Cancellation of Payment Clause Samples

The 'Cancellation of Payment' clause defines the conditions under which a payment obligation can be revoked or annulled. Typically, this clause outlines scenarios such as non-performance, breach of contract, or mutual agreement that would justify stopping a scheduled payment. For example, if a service is not delivered as promised, the paying party may be entitled to cancel the payment. The core function of this clause is to protect parties from having to pay for goods or services that are not provided as agreed, thereby allocating risk and ensuring fairness in contractual transactions.
Cancellation of Payment. To cancel a bill payment that you have scheduled, you must cancel the payment online before the time it is scheduled to be processed.
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Cancellation of Payment. A payment request that has been initiated through Recipient Chooses (Email or Mobile Number) may not be cancelled unless the Recipient has not yet claimed the payment. A payment request that has been initiated using Direct Deposit (you entering the Recipients bank information) or a claimed payment may not be cancelled. Inquiries on cancellations must be directed to SNB at 866.482.0404.
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Cancellation of Payment. A payment request that has been initiated through Recipient Chooses (Option 2: Email or Mobile Number) may not be cancelled unless the Recipient has not yet claimed the payment. A payment request that has been initiated using Direct Deposit may not be cancelled. Inquiries on cancellations must be directed to the Bank at ▇-▇▇▇-▇▇▇-▇▇▇▇. Rev. 6.21.2021 3 Payments conducted through Recipient Chooses (Option 2: Email or Mobile Number) will expire in 10 calendar days if not claimed. The debited amount will be returned to your account 5 calendar days after the payment expires. Payments to another person may not be completed for various reasons. For example, if information provided for the Recipient is inaccurate or if identity verification is not completed, the payment may be placed on hold or the amount of the payment may be returned to your Account. Similarly, if you have insufficient funds in your Account(s) or the payment is otherwise prohibited by the terms of this Agreement, the payment may not be completed. If there are insufficient funds to cover the payment at the time the Receiver attempts to claim the payment, they will receive an error message indicating that the payment cannot be claimed and the Sender should be contacted. If an Account does not have sufficient available funds on the scheduled transfer date, the transfer will not be made. If we do elect to initiate the transfer, it may cause an overdraft in your Account in which case you shall be liable for the overdraft item including any overdraft and related fees as disclosed in your Deposit Agreement. In addition, a Continuous OD (Overdraft) Fee of $35.00 will be imposed every five (5) business days until you bring your account positive. This fee is applied to your account when it has been overdrawn for five (5) or more consecutive business days. A maximum of five (5) charges or $175 will be charged for each time period your account remains in a negative status. Other fees can lead to a negative balance, which can lead to additional fees. This fee is in addition to Overdraft Item and NSF Return Item fees that may apply to your account for each overdraft or returned item. You can avoid this fee by promptly covering your overdraft – deposit or transfer enough available funds to cover your overdraft, plus any fees we assessed, within the first 5 consecutive business days that your account is overdrawn. We may report information about your Account to credit bureaus.
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Cancellation of Payment. A payment request that has been initiated through PayPal™ or Recipient Chooses may not be cancelled unless the recipient has not yet claimed the payment. A payment request that has been initiated using Send to Bank Account may not be cancelled. Inquiries on cancellations must be directed to Customer Care at (▇▇▇) ▇▇▇-▇▇▇▇ EXPIRED PAYMENTS. Payments conducted through PayPal™ will not expire, as they happen in real time and will either succeed or fail immediately. If the recipient does not wish to open a PayPal™ account, you will have to allow the PayPal™ payment to expire (after 10 days) before the debited amount is returned to your account. Payments conducted through Recipient Chooses will expire in 10 calendar days if not claimed by the recipient.
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Cancellation of Payment. A payment request that has been initiated through Recipient Chooses may not be cancelled unless the recipient has not yet claimed the payment. A payment request that has been initiated using Send to Bank Account may not be cancelled. Inquiries on cancellations must be directed to Online Banking Support at ▇-▇▇▇-▇▇▇-▇▇▇▇ or ▇▇▇-▇▇▇-▇▇▇▇.
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Cancellation of Payment. A payment request that has been initiated through PayPal™ or Recipient Chooses (Option 3: Email or Mobile Number) may not be cancelled unless the Recipient has not yet claimed the payment. A payment request that has been initiated using Direct Deposit or Pay Pal may not be cancelled. Inquiries on cancellations must be directed to the Bank at 928-854-3000. Payments conducted through PayPal™ are processed in real time and will either succeed or fail immediately. If the recipient does not have or wish to open a PayPal™ Account, the PayPal™ payment will expire in 30 calendar days. The debited amount will be returned to your account 5 calendar days after the payment expires. Payments conducted through Recipient Chooses (Option 3: Email or Mobile Number) will expire in 10 calendar days if not claimed. Payments to another person may not be completed for various reasons. For example, if information provided for the recipient is inaccurate or if identity verification is not completed, the payment may be placed on hold or the amount of the payment may be returned to your account. Similarly, if you have insufficient funds in your account(s) or the payment is otherwise prohibited by the terms of this Agreement, the payment may not be completed. If there are insufficient funds to cover the payment at the time the receiver attempts to claim the payment, they will receive an error message indicating that the payment cannot be claimed and the sender should be contacted. If an Account does not have sufficient available funds on the scheduled transfer date, the transfer may not be made. If we do elect to initiate the transfer, it may cause an overdraft in your account in which case you shall be liable for the overdraft item including any overdraft and related fees as disclosed in your Deposit Agreement. We may report information about your account to credit bureaus.
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Related to Cancellation of Payment

