Inclearing Items Clause Samples

Inclearing Items. Not later than the opening of business on the day following the Closing Date, Seller shall advise the Federal Reserve Bank of Ohio that the account numbers associated with the Branches should be reassigned to Purchaser and shall further provide such other information necessary to expedite the clearing and sorting of all checks, drafts, instruments and other commercial paper relating to the Deposits (collectively referred to herein as the "Paper Items"). Purchaser shall bear all charges and costs imposed by the Federal Reserve in connection with reassignment of account number ranges for sorting the Paper Items. For a period of one hundred (180) days following the Closing Date (the "Inclearing Period"), in the event the Federal Reserve fails or refuses to direct sort such Paper Items for delivery to Purchaser with the result that such Paper Items are presented to Seller, Seller shall continue to process checks or drafts drawn on deposit accounts included within the Deposits that are not intercepted by the Federal Reserve. During the Inclearing Period, Seller shall by 3:00 p.m. Eastern Time transmit by facsimile or electronic transmission a list of each inclearing item equal to or greater than $2,500 setting forth the amount and the Seller account number of each item received by 12:00 p.m. by Seller for payment that day. Items received for processing after 12:00 p.m. will be listed separately and provided no later than 9:00 a.m. on the next business day. By 6:00 p.m. Eastern Time on each Business Day during the Inclearing Period, Seller shall make available to Purchaser all inclearing items received for payment on the prior Business Day. By 2:00 p.m. Eastern Time on the day following the receipt of the inclearing items, Purchaser shall reimburse Seller for the amount of the checks presented by wire transfer of immediately available funds. Upon expiration of the Inclearing Period, Seller shall cease honoring inclearing items presented against deposit accounts included within the Deposits and such items shall be returned marked "Refer to Maker."
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Inclearing Items. As of the opening of business on the Closing Date, Seller shall expedite the clearing and sorting of all checks, drafts, instruments and other commercial paper relative to the Deposit Accounts (hereinafter collectively referred to as the "Paper Items"). For a period of sixty (60) days following the Closing Date (the "Inclearing Period"), Seller shall continue to process checks or drafts drawn on Deposits which are not intercepted by the FRB. On each banking day during the Inclearing Period, Seller shall send to Purchaser by overnight mail all inclearing items received for payment that day. Upon expiration of the Inclearing Period, Seller shall cease honoring inclearing items presented against the Deposit Accounts and such items shall be returned marked "Refer to Maker". Seller and Purchaser shall settle amounts due under this Section 7.03 by wire transfer.
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Inclearing Items. As of the opening of business on the Closing Date, Seller shall expedite the clearing and sorting of all checks, drafts, instruments and other commercial paper relative to the Deposit Accounts (hereinafter collectively referred to as the "PAPER Items"). For a period of ninety (90) days following the Closing Date (the "INCLEARING PERIOD"), Seller shall continue to process checks or drafts drawn on Deposits which are not intercepted by the Federal Reserve Bank. On each banking day during the Inclearing Period, Seller shall send to Purchaser by same-day courier all inclearing items received for payment that day. Upon expiration of the Inclearing Period, Seller shall cease honoring inclearing items presented against the Deposit Accounts and such items shall be returned marked "Refer to Maker." Seller and Purchaser shall settle amounts due under this Section 7.03 by payment by wire transfer.
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Inclearing Items. As of the opening of business on the Closing Date, SELLER shall advise the Federal Reserve Bank of Cleveland that the account number ranges of the routing transit number associated with the Office should be reassigned to BUYER and shall further provide the information in order to expedite the clearing and sorting of all checks, drafts, instruments, and other commercial paper related to the Deposit Accounts.
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Inclearing Items. For a period of sixty (60) days following the Closing Date (the "Inclearing Period"), Home Savings shall continue to process all checks, drafts, instruments and other commercial paper relating to the Deposits (collectively referred to herein as the "Inclearing Items") drawn on deposit accounts included within the Deposits. During the Inclearing Period, Home Savings shall by 5:00 p.m. Pacific time transmit by facsimile or electronic transmission a list of each Inclearing Item equal to or greater than $10,000 setting forth the amount and the Home Savings account number of each item received by Home Savings for payment that day. By 1:00 p.m. Pacific time on each Business Day during the Inclearing Period, Home Savings shall make available to IBC all Inclearing Items received for payment on the prior Business Day. By 5:00 p.m. Pacific time on the day of the receipt of the Inclearing Items, IBC shall reimburse Home Savings for the amount of the Inclearing Items presented by wire transfer of immediately available funds. Upon expiration of the Inclearing Period, Home Savings shall cease honoring Inclearing Items presented against deposit accounts included within the Deposits and such items shall be returned marked "Refer to Maker". Following the Closing Date, if IBC receives any of Home Savings' bank or escrow checks, IBC shall outsort such items and forward them to Home Savings' Servicing Center in Irwindale (or such other location as Home Savings shall specify) by overnight mail for a period of one (1) year following the Closing Date. By 2:00 p.m. Pacific time on the day following receipt of the Inclearing Items, Home Savings shall reimburse IBC for the amount of such bank or escrow checks presented by wire transfer of immediately available funds. Home Savings shall determine whether to pay or reject such checks.
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Related to Inclearing Items

  • Clearing Systems In delivering any Global Note or Global Certificate in accordance with Clause 3.4.1, the Fiscal Agent shall give instructions to the relevant clearing system to hold the Notes represented by it to the order of the Fiscal Agent pending transfer to the securities account(s) referred to in Clause 3.4. 1. Upon payment for any such Notes being made to the Fiscal Agent, it shall transfer such payment to the account of the Issuer notified to it by the Issuer. For so long as any such Note continues to be held to the order of the Fiscal Agent, the Fiscal Agent shall hold such Note to the order of the Issuer.

  • Lost Items The Credit Union, in receiving items from you for withdrawal or deposit, acts only as your agent and reserves the right to reverse the credit for any deposited items or to charge your account for the items should they become lost in the collection process.

  • Prepaid Items All prepaid expenses relating to the Station.

  • DATA LOSS The Company does not accept responsibility for the security of Your account or content. You agree that Your use of the Website or Services is at Your own risk.

  • Ineligible Items Items ineligible for grant award reimbursement include: alcohol, for consumption purposes; land; construction or reconstruction of driving ranges, towers and skid pads; construction, rehabilitation or remodeling of State, local or private buildings or structures; and office furnishings and fixtures. Grant funds shall never be used to purchase property or build facilities. Grantees are responsible for paying for grant-funded goods and services in a timely manner. Grant funds may not be used to pay late fees, finance charges, interest, or any costs associated with late or overdue bills. All such costs are the sole responsibility of Grantee.