Disposition of Imaged Checks Sample Clauses

Disposition of Imaged Checks. After our receipt of any transmission of imaged Items for deposit to your Account, the system will acknowledge by electronic means receipt of your transmission. Your electronic transmission is subject to proof and verification. You agree to retain and safeguard the originals of all imaged Items after validation in accordance with commercially reasonable standards and with your internal procedures for not less than ten (10) calendar days or for such time as is required by and in accordance with applicable law, statute, or regulation. Thereafter, in a commercially reasonable manner, you will destroy the originals of all such imaged Items or make arrangements for future destruction or storage with a third party document management provider. You agree to take commercially reasonable steps to safeguard the originals and the content of data contained of, on or related to such imaged Items until such time as they have been destroyed. You further agree that you have sole responsibility for such items, even after transfer to a third-party provider, and for the due diligence of that third party.
Sample 1
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Disposition of Imaged Checks. You agree that all Items belong to you and not to us and that those items shall be handled in accordance with the Terms and Conditions and any User Materials. After receipt by us of any transmission by you to us of imaged Items for deposit to your EDS Account, we will acknowledge by electronic means receipt of your transmission. Your electronic transmission is subject to proof and verification. If you do not receive an electronic notice of receipt within one (1) hour of your transmission, you agree to contact your Bank representative. You agree to retain the originals of all imaged items after validation in accordance with commercially reasonable standards and with your internal procedures for not less than fourteen (14) calendar days or for such time as is required by and in accordance with applicable law, statute, or regulation. Thereafter, in a commercially reasonable manner, you will destroy the originals of all such imaged Items. You agree to take commercially reasonable steps to safeguard the originals of such imaged Items until such time as they have been destroyed.
Sample 1
Disposition of Imaged Checks. You agree that all Paper Items belong to you and not to us and that those Paper Items shall be handled in accordance with these Terms and Conditions and any User Materials. After receipt by us of any transmission by you to us of imaged Items for deposit to your ICS Account, we will acknowledge by electronic means receipt of your transmission. Your electronic transmission is subject to proof and verification. If you do not receive an electronic notice of receipt within one (1) hour of your transmission, you agree to contact your Bank representative. Generally, the rejection of any Item will be posted within one business day but, we reserve the right to post a rejection of any Item at any time. You will retain the original of all original checks which you image through the Service for a reasonable period of time as determined by you and in accordance with all applicable state and federal laws and regulations, but in no event less than fourteen (14) calendar days. This 14-day retention requirement is a minimum requirement and may not offer you the legal protection you need. You should consult with your own legal counsel in establishing a minimum retention procedure. You agree to safeguard the originals of such imaged checks until such time as they have been destroyed.
Sample 1

Related to Disposition of Imaged Checks

  • 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. 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 institution 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. We reserve the right to pursue collection of previously dishonored items at any time, including giving a payor financial institution extra time beyond any midnight deadline limits.

  • Disposition of Income During the term of this Trust, all income received by the Trust, net of expenses and taxes, shall be accumulated and reinvested.

  • Application of Insurance Proceeds Grantor shall promptly notify Lender of any loss or damage to the Collateral. Lender may make proof of loss if Grantor fails to do so within fifteen (15) days of the casualty. All proceeds of any insurance on the Collateral, including accrued proceeds thereon, shall be held by Lender as part of the Collateral. If Lender consents to repair or replacement of the damaged or destroyed Collateral, Lender shall, upon satisfactory proof of expenditure, pay or reimburse Grantor from the proceeds for the reasonable cost of repair or restoration. If Lender does not consent to repair or replacement of the Collateral, Lender shall retain a sufficient amount of the proceeds to pay all of the Indebtedness, and shall pay the balance to Grantor. Any proceeds which have not been disbursed within six (6) months after their receipt and which Grantor has not committed to the repair or restoration of the Collateral shall be used to prepay the Indebtedness.

  • Exclusion of Immaterial Subsidiaries Solely for the purposes of determining whether an Event of Default has occurred under clause (h), (i) or (l) of Section 7.01, any reference in any such clause to any Subsidiary shall be deemed not to include any Immaterial Subsidiary affected by any event or circumstance referred to in any such clause.

  • Location of Inventory Except as set forth in Schedule 4.25, the Inventory of Borrowers and their Subsidiaries is not stored with a bailee, warehouseman, or similar party and is located only at, or in-transit between, the locations identified on Schedule 4.25 to this Agreement (as such Schedule may be updated pursuant to Section 5.14).

  • Administration of Inventory Borrower shall keep records of its and its Subsidiaries’ Inventory which records shall be complete and accurate and complete in all material respects. Borrower shall furnish to Agent Inventory reports concurrently with the delivery of each Borrowing Base Certificate described in subsection 8.1.4 or more frequently as requested by Agent, which reports will be in such other format and detail as Agent shall request and shall include a current list of all locations of Borrower’s Inventory. Borrower shall conduct a physical inventory no less frequently than annually and shall provide to Agent a report based on each such physical inventory promptly thereafter, together with such supporting information as Agent shall reasonably request.

  • Data Disposition When the contracted work has been completed or when the Data is no longer needed, except as noted above in Section 5.b, Data shall be returned to DSHS or destroyed. Media on which Data may be stored and associated acceptable methods of destruction are as follows: Data stored on: Will be destroyed by:

  • Application of Insufficient Payments If at any time insufficient funds are received by and available to the Administrative Agent to pay fully all amounts of principal, unreimbursed LC Disbursements, interest and fees then due hereunder, such funds shall be applied (i) first, towards payment of interest and fees then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of interest and fees then due to such parties, and (ii) second, towards payment of principal and unreimbursed LC Disbursements then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of principal and unreimbursed LC Disbursements then due to such parties.

  • Submission of Invoices 5.1 An original invoice shall be submitted by mail by the Contractor for each payment under the Contract to the following address: .................………………………………………………………………………………………………………………. 5.2 Invoices submitted by fax shall not be accepted by UNDP.

  • Disposition of Collateral Such Grantor will not sell, lease or otherwise dispose of the Collateral owned by it except for dispositions specifically permitted pursuant to Section 6.05 of the Credit Agreement.

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