Common use of Taxpayer Identification Number and Backup Withholding Clause in Contracts

Taxpayer Identification Number and Backup Withholding. The Internal Revenue Service (IRS) requires most recipients of dividends and other payments to give taxpayer identification numbers to credit unions and other payers who must report the payments to the IRS.The IRS uses the numbers for identification purposes. Credit unions and other payers must be given the numbers regardless of whether recipients are required to file tax returns. Credit unions and other payers must generally withhold a percentage of taxable dividends and certain other payments to a payee who does not furnish a taxpayer identification number. Certain penalties may also apply. In the event that (i) you have been notified by the IRS that you are subject to backup withholding due to payee underreporting and you have not received a notice from the IRS that the backup withholding has been terminated or (ii) you provide us funds available to you and you have withdrawn the ▇▇▇▇▇.▇▇▇ are responsible for all items returned on your Account, and you acknowledge that no one, including our employees, can guarantee that a check or other item you deposit will not be returned.We are not responsible for any deposit or other transaction initiated by mail until the item is actually received by us.We will not be responsible for any deposit or other transaction made through the use of our night depository or any other unattended facility until the item or items are actually removed from the depository or facility by our personnel.We will not be responsible for any deposit or other transaction during the course of delivery to us by any courier or other third party until the item or items are actually received by our personnel.We have the right to endorse all checks payable to you for deposit into your Account.We will not be liable for the negligence of any correspondent bank or institution nor for any loss incurred in transit when items are forwarded to correspondents. We will not be liable for any delay as a result of any interruption of communication facilities or any other circumstances beyond our control.We reserve the right to send any item on a collection basis only. Items drawn on institutions located outside of the United States are handled on a collection basis ▇▇▇▇.▇▇▇ agree to bear the risk of any change in the exchange rate with respect to any items that may be payable in foreign ▇▇▇▇▇▇▇▇.▇▇▇ agree that we may charge back any item before payment without notice, regardless of whether the item has been ▇▇▇▇▇▇▇▇.▇▇▇ agree that, if a check that has been deposited to your Account or cashed by you at the Credit Union is subsequently returned based upon a breach or alleged breach of any transfer warranty, presentment warranty, or otherwise, we may charge back the amount of any such item to your Account at any time without notice, and in accordance with the applicable consumer or business Account Services and Fee Schedule (collectively referred to in this Agreement as the “Account Services and Fee Schedule”), a fee may be imposed for the returned ▇▇▇▇.▇▇▇ agree that we may resubmit an item that has been returned to us for payment, and you waive notice that an item has been dishonored or charged back against your ▇▇▇▇▇▇▇.▇▇▇ also agree that, if we are charged a fee by any other institution in connection with any of your Accounts, that fee expense may be charged to your ▇▇▇▇▇▇▇.▇▇▇ acknowledge that we employ an automated collection procedure in order to more efficiently handle the high volume of items we process. For that reason, our procedures generally do not provide for the examination of ▇▇▇▇▇.▇▇▇ acknowledge and agree that reasonable commercial standards do not require us to sight-review every item presented and that any failure to perform sight-review shall not constitute a lack of ordinary care in the payment of any item.