TIMING OF RECREDIT Sample Clauses

TIMING OF RECREDIT. In general, the financial institution shall recredit the consumers account for the amount described under “CONDITIONS FOR RECREDIT” above no later than the end of the business day following the business day on which the financial institution determines the consumers claim is valid. RECREDIT PENDING INVESTIGATION: If the financial institution has against the consumer account if (A) a con- sumer submits a claim to the financial institution with respect to that substitute check that meets the ‘PROCEDURES FOR CLAIMS” listed above and (B) the financial institution has not provided to the consumer the original check or a copy of the original check (including an image or a substitute check). Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. What? The types of personal infor- mation we collect and share depend on the product or service you have with us. This information can include: How? All financial companies need to share member personal in- formation to run their everyday business.
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TIMING OF RECREDIT. (A) IN GENERAL- The Bank shall recredit the consumer’s account for the amount described in paragraph (1) no later than the end of the business day following the business day on which the Bank determines the consumer’s claim is valid. (B) RECREDIT PENDING INVESTIGATION- if the Bank has not yet determined that the consumer’s claim is valid before the end of the 10th business day after the business day on which the consumer submitted the claim, the Bank shall recredit the consumer’s account for- (i) the lesser of the amount of the substitute check that was charged against the consumer account, or $2,500, together with interest if the account is an interest bearing account, no later than the end of such 10th business day; and (ii) The remaining amount of the substitute check that was charged against the consumer account, if any, together with interest if the account is an interest-bearing account, not later than the 45th calendar day following the business day on which the consumer submits the claim. (d) AVAILABILITY OF RECREDIT- (1) NEXT BUSINESS DAY AVAILABILITY- Except as provided in paragraph (2), a Bank that provides a recredit to a consumer account under subsection (c) shall make the recredited funds available for withdrawal by the consumer by the start of the next business day after the business day on which the Bank recredits the consumer’s account under subsection (c) INITIALS Revised October 2008 (2) SAFEGAURD EXCEPTIONS- a Bank may delay availability to a consumer of a recredit provided under subsection (c)(2)(B)(i) until the start of either the business day following the business day on which the bank determines the consumer’s claim is valid or the 45th calendar day following the business day on which the consumer submits a claim for such recredit in accordance with subsection (b), whichever is earlier, in any of the following circumstances: (A) NEW ACCOUNTS- The claim is made during the 30-day period beginning on the business day the consumer account was established. (B) REPEATED OVERDRAFTS- Without regard to the charge that is the subject of the claim for which the recredit was made- (i) on 6 or more business days during the 6-month period ending on the date on which with consumer submits the claim, the balance in the consumer account was negative or would have become negative if checks or other charges to the account had been paid; or (ii) On 2 or more business days during such 6-month period, the balance in the consumer account was negative or ...
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Related to TIMING OF RECREDIT

  • Timing of Requests Fund requests for Shareholder information shall be made no more frequently than quarterly except as the Fund deems necessary to investigate compliance with policies established by the Fund for the purpose of eliminating or reducing any dilution of the value of the outstanding shares issued by the Fund.

  • Timing of Payment Notwithstanding anything herein to the contrary, if the date on which any payment is to be made pursuant to this Indenture or the Notes is not a Business Day, the payment otherwise payable on such date shall be payable on the next succeeding Business Day with the same force and effect as if made on such scheduled date and (provided such payment is made on such succeeding Business Day) no interest shall accrue on the amount of such payment from and after such scheduled date to the time of such payment on such next succeeding Business Day and the amount of any such payment that is an interest payment will reflect accrual only through the original payment date and not through the next succeeding Business Day.

  • Timing of Release of Claims Whenever in this Agreement a payment or benefit is conditioned on the Executive’s execution and non-revocation of a release of claims, such as the separation agreement referenced in Section 11(a) hereof, such release must be executed and all revocation periods shall have expired within 60 days after the Date of Termination; failing which such payment or benefit shall be forfeited. If such payment or benefit constitutes Non-Exempt Deferred Compensation, then, subject to subsection (c) above, such payment or benefit (including any installment payments) that would have otherwise been payable during such 60-day period shall be accumulated and paid on the 60th day after the Date of Termination provided such release shall have been executed and such revocation periods shall have expired. If such payment or benefit is exempt from Section 409A of the Code, the Company may elect to make or commence payment at any time during such 60-day period.

  • Timing of Payments All payments of Expenses (including without limitation Expense Advances) by the Company to the Indemnitee pursuant to this Agreement shall be made to the fullest extent permitted by law as soon as practicable after written demand by Indemnitee therefor is presented to the Company, but in no event later than thirty (30) business days after such written demand by Indemnitee is presented to the Company, except in the case of Expense Advances, which shall be made no later than ten (10) business days after such written demand by Indemnitee is presented to the Company.

  • Timing of Response Intermediary agrees to execute instructions as soon as reasonably practicable, but not later than five business days after receipt of the instructions by the Intermediary.

  • Timing of Plan Administrator Response The Plan Administrator shall respond in writing to such claimant within 60 days after receiving the request for review. If the Plan Administrator determines that special circumstances require additional time for processing the claim, the Plan Administrator can extend the response period by an additional 60 days by notifying the claimant in writing, prior to the end of the initial 60-day period, that an additional period is required. The notice of extension must set forth the special circumstances and the date by which the Plan Administrator expects to render its decision.

  • Timing of Exercise The Warrants shall be exercisable at any time in whole or in part from time to time commencing as of February 17, 2006 and expiring at 5:00 P.M., New York time, on February 16, 2011 (the “Expiration Date”), subject to earlier termination as provided herein, and may not be exercised thereafter.

  • Timing of Bank Response The Bank shall respond to such claimant within 90 days after receiving the claim. If the Bank determines that special circumstances require additional time for processing the claim, the Bank can extend the response period by an additional 90 days by notifying the claimant in writing, prior to the end of the initial 90-day period, that an additional period is required. The notice of extension must set forth the special circumstances and the date by which the Bank expects to render its decision.

  • Timing of Administrator Response The Administrator shall respond to such Claimant within ninety (90) days after receiving the claim. If the Administrator determines that special circumstances require additional time for processing the claim, the Administrator can extend the response period by an additional ninety (90) days by notifying the Claimant in writing, prior to the end of the initial ninety (90) day period, that an additional period is required. The notice of extension must set forth the special circumstances and the date by which the Administrator expects to render its decision.

  • Timing of Payment or Performance When the payment of any obligation or the performance of any covenant, duty or obligation is stated to be due or performance required on a day which is not a Business Day, the date of such payment (other than as described in the definition of Interest Period) or performance shall extend to the immediately succeeding Business Day.

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