Common use of Exception Items Clause in Contracts

Exception Items. Each Business Day we review Electronic Items to determine if any Electronic Item, that we in our sole discretion, determine to be ineligible for the Deposit Service (“Exception Item”). 1. is illegible or contains MICR data that is not machine readable; 2. was previously processed as an Electronic Item, or 3. is an Unallowable Paper Item as set forth above. Even if we do not initially identify an Electronic Item as an Exception Item when we review and process the Electronic Item, the Electronic Item may still be returned to us by the Paying Bank if the Paying Bank determines that such Electronic Item is illegible of missing an image. We will attempt to notify you of each Exception Item through any communication channels at our discretion.

Exception Items. Each Business Day we review Electronic Items to determine if any Electronic Item, that we in our sole discretion, determine to be ineligible for the Deposit Service (“Exception Item”). 1. is illegible or contains MICR data that is not machine readable; 2. was previously processed as an Electronic Item, or 3. is an Unallowable Paper Item as set forth above. Even if we do not initially identify an Electronic Item as an Exception Item when we review and process the Electronic Item, the Electronic Item may still be returned to us by the Paying Bank if the Paying Bank determines that such Electronic Item is illegible of or missing an image. We will attempt to notify you of each Exception Item through any communication channels at our discretion.