Common use of Determining When a Deposit is Received Clause in Contracts

Determining When a Deposit is Received. If you make a deposit with an associate at a branch (a Branch Deposit), we will consider that day to be the day of your deposit. If you make a deposit on a business day before our cutoff time at a Landmark AATM or ATM, we will consider that day to be the day of your deposit. However, if you make a deposit on a day that is not a business day or make an AATM or ATM deposit after the cutoff time, we will consider the deposit to have been made on the next business day for purposes of funds availability. For example, if you make a deposit at an AATM or ATM at 9:00 p.m. on a Friday, the deposit will be considered received on the following Monday. • For determining the availability of your deposits, every day is a business day, except Saturday, Sunday, and observed holidays. • For deposits and transfers at Landmark AATMs and ATMs, the cutoff time is 7:30 p.m. local time. In some cases, the cutoff time may be delayed at Landmark’s discretion. During the delay, your deposit will be treated as if it was received before 7:30 p.m. Please note, the date printed on your AATM or ATM deposit receipt will reflect the calendar day you made your deposit, which may not be the same as the day we consider it received for purposes of funds availability as outlined in this Policy. • Deposits placed in a night depository are considered received the day we remove them from the night depository; we will remove deposits no later than the next business day. • Branches in some locations may be closed on business days because of an emergency, and deposits made at a night depository when those branches are closed will be considered received on the next business day when the branch is open. • Mail deposits are considered deposited when received by Landmark. • We will not accept cash deposits by mail. In some cases, we will not make all of the funds that you deposit by check available to you on the first business day after the day of your deposit. Depending on the amount and circumstances of your deposit, funds may not be available until the fifth business day after the day of your deposit; however, the first $225 of your deposits may be available on the first business day after deposit. If we are not going to make all of the funds from your deposit available on the first business day, we will notify you at the time you make your deposit. We will also tell you when the funds will be available. If your deposit is not made directly to one of our employees, or if we decide to take this action after you have left the premises, we will mail you the notice by the day after we receive your deposit. If you will need the funds from a deposit right away, you should ask us when the funds will be available. In addition, funds you deposit by check may be delayed for a longer period under the following circumstances: • We reasonably believe a check you deposit will not be paid; • You deposit checks totaling more than $5,525 on any one day; • You redeposit a check that has been returned unpaid; • You have overdrawn your account repeatedly in the last six months; or • There is an emergency, such as a natural disaster or failure of communications equipment. We will notify you if we delay your ability to withdraw funds for any of these reasons, and we will tell you when the funds will be available. They will generally be available no later than the fifth business day after the day of your deposit.

Determining When a Deposit is Received. If you make a deposit with an associate at a branch (a Branch Deposit), we will consider that day to be the day of your deposit. If you make a deposit on a business day before our cutoff time at a Landmark AATM or ATM, we will consider that day to be the day of your deposit. However, if you make a deposit on a day that is not a business day or make an AATM or ATM deposit after the cutoff time, we will consider the deposit to have been made on the next business day for purposes of funds availability. For example, if you make a deposit at an AATM or ATM at 9:00 p.m. on a Friday, the deposit will be considered received on the following Monday. • For determining the availability of your deposits, every day is a business day, except Saturday, Sunday, and observed holidays. • For deposits and transfers at Landmark AATMs and ATMs, the cutoff time is 7:30 p.m. local time. In some cases, the cutoff time may be delayed at Landmark▇▇▇▇▇▇▇▇’s discretion. During the delay, your deposit will be treated as if it was received before 7:30 p.m. Please note, the date printed on your AATM or ATM deposit receipt will reflect the calendar day you made your deposit, which may not be the same as the day we consider it received for purposes of funds availability as outlined in this Policy. • Deposits placed in a night depository are considered received the day we remove them from the night depository; we will remove deposits no later than the next business day. • Branches in some locations may be closed on business days because of an emergency, and deposits made at a night depository when those branches are closed will be considered received on the next business day when the branch is open. • Mail deposits are considered deposited when received by Landmark. • We will not accept cash deposits by mail. In some cases, we will not make all of the funds that you deposit by check available to you on the first business day after the day of your deposit. Depending on the amount and circumstances of your deposit, funds may not be available until the fifth business day after the day of your deposit; however, the first $225 of your deposits may be available on the first business day after deposit. If we are not going to make all of the funds from your deposit available on the first business day, we will notify you at the time you make your deposit. We will also tell you when the funds will be available. If your deposit is not made directly to one of our employees, or if we decide to take this action after you have left the premises, we will mail you the notice by the day after we receive your deposit. If you will need the funds from a deposit right away, you should ask us when the funds will be available. In addition, funds you deposit by check may be delayed for a longer period under the following circumstances: • We reasonably believe a check you deposit will not be paid; • You deposit checks totaling more than $5,525 on any one day; • You redeposit a check that has been returned unpaid; • You have overdrawn your account repeatedly in the last six months; or • There is an emergency, such as a natural disaster or failure of communications equipment. We will notify you if we delay your ability to withdraw funds for any of these reasons, and we will tell you when the funds will be available. They will generally be available no later than the fifth business day after the day of your deposit.