Collection procedures definition

Collection procedures means sending a payment on demand no- tice thirty, sixty, and ninety days after the notice of dishonored in- strument has been sent, during which period the person who issued the check or used the credit card will accrue a one percent per month in- terest fee in addition to the dishonored instrument fee. If the ac- crued fees have not been paid within thirty days after the mailing of the ninety-day notice, the account will be turned over for collection.
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Collection procedures means those collection procedures which the ICD may operate from time to time in respect of any Leased Assets, Disbursing Istisna'a Assets, Restricted Fund Units, Wakala Assets, sub-participation interests in Istisna'a or Murabaha financing activities. Istisna'a Receivables and/or Murabaha Receivables originated by it, or which the ICD may have in place to receive payments of dividends, periodic distributions and other payments in respect of Shares and Sukuk.
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Collection procedures those administration procedures specified in ---------------------- Schedule 14.6-1 in effect on the date hereof as modified from time to time in compliance with Section 14.6(c).
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Examples of Collection procedures in a sentence

  • Collection procedures shall be in accordance with the provisions of the General Property Tax Act (1893 PA 206, as amended; MCL 211.1, et seq).

  • Collection procedures 9.3.36 The baggage collection slide or bay should be used according to the methods described in the attached Instructions for the Use of the Baggage Sortation Systems.

  • Collection procedures are unaffected by the application of the late payment or finance charge.

  • Collection procedures are unaffected by the application of the late payment charge.

  • Collection procedures and the requirement for a Deposit or Advance Payment are not affected by the application of a late payment charge.

  • Collection procedures for Loans in default typically involve the pursuit of one or more remedies.

  • Collection procedures will be conducted in both a professional and courteous manner.

  • Collection procedures, temporary disconnection of service, and the requirements for deposit are unaffected by the application of a late payment charge.

  • Collection procedures in relation to receivables are initiated once the credit terms are exceeded and trade receivables both due and not yet due are reviewed on a line by line basis, with adequate provision being made against period end balances where appropriate.

  • Required precollection activities during the grace period Collection procedures on the part of a school or its servicer begin on the day a student ceases to be enrolled at least half- time.


More Definitions of Collection procedures

Collection procedures means sending a payment on demand notice thirty, sixty, and ninety days after the notice of
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Collection procedures means the Company’s own collection procedures and processes as set out ina document provided by the Company to the Factor in accordance with Annex 1 (as such Collection Procedures may be amended, superseded or updated from time to time with the prior approval of the Factor (acting reasonably)).
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Collection procedures means those administration procedures specified in ---------------------- Schedule 14.6-1 to the Reinsurance Agreement in effect on the date hereof relating to Annuities and Charges as modified in compliance with Section 14.6(c) of the Reinsurance Agreement.
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Related to Collection procedures

  • Auction Procedures means the auction procedures constituting Part II of the form of Statement as of the filing thereof.

  • Operation Procedures means the procedures contained in Annexure A hereto which the Contractor is obliged to follow when performing work on behalf of the company

  • Reconciliation Procedures means those procedures set forth in Section 7.09 of this Agreement.

  • AML/KYC Procedures means the customer due diligence procedures of a Reporting Finnish Financial Institution pursuant to the anti-money laundering or similar requirements of Finland to which such Reporting Finnish Financial Institution is subject.

  • Administrative Procedures means the Administrative Procedures of Minnesota Management & Budget developed in accord with M.S. 43A.04, subdivision 4.

  • Delinquency Collection Policies and Procedures The delinquency collection policies and procedures of the Interim Servicer, a copy of which is attached to the Interim Servicing Agreement as Exhibit 11.

  • Sale Procedures Unless otherwise specified in the Supplement, shall mean that, with respect to any sale of one or more Underlying Securities or Related Assets, the Market Agent, on behalf of the Trust, shall sell such Underlying Securities or Related Assets to the highest bidders among not less than two solicited bidders for such Underlying Securities or Related Assets (one of which bidders may include Merrill Lynch & Co. or any Affiliate thereof; provided, however, that xxxxxxr Xxxxill Lynch & Co. nor any of its Affiliates will be under any obligxxxxx xo xxx, and which bidders need not be limited to recognized broker dealers). In the sole judgment of the Market Agent, bids may be evaluated on the basis of bids for a single Underlying Security or Related Asset, a portion of the Underlying Securities or Related Assets, or all of the Underlying Securities or Related Assets being sold or any other basis selected in good faith by the Market Agent.

  • Security Procedures means rules and regulations governing access to, and health and safety procedures while on, Government premises; and information technology security protocols;

  • Servicing Procedures means the servicing procedures of Ford Credit relating to retail installment sale contracts originated or purchased by Ford Credit as the procedures may change.

  • Collection Report means the monthly report prepared by the Primary Servicer setting forth, with respect to each Mortgage Loan and the most recently ended Collection Period prior to the due date of such report, the information described on Exhibit G attached hereto.

