Remittance Processing. Bank will open envelopes as received from the Lockbox and deposit processed remittances to the Lockbox Account. Bank will endorse the checks received and image the deposited items. You hereby irrevocably make, constitute and appoint us (and all persons designated by us for such purposes) as your true and lawful attorney-in-fact to endorse your name on all remittances processed hereunder. Bank’s endorsement shall not be a guaranteed endorsement. Bank will create deposit batches of no more than 300 checks and will deposit the same to the Lockbox Account daily. No deposits will be made on weekends or federal bank holidays. Bank will use commercially reasonable efforts to process and deposit items on the next Business Day after receipt of items for deposit by Bank at its offices. Any unprocessed remittances will be forwarded to Customer.
Remittance Processing. (i) Checks. We use high-speed automated equipment to open mail picked up at the Remittance Address, extract Checks and Optical Character Recognition (“OCR”) documents (collectively, the “Lockbox Documents”), process and prepare Checks for deposit to your designated deposit account with us. We will program our processing systems to recognize your standard remittance envelopes and your OCR documents, based on a sample OCR document that you provide to us as set forth in Section 2 below. If, with respect to any Check sent to your Lockbox, the OCR document is missing, we will inspect the Check to determine if your remitter data is present. If the data is present, we will use the data to continue processing the Check. If the data is not present, we will deposit the Check in your designated account with us or return it to you without processing it (based upon your instructions). If a Check is missing or a Charge authorization was not provided, we will return the related OCR document to you without processing it. We shall not be deemed to have received a Check or Charge until we have received it from the United States Post Office and processed the Check or Charge according to our procedures. To accomplish automated high-speed processing and to maximize your deposit availability, we do not examine Checks (including, without limitation, any inspection for missing signatures, dates, payees, endorsements, or guarantee amounts) except as provided in any separate Service feature you use with us. Further, we do not attempt to isolate Checks bearing restrictive legends or endorsements (e.g., “paid in full,” “final payment” or words of similar meaning). You hereby agree that we do not assume any responsibility or liability for our failure to discover and forward such items to you.
Remittance Processing. (This section applies only when CLIENT has agreed to have SOFTBANK process payments and provide fulfillment services.) (This section intentionally removed.)
Remittance Processing. North Bend and Snoqualmie shall each compensate the City of Issaquah $2,500 annually for the monthly processing of local court revenues as set forth in Section 8 and amounts due and owed to the State and County as set forth in Section 10. This annual fee shall be due and payable within 30 days of invoicing.
Remittance Processing. We will write a program to establish the available cash balance. We also will establish a place for the account wire information and withholding percentage. The daily remittance processing program will scan the checks files, and attempt to process each check with a due date of today or earlier. Four different cases must be handled:
A) If available cash is insufficient to cover the amount, a line is printed on the Insufficient Funds Report.
B) If available cash is sufficient to cover the amount, the program will subtract the amount from the available cash balance and determine the processing method:
B1) the payment is by check, the program will assign a check number, print a line on the Pre-Check Listing, output the check information to the laser printer checks file, create a transaction on the daily file, and delete the record from the checks file,
Remittance Processing. Confidential Materials omitted and filed separately with the Securities and Exchange Commission. Asterisks denote omissions.
Remittance Processing. Masada shall perform the remittance processing function for Centennial's Subscribers. The remittance processing function shall include, without limitation, automated lockbox processing and weekly lockbox reporting. Masada shall also provide accounts receivable trial balances for each Centennial branch office. Centennial shall receive monthly reports from Masada which shall include accounts receivable balances as well as aging. In no event, however, shall Masada be required under this Agreement to perform any collection function for delinquent accounts of Centennial such as calling Centennial Subscribers who are delinquent in payment or engaging collection agencies or attorneys.
Remittance Processing. A remittance is any non-check captured image sent to Bank and includes any text or numerical information scanned from a document which needs to be in a specific location. Remittances submitted to Bank for processing must meet the specifications designated by Bank from time to time. All changes in remittance design are subject to prior testing and approval by Bank. Bank reserves the right to refuse to process remittances that do not meet its specifications. All changes in remittance design or content are subject to prior testing and approval by Bank at least two (2) weeks prior to implementation.
Remittance Processing. Remittances submitted to Bank for processing must meet the specifications designated by Bank from time to time. All changes in remittance design are subject to prior testing and approval by Bank. Bank reserves the right to refuse to process remittances that do not meet its specifications. All changes in remittance design or content are subject to prior testing and approval by Bank at least two (2) weeks prior to implementation.
Remittance Processing. 5.1. Posting Dates — Dates by which Wachovia will transmit records to Barclays Account Receivable system:
5.1.1. Wachovia to process all conforming and non-conforming payments in the posting timeframes specified for each mail pick up time in the Payment Schedule (Exhibit E).
5.2. Effective Dates — Dates Wachovia will associate with each record contained in the transmission to Barclays Account Receivable system:
5.2.1. Wachovia to effective date all conforming and non-conforming payments per the effective date timeframes specified for each mail pick up time in the Conforming Payment Schedule (Exhibit E).
