Rejection of Payment Order Sample Clauses

Rejection of Payment Order. Bank has a right to reject Client’s Payment Order for an outgoing Wire Transfer for any reason including, but not limited to, the following: (i) Insufficient funds or insufficient Collected Funds in the amount specified in the Payment Order; provided that Bank may, in its sole discretion, allow an overdraft to complete a funds transfer, and Client shall repay Bank immediately, without demand, the amount of the overdraft plus any overdraft charges; (ii) If the Payment Order does not conform in form and substance with the requirements of this Agreement, Bank’s format, or any applicable set-up forms; (iii) If Bank is unable to verify the authenticity of a Payment Order through the use of the Security Procedures; (iv) If Bank suspects fraud in connection with a Payment Order or the Payment Order is otherwise suspicious or anomalous for Client; or
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Rejection of Payment Order. Customer agrees that Bank has no obligation to accept a Payment Order and therefore may reject any Payment Order issued by Customer. Bank has no obligation to notify Customer of the rejection of the Payment Order issued by Customer but Bank may so notify at its option. Bank shall have no liability to Customer for rejection of a Payment Order and shall not be liable to pay interest to Customer even if the amount of Customer’s Payment Order is fully covered by a withdrawable credit balance in an Authorized Account of Customer or the Bank has otherwise received full payment from Customer.
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Rejection of Payment Order. (a) A payment order is rejected by the re- ceiving bank by a notice of rejection trans- mitted to the sender orally, electronically, or in writing. A notice of rejection need not use any particular words and is sufficient if it indicates that the receiving bank is reject- ing the order or will not execute or pay the order. Rejection is effective when the notice is given if transmission is by a means that is reasonable in the circumstances. If notice of rejection is given by a means that is not rea- sonable, rejection is effective when the no- xxxx is received. If an agreement of the send- er and receiving bank establishes the means to be used to reject a payment order, (i) any means complying with the agreement is rea- sonable and (ii) any means not complying is not reasonable unless no significant delay in receipt of the notice resulted from the use of the noncomplying means. (b) This subsection applies if a receiving bank other than the beneficiary’s bank fails to execute a payment order despite the exist- ence on the execution date of a withdrawable credit balance in an authorized account of the sender sufficient to cover the order. If the sender does not receive notice of rejec- tion of the order on the execution date and the authorized account of the sender does not bear interest, the bank is obliged to pay interest to the sender on the amount of the order for the number of days elapsing after the execution date to the earlier of the day the order is canceled pursuant to section 4A– 211(d) or the day the sender receives notice or learns that the order was not executed, counting the final day of the period as an elapsed day. If the withdrawable credit bal- ance during that period falls below the amount of the order, the amount of interest is reduced accordingly. (c) If a receiving bank suspends payments, all unaccepted payment orders issued to it are deemed rejected at the time the bank suspends payments. (d) Acceptance of a payment order pre- cludes a later rejection of the order. Rejec- tion of a payment order precludes a later ac- ceptance of the order.
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Rejection of Payment Order. PayFix may refuse to fulfill a payment order issued by the User in case of a violation of Law No. 5549 and other relevant legislation or in case of a justified reason. In such a case, the user shall be informed of the reason for refusal by the end of the next business day following the receipt of the payment order via the user's registered contact information. In the event that PayFix rejects a payment order, and if the instruction regarding the payment order is incorrect and/or incomplete, the user shall be notified via the user's registered contact information by the end of the next business day following the receipt of the payment order, specifying how the errors causing the rejection can be corrected.
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Rejection of Payment Order. Bank has a right to reject Client’s Payment Order for an outgoing Wire Transfer for any reason including, but not limited to, the following: (i) Insufficient funds or insufficient Collected Funds in the amount specified in the Payment Order; provided that Bank may, in its sole discretion, allow an overdraft to complete a funds transfer, and Client shall repay Bank immediately, without demand, the amount of the overdraft plus any overdraft charges; (ii) If the Payment Order does not conform in form and substance with the requirements of this Agreement, Bank’s format, or any applicable set-up forms; (iii) If Bank is unable to verify the authenticity of a Payment Order through the use of the Security Procedures; (iv) If Bank suspects fraud in connection with a Payment Order or the Payment Order is otherwise suspicious or anomalous for Client; or (v) Based on Bank’s internal controls. Bank will notify Client by telephone of the rejection of any Payment Order. Notices of rejection will be effective when given.
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Rejection of Payment Order. The Bank reserves the right to reject any of Client’s Payment Orders: 1. If there are insufficient available funds in the Authorized Account. 2. If the Payment Order is incomplete or unclear. • If the Payment Order is not received in a manner permitted under this Agreement, including by misuse or unauthorized use of Access Credentials. 1. If the Bank is unable to confirm the Payment Order via telephonic conversation or voice records with the Client, 2. If the Payment Order violates any Payment Activity Threshold. 3. If the Bank is unable to authenticate a Payment Order that, in the Bank’s judgment, appears anomalous or presents indicia of fraud; or • If for any other reason the Bank is unable to process the Payment Order. The Bank will attempt to notify Client of any rejected Payment Order either in the same manner as the Payment Order was sent to the Bank by the Client or in the manner provided in this Agreement for Notices but shall not be liable for any delay or failure in providing such notice or executing any Payment Order. THE BANK SHALL NOT BE LIABLE FOR ANY DAMAGES OR LOSS SUSTAINED BY THE CLIENT FOR THE BANK’S REJECTION OF A PAYMENT ORDER.
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Rejection of Payment Order. You agree that we have no obligation to accept a Payment Order and therefore may reject any Payment Order issued by you. We have no obligation to notify you of the rejected Payment Order issued by you but we may so notify in good faith.
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Rejection of Payment Order. Member agrees that Financial Institution has no obligation to accept a Payment Order and therefore may reject any Payment Order issued by Member. Financial Institution has no obligation to notify Member of the rejection of the Payment Order issued by Member but Financial Institution may so notify at its option. Financial Institution shall have no liability to Member for rejection of a Payment Order and shall not be liable to pay interest to Member even if the amount of Member’s Payment Order is fully covered by a withdrawable credit balance in an Authorized Account of Member or the Financial Institution has otherwise received full payment from Member.
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Related to Rejection of Payment Order