  • Staff Vetting Procedures means the Authority’s procedures for the vetting of personnel and as advised to the Contractor by the Authority.

  • Customary Servicing Procedures means procedures (including collection procedures) that the Assuming Institution (or, to the extent a Third Party Servicer is engaged, the Third Party Servicer) customarily employs and exercises in servicing and administering mortgage loans for its own accounts and the servicing procedures established by FNMA or FHLMC (as in effect from time to time), which are in accordance with accepted mortgage servicing practices of prudent lending institutions.

  • appropriate procedures means procedures reasonably designed to prevent and detect errors and omissions. In determining the reasonableness of such procedures, weight will be given to such factors as are appropriate, including the prior occurrence of any similar errors or omissions when such procedures were in place and transfer agent industry standards in place at the time of the occurrence.

  • customs procedures means the treatment applied by the customs administration of each Party to goods which are subject to customs control.

  • Dispute Resolution Procedures means the procedures outlined in Annexure A of the MSA Determination.

  • Bidding Procedures means the procedures governing the Auction and sale of all or substantially all of the Debtors’ assets, as approved by the Bankruptcy Court and as may be amended from time to time in accordance with their terms.

  • Settlement Procedures means the Settlement Procedures attached hereto as Exhibit A.

  • Internal Procedures means in respect of the making of any one or more entries to, changes in or deletions of any one or more entries in the register at any time (including without limitation, original issuance or registration of transfer of ownership) the minimum number of the Warrant Agent’s internal procedures customary at such time for the entry, change or deletion made to be complete under the operating procedures followed at the time by the Warrant Agent, it being understood that neither preparation and issuance shall constitute part of such procedures for any purpose of this definition;

  • Remarketing Procedures means the procedures for conducting Remarketings set forth in Part II of these Articles Supplementary.

  • Large Facility Interconnection Procedures or “LFIP”) shall mean the interconnection procedures applicable to an Interconnection Request pertaining to a Large Generating Facility that are included in Attachment X of the NYISO OATT. Standard Large Generator Interconnection Agreement (“LGIA”) shall mean this Agreement, the form of interconnection agreement applicable to an Interconnection Request pertaining to a Large Generating Facility, that is included in Attachment X of the NYISO OATT. System Deliverability Upgrades shall mean the least costly configuration of commercially available components of electrical equipment that can be used, consistent with Good Utility Practice and Applicable Reliability Requirements, to make the modifications or additions to Byways and Highways and Other Interfaces on the existing New York State Transmission System and Distribution System that are required for the proposed project to connect reliably to the system in a manner that meets the NYISO Deliverability Interconnection Standard at the requested level of Capacity Resource Interconnection Service. System Protection Facilities shall mean the equipment, including necessary protection signal communications equipment, required to (1) protect the New York State Transmission System from faults or other electrical disturbances occurring at the Large Generating Facility and (2) protect the Large Generating Facility from faults or other electrical system disturbances occurring on the New York State Transmission System or on other delivery systems or other generating systems to which the New York State Transmission System is directly connected. System Upgrade Facilities shall mean the least costly configuration of commercially available components of electrical equipment that can be used, consistent with Good Utility Practice and Applicable Reliability Requirements, to make the modifications to the existing transmission system that are required to maintain system reliability due to: (i) changes in the system, including such changes as load growth and changes in load pattern, to be addressed in the form of generic generation or transmission projects; and (ii) proposed interconnections. In the case of proposed interconnection projects, System Upgrade Facilities are the modifications or additions to the existing New York State Transmission System that are required for the proposed project to connect reliably to the system in a manner that meets the NYISO Minimum Interconnection Standard. Tariff shall mean the NYISO Open Access Transmission Tariff (“OATT”), as filed with the Commission, and as amended or supplemented from time to time, or any successor tariff. Trial Operation shall mean the period during which Developer is engaged in on-site test operations and commissioning of the Large Generating Facility prior to Commercial Operation.

  • Information processing system means an electronic system for creating, generating, sending, receiving, storing, displaying, or processing information.

  • Applicable Depositary Procedures means, with respect to any transfer or transaction involving a Global Security or beneficial interest therein, the rules and procedures of the Depositary for such Security, in each case to the extent applicable to such transaction and as in effect from time to time.

  • Applicable Procedures means, with respect to any transfer or exchange of or for beneficial interests in any Global Note, the rules and procedures of the Depositary, Euroclear and Clearstream that apply to such transfer or exchange.

  • Policies and Procedures means the written policies and procedures of the Client in any way related to the Services, including any such policies and procedures contained in the Organic Documents and the Offering Documents.

  • 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.

  • Ordering Procedures means the ordering and award procedures specified in Clause 6 (Ordering Procedures) and Framework Schedule 5 (Ordering Procedure);