Incorrect Payment definition

Incorrect Payment means a payment that (a) has not been executed according to Proper Instructions given to us; or (b) has been processed outside our maximum processing time for that type of payment; or (c) has not been processed at all.
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Incorrect Payment means a payment that:
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Incorrect Payment. If, following any inspection under clause 6.13, Comvita’s representative determines that Derma Sciences has underpaid the amount of royalties payable to Comvita under this Agreement:
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Examples of Incorrect Payment in a sentence

  • Notwithstanding any direction by the Participant to the contrary, all payments must be payable pursuant to a schedule whereby the entire amount in the Participant’s accounts is paid over a period that does not extend beyond the life of the Participant or over the lives of the Participant and any individual he has designated as his Beneficiary (or over the life expectancies of the Participant and his designated individual Beneficiary).

  • Incorrect Payment .................................................................................


More Definitions of Incorrect Payment

Incorrect Payment means a VRP initiated to a Merchant, which is or was authorised by the Bank Customer, but has been incorrectly executed, including where the payment amount is incorrect, the payment date is incorrect, the payment frequency is incorrect or multiple payments have been made in error;
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Incorrect Payment has the meaning given to that term in clause ‎12.1(a).
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Related to Incorrect Payment

  • Direct Payment means a payment granted directly to farmers under a support scheme listed in Annex I;

  • Mistaken Internet Payment means a payment by a user through a ‘Pay Anyone’ internet banking facility and processed by an ADI through direct entry where funds are paid into the account of an unintended recipient because the user enters or selects a Bank/State/Branch (BSB) number and/or identifier that does not belong to the named and/or intended recipient as a result of:

  • CVR Payment Amount has the meaning set forth in Section 2.4(a).

  • Payment Item means each check, draft or other item of payment payable to a Borrower, including those constituting proceeds of any Collateral.

  • Payment Cap For each Mortgage Loan, the percentage limit set forth in the related Mortgage Note concerning the maximum permitted increase in a monthly payment.

  • Monthly Payment Amount means, with respect to each Payment Date, a payment equal to the amount of interest which has accrued during the related Interest Accrual Period, computed at the Interest Rate.

  • Untimely payment means a payment to a subcontractor that is more than 90 days past due under the terms and conditions of a subcontract for supplies and services for which the Government has paid the prime contractor.

  • Payment Processor means any Person providing Payment Processing services in connection with another Person’s sale of goods or services, or in connection with any charitable donation.

  • Payment Amount as defined in Section 3.5.

  • Event Payments has the meaning set forth in Section 6.1(d).

  • Agent Payment Account means account no. 5000000030266 of Agent at Wachovia Bank, National Association, or such other account of Agent as Agent may from time to time designate to Administrative Borrower as the Agent Payment Account for purposes of this Agreement and the other Financing Agreements.

  • relevant payment means either a student loan or an amount intended for the maintenance of dependants referred to in paragraph 76(7) or both.

  • Settlement Payment means the transfer, or contractual undertaking (including by automated clearing house transaction) to effect a transfer, of cash or other property to effect a Settlement.

  • Improper Payment means: (a) any payment, offer, gift or promise to pay or authorization of the payment or transfer of other things of value, including without limitation any portion of the compensation, fees or reimbursements received hereunder or the provision of any service, gift or entertainment, directly or indirectly to (i) a Government Official; (ii) any director, officer, employee or commercial partner of a Party or its Affiliates; or, (iii) any other person at the suggestion, request or direction or for the benefit of any of the above-described persons and entities, for purposes of obtaining or influencing official actions or decisions or securing any improper advantage in order to obtain, retain or direct business; (b) payments made and expenses incurred in connection with performance of obligations under this Agreement that are not made and recorded with sufficient accuracy, detail, and control to meet the standards in applicable Anti-Corruption Laws; or, (c) any other transaction in violation of applicable Anti- Corruption Laws.

  • Overpayment means payment in excess of the required fee. Overpayment of less than $10 received by the board shall not be refunded.

  • Warranty Purchase Payment means, with respect to a Payment Date and to a Warranty Receivable repurchased by the Seller as of the close of business on the last day of the related Collection Period, the sum of (a) the unpaid principal balance owed by the Obligor in respect of such Receivable plus (b) interest on such unpaid principal balance at a rate equal to the related APR to the last day in the related Collection Period.

  • Payment Date Statement means a report prepared by the Administrator setting forth certain information relating to the Reference Pool, the Notes, the Reference Tranches and the hypothetical structure described in the Offering Memorandum, which will be in such form as is required under the Offering Memorandum and otherwise as agreed upon between the Administrator and the Indenture Trustee.

  • Payment card means a credit card, charge card, debit card, or any other card that is issued to an authorized card user and that allows the user to obtain, purchase, or receive goods, services, money, or anything else of value from a merchant.

  • Undisputed as used herein shall mean any amount that the Subscribing Reinsurer has not contested in writing to the Company specifying the reason(s) why the payments are disputed.

  • Servicing Advance Reimbursement Amounts As defined in Section 3.22.

  • Reimbursement Amounts As defined in Section 3.22.

  • Reimbursement Amount As defined in Section 2.04.

  • Repurchase Payment for any Repurchased Receivable as of the last day of any Collection Period, means the sum of the Principal Balance thereof as of the beginning of such Collection Period plus interest accrued thereon through the due date for the Obligor’s payment in such Collection Period at the related APR, after giving effect to the receipt of monies collected on such Repurchased Receivable, if any, during such Collection Period.

  • Transfer Payment Either or both of a Transfer Payment Made or a Transfer Payment Received.