Returned Items. You are solely responsible for any Item for which you have been given provisional credit, and any such Item that is returned or rejected may be charged to your Account. You acknowledge that all credits received for deposits made through the Service are provisional, subject to verification and final settlement. Any Item that we return to you will be returned in the form of an Image or an IRD.
Returned Items. Secured Party, Company and Servicer understand and agree that the face amount (“Returned Item Amount”) of each Returned Item will be paid by Bank debiting the Collateral Account to which the Returned Item was originally credited, without prior notice to Secured Party, Company or Servicer. As used in this Agreement, the term “Returned Item” means (i) any item deposited to a Collateral Account and returned unpaid, whether for insufficient funds or for any other reason, and without regard to timeliness of the return or the occurrence or timeliness of any drawee’s notice of non-payment; (ii) any item subject to a claim against Bank of breach of transfer or presentment warranty under the Uniform Commercial Code (as adopted in the applicable state) or Regulation CC (12 C.F.R. §229), as in effect from time to time; (iii) any automated clearing house (“ACH”) entry credited to a Collateral Account and returned unpaid or subject to an adjustment entry under applicable clearing house rules, whether for insufficient funds or for any other reason, and without regard to timeliness of the return or adjustment; (iv) any credit to a Collateral Account from a merchant card transaction, against which a contractual demand for chargeback has been made; and (v) any credit to a Collateral Account made in error. Company and Servicer agree to pay all Returned Item Amounts immediately on demand, without setoff or counterclaim, to the extent there are not sufficient funds in the applicable Collateral Account to cover the Returned Item Amounts on the day Bank attempts to debit them from the Collateral Account. After Bank receives an Access Termination Notice, Secured Party agrees to pay all Returned Item Amounts within fifteen (15) calendar days after demand, without setoff or counterclaim, to the extent that (i) the Returned Item Amounts are not paid in full by Company or Servicer within five (5) calendar days after demand on Company and Servicer by Bank, and (ii) Secured Party has received proceeds from the corresponding Returned Items under this Agreement.
Returned Items. Any items that were (i) credited for deposit to, or (ii) cashed against, an account at the Branch prior to the Closing and are returned unpaid at any time after the Closing and within the guidelines specified under "Regulation CC" of the Federal Reserve System ("Returned Items") will be handled as follows:
(a) If Seller is charged for the Returned Item, Seller shall notify Buyer and if there are sufficient funds in the account to which such Returned Item was credited or any other accounts on deposit with Buyer in the name of the party liable for such Returned Item, Buyer will debit any or all of such accounts an amount equal in the aggregate to the Returned Item or all funds available in the subject account, if less. If there are not sufficient funds in the accounts which may be debited (for reasons other than Buyer's breach of Section 13.7), Buyer will have no obligation to repay Seller unless and until Buyer obtains reimbursement from the party liable for the Returned Item.
(b) If Buyer's bank account is charged for the Returned Item, Buyer will use reasonable efforts to obtain reimbursement from the account to which, or from the party to whom, the Returned Item was credited. If there are sufficient funds in the account to which such Returned Item was credited or any other accounts on deposit at any branch office of Buyer standing in the name of the party liable for such Returned Item, Buyer will debit any or all of such accounts in an amount equal in the aggregate to the Returned Item. If those accounts do not contain funds sufficient to reimburse Buyer fully (for reasons other than Buyer's breach of Section 13.7), Seller will, upon notice from Buyer, immediately repay to Buyer the amount of the Returned Item and Buyer will assign the Returned Item to Seller for collection. For a reasonable period of time after reimbursement from Seller, Buyer will cooperate with Seller in its efforts to obtain reimbursement from the party liable for the Returned Item.
(c) Any items that were credited for deposit to or cashed against an account at the Branch prior to the Closing Date and are returned unpaid more than sixty (60) days after the Closing will be the responsibility of Seller.
