform Commercial Code (1990 Official Text). You Member further agree agrees that you it will not remotely deposit any checks check(s) or other item item(s) that: (a) are payable to any person or entity other than youMember, (b) are drawn, or otherwise issued, by you Member or any affiliate of Member on any account of yours maintained at another financial institutionMember or of such affiliate, (c) are prohibited by our HFCU’s then current procedures pertaining to the Remote Deposit Service (the “Procedures”) or are in violation of any law, rule or regulation, (d) you know Member knows or suspectsuspects, or should know or suspect, is fraudulent or otherwise not authorized by the owner of the account on which the Check is drawn, (e) have not been previously endorsed by a bank HFCU and are either “substitute checks” (as defined in Reg CC or other applicable federal law or regulation) or “image replacement documents” that purport to be substitute checkchecks, without our HFCU’s prior written consent, (f) are drawn on financial institutions that are located outside of the United States or Territories of the United States, (g) is a Remotely Created Check, as that term is defined in Reg CC, or (gh) which are not acceptable to us HFCU for deposit into a deposit account as provided in the Deposit Agreement, which is incorporated herein by reference and made a part hereof (Checks described in clauses (a) through (gh) each a “Prohibited Check” and, collectively, “Prohibited Checks”). If you deposit Member deposits a Prohibited Check, you agree Member agrees to indemnify and reimburse us HFCU for, and hold us HFCU harmless from and against, any and all losses, costs and expenses (including reasonable attorney’s attorneys fees) we HFCU may incur associated with any warranty, indemnity or other claim related thereto. Furthermore, if, after first having obtained our HFCU’s written consent to do so, you provide us Member provides HFCU with an electronic representation of a substitute check for deposit into an Account instead of an original Check, you agree Member agrees to indemnify and reimburse us HFCU for, and hold us HFCU harmless from and against, any and all losses, costs and expenses (including reasonable attorney’s attorneys fees) we incur HFCU incurs because any such substitute check resulting from such electronic representation does not meet applicable substitute check standards and/or causes duplicate payments. You grant us Member grants HFCU a security interest in all Accounts or other deposits (whether general or special) you maintain with usof Member’s at HFCU, and in all funds in such Accounts or other deposits, to secure your Member’s obligations to us HFCU under this Agreement. This security interest will survive termination of this Agreement. HFCU may hold any funds on deposit with HFCU by Member after termination of this Agreement for up to 14 calendar days following the expiration of any return or chargeback rights regarding any Item processed by Member using the Service or, if later, until any other claims to such funds have expired. Member may be required to maintain a reserve (“Settlement Reserve”) of an amount to be solely determined by the HFCU. Member acknowledges and agrees that any Settlement Reserve will be deposited in a HFCU account for exclusive use by the HFCU for purposes of offsetting any of Member’s obligations under this Agreement. Member grants the HFCU a security interest in any Settlement Reserve to enable the HFCU to enforce any obligation owed by Member under this Agreement without notice or demand to Member. Member’s obligation to maintain a Settlement Reserve shall survive the termination of this Agreement, with such obligation lasting until all of Member’s obligations under this Agreement have been fully offset.

Checks Deposited and Security Interest. You hereby agree that you will only scan take photos (or “images”) and deposit a check(s) as that term is defined in Federal Reserve Board Regulation CC (“Reg Reg. CC”). You agree that the image of the check that is transmitted to us (each such check and other item a “Check” and, if more than one, “Checks”) shall be deemed an “item” within the meaning of Article 4 of the Uniform Commercial Code (1990 Official Text). You further agree that you will not remotely deposit any checks check or other item that: (a) are payable to any person or entity other than you, (b) are drawn, or otherwise issued, by you on any account of yours maintained at another financial institutioninstitution unless you notify and receive permission from us prior to submitting the deposit, (c) are prohibited by our then current procedures User Guide pertaining to the Remote Mobile Deposit Service (the “ProceduresUser Guide”) or are in violation of any law, rule or regulation, (d) you know or suspect, or should know or suspect, is fraudulent or otherwise not authorized by the owner of the account on which the Check is drawn, (e) have not been previously endorsed by a bank Financial Institution and are either “substitute checks” (as defined in Reg CC or other applicable federal law or regulation) or “image replacement documents” that purport to be substitute checkchecks, without our prior written consent, (f) are drawn on financial institutions that are located outside of the United States or Territories of the United States, or (g) which are not acceptable to us for deposit into a deposit account as provided in the Deposit Agreement, which is incorporated herein by reference and made a part hereof (Checks described in clauses (a) through (g) each a “Prohibited Check” and, collectively, “Prohibited Checks”). If you deposit a Prohibited Check, you agree to indemnify and reimburse us for, and hold us harmless from and against, any and all losses, costs and expenses (including reasonable attorney’s fees) we may incur associated with any warranty, indemnity or other claim related thereto. Furthermore, if, after first having obtained our written consent to do so, you provide us with an electronic representation of a substitute check for deposit into an Account instead of an original Check, you agree to indemnify and reimburse us for, and hold us harmless from and against, any and all losses, costs and expenses (including reasonable attorney’s fees) fees we incur because any such substitute check resulting from such electronic representation does not meet applicable substitute check standards and/or causes duplicate payments. You grant us a security interest in all Accounts or other deposits (whether general or special) you maintain with usof yours at United Valley Bank, and in all funds in such Accounts or other deposits, to secure your obligations to us under this Agreement. This security interest will survive termination of this Agreement.

