PAYROLL CHECK CASHING COVERAGE. SPS-EFT agrees to waive section 11.1 (i) and 11.2 (j) and to guarantee Payroll Checks cashed by MERCHANT up to the limit which was approved by SPS-EFT’s underwriting department at the time of acceptance (maximum $500.00 limit unless approved in writing by SPS-EFT in advance), provided that Merchant shall have performed all of his obligations related to the issuance of said qualified instrument and is compliant with all other requirements of Sections 11.1 and 11.
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Samples: Merchant Processing Agreement, Merchant Processing Agreement, Merchant Processing Agreement