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, 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:
Sample 1
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

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