  • Cancellation of Payment Orders The Fund may cancel a payment order but the Custodian shall have no liability for the Custodian’s failure to act on a cancellation instruction unless the Custodian has received such cancellation instruction at a time and in a manner affording the Custodian reasonable opportunity to act prior to the Custodian’s execution of the order. Any cancellation shall be sent and confirmed in the manner set forth in Paragraph 2 above.

  • Termination of Payments Notwithstanding section 2.2, no payments shall be due to Purchaser ▇▇▇▇ Purchaser has received an aggregate amount under this Note, including payments made by the Company pursuant to section 2.3, equal to (i) the Principal Amount (as defined in the Investor Information Sheet above), multiplied by (ii) the Maximum Payment Multiple. We refer to the result of this multiplication as the “Maximum Payment Amount.”

  • Application of Payment The monthly housing assistance payment shall be credited against the monthly rent to owner for the contract unit.

  • Reduction of Payments Any reduction under Subsection (b) above shall be applied first to Payments that constitute “deferred compensation” (within the meaning of Section 409A of the Code and the regulations thereunder). If there is more than one such Payment, then such reduction shall be applied on a pro rata basis to all such Payments. Subject to the foregoing rules, the Employee may elect, in the Employee’s sole discretion, which and how much of the Payments shall be eliminated or reduced (as long as after such election the aggregate present value of the Payments equals the Reduced Amount) and shall advise the Company in writing of the Employee’s election within 10 business days of receipt of notice. If no such election is made by the Employee within such 10-day period, then the Company may elect which and how much of the Payments shall be eliminated or reduced (as long as after such election the aggregate present value of the Payments equals the Reduced Amount) and shall notify the Employee promptly of such election. For purposes of this Section 3, a present value shall be determined in accordance with Section 280G(d)(4) of the Code. All determinations made by the Accounting Firm under this Section 3 shall be binding upon the Company and the Employee and shall be made within 10 business days of the date when a Payment becomes payable or transferable. As promptly as practicable following such determination and the elections hereunder, the Company shall pay or transfer to or for the benefit of the Employee such amounts as are then due to the Employee and shall promptly pay or transfer to or for the benefit of the Employee in the future such amounts as become due to the Employee.

  • Application of Payments Landlord shall have the right to apply payments received from Tenant pursuant to this Lease, regardless of Tenant’s designation of such payments, to satisfy any obligations of Tenant hereunder, in such order and amounts as Landlord, in its sole discretion, may elect.