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 then in effect in the state of Indiana. You further agree that you will not remotely deposit any Check or other item that: (i) are payable to any person or entity other than you, (ii) are drawn, or otherwise issued, by you on any of your accounts maintained at other financial institutions; (iii) are prohibited by us or are in violation of any Applicable Rules; (iv) 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; (v) have 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 checks; (vi) are drawn on financial institutions that are located outside of the United States or territories of the United States or are payable in currency other than U.S. dollars; (vii) are not acceptable to us for deposit into a deposit Account as provided in the Account Agreements and Disclosures; (viii) were previously returned to you unpaid for any reason;

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 Consumer Financial Protection Bureau 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 then in effect in the state of Indiana(1990 Official Text). You further agree that you will not remotely use the Mobile Deposit Service to deposit any Check Checks or other item items that: (ia) are payable to any person or entity other than you, (iib) are drawn, or otherwise issued, by you on any account of your accounts you maintained at other another financial institutions; institution, (iiic) are prohibited by us Bank’s then current procedures pertaining to the Mobile Deposit Service or are in violation of any Applicable Rules; law, rule or regulation, (ivd) 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; , (ve) 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 checks; , without Bank’s prior express written consent, (vif) are drawn on financial institutions that are located outside of the United States or territories Territories of the United States or are payable in currency other than U.S. dollars; (vii) are not acceptable to us for deposit into a deposit Account as provided in the Account Agreements and Disclosures; (viii) were previously returned to you unpaid for any reason;States, and