Voided Checks Clause Samples

The 'Voided Checks' clause requires one party to provide a check that has been marked as void, typically to the other party or institution. This voided check is often used to verify the correct bank account information for purposes such as setting up direct deposits or electronic payments. By supplying a voided check, the payee ensures that funds are transferred to the correct account, thereby reducing the risk of payment errors and streamlining the setup of automated transactions.
Voided Checks. In the event a Settlement Check becomes void, the Settlement Class Member to whom that Settlement Check was made payable will forfeit the right to payment and will not be entitled to payment under the Settlement, and the Agreement will in all other respects be fully enforceable against the Settlement Class Member. No later than one hundred and twenty (120) days after the issuance of the last Settlement Check, the Settlement Administrator shall take all steps necessary to stop payment on any Settlement Checks that remain uncashed.
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Voided Checks. Any checks issued under this section shall be void if not negotiated within 120 days after their date of issue and shall bear the language: “This check must be cashed within 120 days, after which time it is void.” Checks issued pursuant to this action that are not negotiated within 120 days of their date of issue shall not be reissued. If a Settlement Class Member fails to cash a check issued under this section before it becomes void, the Settlement Class Member will have failed to meet a condition precedent to recovery of settlement benefits, the Settlement Class Member’s right to receive monetary relief under the Settlement shall be extinguished, and Defendant shall have no obligation to make payments to the Settlement Class Member for compensation or loss reimbursement under Paragraph 3.1 or to make any other type of monetary relief to the Settlement Class Member. Such Settlement Class Member remains bound by all terms of the Settlement Agreement.
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Voided Checks. In the event a Settlement Check becomes void, the Participating Settlement Class Member to whom that Settlement Check was made payable will forfeit the right to payment and will not be entitled to payment under the Settlement, and the Agreement will in all other respects be fully enforceable against the Participating Settlement Class Member. No later than one hundred and twenty (120) days after the issuance of the last Settlement Check, the Settlement Administrator shall take all steps necessary to stop payment on any Settlement Checks that remain uncashed. Any funds retained by the Settlement Administrator as a result of voided checks shall be used towards the costs of administration of the Settlement.
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Related to Voided Checks

  • Returned Checks In the event that a check intended as payment for Rent is dishonoured for whatever reason, the same shall be considered as Late Rent with the late fee being payable on the same.

  • Lost Checks Any paycheck that is lost after receipt or that is not delivered within seven (7) days of mailing, shall be replaced not later than five (5) working days following the unit member's written request to the Payroll Department for replacement of the check. For unit members who have automatic deposit, any pay warrant not deposited on the date of the automatic deposit shall be replaced not later than three (3) working days following the unit member’s written request to the Payroll Department for replacement of the check.

  • REFERENCE CHECKS The contact person listed as a reference shall be someone who has personal knowledge of the Proposer’s performance during the referenced contract. Contact persons shall have been informed that they are being used as a reference and that the County may be contacting them. More than one person can be listed but all shall have knowledge of the project. DO NOT list principals or officers who will not be able to answer specific questions regarding the project. Failure of references listed to respond to the County’s inquiries may negatively impact the evaluation of the Proposal. The reference shall be the owner or a representative of the owner.

  • Credit Checks 9.1 The Reseller agrees that: (a) When the Reseller applies to Voip-Unlimited to open an account, Voip-Unlimited may check the following records about the Reseller and its business partners: (i) Voip-Unlimited’s own; (ii) Personal and business records at credit reference agencies (CRAs). When CRAs receive a search from Voip-Unlimited they will place a search footprint on the Reseller’s business credit file that may be seen by other parties including lenders. They supply to Voip-Unlimited both public (including the electoral register) and shared credit and fraud prevention information; and (iii) those at fraud prevention agencies (FPAs); (b) For directors, Voip-Unlimited may seek confirmation, from credit reference agencies, that the residential address provide is the same as that shown on the restricted register of directors' usual addresses at Companies House; (c) Voip-Unlimited may make checks such as assessing the Reseller’s application and verifying identities to prevent and detect crime and money laundering. Voip-Unlimited may also make periodic searches at CRAs and FPAs to manage the Reseller’s account with it; (d) Information on applications will be sent to CRAs and will be recorded by them. Including information on the Reseller’s business and its proprietors and CRAs may create a record of the name and address of the Reseller’s business and its proprietors if there is not one already. Where the Reseller borrows from us, we will give details of the Reseller’s accounts and how the Reseller manages it/them to CRAs; (e) If the Reseller borrows and does not repay in full and on time, CRAs will record the outstanding debt. This information may be supplied to other organisations by CRAs and FPAs to perform similar checks and to trace the Reseller’s whereabouts and recover debts that the Reseller owes. Records remain on file for 6 years after they are closed, whether settled by the Reseller or defaulted; (f) If the Reseller gives Voip-Unlimited false or inaccurate information and Voip-Unlimited suspect or identifies fraud Voip-Unlimited will record this and may also pass this information to FPAs and other organisations involved in crime and fraud prevention; (g) If the Reseller has borrowed from Voip-Unlimited and does not make payments that it owes Voip- Unlimited, Voip-Unlimited may trace the Reseller’s whereabouts and recover debts; (h) Voip-Unlimited and other organisations may access and use from other countries the information recorded by fraud prevention agencies; and (i) The Reseller’s data may also be used for other purposes for which the Reseller gives specific permission or, in very limited circumstances, when required by law or where permitted under the terms of the Data Protection ▇▇▇ ▇▇▇▇.