Common use of NOTIFICATION OF PAYMENTS RECEIVED Clause in Contracts

NOTIFICATION OF PAYMENTS RECEIVED. MERCHANT shall notify SPS-EFT pursuant to the provision set forth in Section 5.3 11.1 CHECKS FOR WHICH MERCHANT WILL NOT BE REIMBURSED UNDER REMOTE CHECK DEPOSIT (CHECK 21 Plus) with Guarantee. In addition to the provisions set forth in this Agreement and notwithstanding any other provisions to the contrary, SPS-EFT shall have no obligation to reimburse MERCHANT for checks that are: (a) Not honored by the customer’s financial institution because of the customer’s instructions to “stop payment” on the check;