Checks Deposited and Security Interest. You hereby agree that you will only scan and deposit a check(s) as that term is defined in Federal Reserve Board Regulation CC (“Reg CC”). You agree Customer agrees that the image of the check that is transmitted to us Bank (each such check and other item a “Check” and, if more than one, “Checks”) shall be deemed an “item” within the meaning of Article 4 of the Uniform Commercial Code (1990 Official Text). You Customer further agree agrees that you it will not remotely deposit any checks or other item items that: (a) are payable to any person or entity other than youCustomer, (b) are drawn, or otherwise issued, by you Customer or any affiliate of Customer on any account of yours maintained at another financial institutionCustomer or of such affiliate, (c) are prohibited by our Bank’s then current procedures pertaining to the Remote Deposit Service (the “Procedures”) or are in violation of any law, rule or regulation, (d) you know Customer knows or suspectsuspects, or should know or suspect, is fraudulent or otherwise not authorized by the legal owner of the account on which the Check is drawn, (e) have not been previously endorsed by a bank and are either “substitute checks” (as defined in Reg CC or other applicable federal law or regulation) or “image replacement documents” that purport to be substitute checkchecks, without our Bank’s prior written consent, (f) are drawn on financial institutions that are located outside of the United States or Territories of the United States, (g) is a Remotely Created Check, or (gh) which are not acceptable to us Bank for deposit into a deposit account as provided in the Deposit Account Agreement, which is incorporated herein by reference and made a part hereof (Checks described in clauses (a) through (gh) each a “Prohibited Check” and, collectively, “Prohibited Checks”). If you deposit Customer may be required to maintain a Prohibited Check, you agree to indemnify and reimburse us for, and hold us harmless from and against, any and all losses, costs and expenses reserve (including reasonable attorney’s fees“Settlement Reserve”) we may incur associated with any warranty, indemnity or other claim related thereto. Furthermore, if, after first having obtained our written consent to do so, you provide us with an electronic representation of a substitute check for deposit into an Account instead of an original Check, you agree amount to indemnify be solely determined by Bank. Customer acknowledges and reimburse us for, and hold us harmless from and against, agrees that any and all losses, costs and expenses (including reasonable attorneySettlement Reserve will be deposited in a Designated Account for exclusive use by Bank for purposes of offsetting any of Customer’s fees) we incur because any such substitute check resulting from such electronic representation does not meet applicable substitute check standards and/or causes duplicate paymentsobligations under this Section Four. You grant us Customer grants Bank a security interest in all Accounts or other deposits (whether general or special) you maintain with us, and in all funds in such Accounts or other deposits, any Settlement Reserve to secure your obligations enable Bank to us enforce any obligation owed by Customer under this AgreementSection Four without notice or demand to Customer. This security interest will Customer’s obligation to maintain a Settlement Reserve shall survive the termination of this AgreementBusiness Check Express Service, with such obligation lasting until all of customer’s obligations under this Section Four have been fully offset.

Checks Deposited and Security Interest. You hereby agree that you will only scan take photos (or “images”) and deposit a check(s) as that term is defined in Federal Reserve Board Regulation CC (“Reg Reg. CC”). You agree that the image of the check that is transmitted to us (each such check and other item a “Check” and, if more than one, “Checks”) shall be deemed an “item” within the meaning of Article 4 of the Uniform Commercial Code (1990 Official Text). You further agree that you will not remotely deposit any checks check or other item that: (a) are payable to any person or entity other than you, (b) are drawn, or otherwise issued, by you on any account of yours maintained at another financial institutioninstitution unless you notify and receive permission from us prior to submitting the deposit, (c) are prohibited by our then current procedures User Guide pertaining to the Remote Mobile Deposit Service (the “ProceduresUser Guide”) or are in violation of any law, rule or regulation, (d) you know or suspect, or should know or suspect, is fraudulent or otherwise not authorized by the owner of the account on which the Check is drawn, (e) have not been previously endorsed by a bank Financial Institution and are either “substitute checks” (as defined in Reg CC or other applicable federal law or regulation) or “image replacement documents” that purport to be substitute checkchecks, without our prior written consent, (f) are drawn on financial institutions that are located outside of the United States or Territories of the United States, or (g) which are not acceptable to us for deposit into a deposit account as provided in the Deposit Agreement, which is incorporated herein by reference and made a part hereof (Checks described in clauses (a) through (g) each a “Prohibited Check” and, collectively, “Prohibited Checks”). If you deposit a Prohibited Check, you agree to indemnify and reimburse us for, and hold us harmless from and against, any and all losses, costs and expenses (including reasonable attorney’s fees) we may incur associated with any warranty, indemnity or other claim related thereto. Furthermore, if, after first having obtained our written consent to do so, you provide us with an electronic representation of a substitute check for deposit into an Account instead of an original Check, you agree to indemnify and reimburse us for, and hold us harmless from and against, any and all losses, costs and expenses (including reasonable attorney’s fees) fees we incur because any such substitute check resulting from such electronic representation does not meet applicable substitute check standards and/or causes duplicate payments. You grant us a security interest in all Accounts or other deposits (whether general or special) you maintain with usof yours at VISIONBank, and in all funds in such Accounts or other deposits, to secure your obligations to us under this Agreement. This security interest will survive termination of this Agreement.