Common use of Authority to Debit Account Clause in Contracts

Authority to Debit Account. The Customer authorizes the LTSA and the designated Financial Institution entered on the myLTSA website by the Customer to begin deductions of regular recurring Automatic payments, one-time Manual payments or both from the Customer’s designated bank account at the Financial Institution for credit to the Customer’s myLTSA Deposit Account. The regular payments will occur at set intervals triggered as specified in Section 5 and be for variable amounts. The Customer has specified on the myLTSA website whether the PADs will be Automatic, Manual or both; and may amend this Agreement by modifying payment parameters, changing Financial Administrators, or changing the Financial Institution on the myLTSA website. To make payments by PADs, an account with a Canadian Financial Institution is required.

Appears in 4 contracts

Samples: Enterprise Customer Agreement, Enterprise Customer Agreement, Enterprise Customer Agreement

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