Insufficient funds cheque Sample Clauses

Insufficient funds cheque. Bef ore refusing the payment of a cheque issued on the Client’s account owing to an absence or shortage of funds, the Bank informs the Client of the consequences of ref usal on such grounds, the period available to the Client to sort out his/her situation bef ore refusal, any sums that will be billed in respect of the refusal, and the date on which said sums will be debited from his/her account. This inf ormation is given to the Client by ordinary letter. The Client may also request to be inf ormed by an alternative method under the provisions set out in these agreements. If sufficient funds are not available in advance, the cheque is refused by the Bank. In this case, the Bank sends a legal notice to each of the holders of the account on which the pay ment irregularity occurred, containing: – a ban on issuing cheques for 5 years on all accounts of which he/she is a holder or co-holder, except as indicated hereinafter for collective accounts for which a manager has been designated; – the obligation to immediately return cheque f orms in his/her possession and/or in the possession of his/her authorised agents (persons wit h authority to issue cheques on the Client’s behalf). For a collective account, unless the holders have designated one person from among them who alone shall be barred f rom issuing cheques, all co-holders shall be affected by the af orementioned ban on all accounts, regardless of who issued the cheque. If , by mutual agreement, one of the co-holders has been designated in advance as manager within the meaning of the regulations, the ban shall apply to him/her alone across all of his/her accounts, regardless of who issued the cheque. The pay ment incident shall be reported to Banque de France, which must inform all the banks in which the Client holds an account that they must implement the ban. The Client may recover the ability to issue cheques before the end of the 5-year period, prov ided that the incident which caused the ban and any subsequent incidents in the books of the Bank and all other credit institutions have been settled. There are multiple way s to settle incidents: – direct pay ment to the payee f or the unpaid cheque. The Client must then prov e settlement by submitting the cheque to the Bank; – establishment of sufficient available funds specifically intended for paying the cheque when it is presented again. Such funds must remain frozen for one y ear f rom when they are produced, unless the Client can prove having paid th...
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Related to Insufficient funds cheque

  • Insufficient Funds If at any time insufficient funds are received by and available to the Administrative Agent to pay fully all amounts of principal, L/C Borrowings, interest and fees then due hereunder, such funds shall be applied (i) first, toward 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, toward payment of principal and L/C Borrowings then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of principal and L/C Borrowings then due to such parties.

  • NON-SUFFICIENT FUNDS (NSF CHECKS) If the Tenant pays the Rent with a check that is not honored due to insufficient funds (NSF): (check one) ☐ - There shall be a fee of $ per incident. ☐ - There shall be no fee.

  • Non-Sufficient Funds Tenant shall be charged $ for each check that is returned to Landlord for lack of sufficient funds.

  • Sufficient Funds Buyer has sufficient funds to pay in full the Purchase Price and to enable it to consummate the transactions contemplated by this Agreement.

  • RETURNED CHECKS (NON-SUFFICIENT FUNDS) If the Tenant pays the Rent with a check that bounces due to insufficient funds: (check one) ☐ - The Tenant will be required to pay a fee of $ per incident. ☐ - The Tenant will NOT be required to pay a fee.

  • Non-Sufficient Funds and Dishonored Payments If my check is returned by a bank or other entity for any reason, if any of my credit card or debit card payments are rejected, or if Xxxxx Management is unable, through no fault of its own or their bank, to successfully process any of my ACH debit, credit card, or debit card transaction, then:

  • Late or Insufficient Payment All invoiced balances under this Agreement that are not paid in full by the due date will be subject to the DSP or Illinois Commerce Commission late payment rules.

  • Termination for Insufficient Funding The State may immediately terminate this Contract if it does not obtain funding from the Minnesota Legislature, or other funding source; or if funding cannot be continued at a level sufficient to allow for the payment of the services addressed within this Contract. Termination must be by written notice to the Contractor. The State is not obligated to pay for any services that are provided after notice and effective date of termination. However, the Contractor will be entitled to payment, determined on a pro rata basis, for services satisfactorily performed to the extent that dedicated funds are available. The State will not be assessed any penalty if the Contract is terminated because of the decision of the Minnesota Legislature, or other funding source, not to appropriate funds. The State must provide the Contractor notice of the lack of funding. This notice will be provided within a reasonable time of the State’s receiving notice.

  • Available Funds-Contingency-Termination a. The State is prohibited by law from making commitments beyond the term of the current State Fiscal Year. Payment to Local Agency beyond the current State Fiscal Year is contingent on the appropriation and continuing availability of Agreement Funds in any subsequent year (as provided in the Colorado Special Provisions). If federal funds or funds from any other non-State funds constitute all or some of the Agreement Funds, the State’s obligation to pay Local Agency shall be contingent upon such non-State funding continuing to be made available for payment. Payments to be made pursuant to this Agreement shall be made only from Agreement Funds, and the State’s liability for such payments shall be limited to the amount remaining of such Agreement Funds. If State, federal or other funds are not appropriated, or otherwise become unavailable to fund this Agreement, the State may, upon written notice, terminate this Agreement, in whole or in part, without incurring further liability. The State shall, however, remain obligated to pay for Services and Goods that are delivered and accepted prior to the effective date of notice of termination, and this termination shall otherwise be treated as if this Agreement were terminated in the public interest as described in §2.C.

  • Escrow Account 31.1.1 The Concessionaire shall, prior to the Appointed Date, open and establish an Escrow Account with a Bank (the “Escrow Bank”) in accordance with this Agreement read with the Escrow Agreement.

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