  • Cancellation of Payment Orders The Company may cancel a payment order but the Custodian shall have no liability for the Custodian's failure to act on a cancellation instruction unless the Custodian has received such cancellation instruction at a time and in a manner affording the Custodian reasonable opportunity to act prior to the Custodian's execution of the order. Any cancellation shall be sent and confirmed in the manner set forth in Paragraph 2 above.

  • Confirmation of Payment The Administrative Agent and the Lenders will, upon request after payment of the Credit Party Obligations which are the subject of this Guaranty and termination of the Commitments relating thereto, confirm to the Borrower, the Guarantors or any other Person that such indebtedness and obligations have been paid and the Commitments relating thereto terminated, subject to the provisions of Section 10.2.

  • Condition of Payment All services provided by the Contractor under this Contract must be performed to the State’s reasonable satisfaction, as determined at the discretion of the undersigned State representative and in accordance with all applicable federal, state, local laws, ordinances, rules and regulations. The State shall not be required to pay for work found to be unsatisfactory, inconsistent with this Contract or performed in violation of any federal, state or local statute, ordinance, rule or regulation.

  • Stop Payment Order Request Any owner may request a stop payment order on any check or draft drawn on the owner’s account. To be binding, the order must be in writing, dated and signed, and must accurately describe the check or draft, including the exact account number, the check or draft number, and the exact amount of the check or draft. This exact information is necessary for the Credit Union’s computer to identify the check or draft. If we receive incorrect or incomplete information, we will not be responsible for failing to stop payment on the check or draft. In addition, we must receive sufficient advance notice of the stop payment order to allow us a reasonable opportunity to act on it. If we recredit your account after paying a check or draft over a valid and timely stop payment order, you agree to sign a statement describing the dispute with the payee, to assign to us all of your rights against the payee or other holders of the check or draft, and to assist us in any legal action.

