Multiple Payees Clause Samples
The Multiple Payees clause establishes how payments under a contract are to be distributed when more than one party is entitled to receive funds. Typically, this clause outlines the specific shares or percentages each payee will receive, and may detail the process for issuing separate payments or joint checks. By clearly defining the allocation and method of payment among multiple recipients, this clause helps prevent disputes and ensures that all entitled parties are paid correctly and efficiently.
Multiple Payees. Unless any check, share draft or other instrument expressly indicates that the item is payable to conjunctive payees, the instrument shall be deemed payable in the alternative. If there is any ambiguity, the instrument shall be deemed payable in the alternative (example: a check payable to "A and B" is a conjunctive instrument. A check payable to "A or B;" "A, B;" "A/B", where "A and B are listed on separate lines;" or otherwise, where not expressly conjunctive are payable in the alternative).
Multiple Payees. Unless any check, or other instrument expressly indicates that the item is payable to conjunctive payees, the instrument shall be deemed payable in the alternative. If there is any ambiguity, the instrument shall be deemed payable in the alternative (example: a check payable to “A and B” shall be deemed a conjunctive instrument. A check payable to “A or B”; “A, B;” “A/B”, where “A and B” are listed on separate lines”; or otherwise where not expressly conjunctive using the word “and” shall be deemed payable in the alternative).
Multiple Payees. Unless a Check or other instrument expressly indicates that it is payable to conjunctive payees, or if there is any ambiguity about multiple payees, we will treat the instrument as being payable in the alternative. For example, a Check payable to "A and B" is a conjunctive instrument, and will be paid only to the order of A and B. Examples of situations that are not expressly conjunctive or are ambiguous include (but are not limited to) a Check (a) payable to “A or B”; (b) payable to “A, B”; (c) payable to “A/B”; and (d) where A and B are listed on separate lines. In such cases, we will treat the instrument as being payable in the alternative (to the order of either A or B).
Multiple Payees. Unless any check, share draft or other instrument expressly indicates that the item is payable to conjunctive payees, the instrument shall be deemed payable in the alternative. If there is any ambiguity, the instrument shall be deemed payable in the alternative (example: a check payable to "A and B" is a conjunctive instrument. A check payable to "A or B;" "A, B;" "A/B", where "A and B are listed on separate lines;" or otherwise, where not expressly conjunctive are payable in the alternative). We automatically redeposit returned items under $100.00. WITHDRAWALS FROM YOUR ACCOUNT
Multiple Payees. Unless any check, share draft or other instrument expressly indicates that the item is payable to conjunctive payees, the instrument shall be deemed payable in the alternative. If there is any ambiguity, the instrument shall be deemed payable in the alternative (example: a check payable to "A and B" is a conjunctive instrument. A check payable to "A or B;" "A, B;" "A/B", where "A and B are listed on separate lines;" or otherwise, where not expressly conjunctive are payable in the alternative). Night Deposit Facilities: All deposits and payments made at one of our night deposit facilities are subject to the provisions and check collection procedures as disclosed to you in our “Funds Availability Policy.” You agree that the credit to account(s) for non-cash items will be conditional until we can collect the item. If we cannot collect the amount of a non-cash item, the amount will be deducted from your account and fees imposed as set forth in the Schedule. Final Payment. All items, deposits, ACH (Automated Clearing House) transfers, or other transfers credited to your account are provisional and subject to our receipt of final payment. If final payment is not received, we may, without notice, charge your account for the amount of such items or transfers or both and impose all fees/charges set forth in the Schedule without notice. We have no obligation to provide any separate notice under this provision; and you agree that our indication of any credits or debits hereunder reflected on your periodic statements shall be deemed sufficient notice.
Multiple Payees. Unless a Check or other instrument expressly indicates that it is payable to conjunctive payees, or if there is any ambiguity about multiple payees, we will treat the instrument as being payable in the alternative. For example, a Check payable to "A and B" is a conjunctive instrument, and will be paid only to the order of A and
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Multiple Payees. A check payable to two payees must be endorsed by both payees. If the check is payable in the alternative (to you or your joint owner), either of you can endorse it. If the check is made payable jointly (to you and your joint owner), both of you must endorse the check. If the check is not clearly made payable in the alternative or payable jointly the check may be treated as the alternative and either of you can endorse it.
Multiple Payees. 8.1 If the Royalty becomes payable to two or more parties, those parties will appoint, and will deliver to the Payor a document executed by all of those parties appointing, a single agent or trustee of all such parties to whom the Payor will make all payments on account of the Royalty. The Payor will have no responsibility as to the division of the Royalty payments among such parties, and if the Payor makes a payment or payments on account of the Royalty in accordance with the provisions of this paragraph 8.1, it will be conclusively deemed that such payment or payments, have been received by all parties entitled thereto. All charges of the agent or trustee will be borne solely by the parties receiving payments on account of the Royalty.
Multiple Payees. If, on the Payment Date, the rights under this Agreement are held by more than one person, the payment provided for in Section 4.01 shall be paid to them pro rata in accordance with their interests.