NSF Payments. If the Member's payment for monthly Housing Charges is not honoured by the Member's banking institution: [a] the Member will be deemed to have failed to make payment of Housing Charges as required hereunder; and [b] this may be cause for termination of membership under the Rules. In addition the Member shall be liable for bank charges incurred in the processing of dishonoured payments and any penalties or fines set by the Directors.

NSF Payments. If Purchaser discovers that the payment on any one (1) or more of the Mortgage Loans for the last month preceding the Sale Date was made by the Mortgagor by an "NSF" check, and that the return of such "NSF" check causes such Mortgage Loan to be ninety (90) days or more past due as of the Sale Date, such Mortgage Loan shall be treated as a Delinquent Loan as defined herein. In each case, the Purchase Price shall be adjusted accordingly and Seller shall promptly reimburse Purchaser.

NSF Payments. The single process for handling a NSF payment shall contain the following three components: • Returning the amount of the NSF check to the customers balance and reversing the amount posted to the individual transaction(s) that the check was applied to. The original payment shall be marked as NSF while removing the amount paid to the individual debit transactions associated with it. The date of NSF shall be stored in the original payment transaction. The original record shall not be voided or deleted. This will then affect the customer‟s balance and aged trial balance. • Assess a two tier NSF charge for NSF checks. Currently a charge of $25 for the first NSF check and a charge of $35 for any additional NSF check is assessed to an account that has a check returned for any reason. A field shall be added to the customer/account table that will keep track as to which fee has been assessed. Default each account with the first fee and the after the first NSF automatically change it to the second tier NSF rate. The two tier rates shall be changeable in General Accounting Options. This charge can be removed during the edit batch process only, but the AR system is to automatically generate it. This fee will be assigned a transaction type (NSF) that can later be reported on and identified as needed. • A Late Charge transaction will be created for any new unpaid transactions associated with a NSF payment. The Late Charge will be calculated based on the original due date of the each unpaid debit transaction associated with the NSF payment. All transactions (NSF Charge and Late Fee) shall contain the current date of the transaction, not the original date of payment.

NSF Payments. Batch Post The posting of Late Charge Batches can only be performed by the Supervisor, Audit Clerk and Billing Clerk. At no time can the post and edit of a batch be performed by the same user ID. The Deposit Clerk shall not be allowed to post any batch. For a batch to be labeled as Posted, all originally paid transactions shall be aged appropriately, assessed any late fee due along with the appropriate NSF Fee, all records must in the appropriate table(s) and posted to the customer‟s account balances. The routine of running a batch post can only be run once and must produce a report showing all transactions found in that batch that were posted to the appropriate accounts. Always produce the batch post report to screen with an option to print if the user chooses to do so. All batch post reports shall be saved as a .PDF to a place designated in The General Accounting Option Management for Batch Edit and Post location prior to producing to the screen. In the name of the batch shall be the batch number_post. See Exhibit AR-84 for example of current report.

NSF Payments. In the event a payment check is returned for non-sufficient funds (NSF), any and all bank fees will be the sole responsibility of the parent/guardian. If a second payment check is returned for non-sufficient funds (NSF) or a family presents a NSF (non-sufficient funds) check for two separate months, all future tuition payments will be required in cash. Other administrative fees may apply. Financial Difficulty

NSF Payments. An administrative charge of $50.00 will be applied to any NSF (non-sufficient funds) payments.

