Original Check. The first paper check issued to or endorsed in favor of Business Entity with respect to a particular payment transaction. The term “original check” does not include: (a) a noncash item as defined in Regulation CC (Volume 12 of the U.S. Code of Federal Regulations, part 229) promulgated by the Board of Governors of the Federal Reserve; (b) an item payable in a medium other than United States money; (c) or an item drawn by Business Entity or affiliate of Business Entity, on an account of Business Entity or affiliate of Business Entity on Extraco or any other Bank.
Appears in 3 contracts
Sources: Treasury Management Master Agreement, Treasury Management Master Agreement, Treasury Management Master Agreement