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Returned Items definition

Returned Items has the meaning set forth in Section 4.9(c).
Returned Items. If we cash an item or deposit it into your account and, upon presentment to the obligated party, the item is not paid for any reason (or we believe it will be returned unpaid), it may be charged back against your account (or any other account you have with us), even if the item is not returned within any applicable deadlines. We can also charge back any item drawn on us if, within the normal handling period for such item, it cannot be honored against the drawer’s account. If an item is returned to us after it was deposited or cashed because someone made a claim that the item was altered, forged, unauthorized or should not have been paid for some other reason, we reserve the right to either charge back the amount of such item to your account or hold the amount of such item in your account until a final determination as to the validity of that claim has been made. We may also charge back an item or hold the amount of an item if there is a problem which, in our judgment, justifies a reversal of credit. We are authorized to pursue collection of previously dishonored items, and in so doing may permit the payor financial institution to hold an item beyond the normal deadline to pay or return an item. Processing of Items: Items may be sent directly to the financial institution upon which they are drawn or at which they are payable, or they may be sent through collecting agents for collection and remittance.
Returned Items is defined in Exhibit B.

Examples of Returned Items in a sentence

  • Except as set forth below, Returned Items shall be the responsibility of Seller.

  • Activity that will be settled through this account will include items drawn on a Deposit but presented to the Seller for payment, ACH transactions, Direct Debit transactions, Returned Items, and payments made to Seller for Loans.

  • You agree to reimburse and indemnify us for any Losses we may incur with respect to Overdrafts or Returned Items in connection with your Account.

  • Secured Party and Company understand and agree that the opening available balance in the Restricted Account at the beginning of any Business Day will be determined after deducting from the Restricted Account the face amount of all Returned Items (as defined in Section 8 of this Agreement).

  • Activity that will be settled through this account will include items drawn on a Deposit but presented to the Seller for payment, ACH transactions, Direct Debit transactions, Returned Items and payments made to Seller for Loans.


More Definitions of Returned Items

Returned Items shall have the meaning set forth in Section 13.4.
Returned Items has the meaning specified in Section 9(b)(ii) hereof.
Returned Items shall have the meaning set forth in Section 3.2(h).
Returned Items means any Cheques or instruments rejected by the Bank for any reason whatsoever including but not limited to:-
Returned Items means, to the extent credited to any Pledged Account at the Cash Management Bank, all (i) returned or charged-back items, (ii) reversals or cancellations of payment orders, ACH transfers, wire transfers and other electronic fund transfers, (iii) overdrafts resulting from adjustments or corrections of previous credits or other postings, and (iv) all similar returns which result in insufficient funds availability.
Returned Items shall have the meaning assigned in Section 12.3.
Returned Items means all customer checks, Automated Clearing House, or ACH, or other wire transactions returned unpaid in the banking system;