Related to NSF Payments

Collection of Payments Borrower authorizes Bank to collect all principal, interest and fees due under each credit created by the Loan Documents by charging Borrower’s deposit account number 4121261853 with Bank, or any other deposit account maintained by Borrower with Bank, for the full amount thereof. Should there be insufficient funds in any such deposit account to pay all such sums when due, the full amount of such deficiency shall be immediately due and payable by Borrower.
Recovery of Payments If Agent pays any amount to a Lender in the expectation that a related payment will be received by Agent from an Obligor and such related payment is not received, then Agent may recover such amount from each Lender that received it. If Agent determines at any time that an amount received under any Loan Document must be returned to an Obligor or paid to any other Person pursuant to Applicable Law or otherwise, then, notwithstanding any other term of any Loan Document, Agent shall not be required to distribute such amount to any Lender. If any amounts received and applied by Agent to any Obligations are later required to be returned by Agent pursuant to Applicable Law, each Lender shall pay to Agent, on demand, such Lender’s Pro Rata share of the amounts required to be returned.
Netting of Payments Subparagraph (ii) of Section 2(c) of this Agreement will apply to Transactions entered into under this Agreement unless otherwise specified in a Confirmation.
Nature of Payments Any amounts due under this Section 10 are in the nature of severance payments considered to be reasonable by the Company and are not in the nature of a penalty.
Distribution of Payments On and after the Effective Date, the Agent shall make all payments under the Loan Documents in respect of each Assigned Interest (a) in the case of amounts accrued to but excluding the Effective Date, to Assignor and (b) otherwise, to Assignee.
Return of Payments (i) If Agent pays an amount to a Lender under this Agreement in the belief or expectation that a related payment has been or will be received by Agent from Borrower and such related payment is not received by Agent, then Agent will be entitled to recover such amount from such Lender on demand without setoff, counterclaim or deduction of any kind.
Reduction of Payments Any reduction under Subsection (b) above shall be applied first to Payments that constitute “deferred compensation” (within the meaning of Section 409A of the Code and the regulations thereunder). If there is more than one such Payment, then such reduction shall be applied on a pro rata basis to all such Payments. Subject to the foregoing rules, the Employee may elect, in the Employee’s sole discretion, which and how much of the Payments shall be eliminated or reduced (as long as after such election the aggregate present value of the Payments equals the Reduced Amount) and shall advise the Company in writing of the Employee’s election within 10 business days of receipt of notice. If no such election is made by the Employee within such 10-day period, then the Company may elect which and how much of the Payments shall be eliminated or reduced (as long as after such election the aggregate present value of the Payments equals the Reduced Amount) and shall notify the Employee promptly of such election. For purposes of this Section 3, a present value shall be determined in accordance with Section 280G(d)(4) of the Code. All determinations made by the Accounting Firm under this Section 3 shall be binding upon the Company and the Employee and shall be made within 10 business days of the date when a Payment becomes payable or transferable. As promptly as practicable following such determination and the elections hereunder, the Company shall pay or transfer to or for the benefit of the Employee such amounts as are then due to the Employee and shall promptly pay or transfer to or for the benefit of the Employee in the future such amounts as become due to the Employee.
Remittance of Payments Forthwith after the withdrawal from the Designated Account by the Administrative Agent of any payment of principal, interest, fees or other amounts for the benefit of the Lenders pursuant to Section 3.7, the Administrative Agent shall, subject to Sections 3.2 and 8.3, remit to each Lender, in immediately available funds, such Lender’s Pro Rata Share of such payment (except to the extent such payment results from a Loan with respect to which a Defaulting Lender had failed, pursuant to Section 3.2, to make available to the Administrative Agent its Pro Rata Share and, where any other Lender has made funds available in the place and stead of such Defaulting Lender); provided that if the Administrative Agent, on the assumption that it will receive, on any particular date, a payment of principal (including, without limitation, a prepayment), interest, fees or other amount under the Credit Facility, remits to each Lender its Pro Rata Share of such payment and the Borrower fails to make such payment, each Lender agrees to repay to the Administrative Agent, forthwith on demand, to the extent that such amount is not recovered from the Borrower on demand and after reasonable efforts by the Administrative Agent to collect such amount (without in any way obligating the Administrative Agent to take any legal action with respect to such collection), such Lender’s Pro Rata Share of the payment made to it pursuant hereto together with interest thereon at the then prevailing interbank rate for each day from the date such amount is remitted to the Lenders until the date such amount is paid or repaid to the Administrative Agent, the exact amount of the repayment required to be made by the Lenders pursuant hereto to be as set forth in a certificate delivered by the Administrative Agent to each Lender, which certificate shall constitute prima facie evidence of such amount of repayment.
Proration of Payments If any Lender shall obtain any payment or other recovery (whether voluntary, involuntary, by application of offset or otherwise, on account of (a) principal of or interest on any Loan, but excluding (i) any payment pursuant to Section 8.7 or 15.6 and (ii) payments of interest on any Affected Loan) or (b) its participation in any Letter of Credit) in excess of its applicable Pro Rata Share of payments and other recoveries obtained by all Lenders on account of principal of and interest on the Loans (or such participation) then held by them, then such Lender shall purchase from the other Lenders such participations in the Loans (or sub-participations in Letters of Credit) held by them as shall be necessary to cause such purchasing Lender to share the excess payment or other recovery ratably with each of them; provided that if all or any portion of the excess payment or other recovery is thereafter recovered from such purchasing Lender, the purchase shall be rescinded and the purchase price restored to the extent of such recovery.
Avoidance of Payments Any settlement, discharge or release between (a) the Current Issuer and (b) the Note Trustee or any Receiver (the "Relevant Person(s)") shall be conditional upon no security or payment granted or made to the Relevant Person(s) by the Current Issuer or any other person being avoided or reduced by virtue of any provisions or enactments relating to bankruptcy, insolvency or liquidation for the time being in force and, in the event of such security or payment being so avoided or reduced, the Relevant Person(s) shall be entitled to recover the value or amount of such security or payment from the Current Issuer and from the security subsequently as if such settlement, discharge or release had not occurred.

NSF Payments Sample Clauses

Filter & Search

Related Clauses

Parent Clauses

Related to NSF Payments