Returned Items a) The Depositor:
i) will be liable, without presentation, protest, or notice of dishonour to any parties, for the nonacceptance or nonpayment of any Instrument the Depositor delivered to the Financial Institution for deposit, discount, collection, or otherwise, and ii) will be liable to the Financial Institution as if proper notice of dishonour, protest, and presentment had been made or given; and the Financial Institution may:
Returned Items a) The Depositor:
i) will be liable, without presentation, protest, or notice of dishonour to any parties, for the nonacceptance or nonpayment of any Instrument the Depositor delivered to the Financial Institution for deposit, discount, collection, or otherwise; and
ii) will be liable to the Financial Institution as if proper notice of dishonour, protest, and presentment had been made or given; and the Financial Institution may:
iii) charge such items, when dishonoured, to the Account in accordance with this section; and
iv) note or protest any item should the Financial Institution consider it advisable to do so, but the Financial Institution will not be liable for failure to note or protest any such item.
b) The Financial Institution is authorized to debit the Account with the amount of any Instrument that:
i) is not paid on presentation,
ii) the Financial Institution has paid and is then called upon to refund, iii) may be dishonoured by nonacceptance or nonpayment, iv) is drawn on the account of a party that is bankrupt or insolvent, the proceeds of which, through no fault of the Financial Institution, have been lost, stolen, or destroyed,
v) the proceeds of which, for any reason, the Financial Institution is unable to collect or withdraw, has been cashed, negotiated, or credited to the Account but that has not been found good, or is found to be forged, fraudulent, counterfeit, or unauthorized, regardless of whether or not the Instrument has cleared.
Returned Items. The Financial Institution is authorized to debit the Account with the amount of any Instrument that:
a) is not paid on presentation,
b) the Financial Institution has paid and is then called upon to refund, c) may be dishonoured by nonacceptance or nonpayment, d) is drawn on the account of a party that is bankrupt or insolvent,
Returned Items. FORTE shall make available to AGENCY details related to the receipt of any Transaction that is returned unpaid or any Transaction which is charged back and shall credit or charge such returned item to AGENCY’s Settlement Account.
Returned Items. The Credit Union is authorized to debit the Account with the amount of any cheque or other Instrument that:
a) is not paid on presentation, b) having paid, the Credit Union may be called upon to refund, c) may be dishonoured by nonacceptance or nonpayment, d) that is drawn on the account of a party that is bankrupt or insolvent,
e) the proceeds of which, through no fault of the Credit Union, have been lost, stolen or destroyed,
f) the proceeds of which, for any reason, the Credit Union is unable to collect or withdraw,
g) has been cashed, negotiated or credited to the Account but that has not been found good, or
h) is found to be forged, fraudulent, counterfeit or unauthorized, regardless of whether or not the Instrument has cleared. The Trustee hereby agrees to indemnify and save the Credit Union harmless for all liability, costs, damages, and expenses incurred by the Credit Union in connection with the foregoing and the Credit Union may debit the Account with such costs, charges and expenses. This indemnity will enure to the benefit of the Credit Union and will be binding upon the Trustee and the Trustee's successors and assigns.
Returned Items. Buyer agrees, no later than the start of the second Business Day after demand by Seller, to pay to Seller an amount equivalent to the amount of any uncollected item included in a Depositor’s balance on the Closing Date that is returned within ninety (90) days after Closing as not collected. Buyer shall be required to make such payment for an item only up to the balance of any funds on deposit with Buyer the Depositor has with Buyer at the xxxx Xxxxxx makes the demand as aforesaid; but if before the Closing Seller had placed a “hold” or other similar protective measure on the Depositor’s account with respect to such item and after Closing Buyer removes the hold or other protective measure other than as required under applicable law or regulation, then Buyer shall be obligated to pay to Seller in full on account of such uncollected item. So long as any hold or other protective measure placed on the Depositor’s account with respect to such item complies with applicable law, the placing of any such hold or other protective measure shall not be deemed a breach of this Agreement.
Returned Items. Secured Party, Servicer and Company understand and agree that the face amount (“Returned Item Amount”) of each Returned Item will be paid by Bank debiting the Collateral Account to which the Returned Item was originally credited, without prior notice to Secured Party, Company, or Servicer. As used in this Agreement, the term “Returned Item”
