Returned Payment definition

Returned Payment. A payment that is not honored by your financial institution.

Returned Payment means any payment submitted for utility service for which the utility is unable to receive the funds submitted for payment, and where the parties have not mutually agreed to void or otherwise disregard the submitted payment.

Returned Payment means a payment made by a Serviced Mortgagor with respect to a Serviced Mortgage Loan prior to the Applicable Closing, which payment (i) was turned over to Purchaser or remitted by a Seller to an Investor or other third party, and (ii) was rejected or which a Seller was required to return and, in fact, returned (whether by credit or otherwise) in the period commencing on the Applicable Closing Date and ending on the 60th day following the Applicable Closing Date; provided, that any amount so rejected or required to be returned within such period that was subsequently collected by a Seller within such period shall not constitute a Returned Payment.

Examples of Returned Payment in a sentence

• Returned Payment $39 if your payment is returned unpaid the first time we present it to your bank.

• If your account is subject to a Returned Payment Fee, the fee will be charged to your account when a payment is returned for any reason.

• Section 18 of the General Terms (Failed Or Returned Payment Instructions) applies if you do not pay our fees and charges for the Service, including without limitation if we debit the External Account for such fees, as described in this Section, and there are insufficient fees in the External Account; Section 18 of the General Terms should be interpreted as applying to the External Account, not just the Eligible Transaction Account, in such circumstances.

• Section 18 of the General Terms (Failed Or Returned Payment Instructions) applies if you do not pay our fees and charges for the Service, including without limitation if we debit the Billing Account for such fees, as described in this Section, and there are insufficient fees in the Billing Account.

• Returned Payment Charge: If you make a payment, and that payment (including an electronic payment) is returned or refused by your bank for any reason you agree to pay a charge of $15.00 for each such payment returned or refused.

More Definitions of Returned Payment

Returned Payment has the meaning given to that term in Section 9.12.

Returned Payment. Any amount paid by an Obligor on a Contract that, for ---------------- any reason is required to be returned to such Obligor.

Returned Payment shall have the meaning given such term in Section 3.4.

Returned Payment means any payment submitted for utility service for which the utility is unable to receive the funds submitted for payment, and where the parties have not mutually agreed to void or otherwise disregard the submitted payment.[Staff Ex. 2.0, pp. 9] [MidAmerican supports Staff’s deletion and new definition of “Returned Payment”. MEC Ex. 1.0 at 3, lines 48-58, Ex. 2.0 at 3-4, lines56-63; MEC Ex. 2.1 at 6-7]

Returned Payment is defined in Section 2.10(b).

Returned Payment means any financial obligation pursuant to this Agreement not paid by Subscriber’s financial institution. “Subscriber’s Account” means Subscriber’s financial institution account.“TeleCheck Approval Code” means (a) for warranty services, that TeleCheck has authorized an Item for warranty coverage under this Agreement, and (b) for verification services, that TeleCheck has authorized an Item as eligible for processing.“TeleCheck Operational Procedures” means TeleCheck’s published policies and procedures contained in various documents provided to Subscriber concerning the services, equipment and maintenance provided pursuant to this Agreement. “TeleCheck Parties” means TeleCheck, its affiliates, officers, directors, employees, shareholders, agents and attorneys. “Warranty Maximum” (a) for an Item processed as an ECA Warranty Transaction means the lower of (i) the face amount of the Item, (ii) the amount set forth on the Merchant Processing Application; or (iii) $25,000.00; (b) for an Item processed as a Paper Warranty Transaction means the lower of (i) the face amount of the Item; (ii) the amount set forth on the Merchant Processing Application; or

Returned Payment means a payment that cannot be processed for any reason or that is not approved by Customer’s financial institution.