Common use of USE OF CHECKS Clause in Contracts

USE OF CHECKS. If we issue you checks, these checks are treated as cash advances when they are used and presented for payment. We may refuse to issue or reissue and may also terminate, limit or modify the use of the checks without notice to you, and you agree to surrender the checks upon our demand or upon learning of our cancellation or withdrawal of the checks. Use of checks or other methods of access for kiting or similar activity is an action of default. The checks at all times remain the property of PenFed and we may repossess them without the use of court process. All of the terms and conditions of this Agreement apply to the use of the checks. Only check blanks and other methods authorized by PenFed now and in the future may be used to obtain funds from your Account. If so authorized by PenFed, your use of a personal identification number (PIN) for such purpose shall constitute your signature. Paid checks become our property and will not be returned to you. Copies may be provided, if requested, for a nominal fee for each item. Should we decline to pay any check, or if you instruct us not to pay a check, PenFed shall not be liable, except for gross negligence, for any action it takes regarding payment or nonpayment of a check. If we decline to pay a check, a charge may be made to your account in the amount indicated on our current Schedule of Service Fees brochure, which is available at any branch office, on request, or at XxxXxx.xxx. You will not date any check later than the date that you write it. If you do and the check is presented for payment before its date, PenFed, in its sole discretion may return it unpaid, or pay it. If we pay it, we will charge the Account. PenFed may, in its sole discretion, pay a check which has a date more than six months old.

USE OF CHECKS. If we issue you checks, these checks are treated as cash advances when they are used and presented for payment. We may refuse to issue or reissue and may also terminate, limit or modify the use of the checks without notice to you, and you agree to surrender the checks upon our demand or upon learning of our cancellation can- cellation or withdrawal of the checks. Use of checks or other methods of access for kiting or similar activity is an action of default. The checks at all times remain the property of PenFed and we may repossess them without the use of court process. All of the terms and conditions of this Agreement apply to the use of the checks. Only check blanks and other methods authorized by PenFed now and in the future may be used to obtain funds from your Account. If so authorized by PenFed, your use of a personal identification number (PIN) for such purpose shall constitute your signature. Paid checks become our property and will not be returned to you. Copies may be provided, if requested, requested for a nominal fee for each item. Should we decline to pay any check, or if you instruct us not to pay a check, PenFed shall not be liable, except for gross negligence, for any action it takes regarding re- xxxxxxx payment or nonpayment of a check. If we decline to pay a check, a charge may be made to your account in the amount indicated on our current Schedule of Service Fees brochure, which is available at any branch office, on request, or at XxxXxx.xxx. You will not date any check later than the date that you write it. If you do and the check is presented for payment before its date, PenFed, in its sole discretion may return it unpaid, or pay it. If we pay it, we will charge the AccountAc- count. PenFed may, in its sole discretion, pay a check which has a date more than six months old.

USE OF CHECKS. If we issue you checks, these checks are treated as cash advances when they are used and presented for payment. We may refuse to issue or reissue and may also terminate, limit or modify the use of the checks without notice to you, and you agree to surrender the checks upon our demand or upon learning of our cancellation cancel- lation or withdrawal of the checks. Use of checks or other methods of access for kiting or similar activity is an action of default. The checks at all times remain the property of PenFed and we may repossess them without the use of court process. All of the terms and conditions of this Agreement apply to the use of the checks. Only check blanks and other methods authorized by PenFed now and in the future may be used to obtain funds from your Account. If so authorized by PenFed, your use of a personal identification number (PIN) for such purpose shall constitute your signature. Paid checks become our property and will not be returned to you. Copies may be provided, if requested, requested for a nominal fee for each item. Should we decline to pay any check, or if you instruct us not to pay a check, PenFed shall not be liable, except for gross negligence, for any action it takes regarding payment or nonpayment of a check. If we decline to pay a check, a charge may be made to your account in the amount indicated on our current Schedule of Service Fees brochure, which is available at any branch office, on request, or at XxxXxx.xxx. You will not date any check later than the date that you write it. If you do and the check is presented for payment before its date, PenFed, in its sole discretion may return it unpaid, or pay it. If we pay it, we will charge the Account. PenFed may, in its sole discretion, pay a check which has a date more than six months old.