  • Stop Payment Orders If you do not want us to pay a check you have issued, you can request us to stop payment of that check. Any Authorized Representative may order us to stop payment on a check and we will charge a fee. See the fee schedule applicable to your Account for details. Your stop payment order must include your Account number, the number and date of your check, the amount, and the name of the payee. We are not responsible for stop payment orders with incorrect or incomplete information. If you make your stop payment order orally and do not confirm it in writing within fourteen (14) calendar days, we may not continue to honor it. Our acceptance of a stop payment order will not constitute a representation that the Item has not already been paid or that the Bank has had a reasonable opportunity to act upon the order. Your stop payment order will take effect only after we receive all required documents from you, we verify that the check is unpaid, we record it on your Account, and we have had sufficient time to notify the impacted areas of the Bank (which may take several days), and we will not be liable if we pay the check or for any related Losses you incur before the stop payment order has taken effect. We cannot stop payment on a check we have already cashed or a deposited check where the funds have already been withdrawn. You may not stop payment on money orders issued by the Bank or on official, certified, cashier’s, or teller’s checks issued by the Bank. In addition, you may not stop payment on checks governed by separate agreement, such as a check guaranty agreement. Your stop payment order will be effective for six (6) months, and can be renewed for six (6) more months for an additional fee. We have no obligation to notify you when your stop payment order expires. If you want to release a stop payment order, you must tell us in writing. If the check is presented for payment after a stop payment order expires, we may pay the check. In some cases, we may pay a check even if a stop payment order is in effect. For example, if we or another person or entity becomes a “holder in due course” of a check that you ask us to stop, we may still pay the check. When you place a stop payment order, you agree to indemnify us for all Losses we incur due to our refusal to pay the Item. You assign to us all rights against the payee or any other holder of the check. You agree to cooperate with us in any legal actions that we may take against these parties. Applicable Law may permit other limitations on our obligation to stop payments. Refer to Section 8 of this Agreement, “Electronic Funds Transfers,” for how to place a stop payment on electronic payments.

  • Order of Payment (1) In the event of any insolvency or bankruptcy proceedings, or any receivership, liquidation, reorganization or other similar proceedings relative to the Corporation, or to its property or assets, or in the event of any proceedings for voluntary liquidation, dissolution or voluntary winding-up of the Corporation, whether or not involving insolvency or bankruptcy, or any marshalling of the assets and liabilities of the Corporation: (a) all Secured Indebtedness shall first be paid in full, or provision made for such payment, before any payment is made on account of Debenture Liabilities; (b) any payment or distribution of assets of the Corporation, whether in cash, property or securities, to which the holders of the Debentures or the Trustee on behalf of such holders would be entitled except for the provisions of this Article 5, shall be paid or delivered by the trustee in bankruptcy, receiver, assignee for the benefit of creditors, or other liquidating agent making such payment or distribution, directly to the holders of Secured Indebtedness or their representative or representatives, or to the trustee or trustees under any indenture pursuant to which any instruments evidencing any of such Secured Indebtedness may have been issued, to the extent necessary to pay all Secured Indebtedness in full after giving effect to any concurrent payment or distribution, or provision therefor, to the holders of such Secured Indebtedness; and (c) the Secured Creditors or a receiver or a receiver-manager of the Corporation or of all or part of its assets or any other enforcement agent may sell, mortgage, or otherwise dispose of the Corporation’s assets in whole or in part, free and clear of all Debenture Liabilities and without the approval of the Debentureholders or the Trustee. (2) The rights and priority of the Secured Indebtedness and the subordination pursuant hereto shall not be affected by: (a) the time, sequence or order of creating, granting, executing, delivering of, or registering, perfecting or failing to register or perfect any security notice, caveat, financing statement or other notice in respect of any security securing the Secured Indebtedness (the “Senior Security”); (b) the time or order of the attachment, perfection or crystallization of any security constituted by the Senior Security; (c) the taking of any collection, enforcement or realization proceedings pursuant to the Senior Security; (d) the date of obtaining of any judgment or order of any bankruptcy court or any court administering bankruptcy, insolvency or similar proceedings as to the entitlement of the Secured Creditors, or any of them or the Debentureholders or any of them to any money or property of the Corporation; (e) the failure to exercise any power or remedy reserved to the Secured Creditors under the Senior Security or to insist upon a strict compliance with any terms thereof; (f) whether any Senior Security is now perfected, hereafter ceases to be perfected, is avoidable by any trustee in bankruptcy or like official or is otherwise set aside, invalidated or lapses; (g) the date of giving or failing to give notice to or making demand upon the Corporation; or (h) any other matter whatsoever.

  • 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.

  • Application of Payment The monthly housing assistance payment shall be credited against the monthly rent to owner for the contract unit.

  • Manner of Payment All payments due under this Agreement shall be in lawful money of the United States of America in immediately available funds as each party hereto may specify to the other parties; provided, that in the event the Receiver or the Corporation is obligated to make any payment hereunder in the amount of $25,000.00 or less, such payment may be made by check.

  • Terms of Payment 16.1 The Supplier shall request for payment by submitting invoice(s), delivery note(s) and any other relevant documents as specified in the SCC to the Procuring Entity. 16.2 Payments shall be made promptly by the Procuring Entity, but not later than thirty (30) days after submission of an invoice by the Supplier, and after the Procuring Entity has accepted it.

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