COLLECTION OF PAYMENTS definition

COLLECTION OF PAYMENTS. You are hereby contracted and authorized to accept all payments tendered under said managed instrument and to issue receipts therefore, if said payment is not a full payment bringing said managed instrument to a current status, you are instructed to accept said funds tendered unless instructed otherwise in writing. Payments are to be applied in the following order: First to your Managing Agent fees, then as stated in the managed instrument with the full amount paid credited to the managed instrument. If a check or an electronic funds transfer is rejected, due to insufficient funds, or any other reason, a return charge per account will be collected from the payor and retained by the Managing Agent. If you have paid to or on behalf of the undersigned on a rejected check or transfer under these instructions, the undersigned shall immediately reimburse you for those funds paid. The undersigned shall pay to the you any collection costs incurred by the you as Managing Agent. It is further understood that if payments are made to you by negotiable instrument other than cash, no disbursement by you is necessary until said instrument has cleared your ac- count.
Sample 1

Examples of COLLECTION OF PAYMENTS in a sentence

  • Item #1: (RESOLUTION ESTABLISHING THE POLICY OF COLLECTION OF PAYMENTS BY MAIL ONLY AND THE ADOPTION OF NEW SCHEDULE FOR LATE PAYMENTS (SANITARY DISTRICT #1) Supervisors McMahon and Greco made a motion and seconded, respectively, to move the Resolution to the full Board with a positive recommendation.

  • NOTWITHSTANDING ANYTHING TO THE CONTRARY PROVIDED HEREIN, THERE SHALL BE NO PROHIBITION BY LAW, RULE OR REGULATION OF MEXICO OR ANY POLITICAL SUBDIVISION THEREOF AS TO THE LENDER'S PROVIDING THE LOAN TO BORROWER AND LENDER'S COLLECTION OF PAYMENTS OF PRINCIPAL AND INTEREST PURSUANT TO THE LOAN TOGETHER WITH LENDER'S COLLECTION OF ANY AND ALL COSTS RELATING TO THE LOAN OR EXERCISE OF RIGHTS AS TO THE COLLATERAL.

  • COLLECTION OF PAYMENTS AND INCOME FOR THE ACCOUNT Custodian shall, either directly or through its Qualified Sub-Custodians, promptly collect all dividends, income, principal, proceeds from transfer, and other payments with respect to securities held hereunder to which the Account, Fund Accounts or Manager Sub-Accounts shall be entitled.

  • VENDOR ACKNOWLEDGES AND AGREES THAT XX.XXXX IS NOT THE BUYER OR PURCHASER OF THE PRODUCTS OR SERVICES SOLD BY VENDOR THROUGH ITS USE OF THE PLATFORM, AND THAT ACCORDINGLY, (I) XX.XXXX IS NOT RESPONSIBLE FOR, AND FULLY DISCLAIMS ALL LIABILITIES FOR, THE COLLECTION OF PAYMENTS FOR SUCH PRODUCTS OR SERVICES TO THE FULLEST EXTENT PERMISSIBLE UNDER APPLICABLE LAW; AND (II) VENDOR AGREES TO LOOK SOLELY TO THE PURCHASER OF THE APPLICABLE PRODUCT OR SERVICE FOR ANY SUCH CLAIM FOR PAYMENT.

  • THE PARTIES WOULD HAVE HAD A RIGHT OR OPPORTUNITY TO LITIGATE DISPUTES THROUGH A COURT BUT HAVE AGREED TO RESOLVE DISPUTES THROUGH BINDING ARBITRATION, EXCEPT THAT THE TITLE LENDER MAY CHOOSE AT TITLE LENDER’S SOLE OPTION TO SEEK COLLECTION OF PAYMENT(S) DUE IN COURT RATHER THAN THROUGH ARBITRATION.

Related to COLLECTION OF PAYMENTS

  • Priority of Payments has the meaning specified in Section 9.01(a).

