Payment of Presented Checks and Reporting of Exception Checks Sample Clauses

Payment of Presented Checks and Reporting of Exception Checks. Bank shall compare each Presented Check by check number and amount against each Check Issue Report received by Bank. On each banking day, Bank: (a) may pay and charge to the Authorized Account each Presented Check that matches by check number and amount a Check shown in any Check Issue Report; (b) shall provide to Company an Exception Check Report that indicates whether Bank has received any Exception Checks and, if so, specifies the complete check number and amount of any such Exception Check; and (c) shall send the Exception Check Report in the format and medium, by the deadline(s), and to the place(s) specified by Bank from time to time.
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Payment of Presented Checks and Reporting of Exception Checks. Bank shall compare each Presented Check by check number, Account number and dollar amount (but not by Payee or other information) against each Check Issue File received by Bank. Bank may pay and charge to the Authorized Account each Presented Check that is not an Exception Check. Bank shall notify Customer if there are Exception Checks. If Customer does not submit a Check Issue File, all checks will be Exception Checks. Bank shall pay or return Exception Checks in accordance with Section 4 below.
Sample 1
Payment of Presented Checks and Reporting of Exception Checks. Bank shall compare each Presented Check by check number, check amount and payee name (if Customer elects to receive payee verification services) against each Check Issue File received by Bank. Bank may satisfy its obligation hereunder by comparing check number, amount and payee name (if applicable) set forth in Substitute Checks, checks presented over-the-counter at one of Bank’s teller stations and/or electronic presentment of checks. On each Banking Day, Bank: (a) may pay and charge to the Authorized Account each Presented Check that matches, by check number, amount and payee name (if applicable), a check shown in any Check Issue File; (b) may pay and charge to the Authorized Account all Systematic Override Checks that match, by check number, amount and payee name (if applicable and as described herein), a check shown on any Check Issue File; and (c) shall provide to Customer an Exception Check Report that indicates whether Bank has received any Exception Checks and, if so, provide the image of the Exception Check(s) by the deadline set forth in the Services’ Setup Form(s) via the Bank Internet System. Customer must provide check payment approval or return instructions to Bank on each Exception Check reported by the deadline set forth in the Services’ Setup Form(s) via the Bank Internet System (“Pay or Return Decisions”).
Sample 1
Payment of Presented Checks and Reporting of Exception Checks. Bank shall compare each Presented Check by check number, check amount and payee name as part of Payee Match against each Check Issue File received by Bank. Bank may satisfy its obligation hereunder by comparing check number, amount and payee name set forth in Substitute Checks, checks presented over-the-counter at one of Bank's teller stations and/or electronic presentment of checks. On each Business Day, Bank: (a) may pay and charge to the Authorized Account each Presented Check that matches, by check number, amount and payee name, a check shown in any Check Issue File; (b) shall provide to Customer, through its Authorized User(s) identified in the attached Schedule B, an Exception Check Report via the Business Online Banking Service that indicates whether Bank has received any Exception Checks by the deadline and as otherwise set forth in Schedule A. Customer must provide check payment approval or return instructions to Bank via the Business Online Banking Service on each Exception Check reported by the deadline set forth in the attached Schedule A ("Pay or Return Decisions"); (c) will, in accordance with Customer's enrollment, send a notification or alert to Customer via the Business Online Banking Service. The notification or alert will be available when Customer logs into the Business Online Banking Service. The notification or alert will either indicate that an Exception Check Report has been presented for Customer's review or that there is no Exception Check Report for review on that Business Day; and (d) will, in accordance with Customer's enrollment, send an email notification to Customer that indicates either that an Exception Check Report has been presented for Customer's review, or that there is no Exception Check Report for review on that Business Day.
Sample 1

Related to Payment of Presented Checks and Reporting of Exception Checks

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