  • Schedule of Payments means the schedule of payments disclosed on a Contract.

  • Collection Accounts As defined in Section 3.10(a).

  • Special Payments Account means the Eligible Deposit Account created pursuant to Section 2.2 as a sub-account to the Collection Account.

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • Collection Account Agreement means each agreement substantially in the form of Exhibit VI, or such other form as may be acceptable to the Agent, among the applicable Originator, a Seller, Collection Bank and the Agent, as it may be amended, restated, supplemented or otherwise modified and in effect from time to time.

  • Policy Payments Account means a separate special purpose trust account that is an Eligible Account, for the benefit of Holders of the Notes and the Credit Enhancer over which the Indenture Trustee has exclusive control and sole right of withdrawal.

  • Tariff Payment means the payments to be made under Monthly Bills as referred to in Article 10 and the relevant Supplementary Bills;

  • Exchange Note Collection Account means the account established under Section 4.1(a) of the Servicing Supplement.

  • Collections means all cash, checks, notes, instruments, and other items of payment (including insurance proceeds, proceeds of cash sales, rental proceeds, and tax refunds).

  • Collections Account has the meaning given to such term in Section 3.01(a) hereof.

  • Debit Payment means a particular transaction where a debit is made.

  • Loan Payments means the amounts required to be paid by the Company in repayment of the Loan pursuant to Section 4.1 hereof.

  • Interest Collection Account A Securities Account created and maintained on the books and records of the Securities Intermediary entitled “Interest Collection Account” in the name of the Borrower and subject to the prior Lien of the Collateral Agent for the benefit of the Secured Parties.

  • Master Servicer Collection Account The trust account or accounts created and maintained pursuant to Section 4.02, which shall be denominated "JPMorgan Chase Bank, as Trustee f/b/o holders of Structured Asset Mortgage Investments II Inc., Bear Xxxxxxx ALT-A Trust 2004-8, Mortgage Pass-Through Certificates, Series 2004-8 - Master Servicer Collection Account," and which shall be an Eligible Account.

  • Collection Account Bank means any of the banks or other financial institutions holding one or more Collection Accounts.

  • Note Payment Account means the account established and maintained as such pursuant to Section 4.1(b).

  • Certificate Payment Account means the account established and maintained as such pursuant to Section 4.1(c).

  • Guaranty of Payment means each Guaranty of Payment executed and delivered on or after the Closing Date in connection with this Agreement by the Guarantors of Payment, as the same may from time to time be amended, restated or otherwise modified.

  • Servicer Prepayment Charge Payment Amount The amounts payable by the Servicer in respect of any waived Prepayment Charges pursuant to Section 2.05 or Section 3.01.

  • Servicing Advance Reimbursement Amounts As defined in Section 3.22.

  • Advance Payments means the payments made by Customer in advance of delivery with respect of an Aircraft pursuant to Section 4.2 of the Purchase Agreement.

  • Master Servicer Prepayment Charge Payment Amount The amounts payable by the Master Servicer pursuant to Section 2.03(b) in respect of any waived (or, with respect to subsequent changes of law, any unenforceable) Prepayment Charges.

  • Payments refers to anything of value, including cash, gifts, travel expenses, entertainment, offers of employment, provision of free services, and business meals. It may also include event sponsorships, consultant contracts, fellowship support, job offers, and charitable contributions made at the request of, or for the benefit of, an individual, his or her family, or other relations, even if made to a legitimate charity.

  • Principal Collection Account A Securities Account created and maintained on the books and records of the Securities Intermediary entitled “Principal Collection Account” in the name of the Borrower and subject to the prior Lien of the Collateral Agent for the benefit of the Secured Parties.

  • Prepayment Charges Any prepayment premium or charge payable by a Mortgagor in connection with any Principal Prepayment on a Mortgage Loan pursuant to the terms of the related Mortgage Note or Mortgage, as applicable.